CCLA Investment Management Has $9.19 Million Position in Medtronic plc (NYSE:MDT)

CCLA Investment Management lifted its holdings in Medtronic plc (NYSE:MDT) by 14.8% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 115,054 shares of the medical technology company’s stock after purchasing an additional 14,876 shares during the quarter. CCLA Investment Management’s holdings in Medtronic were worth $9,191,000 as of its most recent SEC filing.

A number of other large investors have also bought and sold shares of the business. Clear Harbor Asset Management LLC boosted its holdings in shares of Medtronic by 1.2% in the third quarter. Clear Harbor Asset Management LLC now owns 9,558 shares of the medical technology company’s stock valued at $861,000 after buying an additional 111 shares during the period. Guardian Wealth Management Inc. boosted its stake in Medtronic by 0.9% in the 3rd quarter. Guardian Wealth Management Inc. now owns 13,131 shares of the medical technology company’s stock worth $1,182,000 after purchasing an additional 115 shares during the period. First PREMIER Bank boosted its stake in Medtronic by 1.8% in the 3rd quarter. First PREMIER Bank now owns 6,417 shares of the medical technology company’s stock worth $577,000 after purchasing an additional 116 shares during the period. First City Capital Management Inc. increased its holdings in Medtronic by 2.9% during the 3rd quarter. First City Capital Management Inc. now owns 4,123 shares of the medical technology company’s stock worth $371,000 after purchasing an additional 116 shares in the last quarter. Finally, Hardy Reed LLC raised its stake in shares of Medtronic by 4.4% in the 3rd quarter. Hardy Reed LLC now owns 2,743 shares of the medical technology company’s stock valued at $247,000 after purchasing an additional 116 shares during the period. 82.06% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other news, EVP Brett A. Wall sold 9,850 shares of the company’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 transaction, the executive vice president now owns 40,708 shares in the company, valued at approximately $3,273,330.28. This represents a 19.48 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 0.20% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on MDT shares. Needham & Company LLC reaffirmed a “hold” rating on shares of Medtronic in a research report on Monday, November 18th. Citigroup upped their price target on Medtronic from $85.00 to $92.00 and gave the stock a “neutral” rating in a research report on Tuesday, October 1st. Sanford C. Bernstein lifted their price objective on shares of Medtronic from $96.00 to $97.00 and gave the company an “outperform” rating in a report on Wednesday, November 20th. Wells Fargo & Company reduced their target price on shares of Medtronic from $106.00 to $98.00 and set an “overweight” rating for the company in a report on Wednesday, November 20th. Finally, JPMorgan Chase & Co. lowered their price target on shares of Medtronic from $99.00 to $96.00 and set a “neutral” rating on the stock in a research note on Friday, November 15th. One analyst has rated the stock with a sell rating, nine have assigned a hold rating, six have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $95.00.

Medtronic Stock Up 4.1 %

NYSE:MDT opened at $85.16 on Wednesday. Medtronic plc has a one year low of $75.96 and a one year high of $92.68. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.84 and a quick ratio of 1.39. The company has a market cap of $109.20 billion, a PE ratio of 26.04, a P/E/G ratio of 2.33 and a beta of 0.83. The firm’s 50 day simple moving average is $83.74 and its 200 day simple moving average is $85.01.

Medtronic (NYSE:MDT) last issued 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 company had revenue of $8.40 billion during the quarter, compared to analysts’ expectations of $8.27 billion. Medtronic had a return on equity of 13.79% and a net margin of 13.00%. The business’s quarterly revenue was up 5.2% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.25 earnings per share. On average, research analysts anticipate that Medtronic plc will post 5.45 earnings per share for the current year.

Medtronic Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, January 10th. Investors of record on Friday, December 27th were paid a dividend of $0.70 per share. This represents a $2.80 annualized dividend and a yield of 3.29%. The ex-dividend date of this dividend was Friday, December 27th. Medtronic’s dividend payout ratio is presently 85.63%.

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.