Caprock Group LLC Has $3.85 Million Stock Holdings in Medtronic plc (NYSE:MDT)

Caprock Group LLC raised its position in Medtronic plc (NYSE:MDT) by 12.6% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 47,767 shares of the medical technology company’s stock after purchasing an additional 5,363 shares during the quarter. Caprock Group LLC’s holdings in Medtronic were worth $3,849,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of MDT. Fortitude Family Office LLC bought a new stake in shares of Medtronic in the 3rd quarter valued at approximately $27,000. Darwin Wealth Management LLC bought a new stake in Medtronic in the third quarter worth approximately $27,000. Highline Wealth Partners LLC bought a new stake in Medtronic in the third quarter worth approximately $27,000. J. Stern & Co. LLP bought a new position in shares of Medtronic during the 3rd quarter valued at $30,000. Finally, Fiduciary Advisors Inc. acquired a new stake in shares of Medtronic in the 4th quarter valued at $36,000. 82.06% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Medtronic

In related news, EVP Brett A. Wall sold 12,437 shares of the business’s stock in a transaction on Friday, January 24th. The stock was sold at an average price of $90.00, for a total value of $1,119,330.00. Following the sale, the executive vice president now owns 40,979 shares of the company’s stock, valued at $3,688,110. The trade was a 23.28 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.20% of the stock is currently owned by insiders.

Medtronic Trading Down 1.4 %

Shares of MDT opened at $90.74 on Friday. The stock’s 50-day moving average price is $84.29 and its 200 day moving average price is $85.91. 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 firm has a market capitalization of $116.35 billion, a price-to-earnings ratio of 27.75, a P/E/G ratio of 2.59 and a beta of 0.83. Medtronic plc has a 12-month low of $75.96 and a 12-month high of $93.08.

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 analysts’ consensus estimates of $1.25 by $0.01. The business had revenue of $8.40 billion for 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%. Medtronic’s quarterly revenue was up 5.2% on a year-over-year basis. During the same period in the previous year, the business posted $1.25 earnings per share. As a group, research analysts predict that Medtronic plc will post 5.45 earnings per share for the current year.

Medtronic Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, January 10th. Stockholders of record on Friday, December 27th were given a dividend of $0.70 per share. The ex-dividend date was Friday, December 27th. This represents a $2.80 annualized dividend and a dividend yield of 3.09%. Medtronic’s dividend payout ratio (DPR) is currently 85.63%.

Analysts Set New Price Targets

Several equities analysts have commented on MDT shares. JPMorgan Chase & Co. lowered their target price 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. Sanford C. Bernstein increased 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. Barclays boosted their target price on Medtronic from $105.00 to $109.00 and gave the stock an “overweight” rating in a report on Tuesday, November 26th. Robert W. Baird lowered their price target on Medtronic from $96.00 to $93.00 and set a “neutral” rating on the stock in a report on Wednesday, November 20th. Finally, Needham & Company LLC restated a “hold” rating on shares of Medtronic in a research note on Monday, November 18th. One analyst has rated the stock with a sell rating, nine have issued a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, Medtronic currently has an average rating of “Hold” and a consensus price target 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.