Medtronic plc (NYSE:MDT) Shares Acquired by Brookstone Capital Management

Brookstone Capital Management lifted its stake in shares of Medtronic plc (NYSE:MDT) by 11.4% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 20,026 shares of the medical technology company’s stock after purchasing an additional 2,049 shares during the period. Brookstone Capital Management’s holdings in Medtronic were worth $1,600,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. Fiduciary Alliance LLC acquired a new position in Medtronic in the fourth quarter valued at approximately $470,000. Clark & Stuart Inc purchased a new stake in Medtronic in the fourth quarter valued at approximately $509,000. Czech National Bank raised its position in Medtronic by 6.4% in the fourth quarter. Czech National Bank now owns 278,065 shares of the medical technology company’s stock valued at $22,212,000 after purchasing an additional 16,786 shares during the period. Graypoint LLC raised its position in Medtronic by 7.6% in the fourth quarter. Graypoint LLC now owns 6,934 shares of the medical technology company’s stock valued at $554,000 after purchasing an additional 490 shares during the period. Finally, Lynch & Associates IN raised its position in Medtronic by 26.4% in the fourth quarter. Lynch & Associates IN now owns 9,259 shares of the medical technology company’s stock valued at $740,000 after purchasing an additional 1,935 shares during the period. 82.06% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Medtronic

In other news, EVP Brett A. Wall sold 9,850 shares of the stock in a transaction dated Wednesday, January 8th. The shares were 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 Securities & Exchange Commission, which is accessible through this link. 0.20% of the stock is currently owned by insiders.

Analyst Ratings Changes

A number of analysts have issued reports on MDT shares. Robert W. Baird cut their target price on Medtronic from $96.00 to $93.00 and set a “neutral” rating on the stock in a research report on Wednesday, November 20th. Needham & Company LLC reissued a “hold” rating on shares of Medtronic in a research report on Monday, November 18th. Wells Fargo & Company cut their target price on Medtronic from $106.00 to $98.00 and set an “overweight” rating on the stock in a research report on Wednesday, November 20th. Sanford C. Bernstein boosted their target price on Medtronic from $96.00 to $97.00 and gave the company an “outperform” rating in a research report on Wednesday, November 20th. Finally, Citigroup boosted their target price on Medtronic from $85.00 to $92.00 and gave the company a “neutral” rating in a research report on Tuesday, October 1st. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, Medtronic currently has a consensus rating of “Hold” and a consensus target price of $95.00.

Medtronic Stock Performance

NYSE MDT opened at $85.33 on Thursday. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.84 and a quick ratio of 1.39. Medtronic plc has a 1 year low of $75.96 and a 1 year high of $92.68. The company has a market capitalization of $109.42 billion, a PE ratio of 26.09, a P/E/G ratio of 2.33 and a beta of 0.83. The company has a fifty day moving average of $83.74 and a two-hundred day moving average of $85.01.

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

Medtronic Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, January 10th. Shareholders of record on Friday, December 27th were paid a $0.70 dividend. The ex-dividend date was Friday, December 27th. This represents a $2.80 annualized dividend and a yield of 3.28%. Medtronic’s dividend payout ratio is presently 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.