Noesis Capital Mangement Corp Increases Stock Position in Medtronic plc (NYSE:MDT)

Noesis Capital Mangement Corp grew its position in Medtronic plc (NYSE:MDT) by 2.6% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 103,919 shares of the medical technology company’s stock after purchasing an additional 2,653 shares during the period. Medtronic comprises about 1.6% of Noesis Capital Mangement Corp’s portfolio, making the stock its 27th largest position. Noesis Capital Mangement Corp’s holdings in Medtronic were worth $8,301,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in MDT. Darwin Wealth Management LLC purchased a new stake in shares of Medtronic in the third quarter valued at about $27,000. Stephens Consulting LLC increased its holdings in Medtronic by 145.7% during the fourth quarter. Stephens Consulting LLC now owns 344 shares of the medical technology company’s stock worth $27,000 after buying an additional 204 shares during the last quarter. J. Stern & Co. LLP purchased a new stake in Medtronic during the third quarter worth about $30,000. Fiduciary Advisors Inc. purchased a new stake in Medtronic during the fourth quarter worth about $36,000. Finally, Kieckhefer Group LLC purchased a new stake in Medtronic during the fourth quarter worth about $40,000. Hedge funds and other institutional investors own 82.06% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on MDT shares. Needham & Company LLC restated a “hold” rating on shares of Medtronic in a report on Wednesday, February 19th. Barclays raised their price objective on shares of Medtronic from $105.00 to $109.00 and gave the stock an “overweight” rating in a report on Tuesday, November 26th. JPMorgan Chase & Co. decreased their price objective on shares of Medtronic from $99.00 to $96.00 and set a “neutral” rating for the company in a report on Friday, November 15th. Sanford C. Bernstein raised their price objective on shares of Medtronic from $96.00 to $97.00 and gave the stock an “outperform” rating in a report on Wednesday, November 20th. Finally, Robert W. Baird increased their target price on shares of Medtronic from $90.00 to $91.00 and gave the stock a “neutral” rating in a research report on Wednesday, February 19th. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $95.00.

Medtronic Price Performance

MDT stock opened at $92.00 on Friday. The firm has a 50 day moving average of $87.08 and a 200-day moving average of $87.42. The company has a current ratio of 1.90, a quick ratio of 1.39 and a debt-to-equity ratio of 0.48. Medtronic plc has a 12 month low of $75.96 and a 12 month high of $93.08. The firm has a market capitalization of $117.97 billion, a P/E ratio of 27.96, a price-to-earnings-growth ratio of 2.22 and a beta of 0.84.

Medtronic (NYSE:MDT) last released its quarterly earnings data on Tuesday, February 18th. The medical technology company reported $1.39 EPS for the quarter, beating analysts’ consensus estimates of $1.36 by $0.03. Medtronic had a net margin of 12.83% and a return on equity of 14.07%. The company had revenue of $8.29 billion during the quarter, compared to analyst estimates of $8.33 billion. As a group, sell-side analysts predict that Medtronic plc will post 5.46 earnings per share for the current fiscal year.

Medtronic Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, January 10th. Stockholders of record on Friday, December 27th were given a $0.70 dividend. The ex-dividend date was Friday, December 27th. This represents a $2.80 dividend on an annualized basis and a dividend yield of 3.04%. Medtronic’s dividend payout ratio (DPR) is currently 85.11%.

Insider Activity at Medtronic

In related news, EVP Brett A. Wall sold 9,850 shares of the firm’s stock in a transaction that occurred on Wednesday, January 8th. The shares were sold at an average price of $80.41, for a total value of $792,038.50. Following the sale, the executive vice president now directly owns 40,708 shares of the company’s stock, valued at $3,273,330.28. This trade represents a 19.48 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 0.20% of the stock is currently owned by insiders.

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.