Horizon Investments LLC Has $1.92 Million Stock Holdings in Medtronic plc (NYSE:MDT)

Horizon Investments LLC raised its stake in Medtronic plc (NYSE:MDT) by 2.1% in the 4th quarter, Holdings Channel.com reports. The fund owned 23,970 shares of the medical technology company’s stock after buying an additional 500 shares during the quarter. Horizon Investments LLC’s holdings in Medtronic were worth $1,915,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in MDT. Mainstream Capital Management LLC acquired a new position in Medtronic in the 4th quarter valued at $26,000. Darwin Wealth Management LLC acquired a new position in Medtronic in the 3rd quarter valued at $27,000. Stephens Consulting LLC raised its holdings in Medtronic by 145.7% in the 4th quarter. Stephens Consulting LLC now owns 344 shares of the medical technology company’s stock valued at $27,000 after acquiring an additional 204 shares in the last quarter. Rakuten Securities Inc. raised its holdings in Medtronic by 753.8% in the 4th quarter. Rakuten Securities Inc. now owns 333 shares of the medical technology company’s stock valued at $27,000 after acquiring an additional 294 shares in the last quarter. Finally, J. Stern & Co. LLP acquired a new position in Medtronic in the 3rd quarter valued at $30,000. 82.06% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Medtronic

In related news, EVP Brett A. Wall sold 12,437 shares of the company’s stock in a transaction dated Friday, January 24th. The stock was sold at an average price of $90.00, for a total transaction of $1,119,330.00. Following the sale, the executive vice president now owns 40,979 shares in the company, valued at $3,688,110. This represents a 23.28 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 0.20% of the company’s stock.

Medtronic Trading Down 1.3 %

NYSE MDT opened at $92.10 on Wednesday. The business’s 50-day moving average price is $90.12 and its two-hundred day moving average price is $88.02. Medtronic plc has a 12 month low of $75.96 and a 12 month high of $96.25. The firm has a market capitalization of $118.12 billion, a PE ratio of 27.99, a price-to-earnings-growth ratio of 2.22 and a beta of 0.80. The company has a current ratio of 1.90, a quick ratio of 1.39 and a debt-to-equity ratio of 0.48.

Medtronic (NYSE:MDT) last released its quarterly earnings results on Tuesday, February 18th. The medical technology company reported $1.39 EPS for the quarter, beating analysts’ consensus estimates of $1.36 by $0.03. Medtronic had a return on equity of 14.07% and a net margin of 12.83%. The firm had revenue of $8.29 billion for the quarter, compared to analyst estimates of $8.33 billion. On average, analysts expect that Medtronic plc will post 5.46 EPS for the current year.

Medtronic Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, April 11th. Shareholders of record on Friday, March 28th will be given a $0.70 dividend. The ex-dividend date of this dividend is Friday, March 28th. This represents a $2.80 dividend on an annualized basis and a dividend yield of 3.04%. Medtronic’s dividend payout ratio (DPR) is presently 85.11%.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on MDT shares. Barclays lifted their price objective on Medtronic from $105.00 to $109.00 and gave the company an “overweight” rating in a report on Tuesday, November 26th. Royal Bank of Canada reissued an “outperform” rating and set a $105.00 price target on shares of Medtronic in a report on Wednesday, February 19th. Wells Fargo & Company lowered their price target on Medtronic from $106.00 to $98.00 and set an “overweight” rating for the company in a report on Wednesday, November 20th. Needham & Company LLC reissued a “hold” rating on shares of Medtronic in a report on Wednesday, February 19th. Finally, Robert W. Baird boosted their price target on Medtronic from $90.00 to $91.00 and gave the stock a “neutral” rating in a report on Wednesday, February 19th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average 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.