Lipe & Dalton Has $1.06 Million Stock Position in Medtronic plc (NYSE:MDT)

Lipe & Dalton trimmed its holdings in shares of Medtronic plc (NYSE:MDT) by 3.4% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 13,248 shares of the medical technology company’s stock after selling 472 shares during the quarter. Lipe & Dalton’s holdings in Medtronic were worth $1,058,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of the stock. Clear Harbor Asset Management LLC increased its stake in Medtronic by 1.2% during the 3rd quarter. Clear Harbor Asset Management LLC now owns 9,558 shares of the medical technology company’s stock worth $861,000 after purchasing an additional 111 shares in the last quarter. Guardian Wealth Management Inc. boosted its holdings in shares of Medtronic by 0.9% in the third quarter. Guardian Wealth Management Inc. now owns 13,131 shares of the medical technology company’s stock valued at $1,182,000 after buying an additional 115 shares during the period. First City Capital Management Inc. increased its position in shares of Medtronic by 2.9% during the third quarter. First City Capital Management Inc. now owns 4,123 shares of the medical technology company’s stock worth $371,000 after acquiring an additional 116 shares in the last quarter. Hardy Reed LLC raised its holdings in shares of Medtronic by 4.4% during the third quarter. Hardy Reed LLC now owns 2,743 shares of the medical technology company’s stock worth $247,000 after acquiring an additional 116 shares during the period. Finally, Lake Street Advisors Group LLC lifted its position in Medtronic by 2.0% in the 3rd quarter. Lake Street Advisors Group LLC now owns 6,024 shares of the medical technology company’s stock valued at $547,000 after acquiring an additional 118 shares in the last quarter. 82.06% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on MDT. Sanford C. Bernstein lifted their target price on Medtronic from $96.00 to $97.00 and gave the company an “outperform” rating in a research report on Wednesday, November 20th. Needham & Company LLC reissued a “hold” rating on shares of Medtronic in a research report on Wednesday. Barclays raised their target price 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. Wells Fargo & Company cut their price target on shares of Medtronic from $106.00 to $98.00 and set an “overweight” rating on the stock in a research report on Wednesday, November 20th. Finally, Robert W. Baird lifted their target price on Medtronic from $90.00 to $91.00 and gave the company a “neutral” rating in a research report on Wednesday. One investment analyst has rated the stock with a sell rating, nine have given a hold rating, five have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $95.00.

Insider Transactions at Medtronic

In other Medtronic news, EVP Brett A. Wall sold 9,850 shares of the company’s stock in a transaction on Wednesday, January 8th. The stock was sold at an average price of $80.41, for a total value of $792,038.50. Following the transaction, the executive vice president now directly owns 40,708 shares of the company’s stock, valued at $3,273,330.28. This represents a 19.48 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. 0.20% of the stock is owned by corporate insiders.

Medtronic Trading Up 2.3 %

Shares of Medtronic stock opened at $89.95 on Friday. Medtronic plc has a 1 year low of $75.96 and a 1 year high of $93.08. The company has a market capitalization of $115.34 billion, a price-to-earnings ratio of 27.34, a P/E/G ratio of 2.22 and a beta of 0.84. The business has a fifty day simple moving average of $86.08 and a two-hundred day simple moving average of $87.10. The company has a debt-to-equity ratio of 0.48, a current ratio of 1.90 and a quick ratio of 1.39.

Medtronic (NYSE:MDT) last posted its earnings results on Tuesday, February 18th. The medical technology company reported $1.39 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.36 by $0.03. Medtronic had a net margin of 12.83% and a return on equity of 14.07%. The company had revenue of $8.29 billion during the quarter, compared to analysts’ expectations of $8.33 billion. Research analysts forecast that Medtronic plc will post 5.46 EPS for the current year.

Medtronic Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, January 10th. Stockholders of record on Friday, December 27th were paid a dividend of $0.70 per share. The ex-dividend date of this dividend was Friday, December 27th. This represents a $2.80 dividend on an annualized basis and a dividend yield of 3.11%. Medtronic’s dividend payout ratio (DPR) is currently 85.11%.

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.