Accurate Wealth Management LLC Acquires 159 Shares of Medtronic plc (NYSE:MDT)

Accurate Wealth Management LLC increased its holdings in shares of Medtronic plc (NYSE:MDT) by 3.7% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 4,421 shares of the medical technology company’s stock after buying an additional 159 shares during the period. Accurate Wealth Management LLC’s holdings in Medtronic were worth $357,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in the business. Copley Financial Group Inc. bought a new stake in shares of Medtronic in the third quarter worth $694,000. Olstein Capital Management L.P. lifted its holdings 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 buying an additional 14,000 shares during the period. Franklin Street Advisors Inc. NC grew its position in shares of Medtronic by 32.6% in the 4th quarter. Franklin Street Advisors Inc. NC now owns 73,517 shares of the medical technology company’s stock valued at $5,873,000 after buying an additional 18,057 shares during the last quarter. Y Intercept Hong Kong Ltd raised its position in shares of Medtronic by 322.6% during the third quarter. Y Intercept Hong Kong Ltd now owns 73,593 shares of the medical technology company’s stock worth $6,626,000 after acquiring an additional 56,178 shares during the last quarter. Finally, Ferguson Wellman Capital Management Inc. acquired a new position in shares of Medtronic in the third quarter worth approximately $9,486,000. 82.06% of the stock is owned by institutional investors.

Medtronic Price Performance

Shares of MDT opened at $87.19 on Friday. The business’s fifty day moving average is $83.65 and its 200 day moving average is $85.01. Medtronic plc has a 12-month low of $75.96 and a 12-month high of $92.68. 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 stock has a market cap of $111.80 billion, a P/E ratio of 26.66, a P/E/G ratio of 2.28 and a beta of 0.83.

Medtronic (NYSE:MDT) last released its quarterly earnings data on Tuesday, November 19th. The medical technology company reported $1.26 earnings per share for the quarter, beating analysts’ consensus estimates of $1.25 by $0.01. The firm had revenue of $8.40 billion for the quarter, compared to analyst estimates of $8.27 billion. Medtronic had a net margin of 13.00% and a return on equity of 13.79%. The business’s quarterly revenue was up 5.2% compared to the same quarter last year. During the same period last year, the firm earned $1.25 earnings per share. Sell-side analysts anticipate that Medtronic plc will post 5.45 earnings per share for the current fiscal year.

Medtronic Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, January 10th. Shareholders of record on Friday, December 27th were issued a dividend of $0.70 per share. This represents a $2.80 dividend on an annualized basis and a yield of 3.21%. The ex-dividend date of this dividend was Friday, December 27th. Medtronic’s dividend payout ratio is currently 85.63%.

Analyst Ratings Changes

A number of analysts have weighed in on MDT shares. Wells Fargo & Company decreased their target price on shares of Medtronic from $106.00 to $98.00 and set an “overweight” rating for the company in a research report on Wednesday, November 20th. Evercore ISI increased their price objective on shares of Medtronic from $100.00 to $104.00 and gave the stock an “outperform” rating in a research report on Tuesday, October 1st. Barclays boosted their target price on shares of 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 upgraded Medtronic from a “sector perform” rating to an “outperform” rating and increased their price target for the stock from $98.00 to $105.00 in a report on Thursday, October 10th. Finally, Sanford C. Bernstein boosted their price objective on Medtronic from $96.00 to $97.00 and gave the company an “outperform” rating in a research note on Wednesday, November 20th. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating, six have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $95.00.

Insider Transactions at Medtronic

In related news, EVP Brett A. Wall sold 9,850 shares of the company’s stock in a transaction on Wednesday, January 8th. The stock was sold at an average price of $80.41, for a total transaction of $792,038.50. Following the completion of the sale, the executive vice president now owns 40,708 shares in the company, valued at approximately $3,273,330.28. This represents a 19.48 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Company insiders own 0.20% of the company’s stock.

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.