Motley Fool Wealth Management LLC boosted its stake in shares of Medtronic PLC (NYSE:MDT) by 2.5% during the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 191,261 shares of the medical technology company’s stock after buying an additional 4,675 shares during the period. Medtronic makes up approximately 1.3% of Motley Fool Wealth Management LLC’s holdings, making the stock its 25th largest holding. Motley Fool Wealth Management LLC’s holdings in Medtronic were worth $17,397,000 at the end of the most recent reporting period.
A number of other large investors also recently added to or reduced their stakes in MDT. Tributary Capital Management LLC purchased a new stake in Medtronic in the fourth quarter worth $27,000. Highwater Wealth Management LLC purchased a new stake in Medtronic in the fourth quarter worth $39,000. IMS Capital Management purchased a new stake in Medtronic in the third quarter worth $41,000. Contravisory Investment Management Inc. increased its stake in Medtronic by 220.0% in the fourth quarter. Contravisory Investment Management Inc. now owns 480 shares of the medical technology company’s stock worth $44,000 after purchasing an additional 330 shares during the period. Finally, Karp Capital Management Corp purchased a new stake in Medtronic in the fourth quarter worth $46,000. Institutional investors own 80.59% of the company’s stock.
Shares of NYSE:MDT opened at $93.33 on Friday. Medtronic PLC has a 52-week low of $76.41 and a 52-week high of $100.15. The stock has a market capitalization of $123.98 billion, a PE ratio of 19.57, a PEG ratio of 2.40 and a beta of 0.82. The company has a debt-to-equity ratio of 0.47, a current ratio of 2.36 and a quick ratio of 1.92.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, April 12th. Stockholders of record on Friday, March 22nd will be paid a $0.50 dividend. This represents a $2.00 annualized dividend and a dividend yield of 2.14%. The ex-dividend date of this dividend is Thursday, March 21st. Medtronic’s payout ratio is 41.93%.
A number of equities analysts have recently issued reports on MDT shares. BTIG Research raised Medtronic from a “neutral” rating to a “buy” rating and set a $100.00 price target on the stock in a research report on Tuesday, January 15th. JPMorgan Chase & Co. raised Medtronic from a “neutral” rating to an “overweight” rating and increased their price target for the stock from $100.00 to $109.00 in a research report on Wednesday, December 19th. Oppenheimer reissued a “buy” rating and set a $104.00 price target on shares of Medtronic in a research report on Tuesday, November 20th. Barclays dropped their price target on Medtronic from $113.00 to $104.00 and set an “overweight” rating on the stock in a research report on Tuesday, January 8th. Finally, ValuEngine downgraded Medtronic from a “buy” rating to a “hold” rating in a research report on Monday, January 7th. Nine analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has issued a strong buy rating to the company. Medtronic currently has a consensus rating of “Buy” and a consensus target price of $104.32.
In other news, CFO Karen L. Parkhill acquired 3,000 shares of Medtronic stock in a transaction dated Wednesday, January 9th. The stock was purchased at an average cost of $83.87 per share, for a total transaction of $251,610.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Omar Ishrak acquired 12,000 shares of Medtronic stock in a transaction dated Wednesday, January 9th. The stock was purchased at an average price of $84.05 per share, with a total value of $1,008,600.00. The disclosure for this purchase can be found here. Company insiders own 0.28% of the company’s stock.
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.
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