Magnus Financial Group LLC Has $274,000 Holdings in Medtronic plc (NYSE:MDT)

Magnus Financial Group LLC lifted its position in shares of Medtronic plc (NYSE:MDT) by 16.9% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 3,433 shares of the medical technology company’s stock after purchasing an additional 497 shares during the quarter. Magnus Financial Group LLC’s holdings in Medtronic were worth $274,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of the company. Fortitude Family Office LLC bought a new position in shares of Medtronic in the third quarter valued at $27,000. Darwin Wealth Management LLC acquired a new stake in shares of Medtronic in the 3rd quarter worth about $27,000. Highline Wealth Partners LLC bought a new position in Medtronic in the 3rd quarter valued at about $27,000. J. Stern & Co. LLP acquired a new position in Medtronic during the 3rd quarter valued at about $30,000. Finally, Chelsea Counsel Co. bought a new stake in Medtronic during the 3rd quarter worth approximately $45,000. 82.06% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on MDT shares. JPMorgan Chase & Co. dropped 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. Wells Fargo & Company dropped their price objective on Medtronic from $106.00 to $98.00 and set an “overweight” rating on the stock in a research note on Wednesday, November 20th. Needham & Company LLC reiterated a “hold” rating on shares of Medtronic in a research note on Monday, November 18th. Royal Bank of Canada raised shares of Medtronic from a “sector perform” rating to an “outperform” rating and raised their price target for the company from $98.00 to $105.00 in a research report on Thursday, October 10th. Finally, Robert W. Baird reduced their price objective on shares of Medtronic from $96.00 to $93.00 and set a “neutral” rating for the company in a research report on Wednesday, November 20th. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $95.00.

Insider Buying and Selling

In other Medtronic news, EVP Brett A. Wall sold 9,850 shares of the business’s 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 sale, the executive vice president now owns 40,708 shares of the company’s stock, valued at $3,273,330.28. The trade was a 19.48 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. 0.20% of the stock is owned by insiders.

Medtronic Price Performance

Medtronic stock opened at $87.84 on Thursday. The business’s 50 day simple moving average is $83.64 and its 200 day simple moving average is $85.37. Medtronic plc has a 12 month low of $75.96 and a 12 month high of $92.68. The company has a market cap of $112.64 billion, a price-to-earnings ratio of 26.86, a PEG ratio of 2.50 and a beta of 0.83. The company has a current ratio of 1.84, a quick ratio of 1.39 and a debt-to-equity ratio of 0.51.

Medtronic (NYSE:MDT) last announced its quarterly earnings data on Tuesday, November 19th. The medical technology company reported $1.26 earnings per share 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 for the quarter was up 5.2% on a year-over-year basis. During the same quarter last year, the firm posted $1.25 EPS. Sell-side analysts forecast that Medtronic plc will post 5.45 EPS for the current year.

Medtronic Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, January 10th. Investors of record on Friday, December 27th were paid a dividend of $0.70 per share. This represents a $2.80 dividend on an annualized basis and a dividend yield of 3.19%. The ex-dividend date of this dividend was Friday, December 27th. Medtronic’s payout ratio is currently 85.63%.

Medtronic Company Profile

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.