Oak Thistle LLC Makes New $1.27 Million Investment in Medtronic plc (NYSE:MDT)

Oak Thistle LLC acquired a new stake in Medtronic plc (NYSE:MDT) during the fourth quarter, Holdings Channel.com reports. The firm acquired 15,865 shares of the medical technology company’s stock, valued at approximately $1,267,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Pines Wealth Management LLC acquired a new position in Medtronic in the fourth quarter valued at approximately $310,000. SeaCrest Wealth Management LLC increased its stake in shares of Medtronic by 3.3% in the 4th quarter. SeaCrest Wealth Management LLC now owns 7,967 shares of the medical technology company’s stock valued at $636,000 after acquiring an additional 251 shares in the last quarter. Accurate Wealth Management LLC boosted its stake in Medtronic by 3.7% during the fourth quarter. Accurate Wealth Management LLC now owns 4,421 shares of the medical technology company’s stock worth $357,000 after acquiring an additional 159 shares in the last quarter. Wynn Capital LLC boosted its stake in Medtronic by 10.1% during the fourth quarter. Wynn Capital LLC now owns 4,318 shares of the medical technology company’s stock worth $345,000 after acquiring an additional 397 shares in the last quarter. Finally, Oak Asset Management LLC grew its holdings in Medtronic by 3.0% in the fourth quarter. Oak Asset Management LLC now owns 39,637 shares of the medical technology company’s stock worth $3,166,000 after purchasing an additional 1,152 shares during the period. 82.06% of the stock is owned by institutional investors and hedge funds.

Medtronic Stock Up 4.1 %

MDT stock opened at $85.16 on Wednesday. The stock has a market cap of $109.20 billion, a P/E ratio of 26.04, a P/E/G ratio of 2.33 and a beta of 0.83. 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’s fifty day simple moving average is $83.74 and its two-hundred day simple moving average is $85.01. Medtronic plc has a 1-year low of $75.96 and a 1-year high of $92.68.

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. Medtronic had a net margin of 13.00% and a return on equity of 13.79%. The company had revenue of $8.40 billion during the quarter, compared to analyst estimates of $8.27 billion. During the same quarter in the prior year, the business earned $1.25 earnings per share. The firm’s revenue for the quarter was up 5.2% on a year-over-year basis. Analysts expect that Medtronic plc will post 5.45 EPS for the current 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 issued 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 dividend yield of 3.29%. Medtronic’s dividend payout ratio (DPR) is presently 85.63%.

Insider Buying and Selling

In related news, EVP Brett A. Wall sold 9,850 shares of the business’s stock in a transaction dated Wednesday, January 8th. The stock was sold at an average price of $80.41, for a total value of $792,038.50. Following the sale, the executive vice president now directly owns 40,708 shares in the company, valued at approximately $3,273,330.28. The trade was a 19.48 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 0.20% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

MDT has been the topic of a number of research analyst reports. Sanford C. Bernstein increased their price objective on shares of Medtronic from $96.00 to $97.00 and gave the stock an “outperform” rating in a research report on Wednesday, November 20th. Needham & Company LLC reiterated a “hold” rating on shares of Medtronic in a report on Monday, November 18th. Robert W. Baird lowered their target price on Medtronic from $96.00 to $93.00 and set a “neutral” rating on the stock in a research report on Wednesday, November 20th. JPMorgan Chase & Co. cut their target price on Medtronic from $99.00 to $96.00 and set a “neutral” rating on the stock in a report on Friday, November 15th. Finally, Citigroup boosted their price target on shares of Medtronic from $85.00 to $92.00 and gave the company a “neutral” rating in a research note on Tuesday, October 1st. One 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. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $95.00.

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.