Franklin Parlapiano Turner & Welch LLC Increases Stock Holdings in Medtronic plc (NYSE:MDT)

Franklin Parlapiano Turner & Welch LLC boosted its stake in shares of Medtronic plc (NYSE:MDT) by 0.8% in the 4th quarter, HoldingsChannel reports. The institutional investor owned 87,325 shares of the medical technology company’s stock after acquiring an additional 702 shares during the quarter. Medtronic makes up 1.9% of Franklin Parlapiano Turner & Welch LLC’s investment portfolio, making the stock its 21st biggest position. Franklin Parlapiano Turner & Welch LLC’s holdings in Medtronic were worth $6,975,000 as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. Fortitude Family Office LLC purchased a new position in Medtronic during the third quarter worth about $27,000. Darwin Wealth Management LLC purchased a new position in Medtronic during the third quarter worth about $27,000. Highline Wealth Partners LLC purchased a new position in Medtronic during the third quarter worth about $27,000. J. Stern & Co. LLP purchased a new position in Medtronic during the third quarter worth about $30,000. Finally, Chelsea Counsel Co. purchased a new position in Medtronic during the third quarter worth about $45,000. Hedge funds and other institutional investors own 82.06% of the company’s stock.

Insider Transactions at Medtronic

In related news, EVP Brett A. Wall sold 9,850 shares of Medtronic stock in a transaction 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 transaction, the executive vice president now directly owns 40,708 shares in the company, valued at $3,273,330.28. This trade represents a 19.48 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Insiders own 0.20% of the company’s stock.

Medtronic Stock Down 0.5 %

MDT stock opened at $91.51 on Thursday. 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 plc has a twelve month low of $75.96 and a twelve month high of $93.08. The company’s 50 day moving average is $83.99 and its two-hundred day moving average is $85.83. The stock has a market cap of $117.34 billion, a P/E ratio of 27.98, a PEG ratio of 2.49 and a beta of 0.83.

Medtronic (NYSE:MDT) last announced its earnings results on Tuesday, November 19th. The medical technology company reported $1.26 earnings per share (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 net margin of 13.00% and a return on equity of 13.79%. The company’s revenue for the quarter was up 5.2% compared to the same quarter last year. During the same period last year, the firm posted $1.25 earnings per share. Research analysts expect that Medtronic plc will post 5.45 earnings per share for the current fiscal year.

Medtronic Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, January 10th. Stockholders of record on Friday, December 27th were given a dividend of $0.70 per share. The ex-dividend date of this dividend was Friday, December 27th. This represents a $2.80 dividend on an annualized basis and a dividend yield of 3.06%. Medtronic’s dividend payout ratio (DPR) is presently 85.63%.

Analyst Ratings Changes

Several brokerages have weighed in on MDT. JPMorgan Chase & Co. lowered their target price on shares of Medtronic from $99.00 to $96.00 and set a “neutral” rating for the company in a research note on Friday, November 15th. Wells Fargo & Company reduced their price target on shares of Medtronic from $106.00 to $98.00 and set an “overweight” rating on the stock in a research report on Wednesday, November 20th. Sanford C. Bernstein increased their price target on shares of Medtronic from $96.00 to $97.00 and gave the stock an “outperform” rating in a research report on Wednesday, November 20th. Barclays increased their price target on shares of Medtronic from $105.00 to $109.00 and gave the stock an “overweight” rating in a research report on Tuesday, November 26th. Finally, Needham & Company LLC reissued a “hold” rating on shares of Medtronic in a research report on Monday, November 18th. One 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 assigned a strong buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $95.00.

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.