Ipsen Advisor Group LLC Invests $459,000 in Medtronic plc (NYSE:MDT)

Ipsen Advisor Group LLC bought a new stake in Medtronic plc (NYSE:MDT) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund bought 5,747 shares of the medical technology company’s stock, valued at approximately $459,000.

Other institutional investors have also added to or reduced their stakes in the company. Guardian Wealth Management Inc. raised its position in shares of Medtronic by 0.9% during the third quarter. Guardian Wealth Management Inc. now owns 13,131 shares of the medical technology company’s stock worth $1,182,000 after purchasing an additional 115 shares during the period. MONECO Advisors LLC raised its holdings in Medtronic by 1.8% during the fourth quarter. MONECO Advisors LLC now owns 6,408 shares of the medical technology company’s stock worth $512,000 after buying an additional 115 shares during the last quarter. Hardy Reed LLC raised its holdings in Medtronic by 4.4% during the third quarter. Hardy Reed LLC now owns 2,743 shares of the medical technology company’s stock worth $247,000 after buying an additional 116 shares during the last quarter. OLD Second National Bank of Aurora lifted its stake in shares of Medtronic by 0.3% in the fourth quarter. OLD Second National Bank of Aurora now owns 36,303 shares of the medical technology company’s stock valued at $2,900,000 after buying an additional 121 shares in the last quarter. Finally, McKinley Carter Wealth Services Inc. grew its holdings in shares of Medtronic by 0.7% during the fourth quarter. McKinley Carter Wealth Services Inc. now owns 19,677 shares of the medical technology company’s stock valued at $1,572,000 after buying an additional 129 shares during the last quarter. 82.06% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities analysts recently weighed in on the stock. Robert W. Baird raised their price target on shares of Medtronic from $90.00 to $91.00 and gave the company a “neutral” rating in a research report on Wednesday, February 19th. Citigroup raised Medtronic from a “neutral” rating to a “buy” rating and lifted their target price for the company from $92.00 to $107.00 in a research report on Tuesday, March 4th. Barclays increased their price target on Medtronic from $105.00 to $109.00 and gave the company an “overweight” rating in a research report on Tuesday, November 26th. UBS Group upped their target price on shares of Medtronic from $85.00 to $95.00 and gave the stock a “neutral” rating in a research note on Wednesday, February 19th. Finally, Needham & Company LLC reissued a “hold” rating on shares of Medtronic in a research report on Wednesday, February 19th. One analyst has rated the stock with a sell rating, eight have given a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $96.07.

Insider Buying and Selling at Medtronic

In other Medtronic news, EVP Brett A. Wall sold 9,850 shares of Medtronic 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 completion of the transaction, the executive vice president now owns 40,708 shares of the company’s stock, valued at $3,273,330.28. The trade was a 19.48 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Insiders own 0.20% of the company’s stock.

Medtronic Price Performance

Shares of NYSE MDT opened at $88.50 on Wednesday. The company has a current ratio of 1.90, a quick ratio of 1.39 and a debt-to-equity ratio of 0.48. The stock has a fifty day simple moving average of $90.90 and a two-hundred day simple moving average of $88.04. Medtronic plc has a 1-year low of $75.96 and a 1-year high of $96.25. The firm has a market cap of $113.51 billion, a price-to-earnings ratio of 26.90, a price-to-earnings-growth ratio of 2.22 and a beta of 0.80.

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

Medtronic Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, April 11th. Investors of record on Friday, March 28th will be issued a $0.70 dividend. This represents a $2.80 annualized dividend and a yield of 3.16%. The ex-dividend date is Friday, March 28th. Medtronic’s dividend payout ratio (DPR) is presently 85.11%.

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.