Brentview Investment Management LLC Takes $3.06 Million Position in Medtronic plc (NYSE:MDT)

Brentview Investment Management LLC bought a new stake in Medtronic plc (NYSE:MDT) during the 4th quarter, HoldingsChannel reports. The fund bought 38,258 shares of the medical technology company’s stock, valued at approximately $3,056,000. Medtronic comprises approximately 1.7% of Brentview Investment Management LLC’s holdings, making the stock its 29th biggest position.

Several other hedge funds and other institutional investors have also made changes to their positions in MDT. Fortitude Family Office LLC acquired a new position in Medtronic during the third quarter worth about $27,000. Highline Wealth Partners LLC acquired a new position in Medtronic during the third quarter worth about $27,000. Darwin Wealth Management LLC acquired a new position in Medtronic during the third quarter worth about $27,000. J. Stern & Co. LLP acquired a new position in Medtronic during the third quarter worth about $30,000. Finally, Fiduciary Advisors Inc. acquired a new position in Medtronic during the fourth quarter worth about $36,000. Hedge funds and other institutional investors own 82.06% of the company’s stock.

Insider Buying and Selling

In other Medtronic news, EVP Brett A. Wall sold 12,437 shares of Medtronic stock in a transaction that occurred on Friday, January 24th. The shares were sold at an average price of $90.00, for a total value of $1,119,330.00. Following the completion of the sale, the executive vice president now directly owns 40,979 shares in the company, valued at $3,688,110. The trade was a 23.28 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.20% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

MDT has been the subject of a number of research reports. Sanford C. Bernstein lifted their target price 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. Wells Fargo & Company cut their price objective on shares of Medtronic from $106.00 to $98.00 and set an “overweight” rating for the company in a research report on Wednesday, November 20th. JPMorgan Chase & Co. cut their price objective on shares of Medtronic from $99.00 to $96.00 and set a “neutral” rating for the company in a research report on Friday, November 15th. Needham & Company LLC reissued a “hold” rating on shares of Medtronic in a research report on Monday, November 18th. Finally, Royal Bank of Canada raised shares of Medtronic from a “sector perform” rating to an “outperform” rating and boosted their price objective for the company from $98.00 to $105.00 in a research report on Thursday, October 10th. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $95.00.

Medtronic Stock Performance

Shares of MDT opened at $90.74 on Monday. The firm’s 50 day moving average is $84.38 and its 200-day moving average is $86.06. The stock has a market capitalization of $116.35 billion, a P/E ratio of 27.75, a P/E/G ratio of 2.57 and a beta of 0.84. 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 12-month low of $75.96 and a 12-month high of $93.08.

Medtronic (NYSE:MDT) last announced 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 net margin of 13.00% and a return on equity of 13.79%. The company had revenue of $8.40 billion during the quarter, compared to analysts’ expectations of $8.27 billion. During the same period last year, the company posted $1.25 earnings per share. The business’s revenue for the quarter was up 5.2% on a year-over-year basis. Equities research analysts anticipate that Medtronic plc will post 5.45 EPS for the current fiscal year.

Medtronic Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, January 10th. Investors of record on Friday, December 27th were issued a dividend of $0.70 per share. This represents a $2.80 annualized dividend and a dividend yield of 3.09%. The ex-dividend date of this dividend was Friday, December 27th. Medtronic’s dividend payout ratio is currently 85.63%.

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.