Peterson Wealth Services Grows Position in Medtronic plc (NYSE:MDT)

Peterson Wealth Services increased its position in Medtronic plc (NYSE:MDT) by 3.9% in the fourth quarter, HoldingsChannel reports. The firm owned 18,254 shares of the medical technology company’s stock after purchasing an additional 686 shares during the quarter. Peterson Wealth Services’ holdings in Medtronic were worth $1,458,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in MDT. Fortitude Family Office LLC purchased a new position in shares of Medtronic in the 3rd quarter valued at approximately $27,000. Highline Wealth Partners LLC purchased a new position in shares of Medtronic in the 3rd quarter valued at approximately $27,000. Darwin Wealth Management LLC purchased a new position in shares of Medtronic in the 3rd quarter valued at approximately $27,000. Stephens Consulting LLC lifted its stake in shares of 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 purchasing an additional 204 shares during the period. Finally, J. Stern & Co. LLP purchased a new position in shares of Medtronic in the 3rd quarter valued at approximately $30,000. Hedge funds and other institutional investors own 82.06% of the company’s stock.

Medtronic Stock Up 0.9 %

Medtronic stock opened at $90.84 on Tuesday. The firm has a market cap of $116.48 billion, a price-to-earnings ratio of 27.78, a PEG ratio of 2.57 and a beta of 0.84. The stock has a fifty day simple moving average of $84.85 and a two-hundred day simple moving average of $86.48. Medtronic plc has a 12 month low of $75.96 and a 12 month high of $93.08. The company has a current ratio of 1.84, a quick ratio of 1.39 and a debt-to-equity ratio of 0.51.

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

Medtronic Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, January 10th. Investors of record on Friday, December 27th were issued a $0.70 dividend. This represents a $2.80 annualized dividend and a dividend yield of 3.08%. The ex-dividend date of this dividend was Friday, December 27th. Medtronic’s payout ratio is currently 85.63%.

Insider Buying and Selling

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

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on MDT shares. Sanford C. Bernstein raised their target price on Medtronic from $96.00 to $97.00 and gave the company an “outperform” rating in a research note on Wednesday, November 20th. Needham & Company LLC reiterated a “hold” rating on shares of Medtronic in a research note on Monday, November 18th. JPMorgan Chase & Co. lowered their price objective on Medtronic from $99.00 to $96.00 and set a “neutral” rating for the company in a research note on Friday, November 15th. Wells Fargo & Company lowered their price objective on Medtronic from $106.00 to $98.00 and set an “overweight” rating for the company in a research note on Wednesday, November 20th. Finally, Barclays lifted their price objective on Medtronic from $105.00 to $109.00 and gave the company an “overweight” rating in a research note on Tuesday, November 26th. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating, six have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $95.00.

Medtronic 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.