O Keefe Stevens Advisory Inc. Purchases 2,031 Shares of Medtronic plc (NYSE:MDT)

O Keefe Stevens Advisory Inc. lifted its position in shares of Medtronic plc (NYSE:MDT) by 37.4% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 7,460 shares of the medical technology company’s stock after buying an additional 2,031 shares during the quarter. O Keefe Stevens Advisory Inc.’s holdings in Medtronic were worth $596,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in the company. Brooklyn Investment Group raised its holdings in shares of Medtronic by 46.1% in the 4th quarter. Brooklyn Investment Group now owns 4,613 shares of the medical technology company’s stock valued at $368,000 after purchasing an additional 1,455 shares in the last quarter. Merit Financial Group LLC raised its stake in Medtronic by 327.8% in the fourth quarter. Merit Financial Group LLC now owns 23,270 shares of the medical technology company’s stock worth $1,859,000 after buying an additional 17,831 shares in the last quarter. Butensky & Cohen Financial Security Inc. lifted its holdings in Medtronic by 5.5% during the fourth quarter. Butensky & Cohen Financial Security Inc. now owns 52,479 shares of the medical technology company’s stock worth $4,192,000 after buying an additional 2,750 shares during the period. Relyea Zuckerberg Hanson LLC boosted its position in Medtronic by 13.5% during the 4th quarter. Relyea Zuckerberg Hanson LLC now owns 3,124 shares of the medical technology company’s stock valued at $250,000 after acquiring an additional 372 shares in the last quarter. Finally, Saxon Interests Inc. increased its holdings in shares of Medtronic by 9.1% in the 4th quarter. Saxon Interests Inc. now owns 12,923 shares of the medical technology company’s stock valued at $1,032,000 after acquiring an additional 1,075 shares during the period. Hedge funds and other institutional investors own 82.06% of the company’s stock.

Medtronic Stock Up 1.2 %

NYSE:MDT opened at $88.23 on Friday. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.84 and a quick ratio of 1.39. The company’s fifty day moving average price is $83.63 and its 200-day moving average price is $85.03. Medtronic plc has a 1-year low of $75.96 and a 1-year high of $92.68. The firm has a market capitalization of $113.13 billion, a P/E ratio of 26.98, a PEG ratio of 2.28 and a beta of 0.83.

Medtronic (NYSE:MDT) last posted its earnings results on Tuesday, November 19th. The medical technology company reported $1.26 EPS for the quarter, topping 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 firm had revenue of $8.40 billion for the quarter, compared to analyst estimates of $8.27 billion. During the same period last year, the company earned $1.25 earnings per share. Medtronic’s revenue for the quarter was up 5.2% compared to the same quarter last year. As a group, equities research analysts anticipate that Medtronic plc will post 5.45 EPS for the current year.

Medtronic Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, January 10th. Investors of record on Friday, December 27th were paid a $0.70 dividend. This represents a $2.80 annualized dividend and a dividend yield of 3.17%. The ex-dividend date was Friday, December 27th. Medtronic’s dividend payout ratio is currently 85.63%.

Analyst Ratings Changes

MDT has been the topic of a number of recent research reports. Robert W. Baird dropped their price objective on Medtronic from $96.00 to $93.00 and set a “neutral” rating on the stock in a research report on Wednesday, November 20th. Sanford C. Bernstein raised their price target on shares of Medtronic from $96.00 to $97.00 and gave the company an “outperform” rating in a report on Wednesday, November 20th. Evercore ISI boosted their price objective 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. Wells Fargo & Company cut their price target on shares of Medtronic from $106.00 to $98.00 and set an “overweight” rating on the stock in a report on Wednesday, November 20th. Finally, Needham & Company LLC restated a “hold” rating on shares of Medtronic in a research note on Monday, November 18th. One analyst has rated the stock with a sell rating, nine have given a hold rating, six have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $95.00.

Insider Activity at Medtronic

In other Medtronic news, EVP Brett A. Wall sold 9,850 shares of the stock in a transaction that occurred on Wednesday, January 8th. The stock was sold at an average price of $80.41, for a total transaction 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 sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.20% of the stock is owned by company insiders.

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.