Medtronic plc (NYSE:MDT) Stock Holdings Increased by HBW Advisory Services LLC

HBW Advisory Services LLC raised its holdings in shares of Medtronic plc (NYSE:MDT) by 0.9% during the 4th quarter, Holdings Channel reports. The fund owned 34,284 shares of the medical technology company’s stock after purchasing an additional 299 shares during the period. HBW Advisory Services LLC’s holdings in Medtronic were worth $2,739,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently added to or reduced their stakes in the company. Fortitude Family Office LLC acquired a new position in shares of Medtronic during the 3rd quarter valued at $27,000. Darwin Wealth Management LLC acquired a new position in shares of Medtronic during the 3rd quarter valued at $27,000. Highline Wealth Partners LLC acquired a new position in shares of Medtronic during the 3rd quarter valued at $27,000. J. Stern & Co. LLP acquired a new position in shares of Medtronic during the 3rd quarter valued at $30,000. Finally, Chelsea Counsel Co. acquired a new position in shares of Medtronic during the 3rd quarter valued at $45,000. Institutional investors own 82.06% of the company’s stock.

Analysts Set New Price Targets

MDT has been the topic of a number of recent research reports. Evercore ISI lifted their target price on Medtronic from $100.00 to $104.00 and gave the stock an “outperform” rating in a report on Tuesday, October 1st. Robert W. Baird reduced their price objective on Medtronic from $96.00 to $93.00 and set a “neutral” rating for the company in a research report on Wednesday, November 20th. Royal Bank of Canada raised Medtronic from a “sector perform” rating to an “outperform” rating and lifted their price objective for the company from $98.00 to $105.00 in a research report on Thursday, October 10th. Sanford C. Bernstein boosted their price target on Medtronic from $96.00 to $97.00 and gave the stock an “outperform” rating in a research report on Wednesday, November 20th. Finally, JPMorgan Chase & Co. reduced their price target on Medtronic from $99.00 to $96.00 and set a “neutral” rating for the company in a research report on Friday, November 15th. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $95.00.

Medtronic Price Performance

Shares of MDT stock traded down $1.75 during trading hours on Friday, hitting $80.93. The company had a trading volume of 4,198,572 shares, compared to its average volume of 6,911,589. Medtronic plc has a 12 month low of $75.96 and a 12 month high of $92.68. The firm has a market capitalization of $103.78 billion, a price-to-earnings ratio of 24.75, a PEG ratio of 2.33 and a beta of 0.83. The firm’s fifty day moving average is $84.17 and its 200 day moving average is $84.89. 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 (NYSE:MDT) last released its quarterly earnings data on Tuesday, November 19th. The medical technology company reported $1.26 earnings per share for the quarter, beating the consensus estimate of $1.25 by $0.01. Medtronic had a return on equity of 13.79% and a net margin of 13.00%. The company had revenue of $8.40 billion for the quarter, compared to analyst estimates of $8.27 billion. During the same period in the prior year, the company posted $1.25 EPS. The company’s revenue was up 5.2% compared to the same quarter last year. On average, sell-side analysts predict that Medtronic plc will post 5.45 EPS for the current fiscal year.

Medtronic Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, January 10th. Stockholders of record on Friday, December 27th will be paid a $0.70 dividend. The ex-dividend date is Friday, December 27th. This represents a $2.80 annualized dividend and a dividend yield of 3.46%. Medtronic’s dividend 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.