Medtronic plc (NYSE:MDT) Shares Purchased by Westside Investment Management Inc.

Westside Investment Management Inc. raised its position in Medtronic plc (NYSE:MDT) by 5.1% during the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 18,474 shares of the medical technology company’s stock after purchasing an additional 890 shares during the period. Westside Investment Management Inc.’s holdings in Medtronic were worth $1,476,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in the company. Edgestream Partners L.P. acquired a new stake in Medtronic in the 2nd quarter valued at about $239,000. AE Wealth Management LLC lifted its holdings in shares of Medtronic by 24.7% in the second quarter. AE Wealth Management LLC now owns 9,578 shares of the medical technology company’s stock valued at $754,000 after purchasing an additional 1,896 shares in the last quarter. Mount Yale Investment Advisors LLC grew its position in shares of Medtronic by 38.5% in the second quarter. Mount Yale Investment Advisors LLC now owns 10,013 shares of the medical technology company’s stock valued at $788,000 after purchasing an additional 2,786 shares during the last quarter. Public Sector Pension Investment Board increased its stake in shares of Medtronic by 68.1% during the 2nd quarter. Public Sector Pension Investment Board now owns 51,014 shares of the medical technology company’s stock worth $4,015,000 after purchasing an additional 20,660 shares in the last quarter. Finally, Evergreen Capital Management LLC increased its stake in shares of Medtronic by 17.9% during the 2nd quarter. Evergreen Capital Management LLC now owns 11,422 shares of the medical technology company’s stock worth $907,000 after purchasing an additional 1,736 shares in the last quarter. Hedge funds and other institutional investors own 82.06% of the company’s stock.

Wall Street Analyst Weigh In

MDT has been the topic of a number of analyst reports. JPMorgan Chase & Co. lowered their target price on Medtronic from $99.00 to $96.00 and set a “neutral” rating on the stock in a report on Friday, November 15th. Needham & Company LLC reaffirmed a “hold” rating on shares of Medtronic in a research note on Monday, November 18th. Robert W. Baird cut their target price on shares of Medtronic from $96.00 to $93.00 and set a “neutral” rating for the company in a research note on Wednesday, November 20th. Citigroup raised their price target on shares of Medtronic from $85.00 to $92.00 and gave the stock a “neutral” rating in a research note on Tuesday, October 1st. Finally, Barclays boosted their price objective on shares of Medtronic from $105.00 to $109.00 and gave the company an “overweight” rating in a research report on Tuesday, November 26th. One investment analyst has rated the stock with a sell rating, nine have given a hold rating, six have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $95.00.

Insiders Place Their Bets

In related news, EVP Brett A. Wall sold 9,850 shares of Medtronic stock in a transaction on Wednesday, January 8th. The shares were sold at an average price of $80.41, for a total transaction of $792,038.50. Following the transaction, the executive vice president now owns 40,708 shares in the company, valued at approximately $3,273,330.28. The trade was a 19.48 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.20% of the stock is owned by insiders.

Medtronic Trading Down 0.4 %

MDT stock opened at $88.04 on Wednesday. The company has a quick ratio of 1.39, a current ratio of 1.84 and a debt-to-equity ratio of 0.51. The company has a market cap of $112.90 billion, a price-to-earnings ratio of 26.92, a PEG ratio of 2.49 and a beta of 0.83. The business has a fifty day simple moving average of $83.64 and a 200-day simple moving average of $85.37. Medtronic plc has a 52 week low of $75.96 and a 52 week high of $92.68.

Medtronic (NYSE:MDT) last announced its quarterly earnings results on Tuesday, November 19th. The medical technology company reported $1.26 EPS for the quarter, topping the consensus estimate of $1.25 by $0.01. The company had revenue of $8.40 billion during the quarter, compared to analyst estimates of $8.27 billion. Medtronic had a return on equity of 13.79% and a net margin of 13.00%. The firm’s revenue was up 5.2% on a year-over-year basis. During the same period in the prior year, the firm posted $1.25 earnings per share. On average, equities research analysts expect that Medtronic plc will post 5.45 EPS for the current year.

Medtronic Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, January 10th. Shareholders of record on Friday, December 27th were given a dividend of $0.70 per share. The ex-dividend date was Friday, December 27th. This represents a $2.80 dividend on an annualized basis and a yield of 3.18%. Medtronic’s dividend payout ratio (DPR) is 85.63%.

About Medtronic

Medtronic plc develops, manufactures, and sells device-based medical therapies to healthcare systems, physicians, clinicians, and patients worldwide. Its Cardiovascular Portfolio segment offers implantable cardiac pacemakers, cardioverter defibrillators, and cardiac resynchronization therapy devices; cardiac ablation products; insertable cardiac monitor systems; TYRX products; and remote monitoring and patient-centered software.