Hopwood Financial Services Inc. Makes New Investment in Medtronic plc (NYSE:MDT)

Hopwood Financial Services Inc. purchased a new position in shares of Medtronic plc (NYSE:MDT) in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 850 shares of the medical technology company’s stock, valued at approximately $68,000.

A number of other hedge funds and other institutional investors also recently modified their holdings of MDT. Raymond James Financial Inc. bought a new stake in shares of Medtronic in the 4th quarter valued at about $852,732,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in shares of Medtronic by 436.7% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 7,343,385 shares of the medical technology company’s stock valued at $661,125,000 after acquiring an additional 5,975,110 shares during the last quarter. Van ECK Associates Corp lifted its stake in shares of Medtronic by 2,043.4% in the 4th quarter. Van ECK Associates Corp now owns 2,598,150 shares of the medical technology company’s stock valued at $207,540,000 after acquiring an additional 2,476,935 shares during the last quarter. Bank of Montreal Can lifted its stake in shares of Medtronic by 65.0% in the 3rd quarter. Bank of Montreal Can now owns 4,546,819 shares of the medical technology company’s stock valued at $406,122,000 after acquiring an additional 1,790,483 shares during the last quarter. Finally, Janus Henderson Group PLC lifted its stake in shares of Medtronic by 58.4% in the 3rd quarter. Janus Henderson Group PLC now owns 3,850,914 shares of the medical technology company’s stock valued at $346,705,000 after acquiring an additional 1,420,263 shares during the last quarter. Institutional investors own 82.06% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on the company. Robert W. Baird boosted their target price on Medtronic from $90.00 to $91.00 and gave the company a “neutral” rating in a research note on Wednesday, February 19th. Citigroup upgraded Medtronic from a “neutral” rating to a “buy” rating and boosted their price target for the company from $92.00 to $107.00 in a report on Tuesday, March 4th. JPMorgan Chase & Co. reduced 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. Sanford C. Bernstein boosted 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, UBS Group boosted their price target on Medtronic from $85.00 to $95.00 and gave the company a “neutral” rating in a report on Wednesday, February 19th. One analyst has rated the stock with a sell rating, eight have issued a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, Medtronic currently has an average rating of “Hold” and an average target price of $96.07.

Insider Buying and Selling

In related news, EVP Brett A. Wall sold 12,437 shares of the company’s stock in a transaction that occurred on 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 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 position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. 0.20% of the stock is currently owned by company insiders.

Medtronic Stock Down 1.8 %

MDT stock opened at $91.58 on Thursday. 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 price is $89.12 and its two-hundred day moving average price is $87.91. 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 capitalization of $117.45 billion, a price-to-earnings ratio of 27.83, a price-to-earnings-growth 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, 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 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 fiscal year.

Medtronic Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, April 11th. Investors of record on Friday, March 28th will be paid a $0.70 dividend. The ex-dividend date of this dividend is Friday, March 28th. This represents a $2.80 annualized dividend and a dividend yield of 3.06%. Medtronic’s payout ratio is currently 85.11%.

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.