Legacy Capital Group California Inc. Has $1.06 Million Stock Holdings in Medtronic plc (NYSE:MDT)

Legacy Capital Group California Inc. boosted its position in Medtronic plc (NYSE:MDT) by 4.8% during the fourth quarter, Holdings Channel reports. The institutional investor owned 13,259 shares of the medical technology company’s stock after purchasing an additional 603 shares during the quarter. Legacy Capital Group California Inc.’s holdings in Medtronic were worth $1,059,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. Clear Harbor Asset Management LLC grew its stake in Medtronic by 1.2% in the third quarter. Clear Harbor Asset Management LLC now owns 9,558 shares of the medical technology company’s stock valued at $861,000 after purchasing an additional 111 shares in the last quarter. Guardian Wealth Management Inc. grew its stake in Medtronic by 0.9% in the third 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 in the last quarter. First City Capital Management Inc. grew its stake in Medtronic by 2.9% in the third quarter. First City Capital Management Inc. now owns 4,123 shares of the medical technology company’s stock valued at $371,000 after purchasing an additional 116 shares in the last quarter. Hardy Reed LLC grew its stake in Medtronic by 4.4% in the third 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. Finally, Lake Street Advisors Group LLC grew its stake in Medtronic by 2.0% in the third quarter. Lake Street Advisors Group LLC now owns 6,024 shares of the medical technology company’s stock valued at $547,000 after purchasing an additional 118 shares in the last quarter. Institutional investors and hedge funds own 82.06% of the company’s stock.

Insider Activity at Medtronic

In related news, EVP Brett A. Wall sold 9,850 shares of the company’s stock in a transaction dated Wednesday, January 8th. The stock was sold at an average price of $80.41, for a total transaction of $792,038.50. Following the sale, the executive vice president now owns 40,708 shares in the company, valued at $3,273,330.28. This represents a 19.48 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.20% of the stock is owned by corporate insiders.

Medtronic Price Performance

Shares of MDT opened at $88.14 on Friday. Medtronic plc has a 12-month low of $75.96 and a 12-month high of $93.08. The business has a 50-day simple moving average of $85.93 and a two-hundred day simple moving average of $87.03. The company has a quick ratio of 1.39, a current ratio of 1.90 and a debt-to-equity ratio of 0.48. The stock has a market cap of $113.02 billion, a PE ratio of 26.79, a PEG ratio of 2.46 and a beta of 0.84.

Medtronic (NYSE:MDT) last released its quarterly earnings results on Tuesday, February 18th. The medical technology company reported $1.39 EPS for the quarter, beating analysts’ consensus estimates of $1.36 by $0.03. Medtronic had a return on equity of 14.07% and a net margin of 12.83%. The firm had revenue of $8.29 billion for the quarter, compared to analyst estimates of $8.33 billion. Analysts anticipate that Medtronic plc will post 5.46 earnings per share for the current fiscal year.

Medtronic Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, January 10th. Investors of record on Friday, December 27th were given a dividend of $0.70 per share. The ex-dividend date was Friday, December 27th. This represents a $2.80 annualized dividend and a dividend yield of 3.18%. Medtronic’s payout ratio is 85.11%.

Analysts Set New Price Targets

A number of research firms have weighed in on MDT. Royal Bank of Canada restated an “outperform” rating and issued a $105.00 price target on shares of Medtronic in a research note on Wednesday. JPMorgan Chase & Co. reduced their price target on Medtronic from $99.00 to $96.00 and set a “neutral” rating for the company in a research note on Friday, November 15th. Sanford C. Bernstein boosted their price target on Medtronic from $96.00 to $97.00 and gave the company an “outperform” rating in a research note on Wednesday, November 20th. Robert W. Baird lifted their price objective on Medtronic from $90.00 to $91.00 and gave the company a “neutral” rating in a report on Wednesday. Finally, UBS Group boosted their price target on Medtronic from $85.00 to $95.00 and gave the stock a “neutral” rating in a report on Wednesday. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating, six have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $95.20.

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.