Central Valley Advisors LLC Raises Stock Position in Medtronic plc (NYSE:MDT)

Central Valley Advisors LLC lifted its stake in Medtronic plc (NYSE:MDT) by 4.2% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 15,402 shares of the medical technology company’s stock after buying an additional 625 shares during the period. Central Valley Advisors LLC’s holdings in Medtronic were worth $1,230,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of MDT. One Capital Management LLC purchased a new stake in shares of Medtronic in the 2nd quarter valued at about $245,000. Edgestream Partners L.P. acquired a new position in Medtronic during the second quarter worth approximately $239,000. Wealth Alliance lifted its stake in Medtronic by 6.4% in the second quarter. Wealth Alliance now owns 5,353 shares of the medical technology company’s stock valued at $421,000 after buying an additional 321 shares during the last quarter. Mercer Global Advisors Inc. ADV boosted its holdings in shares of Medtronic by 0.4% in the second quarter. Mercer Global Advisors Inc. ADV now owns 129,556 shares of the medical technology company’s stock valued at $10,433,000 after acquiring an additional 561 shares during the period. Finally, Vanguard Personalized Indexing Management LLC grew its position in shares of Medtronic by 30.6% during the second quarter. Vanguard Personalized Indexing Management LLC now owns 88,294 shares of the medical technology company’s stock worth $6,846,000 after acquiring an additional 20,666 shares during the last quarter. 82.06% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Medtronic 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 transaction, the executive vice president now directly 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 legal filing with the SEC, which can be accessed through this link. 0.20% of the stock is owned by company insiders.

Analysts Set New Price Targets

Several analysts recently commented on the stock. Robert W. Baird decreased their price target on shares of Medtronic from $96.00 to $93.00 and set a “neutral” rating for the company in a research note on Wednesday, November 20th. Wells Fargo & Company decreased their target price on shares of Medtronic from $106.00 to $98.00 and set an “overweight” rating for the company in a research note on Wednesday, November 20th. Sanford C. Bernstein raised their price target on Medtronic from $96.00 to $97.00 and gave the stock an “outperform” rating in a report on Wednesday, November 20th. Needham & Company LLC reaffirmed a “hold” rating on shares of Medtronic in a research report on Monday, November 18th. Finally, 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 note on Friday, November 15th. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, Medtronic has a consensus rating of “Hold” and an average target price of $95.00.

Medtronic Price Performance

Shares of NYSE MDT opened at $87.19 on Friday. The company’s fifty day moving average is $83.65 and its two-hundred day moving average is $85.01. 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 capitalization of $111.80 billion, a P/E ratio of 26.66, a PEG ratio of 2.28 and a beta of 0.83. Medtronic plc has a one year low of $75.96 and a one year high of $92.68.

Medtronic (NYSE:MDT) last released its quarterly earnings data on Tuesday, November 19th. The medical technology company reported $1.26 EPS 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 quarter in the previous year, the firm earned $1.25 earnings per share. The firm’s revenue was up 5.2% on a year-over-year basis. Analysts forecast that Medtronic plc will post 5.45 EPS for the current fiscal year.

Medtronic Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, January 10th. Investors of record on Friday, December 27th were paid a $0.70 dividend. This represents a $2.80 annualized dividend and a yield of 3.21%. The ex-dividend date was Friday, December 27th. Medtronic’s payout ratio is currently 85.63%.

Medtronic 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.