Wilmington Savings Fund Society FSB Increases Stock Position in Medtronic plc (NYSE:MDT)

Wilmington Savings Fund Society FSB raised its holdings in shares of Medtronic plc (NYSE:MDT) by 2.3% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 75,060 shares of the medical technology company’s stock after purchasing an additional 1,687 shares during the period. Wilmington Savings Fund Society FSB’s holdings in Medtronic were worth $5,996,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also modified their holdings of the company. Fortitude Family Office LLC bought a new stake in Medtronic in the 3rd quarter worth approximately $27,000. Highline Wealth Partners LLC bought a new position in shares of Medtronic in the 3rd quarter worth approximately $27,000. Darwin Wealth Management LLC purchased a new stake in Medtronic during the third quarter valued at approximately $27,000. Stephens Consulting LLC grew its position in shares of Medtronic by 145.7% during the 4th quarter. Stephens Consulting LLC now owns 344 shares of the medical technology company’s stock valued at $27,000 after acquiring an additional 204 shares during the period. Finally, J. Stern & Co. LLP bought a new stake in shares of Medtronic during the 3rd quarter valued at $30,000. Institutional investors own 82.06% of the company’s stock.

Insiders Place Their Bets

In other news, EVP Brett A. Wall sold 12,437 shares of the firm’s stock in a transaction dated Friday, January 24th. The shares were 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 approximately $3,688,110. This trade represents a 23.28 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.20% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

MDT has been the topic of several analyst reports. JPMorgan Chase & Co. lowered their target price on Medtronic from $99.00 to $96.00 and set a “neutral” rating on the stock in a research report on Friday, November 15th. Sanford C. Bernstein lifted their price objective on Medtronic from $96.00 to $97.00 and gave the company an “outperform” rating in a research report on Wednesday, November 20th. Wells Fargo & Company cut their price objective on Medtronic from $106.00 to $98.00 and set an “overweight” rating for the company in a research note on Wednesday, November 20th. Needham & Company LLC restated a “hold” rating on shares of Medtronic in a research note on Monday, November 18th. Finally, Barclays upped their price target on shares of Medtronic from $105.00 to $109.00 and gave the stock an “overweight” rating in a research report on Tuesday, November 26th. 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 issued a strong buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $95.00.

Medtronic Stock Down 0.9 %

Shares of MDT opened at $90.01 on Friday. The business’s 50 day simple moving average is $84.85 and its 200-day simple moving average is $86.38. Medtronic plc has a 1 year low of $75.96 and a 1 year high of $93.08. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.84 and a quick ratio of 1.39. The stock has a market capitalization of $115.42 billion, a price-to-earnings ratio of 27.53, a price-to-earnings-growth ratio of 2.57 and a beta of 0.84.

Medtronic (NYSE:MDT) last posted its earnings results on Tuesday, November 19th. The medical technology company reported $1.26 earnings per share for the quarter, topping analysts’ consensus estimates of $1.25 by $0.01. Medtronic had a net margin of 13.00% and a return on equity of 13.79%. The firm had revenue of $8.40 billion for the quarter, compared to the consensus estimate of $8.27 billion. During the same period in the previous year, the firm posted $1.25 EPS. The business’s quarterly revenue was up 5.2% on a year-over-year basis. As a group, equities analysts expect that Medtronic plc will post 5.45 earnings per share for the current fiscal year.

Medtronic Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, January 10th. Investors of record on Friday, December 27th were given a $0.70 dividend. The ex-dividend date of this dividend was Friday, December 27th. This represents a $2.80 dividend on an annualized basis and a yield of 3.11%. Medtronic’s dividend payout ratio is presently 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.