EverSource Wealth Advisors LLC Has $388,000 Stake in Medtronic plc (NYSE:MDT)

EverSource Wealth Advisors LLC raised its position in Medtronic plc (NYSE:MDT) by 49.8% during the fourth quarter, according to its most recent filing with the SEC. The firm owned 4,855 shares of the medical technology company’s stock after purchasing an additional 1,613 shares during the period. EverSource Wealth Advisors LLC’s holdings in Medtronic were worth $388,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. PFG Advisors lifted its position in shares of Medtronic by 8.4% in the 4th quarter. PFG Advisors now owns 2,673 shares of the medical technology company’s stock worth $214,000 after purchasing an additional 208 shares during the period. Moors & Cabot Inc. lifted its position in shares of Medtronic by 1.9% in the 4th quarter. Moors & Cabot Inc. now owns 66,481 shares of the medical technology company’s stock worth $5,310,000 after purchasing an additional 1,220 shares during the period. Natural Investments LLC acquired a new position in shares of Medtronic in the 4th quarter worth approximately $291,000. AGF Management Ltd. bought a new stake in shares of Medtronic in the 4th quarter valued at $335,000. Finally, Endowment Wealth Management Inc. increased its stake in shares of Medtronic by 15.6% in the 4th quarter. Endowment Wealth Management Inc. now owns 2,773 shares of the medical technology company’s stock valued at $222,000 after acquiring an additional 375 shares in the last quarter. Institutional investors and hedge funds own 82.06% of the company’s stock.

Medtronic Price Performance

MDT opened at $93.18 on Friday. The company has a debt-to-equity ratio of 0.48, a current ratio of 1.90 and a quick ratio of 1.39. The company has a market capitalization of $119.51 billion, a price-to-earnings ratio of 28.32, a P/E/G ratio of 2.22 and a beta of 0.80. The firm’s fifty day moving average price is $89.61 and its two-hundred day moving average price is $87.96. Medtronic plc has a 1 year low of $75.96 and a 1 year high of $96.25.

Medtronic (NYSE:MDT) last posted its quarterly earnings data 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. The firm had revenue of $8.29 billion for the quarter, compared to the consensus estimate of $8.33 billion. Medtronic had a net margin of 12.83% and a return on equity of 14.07%. As a group, analysts anticipate that Medtronic plc will post 5.46 earnings per share for the current fiscal year.

Medtronic Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, April 11th. Shareholders of record on Friday, March 28th will be issued a dividend of $0.70 per share. This represents a $2.80 dividend on an annualized basis and a yield of 3.00%. The ex-dividend date of this dividend is Friday, March 28th. Medtronic’s dividend payout ratio is 85.11%.

Analyst Ratings Changes

Several analysts have recently weighed in on MDT shares. UBS Group lifted their price objective on shares of Medtronic from $85.00 to $95.00 and gave the company a “neutral” rating in a research note on Wednesday, February 19th. Royal Bank of Canada reiterated an “outperform” rating and issued a $105.00 price objective on shares of Medtronic in a research note on Wednesday, February 19th. Barclays lifted their price objective on shares of Medtronic from $105.00 to $109.00 and gave the company an “overweight” rating in a research note on Tuesday, November 26th. Wells Fargo & Company lowered their price objective on shares of Medtronic from $106.00 to $98.00 and set an “overweight” rating for the company in a research note on Wednesday, November 20th. Finally, JPMorgan Chase & Co. lowered their price objective on shares of Medtronic from $99.00 to $96.00 and set a “neutral” rating for the company in a research note on Friday, November 15th. One analyst has rated the stock with a sell rating, eight have given a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, Medtronic presently has an average rating of “Hold” and a consensus target price of $96.07.

Insiders Place Their Bets

In related news, EVP Brett A. Wall sold 12,437 shares of the business’s stock in a transaction dated Friday, January 24th. The shares were sold at an average price of $90.00, for a total value of $1,119,330.00. Following the transaction, the executive vice president now directly owns 40,979 shares of the company’s stock, valued at approximately $3,688,110. The trade was a 23.28 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 0.20% of the company’s stock.

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.