J.P. Marvel Investment Advisors LLC Has $4.56 Million Stock Position in Medtronic plc (NYSE:MDT)

J.P. Marvel Investment Advisors LLC lowered its holdings in shares of Medtronic plc (NYSE:MDT) by 0.4% in the 4th quarter, HoldingsChannel reports. The firm owned 57,056 shares of the medical technology company’s stock after selling 250 shares during the period. J.P. Marvel Investment Advisors LLC’s holdings in Medtronic were worth $4,558,000 at the end of the most recent quarter.

Several other large investors have also added to or reduced their stakes in MDT. Good Life Advisors LLC grew its stake in Medtronic by 7.7% during the third quarter. Good Life Advisors LLC now owns 3,870 shares of the medical technology company’s stock worth $348,000 after purchasing an additional 276 shares during the period. Teamwork Financial Advisors LLC acquired a new stake in Medtronic during the third quarter worth approximately $217,000. Stonegate Investment Group LLC grew its stake in Medtronic by 20.1% during the third quarter. Stonegate Investment Group LLC now owns 6,363 shares of the medical technology company’s stock worth $573,000 after purchasing an additional 1,063 shares during the period. Aaron Wealth Advisors LLC grew its stake in Medtronic by 70.6% in the third quarter. Aaron Wealth Advisors LLC now owns 6,573 shares of the medical technology company’s stock valued at $592,000 after acquiring an additional 2,720 shares during the period. Finally, Stratos Wealth Advisors LLC grew its stake in Medtronic by 58.2% in the third quarter. Stratos Wealth Advisors LLC now owns 12,406 shares of the medical technology company’s stock valued at $1,117,000 after acquiring an additional 4,565 shares during the period. Institutional investors and hedge funds own 82.06% of the company’s stock.

Medtronic Stock Performance

Shares of Medtronic stock opened at $93.02 on Friday. The business’s fifty day simple moving average is $85.51 and its 200 day simple moving average is $86.81. The firm has a market capitalization of $119.28 billion, a P/E ratio of 28.45, a price-to-earnings-growth ratio of 2.57 and a beta of 0.84. Medtronic plc has a 12 month low of $75.96 and a 12 month high of $93.08. The company has a current ratio of 1.84, a quick ratio of 1.39 and a debt-to-equity ratio of 0.51.

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

Medtronic Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, January 10th. Investors of record on Friday, December 27th were issued a dividend of $0.70 per share. The ex-dividend date was Friday, December 27th. This represents a $2.80 dividend on an annualized basis and a yield of 3.01%. Medtronic’s dividend payout ratio (DPR) is currently 85.63%.

Insider Buying and Selling

In other Medtronic news, EVP Brett A. Wall sold 12,437 shares of the firm’s stock in a transaction on Friday, January 24th. The stock was sold at an average price of $90.00, for a total value of $1,119,330.00. Following the completion of the sale, the executive vice president now directly owns 40,979 shares of the company’s stock, valued at $3,688,110. This trade represents a 23.28 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. 0.20% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on MDT. Barclays raised their price objective on Medtronic from $105.00 to $109.00 and gave the company an “overweight” rating in a research note on Tuesday, November 26th. Needham & Company LLC reissued a “hold” rating on shares of Medtronic in a research note on Wednesday. Robert W. Baird reduced their price objective on Medtronic from $96.00 to $93.00 and set a “neutral” rating for the company in a research note on Wednesday, November 20th. Wells Fargo & Company reduced their price objective on Medtronic from $106.00 to $98.00 and set an “overweight” rating for the company in a research note on Wednesday, November 20th. Finally, JPMorgan Chase & Co. reduced their price objective on Medtronic from $99.00 to $96.00 and set a “neutral” rating for the company in a research note on Friday, November 15th. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating, six have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $95.00.

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.