Insight Wealth Strategies LLC acquired a new stake in Medtronic PLC (NYSE:MDT) during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 4,642 shares of the medical technology company’s stock, valued at approximately $422,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Hedeker Wealth LLC raised its holdings in Medtronic by 0.6% in the fourth quarter. Hedeker Wealth LLC now owns 21,039 shares of the medical technology company’s stock worth $1,913,000 after purchasing an additional 124 shares during the period. Hanson McClain Inc. raised its holdings in Medtronic by 1.7% in the fourth quarter. Hanson McClain Inc. now owns 7,321 shares of the medical technology company’s stock worth $666,000 after purchasing an additional 125 shares during the period. Cornerstone Advisors Inc. raised its holdings in Medtronic by 12.2% in the third quarter. Cornerstone Advisors Inc. now owns 1,165 shares of the medical technology company’s stock worth $115,000 after purchasing an additional 127 shares during the period. Abbrea Capital LLC raised its holdings in Medtronic by 3.0% in the fourth quarter. Abbrea Capital LLC now owns 4,384 shares of the medical technology company’s stock worth $401,000 after purchasing an additional 128 shares during the period. Finally, Indiana Trust & Investment Management CO raised its holdings in Medtronic by 2.2% in the fourth quarter. Indiana Trust & Investment Management CO now owns 6,228 shares of the medical technology company’s stock worth $566,000 after purchasing an additional 136 shares during the period. Institutional investors and hedge funds own 80.59% of the company’s stock.

A number of brokerages recently commented on MDT. Citigroup raised their price objective on shares of Medtronic from $95.00 to $101.00 and gave the stock a “neutral” rating in a report on Monday, February 25th. Barclays restated a “buy” rating and set a $104.00 price objective on shares of Medtronic in a report on Wednesday, February 20th. Oppenheimer set a $104.00 price objective on shares of Medtronic and gave the stock a “buy” rating in a report on Wednesday, February 20th. Needham & Company LLC restated a “strong-buy” rating and set a $117.00 price objective (down from $120.00) on shares of Medtronic in a report on Monday, February 4th. Finally, BTIG Research upgraded shares of Medtronic from a “neutral” rating to a “buy” rating and set a $100.00 price objective on the stock in a report on Tuesday, January 15th. Nine research analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. Medtronic has a consensus rating of “Buy” and an average target price of $104.32.

In other Medtronic news, CEO Omar Ishrak bought 12,000 shares of the firm’s stock in a transaction that occurred on Wednesday, January 9th. The stock was acquired at an average price of $84.05 per share, with a total value of $1,008,600.00. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Karen L. Parkhill bought 3,000 shares of the firm’s stock in a transaction that occurred on Wednesday, January 9th. The stock was acquired at an average cost of $83.87 per share, with a total value of $251,610.00. The disclosure for this purchase can be found here. 0.28% of the stock is currently owned by company insiders.

Medtronic stock opened at $93.33 on Friday. The firm has a market capitalization of $123.98 billion, a P/E ratio of 19.57, a price-to-earnings-growth ratio of 2.40 and a beta of 0.82. Medtronic PLC has a 1-year low of $76.41 and a 1-year high of $100.15. The company has a quick ratio of 1.92, a current ratio of 2.36 and a debt-to-equity ratio of 0.47.

Medtronic (NYSE:MDT) last released its earnings results on Tuesday, February 19th. The medical technology company reported $1.29 earnings per share for the quarter, beating analysts’ consensus estimates of $1.24 by $0.05. The business had revenue of $7.55 billion during the quarter, compared to the consensus estimate of $7.53 billion. Medtronic had a net margin of 16.10% and a return on equity of 13.85%. The firm’s revenue for the quarter was up 2.4% compared to the same quarter last year. During the same quarter last year, the firm earned $1.17 earnings per share. On average, research analysts anticipate that Medtronic PLC will post 5.15 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Friday, April 12th. Investors of record on Friday, March 22nd will be given a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a yield of 2.14%. The ex-dividend date is Thursday, March 21st. Medtronic’s dividend payout ratio (DPR) is currently 41.93%.

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Medtronic Company Profile

Medtronic plc develops, manufactures, distributes, and sells device-based medical therapies to hospitals, physicians, clinicians, and patients worldwide. It operates through four segments: Cardiac and Vascular Group, Minimally Invasive Therapies Group, Restorative Therapies Group, and Diabetes Group.

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Institutional Ownership by Quarter for Medtronic (NYSE:MDT)

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