Brighton Jones LLC Buys 37,265 Shares of Medtronic plc (NYSE:MDT)

Brighton Jones LLC raised its position in shares of Medtronic plc (NYSE:MDT) by 1,368.0% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 39,989 shares of the medical technology company’s stock after acquiring an additional 37,265 shares during the period. Brighton Jones LLC’s holdings in Medtronic were worth $3,194,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Fortitude Family Office LLC acquired a new position in Medtronic in the 3rd quarter valued at $27,000. Darwin Wealth Management LLC bought a new position in Medtronic during the third quarter worth about $27,000. Highline Wealth Partners LLC acquired a new stake in Medtronic in the 3rd quarter worth about $27,000. J. Stern & Co. LLP acquired a new position in shares of Medtronic during the 3rd quarter worth approximately $30,000. Finally, Chelsea Counsel Co. bought a new position in shares of Medtronic during the third quarter worth approximately $45,000. Institutional investors and hedge funds own 82.06% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on MDT shares. Evercore ISI increased their price target on shares of Medtronic from $100.00 to $104.00 and gave the stock an “outperform” rating in a research report on Tuesday, October 1st. Needham & Company LLC restated a “hold” rating on shares of Medtronic in a research report on Monday, November 18th. Sanford C. Bernstein lifted their target price on Medtronic from $96.00 to $97.00 and gave the company an “outperform” rating in a research report on Wednesday, November 20th. Royal Bank of Canada upgraded shares of Medtronic from a “sector perform” rating to an “outperform” rating and raised their price target for the company from $98.00 to $105.00 in a research note on Thursday, October 10th. Finally, Robert W. Baird lowered their price objective on shares of Medtronic from $96.00 to $93.00 and set a “neutral” rating for the company in a research report on Wednesday, November 20th. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $95.00.

Medtronic Stock Performance

Shares of MDT opened at $89.30 on Friday. Medtronic plc has a one year low of $75.96 and a one year high of $92.68. The company has a market cap of $114.51 billion, a PE ratio of 27.31, a P/E/G ratio of 2.49 and a beta of 0.83. The stock has a 50-day moving average of $83.64 and a 200-day moving average of $85.39. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.84 and a quick ratio of 1.39.

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. The company had revenue of $8.40 billion for the quarter, compared to analyst estimates of $8.27 billion. Medtronic had a net margin of 13.00% and a return on equity of 13.79%. The firm’s revenue was up 5.2% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.25 EPS. On average, equities research analysts predict that Medtronic plc will post 5.45 EPS for the current fiscal year.

Medtronic Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, January 10th. Stockholders of record on Friday, December 27th were paid a $0.70 dividend. The ex-dividend date was Friday, December 27th. This represents a $2.80 annualized dividend and a dividend yield of 3.14%. Medtronic’s payout ratio is 85.63%.

Insider Activity

In related 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 ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. 0.20% of the stock is currently owned by corporate insiders.

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.