Brentview Investment Management LLC Makes New Investment in Medtronic plc (NYSE:MDT)

Brentview Investment Management LLC acquired a new position in Medtronic plc (NYSE:MDT) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 38,258 shares of the medical technology company’s stock, valued at approximately $3,056,000. Medtronic comprises about 1.7% of Brentview Investment Management LLC’s investment portfolio, making the stock its 29th largest holding.

Several other institutional investors have also added to or reduced their stakes in the company. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in shares of Medtronic by 436.7% during the third 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 in the last quarter. Bank of Montreal Can raised its stake in shares of Medtronic by 65.0% during the third 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 in the last quarter. Janus Henderson Group PLC raised its stake in shares of Medtronic by 58.4% during the third 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 in the last quarter. International Assets Investment Management LLC raised its stake in shares of Medtronic by 8,908.6% during the third quarter. International Assets Investment Management LLC now owns 1,298,415 shares of the medical technology company’s stock valued at $116,896,000 after acquiring an additional 1,284,002 shares in the last quarter. Finally, Worldquant Millennium Advisors LLC raised its stake in shares of Medtronic by 5,124.5% during the third quarter. Worldquant Millennium Advisors LLC now owns 1,035,708 shares of the medical technology company’s stock valued at $93,245,000 after acquiring an additional 1,015,884 shares in the last quarter. 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 on 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 sale, the executive vice president now directly owns 40,979 shares in the company, valued at approximately $3,688,110. This trade represents a 23.28 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.20% of the stock is owned by company insiders.

Medtronic Stock Down 1.4 %

Shares of NYSE MDT opened at $90.74 on Monday. The company has a 50-day moving average of $84.38 and a 200 day moving average of $86.06. Medtronic plc has a 12-month low of $75.96 and a 12-month high of $93.08. The company has a current ratio of 1.84, a quick ratio of 1.39 and a debt-to-equity ratio of 0.51. The stock has a market cap of $116.35 billion, a PE ratio of 27.75, a P/E/G ratio of 2.57 and a beta of 0.84.

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

Medtronic Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, January 10th. Shareholders of record on Friday, December 27th were issued a dividend of $0.70 per share. The ex-dividend date was Friday, December 27th. This represents a $2.80 dividend on an annualized basis and a yield of 3.09%. Medtronic’s dividend payout ratio (DPR) is presently 85.63%.

Analysts Set New Price Targets

A number of equities analysts recently commented on MDT shares. Royal Bank of Canada raised shares of Medtronic from a “sector perform” rating to an “outperform” rating and boosted their price objective for the stock from $98.00 to $105.00 in a research note on Thursday, October 10th. Wells Fargo & Company reduced their price objective 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. Needham & Company LLC reissued a “hold” rating on shares of Medtronic in a research note on Monday, November 18th. Robert W. Baird reduced their price objective 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. Finally, Sanford C. Bernstein boosted their price objective on shares of Medtronic from $96.00 to $97.00 and gave the stock an “outperform” rating in a research note on Wednesday, November 20th. One investment 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. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $95.00.

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.