Medtronic plc (NYSE:MDT) Shares Bought by Franklin Street Advisors Inc. NC

Franklin Street Advisors Inc. NC raised its position in shares of Medtronic plc (NYSE:MDT) by 32.6% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 73,517 shares of the medical technology company’s stock after buying an additional 18,057 shares during the quarter. Franklin Street Advisors Inc. NC’s holdings in Medtronic were worth $5,873,000 at the end of the most recent quarter.

A number of other large investors also recently bought and sold shares of MDT. Clear Harbor Asset Management LLC raised its position in shares of Medtronic by 1.2% during the 3rd quarter. Clear Harbor Asset Management LLC now owns 9,558 shares of the medical technology company’s stock worth $861,000 after purchasing an additional 111 shares during the period. Guardian Wealth Management Inc. increased its position in shares of Medtronic by 0.9% during the 3rd quarter. Guardian Wealth Management Inc. now owns 13,131 shares of the medical technology company’s stock valued at $1,182,000 after purchasing an additional 115 shares during the period. First PREMIER Bank boosted its stake in Medtronic by 1.8% during the third quarter. First PREMIER Bank now owns 6,417 shares of the medical technology company’s stock valued at $577,000 after buying an additional 116 shares in the last quarter. First City Capital Management Inc. lifted its holdings 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 acquiring an additional 116 shares during the last quarter. Finally, Hardy Reed LLC boosted its position in shares of Medtronic by 4.4% during the 3rd quarter. Hardy Reed LLC now owns 2,743 shares of the medical technology company’s stock valued at $247,000 after purchasing an additional 116 shares in the last quarter. Institutional investors own 82.06% of the company’s stock.

Medtronic Stock Down 1.7 %

MDT stock traded down $1.44 during mid-day trading on Friday, reaching $81.24. The company had a trading volume of 2,590,962 shares, compared to its average volume of 6,596,525. The company has a market capitalization of $104.17 billion, a price-to-earnings ratio of 24.84, a PEG ratio of 2.33 and a beta of 0.83. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.84 and a quick ratio of 1.39. Medtronic plc has a 52 week low of $75.96 and a 52 week high of $92.68. The stock has a 50 day simple moving average of $84.17 and a two-hundred day simple moving average of $84.89.

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

Medtronic Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, January 10th. Investors of record on Friday, December 27th will be given a dividend of $0.70 per share. The ex-dividend date of this dividend is Friday, December 27th. This represents a $2.80 annualized dividend and a yield of 3.45%. Medtronic’s dividend payout ratio is 85.63%.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on MDT. Royal Bank of Canada raised Medtronic from a “sector perform” rating to an “outperform” rating and raised their price objective for the stock from $98.00 to $105.00 in a research note on Thursday, October 10th. Evercore ISI upped their price target on shares of Medtronic from $100.00 to $104.00 and gave the stock an “outperform” rating in a research note on Tuesday, October 1st. Sanford C. Bernstein lifted their target price on shares of Medtronic from $96.00 to $97.00 and gave the company an “outperform” rating in a research note on Wednesday, November 20th. Wells Fargo & Company reduced their price target on Medtronic from $106.00 to $98.00 and set an “overweight” rating for the company in a research report on Wednesday, November 20th. Finally, Robert W. Baird dropped their target price on shares of Medtronic from $96.00 to $93.00 and set a “neutral” rating on the stock in a report on Wednesday, November 20th. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating, six have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target 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.