Medtronic plc (NYSE:MDT) Shares Acquired by Willis Investment Counsel

Willis Investment Counsel lifted its position in shares of Medtronic plc (NYSE:MDT) by 0.5% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 353,687 shares of the medical technology company’s stock after buying an additional 1,837 shares during the period. Medtronic makes up about 1.9% of Willis Investment Counsel’s holdings, making the stock its 16th biggest holding. Willis Investment Counsel’s holdings in Medtronic were worth $28,253,000 at the end of the most recent reporting period.

Several other hedge funds also recently added to or reduced their stakes in the stock. Fortitude Family Office LLC bought a new stake in Medtronic during the third quarter worth approximately $27,000. Highline Wealth Partners LLC purchased a new position in shares of Medtronic during the 3rd quarter valued at $27,000. Darwin Wealth Management LLC purchased a new position in shares of Medtronic during the 3rd quarter valued at $27,000. J. Stern & Co. LLP purchased a new position in shares of Medtronic during the 3rd quarter valued at $30,000. Finally, Fiduciary Advisors Inc. acquired a new stake in shares of Medtronic in the 4th quarter valued at $36,000. 82.06% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Medtronic

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

Medtronic Trading Down 1.4 %

MDT opened at $90.74 on Monday. The firm’s fifty day moving average is $84.38 and its two-hundred day moving average is $86.06. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.39 and a current ratio of 1.84. The firm has a market cap of $116.35 billion, a PE ratio of 27.75, a price-to-earnings-growth ratio of 2.57 and a beta of 0.84. Medtronic plc has a twelve month low of $75.96 and a twelve month high of $93.08.

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

Medtronic Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, January 10th. Stockholders of record on Friday, December 27th were given a dividend of $0.70 per share. This represents a $2.80 annualized dividend and a dividend yield of 3.09%. The ex-dividend date was Friday, December 27th. Medtronic’s dividend payout ratio is 85.63%.

Analysts Set New Price Targets

MDT has been the subject of a number of research analyst reports. Wells Fargo & Company cut their target price on shares of Medtronic from $106.00 to $98.00 and set an “overweight” rating for the company in a research report on Wednesday, November 20th. Needham & Company LLC reaffirmed a “hold” rating on shares of Medtronic in a research report on Monday, November 18th. Royal Bank of Canada raised shares of Medtronic from a “sector perform” rating to an “outperform” rating and upped their price objective for the company from $98.00 to $105.00 in a research report on Thursday, October 10th. Barclays upped their target price on shares of Medtronic from $105.00 to $109.00 and gave the company an “overweight” rating in a research note on Tuesday, November 26th. Finally, Sanford C. Bernstein upped their target price on shares of Medtronic from $96.00 to $97.00 and gave the company an “outperform” rating in a research note on Wednesday, November 20th. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $95.00.

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.