Larson Financial Group LLC Acquires 4,960 Shares of Medtronic plc (NYSE:MDT)

Larson Financial Group LLC lifted its holdings in Medtronic plc (NYSE:MDT) by 20.1% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 29,635 shares of the medical technology company’s stock after acquiring an additional 4,960 shares during the period. Larson Financial Group LLC’s holdings in Medtronic were worth $2,367,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently made changes to their positions in the business. Guardian Wealth Management Inc. raised its position in shares of Medtronic by 0.9% in the 3rd quarter. Guardian Wealth Management Inc. now owns 13,131 shares of the medical technology company’s stock worth $1,182,000 after acquiring an additional 115 shares in the last quarter. MONECO Advisors LLC increased its position in Medtronic by 1.8% in the 4th quarter. MONECO Advisors LLC now owns 6,408 shares of the medical technology company’s stock valued at $512,000 after buying an additional 115 shares in the last quarter. First City Capital Management Inc. increased its position in Medtronic by 2.9% in the 3rd quarter. First City Capital Management Inc. now owns 4,123 shares of the medical technology company’s stock valued at $371,000 after buying an additional 116 shares in the last quarter. Hardy Reed LLC increased its position in Medtronic by 4.4% in the 3rd quarter. Hardy Reed LLC now owns 2,743 shares of the medical technology company’s stock valued at $247,000 after buying an additional 116 shares in the last quarter. Finally, OLD Second National Bank of Aurora increased its position in Medtronic by 0.3% in the 4th quarter. OLD Second National Bank of Aurora now owns 36,303 shares of the medical technology company’s stock valued at $2,900,000 after buying an additional 121 shares in the last quarter. 82.06% of the stock is owned by institutional investors.

Insider Transactions at Medtronic

In related news, EVP Brett A. Wall sold 9,850 shares of the company’s stock in a transaction that occurred on Wednesday, January 8th. The stock was sold at an average price of $80.41, for a total value of $792,038.50. Following the transaction, 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 0.20% of the company’s stock.

Medtronic Price Performance

Shares of NYSE MDT opened at $94.58 on Friday. Medtronic plc has a twelve month low of $75.96 and a twelve month high of $95.57. The stock’s 50 day moving average price is $88.33 and its 200-day moving average price is $87.80. The company has a market capitalization of $121.30 billion, a PE ratio of 28.75, a PEG ratio of 2.22 and a beta of 0.80. The company has a quick ratio of 1.39, a current ratio of 1.90 and a debt-to-equity ratio of 0.48.

Medtronic (NYSE:MDT) last announced its earnings results on Tuesday, February 18th. The medical technology company reported $1.39 earnings per share for the quarter, topping analysts’ consensus estimates of $1.36 by $0.03. Medtronic had a return on equity of 14.07% and a net margin of 12.83%. The firm had revenue of $8.29 billion for the quarter, compared to the consensus estimate of $8.33 billion. On average, equities analysts anticipate that Medtronic plc will post 5.46 EPS for the current year.

Medtronic Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, April 11th. Stockholders of record on Friday, March 28th will be paid a $0.70 dividend. The ex-dividend date is Friday, March 28th. This represents a $2.80 dividend on an annualized basis and a dividend yield of 2.96%. Medtronic’s payout ratio is presently 85.11%.

Wall Street Analyst Weigh In

A number of analysts recently commented on MDT shares. Needham & Company LLC reaffirmed a “hold” rating on shares of Medtronic in a research report on Wednesday, February 19th. 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. UBS Group boosted their target price on Medtronic from $85.00 to $95.00 and gave the company a “neutral” rating in a research report on Wednesday, February 19th. Barclays boosted their target price on Medtronic from $105.00 to $109.00 and gave the company an “overweight” rating in a research report on Tuesday, November 26th. Finally, Citigroup upgraded Medtronic from a “neutral” rating to a “buy” rating and lifted their price target for the company from $92.00 to $107.00 in a research note on Tuesday, March 4th. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating, six have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $96.07.

Medtronic 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.