Fidelis Capital Partners LLC Boosts Stake in Medtronic plc (NYSE:MDT)

Fidelis Capital Partners LLC increased its position in shares of Medtronic plc (NYSE:MDT) by 29.7% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 3,143 shares of the medical technology company’s stock after buying an additional 720 shares during the quarter. Fidelis Capital Partners LLC’s holdings in Medtronic were worth $251,000 as of its most recent SEC filing.

Other institutional investors also recently added to or reduced their stakes in the company. Copley Financial Group Inc. acquired a new position in shares of Medtronic in the 3rd quarter valued at $694,000. Olstein Capital Management L.P. grew its position in Medtronic by 19.2% during the 3rd quarter. Olstein Capital Management L.P. now owns 87,000 shares of the medical technology company’s stock worth $7,833,000 after purchasing an additional 14,000 shares during the last quarter. Franklin Street Advisors Inc. NC increased its stake in Medtronic by 32.6% in the fourth quarter. Franklin Street Advisors Inc. NC now owns 73,517 shares of the medical technology company’s stock valued at $5,873,000 after purchasing an additional 18,057 shares during the period. Y Intercept Hong Kong Ltd raised its holdings in shares of Medtronic by 322.6% in the third quarter. Y Intercept Hong Kong Ltd now owns 73,593 shares of the medical technology company’s stock valued at $6,626,000 after buying an additional 56,178 shares during the last quarter. Finally, Czech National Bank boosted its stake in shares of Medtronic by 6.4% during the fourth quarter. Czech National Bank now owns 278,065 shares of the medical technology company’s stock worth $22,212,000 after buying an additional 16,786 shares during the period. Institutional investors and hedge funds own 82.06% of the company’s stock.

Insider Buying and Selling at Medtronic

In other Medtronic news, EVP Brett A. Wall sold 12,437 shares of the company’s stock in a transaction dated Friday, January 24th. The shares were 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. This represents a 23.28 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 0.20% of the stock is currently owned by insiders.

Medtronic Trading Down 1.3 %

Shares of Medtronic stock opened at $93.09 on Wednesday. The company has a 50-day moving average of $87.57 and a two-hundred day moving average of $87.63. Medtronic plc has a 12-month low of $75.96 and a 12-month high of $95.57. The company has a current ratio of 1.90, a quick ratio of 1.39 and a debt-to-equity ratio of 0.48. The stock has a market cap of $119.40 billion, a PE ratio of 28.30, a price-to-earnings-growth ratio of 2.22 and a beta of 0.84.

Medtronic (NYSE:MDT) last released its quarterly earnings data on Tuesday, February 18th. The medical technology company reported $1.39 earnings per share for the quarter, beating the consensus estimate of $1.36 by $0.03. The firm had revenue of $8.29 billion during the quarter, compared to the consensus estimate of $8.33 billion. Medtronic had a return on equity of 14.07% and a net margin of 12.83%. On average, research analysts anticipate that Medtronic plc will post 5.46 EPS 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 dividend on an annualized basis and a yield of 3.01%. Medtronic’s payout ratio is 85.11%.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on MDT shares. JPMorgan Chase & Co. dropped their price target on Medtronic from $99.00 to $96.00 and set a “neutral” rating on the stock in a research report on Friday, November 15th. Wells Fargo & Company dropped their target price on Medtronic from $106.00 to $98.00 and set an “overweight” rating on the stock in a report on Wednesday, November 20th. Sanford C. Bernstein increased their price target on Medtronic from $96.00 to $97.00 and gave the stock an “outperform” rating in a report on Wednesday, November 20th. Citigroup raised shares of Medtronic from a “neutral” rating to a “buy” rating and boosted their price objective for the company from $92.00 to $107.00 in a research note on Tuesday. Finally, Royal Bank of Canada restated an “outperform” rating and issued a $105.00 target price on shares of Medtronic in a research note on Wednesday, February 19th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating, six have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $96.07.

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.