Medtronic plc (NYSE:MDT) Shares Purchased by Gilman Hill Asset Management LLC

Gilman Hill Asset Management LLC boosted its position in shares of Medtronic plc (NYSE:MDT) by 2.5% in the 4th quarter, HoldingsChannel reports. The fund owned 41,924 shares of the medical technology company’s stock after acquiring an additional 1,016 shares during the period. Gilman Hill Asset Management LLC’s holdings in Medtronic were worth $3,349,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Fortitude Family Office LLC acquired a new position in shares of Medtronic during the third quarter worth $27,000. Highline Wealth Partners LLC purchased a new stake in Medtronic during the 3rd quarter worth about $27,000. Darwin Wealth Management LLC acquired a new position in shares of Medtronic during the 3rd quarter worth about $27,000. J. Stern & Co. LLP purchased a new position in shares of Medtronic in the 3rd quarter valued at about $30,000. Finally, Kieckhefer Group LLC acquired a new stake in shares of Medtronic during the 4th quarter worth about $40,000. 82.06% of the stock is owned by hedge funds and other institutional investors.

Medtronic Stock Up 1.2 %

MDT stock opened at $88.23 on Monday. The stock has a market capitalization of $113.13 billion, a PE ratio of 26.98, a price-to-earnings-growth ratio of 2.28 and a beta of 0.83. The company has a fifty day moving average of $83.64 and a 200-day moving average of $85.16. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.39 and a current ratio of 1.84. Medtronic plc has a one year low of $75.96 and a one year high of $92.68.

Medtronic (NYSE:MDT) last announced its quarterly earnings data on Tuesday, November 19th. The medical technology company reported $1.26 EPS for the quarter, beating analysts’ consensus estimates of $1.25 by $0.01. Medtronic had a net margin of 13.00% and a return on equity of 13.79%. The firm had revenue of $8.40 billion during the quarter, compared to the consensus estimate of $8.27 billion. During the same quarter last year, the firm earned $1.25 earnings per share. The firm’s revenue was up 5.2% compared to the same quarter last year. As a group, analysts expect that Medtronic plc will post 5.45 EPS for the current year.

Medtronic Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, January 10th. Shareholders of record on Friday, December 27th were given a $0.70 dividend. This represents a $2.80 annualized dividend and a yield of 3.17%. The ex-dividend date of this dividend was Friday, December 27th. Medtronic’s payout ratio is 85.63%.

Analyst Ratings Changes

A number of equities analysts recently issued reports on MDT shares. Royal Bank of Canada raised Medtronic from a “sector perform” rating to an “outperform” rating and upped their price target for the company from $98.00 to $105.00 in a report on Thursday, October 10th. Robert W. Baird lowered their target price on shares of Medtronic from $96.00 to $93.00 and set a “neutral” rating for the company in a report on Wednesday, November 20th. Citigroup lifted 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. Needham & Company LLC restated a “hold” rating on shares of Medtronic in a research note on Monday, November 18th. Finally, JPMorgan Chase & Co. cut their target price on Medtronic from $99.00 to $96.00 and set a “neutral” rating on the stock in a research report on Friday, November 15th. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating, six have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $95.00.

Insider Buying and Selling at Medtronic

In other Medtronic news, EVP Brett A. Wall sold 9,850 shares of the company’s stock in a transaction dated 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 directly owns 40,708 shares in the company, valued at approximately $3,273,330.28. This represents a 19.48 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. 0.20% of the stock is owned by corporate insiders.

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.