ST Germain D J Co. Inc. Purchases 1,796 Shares of Medtronic plc (NYSE:MDT)

ST Germain D J Co. Inc. grew its position in Medtronic plc (NYSE:MDT) by 2.3% in the fourth quarter, HoldingsChannel.com reports. The fund owned 81,301 shares of the medical technology company’s stock after buying an additional 1,796 shares during the quarter. ST Germain D J Co. Inc.’s holdings in Medtronic were worth $6,494,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also modified their holdings of the company. Copley Financial Group Inc. bought a new position in Medtronic in the 3rd quarter valued at $694,000. Olstein Capital Management L.P. increased its stake in shares of Medtronic by 19.2% in the third quarter. Olstein Capital Management L.P. now owns 87,000 shares of the medical technology company’s stock valued at $7,833,000 after buying an additional 14,000 shares in the last quarter. Y Intercept Hong Kong Ltd raised its holdings in shares of Medtronic by 322.6% in the third quarter. Y Intercept Hong Kong Ltd now owns 73,593 shares of the medical technology company’s stock valued at $6,626,000 after buying an additional 56,178 shares during the last quarter. Ferguson Wellman Capital Management Inc. acquired a new position in Medtronic during the 3rd quarter worth about $9,486,000. Finally, Soltis Investment Advisors LLC grew its holdings in Medtronic by 30.0% during the 3rd quarter. Soltis Investment Advisors LLC now owns 88,110 shares of the medical technology company’s stock worth $7,933,000 after acquiring an additional 20,352 shares during the last quarter. 82.06% of the stock is owned by institutional investors and hedge funds.

Medtronic Trading Down 1.8 %

NYSE MDT traded down $1.52 during trading on Friday, reaching $81.16. 2,149,798 shares of the stock traded hands, compared to its average volume of 6,563,060. Medtronic plc has a fifty-two week low of $75.96 and a fifty-two week 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 firm has a market cap of $104.07 billion, a price-to-earnings ratio of 24.82, a price-to-earnings-growth ratio of 2.33 and a beta of 0.83. The stock’s 50-day moving average price is $84.17 and its 200 day moving average price is $84.89.

Medtronic (NYSE:MDT) last announced its quarterly earnings results 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. The company had revenue of $8.40 billion during 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 firm’s revenue was up 5.2% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.25 EPS. Analysts predict that Medtronic plc will post 5.45 EPS for the current year.

Medtronic Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, January 10th. Stockholders of record on Friday, December 27th will be given a dividend of $0.70 per share. This represents a $2.80 dividend on an annualized basis and a dividend yield of 3.45%. The ex-dividend date is Friday, December 27th. Medtronic’s dividend payout ratio is currently 85.63%.

Analysts Set New Price Targets

A number of equities analysts have weighed in on MDT shares. Needham & Company LLC reaffirmed a “hold” rating on shares of Medtronic in a research note on Monday, November 18th. Wells Fargo & Company dropped their price objective 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. Sanford C. Bernstein increased their price objective on Medtronic from $96.00 to $97.00 and gave the company an “outperform” rating in a research report on Wednesday, November 20th. Evercore ISI boosted their target price on Medtronic from $100.00 to $104.00 and gave the stock an “outperform” rating in a research report on Tuesday, October 1st. Finally, Robert W. Baird cut their price target on Medtronic from $96.00 to $93.00 and set a “neutral” rating on the stock in a research note on Wednesday, November 20th. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating, six have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $95.00.

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.