Intergy Private Wealth LLC Invests $202,000 in Medtronic plc (NYSE:MDT)

Intergy Private Wealth LLC purchased a new stake in shares of Medtronic plc (NYSE:MDT) in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm purchased 2,527 shares of the medical technology company’s stock, valued at approximately $202,000.

A number of other hedge funds have also bought and sold shares of the business. Fiduciary Advisors Inc. purchased a new position in shares of Medtronic in the 4th quarter worth about $36,000. Cibc World Market Inc. raised its position in Medtronic by 3.7% in the fourth quarter. Cibc World Market Inc. now owns 272,444 shares of the medical technology company’s stock worth $21,763,000 after acquiring an additional 9,689 shares during the period. Crews Bank & Trust purchased a new position in Medtronic in the fourth quarter valued at about $755,000. OLD Second National Bank of Aurora grew its position in shares of Medtronic by 0.3% during the 4th quarter. OLD Second National Bank of Aurora now owns 36,303 shares of the medical technology company’s stock valued at $2,900,000 after acquiring an additional 121 shares during the period. Finally, Busey Bank increased its position in Medtronic by 1.5% in the fourth quarter. Busey Bank now owns 155,084 shares of the medical technology company’s stock worth $12,388,000 after buying an additional 2,289 shares during the last quarter. 82.06% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other Medtronic news, EVP Brett A. Wall sold 9,850 shares of the firm’s stock in a transaction on Wednesday, January 8th. The stock was sold at an average price of $80.41, for a total transaction of $792,038.50. Following the completion of the transaction, the executive vice president now owns 40,708 shares of the company’s stock, valued at approximately $3,273,330.28. This trade represents a 19.48 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. 0.20% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on the stock. Royal Bank of Canada raised shares of Medtronic from a “sector perform” rating to an “outperform” rating and boosted their target price for the company from $98.00 to $105.00 in a report on Thursday, October 10th. Barclays increased their price target on shares of Medtronic from $105.00 to $109.00 and gave the stock an “overweight” rating in a report on Tuesday, November 26th. Needham & Company LLC reaffirmed a “hold” rating on shares of Medtronic in a research note on Monday, November 18th. Wells Fargo & Company reduced their price objective on Medtronic from $106.00 to $98.00 and set an “overweight” rating on the stock in a research report on Wednesday, November 20th. Finally, Robert W. Baird cut their target price on Medtronic from $96.00 to $93.00 and set a “neutral” rating for the company in a research note on Wednesday, November 20th. One research analyst has rated the stock with a sell rating, nine have issued a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Hold” and a consensus price target of $95.00.

Medtronic Trading Up 0.7 %

MDT opened at $92.01 on Friday. The firm has a market capitalization of $117.98 billion, a price-to-earnings ratio of 28.14, a PEG ratio of 2.59 and a beta of 0.83. Medtronic plc has a one year low of $75.96 and a one year high of $93.08. The business has a 50 day simple moving average of $84.14 and a two-hundred day simple moving average of $85.87. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.84 and a quick ratio of 1.39.

Medtronic (NYSE:MDT) last released 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 business had revenue of $8.40 billion for the quarter, compared to analysts’ expectations of $8.27 billion. During the same quarter in the previous year, the business posted $1.25 earnings per share. The firm’s revenue for the quarter was up 5.2% compared to the same quarter last year. Analysts predict that Medtronic plc will post 5.45 EPS for the current year.

Medtronic Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, January 10th. Investors of record on Friday, December 27th were paid a $0.70 dividend. This represents a $2.80 dividend on an annualized basis and a yield of 3.04%. The ex-dividend date of this dividend was Friday, December 27th. Medtronic’s payout ratio is currently 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.