Insider Buying: Medtronic PLC (MDT) CFO Acquires 3,000 Shares of Stock

Medtronic PLC (NYSE:MDT) CFO Karen L. Parkhill bought 3,000 shares of Medtronic stock in a transaction dated Wednesday, January 9th. The stock was purchased at an average price of $83.87 per share, with a total value of $251,610.00. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website.

MDT opened at $84.84 on Friday. The stock has a market cap of $113.22 billion, a P/E ratio of 17.79, a P/E/G ratio of 2.19 and a beta of 0.93. The company has a debt-to-equity ratio of 0.48, a current ratio of 2.56 and a quick ratio of 2.11. Medtronic PLC has a fifty-two week low of $76.41 and a fifty-two week high of $100.15.

Medtronic (NYSE:MDT) last issued its earnings results on Tuesday, November 20th. The medical technology company reported $1.22 earnings per share for the quarter, topping analysts’ consensus estimates of $1.15 by $0.07. The firm had revenue of $7.48 billion during the quarter, compared to analyst estimates of $7.35 billion. Medtronic had a net margin of 7.44% and a return on equity of 13.51%. The company’s quarterly revenue was up 6.1% on a year-over-year basis. During the same quarter last year, the business earned $1.07 earnings per share. Analysts predict that Medtronic PLC will post 5.13 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Friday, January 18th. Shareholders of record on Friday, December 28th will be given a dividend of $0.50 per share. The ex-dividend date of this dividend is Thursday, December 27th. This represents a $2.00 dividend on an annualized basis and a yield of 2.36%. Medtronic’s dividend payout ratio is presently 41.93%.

A number of large investors have recently modified their holdings of the business. Visionary Asset Management Inc. bought a new position in Medtronic during the fourth quarter worth about $211,000. New England Research & Management Inc. purchased a new stake in shares of Medtronic in the fourth quarter worth about $821,000. First Hawaiian Bank lifted its holdings in shares of Medtronic by 6.4% in the fourth quarter. First Hawaiian Bank now owns 34,006 shares of the medical technology company’s stock worth $3,094,000 after buying an additional 2,060 shares in the last quarter. State of Alaska Department of Revenue lifted its holdings in shares of Medtronic by 3.4% in the fourth quarter. State of Alaska Department of Revenue now owns 196,530 shares of the medical technology company’s stock worth $17,874,000 after buying an additional 6,432 shares in the last quarter. Finally, Atalanta Sosnoff Capital LLC lifted its holdings in shares of Medtronic by 43.8% in the fourth quarter. Atalanta Sosnoff Capital LLC now owns 519,149 shares of the medical technology company’s stock worth $47,222,000 after buying an additional 158,182 shares in the last quarter. Hedge funds and other institutional investors own 80.79% of the company’s stock.

Several research firms have recently issued reports on MDT. Zacks Investment Research upgraded shares of Medtronic from a “hold” rating to a “buy” rating and set a $105.00 target price for the company in a research note on Tuesday, October 23rd. Barclays reduced their target price on shares of Medtronic from $113.00 to $104.00 and set an “overweight” rating for the company in a research note on Tuesday. Oppenheimer reiterated a “buy” rating and issued a $104.00 target price on shares of Medtronic in a research note on Tuesday, November 20th. Deutsche Bank began coverage on shares of Medtronic in a research note on Wednesday, January 2nd. They issued a “buy” rating and a $99.00 target price for the company. Finally, Credit Suisse Group began coverage on shares of Medtronic in a research note on Monday, December 17th. They issued an “outperform” rating and a $109.00 target price for the company. Nine analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. Medtronic presently has a consensus rating of “Buy” and a consensus price target of $104.38.

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Medtronic Company Profile

Medtronic plc develops, manufactures, distributes, and sells device-based medical therapies to hospitals, physicians, clinicians, and patients worldwide. It operates through four segments: Cardiac and Vascular Group, Minimally Invasive Therapies Group, Restorative Therapies Group, and Diabetes Group.

Further Reading: Certificate of Deposit (CD) For Risk Adverse Investors?

Insider Buying and Selling by Quarter for Medtronic (NYSE:MDT)

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