Medtronic plc (NYSE:MDT) Shares Bought by Tocqueville Asset Management L.P.

Tocqueville Asset Management L.P. grew its position in shares of Medtronic plc (NYSE:MDT) by 0.1% during the fourth quarter, HoldingsChannel reports. The firm owned 192,131 shares of the medical technology company’s stock after buying an additional 180 shares during the period. Tocqueville Asset Management L.P.’s holdings in Medtronic were worth $15,347,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in MDT. Flagship Wealth Advisors LLC acquired a new position in Medtronic in the 4th quarter worth $69,000. TCTC Holdings LLC lifted its stake in shares of Medtronic by 3.4% in the fourth quarter. TCTC Holdings LLC now owns 39,718 shares of the medical technology company’s stock worth $3,173,000 after acquiring an additional 1,301 shares in the last quarter. Parallel Advisors LLC boosted its holdings in Medtronic by 7.6% in the fourth quarter. Parallel Advisors LLC now owns 19,836 shares of the medical technology company’s stock valued at $1,585,000 after purchasing an additional 1,407 shares during the last quarter. Cibc World Markets Corp grew its stake in Medtronic by 16.2% during the 4th quarter. Cibc World Markets Corp now owns 202,349 shares of the medical technology company’s stock valued at $16,164,000 after purchasing an additional 28,273 shares in the last quarter. Finally, Gold Investment Management Ltd. increased its holdings in Medtronic by 1.4% during the 4th quarter. Gold Investment Management Ltd. now owns 31,000 shares of the medical technology company’s stock worth $2,476,000 after purchasing an additional 441 shares during the last quarter. 82.06% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

MDT has been the subject of a number of recent analyst reports. Royal Bank of Canada reissued an “outperform” rating and set a $105.00 price target on shares of Medtronic in a research report on Wednesday, February 19th. Wells Fargo & Company dropped 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 Wednesday, February 19th. Sanford C. Bernstein boosted their price objective on Medtronic from $96.00 to $97.00 and gave the company an “outperform” rating in a report on Wednesday, November 20th. Finally, Robert W. Baird lifted their target price on Medtronic from $90.00 to $91.00 and gave the stock a “neutral” rating in a research report on Wednesday, February 19th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $96.07.

Medtronic Stock Up 0.2 %

MDT stock opened at $93.30 on Tuesday. The stock has a market cap of $119.66 billion, a PE ratio of 28.36, a price-to-earnings-growth ratio of 2.22 and a beta of 0.80. The firm’s 50-day simple moving average is $89.88 and its 200 day simple moving average is $87.99. Medtronic plc has a fifty-two week low of $75.96 and a fifty-two week high of $96.25. The company has a quick ratio of 1.39, a current ratio of 1.90 and a debt-to-equity ratio of 0.48.

Medtronic (NYSE:MDT) last issued its quarterly earnings data on Tuesday, February 18th. The medical technology company reported $1.39 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.36 by $0.03. The business had revenue of $8.29 billion during the quarter, compared to analyst estimates of $8.33 billion. Medtronic had a return on equity of 14.07% and a net margin of 12.83%. As a group, sell-side analysts predict that Medtronic plc will post 5.46 EPS for the current year.

Medtronic Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, April 11th. Investors of record on Friday, March 28th will be paid a dividend of $0.70 per share. This represents a $2.80 dividend on an annualized basis and a dividend yield of 3.00%. The ex-dividend date of this dividend is Friday, March 28th. Medtronic’s dividend payout ratio is currently 85.11%.

Insider Activity at Medtronic

In other news, EVP Brett A. Wall sold 9,850 shares of the stock in a transaction that occurred on Wednesday, January 8th. The shares were sold at an average price of $80.41, for a total value 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 $3,273,330.28. This trade represents a 19.48 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 0.20% of the stock is currently owned by insiders.

About Medtronic

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.