COFG Advisors LLC Buys Shares of 39,762 Medtronic PLC $MDT

COFG Advisors LLC bought a new stake in shares of Medtronic PLC (NYSE:MDT) in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 39,762 shares of the medical technology company’s stock, valued at approximately $3,820,000. Medtronic comprises approximately 0.9% of COFG Advisors LLC’s holdings, making the stock its 19th largest position.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Vanguard Group Inc. increased its holdings in Medtronic by 1.5% during the fourth quarter. Vanguard Group Inc. now owns 128,961,343 shares of the medical technology company’s stock valued at $12,388,027,000 after buying an additional 1,888,381 shares during the last quarter. State Street Corp boosted its position in shares of Medtronic by 1.0% in the third quarter. State Street Corp now owns 60,460,537 shares of the medical technology company’s stock worth $5,800,550,000 after purchasing an additional 625,992 shares during the period. Geode Capital Management LLC boosted its position in shares of Medtronic by 0.8% in the fourth quarter. Geode Capital Management LLC now owns 27,879,481 shares of the medical technology company’s stock worth $2,665,832,000 after purchasing an additional 231,919 shares during the period. Norges Bank bought a new position in shares of Medtronic in the fourth quarter worth approximately $1,653,485,000. Finally, Raymond James Financial Inc. boosted its position in shares of Medtronic by 3.0% in the third quarter. Raymond James Financial Inc. now owns 11,203,865 shares of the medical technology company’s stock worth $1,067,055,000 after purchasing an additional 327,899 shares during the period. 82.06% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on the stock. Weiss Ratings lowered shares of Medtronic from a “hold (c+)” rating to a “hold (c)” rating in a research report on Thursday, May 21st. Needham & Company LLC reiterated a “buy” rating and issued a $120.00 price target on shares of Medtronic in a research report on Thursday, March 26th. UBS Group dropped their price target on shares of Medtronic from $104.00 to $90.00 and set a “neutral” rating for the company in a research report on Wednesday, April 22nd. Jefferies Financial Group reiterated a “hold” rating and issued a $95.00 price target on shares of Medtronic in a research report on Thursday, April 23rd. Finally, Robert W. Baird upped their target price on shares of Medtronic from $92.00 to $93.00 and gave the stock a “neutral” rating in a research report on Wednesday, April 15th. Fifteen analysts have rated the stock with a Buy rating and eleven have given a Hold rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $106.45.

Medtronic Trading Up 0.2%

Shares of MDT opened at $73.95 on Tuesday. Medtronic PLC has a twelve month low of $73.67 and a twelve month high of $106.33. The company has a market cap of $94.94 billion, a P/E ratio of 20.60, a P/E/G ratio of 1.76 and a beta of 0.58. The company has a current ratio of 2.54, a quick ratio of 1.87 and a debt-to-equity ratio of 0.57. The company’s fifty day simple moving average is $82.11 and its 200-day simple moving average is $92.49.

Medtronic Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, April 17th. Investors of record on Friday, March 27th were paid a $0.71 dividend. This represents a $2.84 annualized dividend and a yield of 3.8%. The ex-dividend date of this dividend was Friday, March 27th. Medtronic’s dividend payout ratio (DPR) is currently 79.11%.

Medtronic Profile

Medtronic plc is a global medical technology company that develops and manufactures a broad range of therapeutic devices and health care solutions. Headquartered legally in Ireland with principal operational offices in the United States, the company markets products to hospitals, physicians and health systems worldwide and has grown from its founding in 1949 into one of the largest medical-device manufacturers serving global health-care markets.

Medtronic’s offerings span several clinical areas, including cardiac rhythm and heart failure (pacemakers, implantable cardioverter?defibrillators and related cardiac therapies), minimally invasive and surgical technologies (laparoscopic and advanced energy devices, visualization systems and surgical innovations), restorative therapies (spine and orthopedics, neuromodulation and neurovascular treatments) and diabetes management (insulin-delivery systems and glucose monitoring solutions).