Graypoint LLC Purchases 490 Shares of Medtronic plc (NYSE:MDT)

Graypoint LLC grew its position in Medtronic plc (NYSE:MDT) by 7.6% in the fourth quarter, HoldingsChannel.com reports. The firm owned 6,934 shares of the medical technology company’s stock after acquiring an additional 490 shares during the period. Graypoint LLC’s holdings in Medtronic were worth $554,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Fortitude Family Office LLC purchased a new position in shares of Medtronic during the 3rd quarter valued at $27,000. Highline Wealth Partners LLC bought a new position in shares of Medtronic in the third quarter worth about $27,000. Darwin Wealth Management LLC bought a new position in shares of Medtronic in the third quarter worth about $27,000. J. Stern & Co. LLP bought a new stake in Medtronic during the 3rd quarter valued at approximately $30,000. Finally, Chelsea Counsel Co. purchased a new position in Medtronic in the 3rd quarter worth approximately $45,000. 82.06% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Medtronic

In other Medtronic news, EVP Brett A. Wall sold 9,850 shares of the company’s stock in a transaction dated Wednesday, January 8th. The shares were sold at an average price of $80.41, for a total value of $792,038.50. Following the transaction, 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 position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.20% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on MDT shares. Barclays increased their price objective on shares of Medtronic from $105.00 to $109.00 and gave the company an “overweight” rating in a report on Tuesday, November 26th. Evercore ISI lifted their price target on shares of Medtronic from $100.00 to $104.00 and gave the company an “outperform” rating in a report on Tuesday, October 1st. Sanford C. Bernstein raised their price objective on Medtronic from $96.00 to $97.00 and gave the company an “outperform” rating in a research report on Wednesday, November 20th. Wells Fargo & Company reduced 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. Finally, Needham & Company LLC reissued a “hold” rating on shares of Medtronic in a research note on Monday, November 18th. One 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 stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $95.00.

Medtronic Trading Down 2.5 %

MDT stock opened at $80.62 on Friday. Medtronic plc has a twelve month low of $75.96 and a twelve month high of $92.68. The stock has a market capitalization of $103.38 billion, a price-to-earnings ratio of 24.65, a price-to-earnings-growth ratio of 2.33 and a beta of 0.83. 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’s fifty day simple moving average is $83.99 and its two-hundred day simple moving average is $84.91.

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

Medtronic Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, January 10th. Investors of record on Friday, December 27th were paid a dividend of $0.70 per share. This represents a $2.80 dividend on an annualized basis and a dividend yield of 3.47%. The ex-dividend date of this dividend was Friday, December 27th. Medtronic’s dividend payout ratio is currently 85.63%.

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.