Valtinson Bruner Financial Planning LLC Raises Stock Holdings in Medtronic plc (NYSE:MDT)

Valtinson Bruner Financial Planning LLC increased its position in Medtronic plc (NYSE:MDT) by 4.0% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 23,933 shares of the medical technology company’s stock after purchasing an additional 920 shares during the period. Valtinson Bruner Financial Planning LLC’s holdings in Medtronic were worth $1,912,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in MDT. State Street Corp boosted its holdings in Medtronic by 0.9% in the third quarter. State Street Corp now owns 60,731,367 shares of the medical technology company’s stock worth $5,509,155,000 after acquiring an additional 520,027 shares in the last quarter. Raymond James Financial Inc. bought a new stake in Medtronic in the fourth quarter worth $852,732,000. First Eagle Investment Management LLC boosted its holdings in Medtronic by 0.3% in the fourth quarter. First Eagle Investment Management LLC now owns 9,792,200 shares of the medical technology company’s stock worth $782,201,000 after acquiring an additional 28,910 shares in the last quarter. Pzena Investment Management LLC boosted its holdings in Medtronic by 3.3% in the third quarter. Pzena Investment Management LLC now owns 8,582,993 shares of the medical technology company’s stock worth $772,727,000 after acquiring an additional 275,870 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its holdings in Medtronic by 1.7% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 8,002,051 shares of the medical technology company’s stock worth $639,204,000 after acquiring an additional 134,647 shares in the last quarter. 82.06% of the stock is owned by hedge funds and other institutional investors.

Medtronic Stock Up 0.9 %

MDT stock opened at $93.18 on Friday. Medtronic plc has a fifty-two week low of $75.96 and a fifty-two week high of $96.25. The business’s 50-day moving average is $89.61 and its two-hundred day moving average is $87.96. The company has a debt-to-equity ratio of 0.48, a quick ratio of 1.39 and a current ratio of 1.90. The company has a market cap 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.

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

Medtronic Dividend Announcement

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

Analysts Set New Price Targets

Several research firms have commented on MDT. Citigroup raised Medtronic from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $92.00 to $107.00 in a report on Tuesday, March 4th. Royal Bank of Canada reissued an “outperform” rating and issued a $105.00 target price on shares of Medtronic in a report on Wednesday, February 19th. Barclays upped their price target on Medtronic from $105.00 to $109.00 and gave the company an “overweight” rating in a report on Tuesday, November 26th. Sanford C. Bernstein upped their price target on Medtronic from $96.00 to $97.00 and gave the company an “outperform” rating in a report on Wednesday, November 20th. Finally, JPMorgan Chase & Co. lowered their price target on Medtronic from $99.00 to $96.00 and set a “neutral” rating on the stock in a report on Friday, November 15th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating, six have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $96.07.

Insiders Place Their Bets

In other Medtronic news, EVP Brett A. Wall sold 12,437 shares of the company’s stock in a transaction dated Friday, January 24th. The stock was sold at an average price of $90.00, for a total value of $1,119,330.00. Following the completion of the sale, the executive vice president now owns 40,979 shares in the company, valued at $3,688,110. This represents a 23.28 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Company 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.