Oak Thistle LLC Purchases New Position in Medtronic plc (NYSE:MDT)

Oak Thistle LLC acquired a new position in shares of Medtronic plc (NYSE:MDT) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 15,865 shares of the medical technology company’s stock, valued at approximately $1,267,000.

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

Medtronic Price Performance

Shares of MDT opened at $85.16 on Wednesday. The company has a quick ratio of 1.39, a current ratio of 1.84 and a debt-to-equity ratio of 0.51. The stock has a market cap of $109.20 billion, a PE ratio of 26.04, a PEG ratio of 2.33 and a beta of 0.83. Medtronic plc has a 12-month low of $75.96 and a 12-month high of $92.68. The business has a 50-day simple moving average of $83.74 and a two-hundred day simple moving average of $85.01.

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

Medtronic Announces Dividend

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

Insider Buying and Selling

In related news, EVP Brett A. Wall sold 9,850 shares of the company’s stock in a transaction that occurred on 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 $3,273,330.28. This represents a 19.48 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. 0.20% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on MDT. Evercore ISI increased their price target on Medtronic from $100.00 to $104.00 and gave the stock an “outperform” rating in a research report on Tuesday, October 1st. Barclays boosted their price target on Medtronic from $105.00 to $109.00 and gave the company an “overweight” rating in a research note on Tuesday, November 26th. Needham & Company LLC reiterated a “hold” rating on shares of Medtronic in a research note on Monday, November 18th. Robert W. Baird dropped their target price 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. Finally, JPMorgan Chase & Co. reduced their price target on shares of Medtronic from $99.00 to $96.00 and set a “neutral” rating on the stock in a research report on Friday, November 15th. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $95.00.

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.