Rockland Trust Co. Purchases 504 Shares of Medtronic plc (NYSE:MDT)

Rockland Trust Co. lifted its position in shares of Medtronic plc (NYSE:MDT) by 3.3% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 15,781 shares of the medical technology company’s stock after acquiring an additional 504 shares during the period. Rockland Trust Co.’s holdings in Medtronic were worth $1,261,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently added to or reduced their stakes in the company. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in shares of Medtronic by 436.7% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 7,343,385 shares of the medical technology company’s stock worth $661,125,000 after purchasing an additional 5,975,110 shares in the last quarter. Bank of Montreal Can boosted its position in shares of Medtronic by 65.0% during the third quarter. Bank of Montreal Can now owns 4,546,819 shares of the medical technology company’s stock valued at $406,122,000 after buying an additional 1,790,483 shares during the last quarter. Healthcare of Ontario Pension Plan Trust Fund increased its holdings in Medtronic by 1,195.9% in the 2nd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 1,837,600 shares of the medical technology company’s stock worth $144,637,000 after buying an additional 1,695,800 shares in the last quarter. Janus Henderson Group PLC raised its position in Medtronic by 58.4% in the 3rd quarter. Janus Henderson Group PLC now owns 3,850,914 shares of the medical technology company’s stock worth $346,705,000 after buying an additional 1,420,263 shares during the last quarter. Finally, International Assets Investment Management LLC lifted its stake in Medtronic by 8,908.6% during the 3rd quarter. International Assets Investment Management LLC now owns 1,298,415 shares of the medical technology company’s stock valued at $116,896,000 after acquiring an additional 1,284,002 shares during the period. 82.06% of the stock is currently owned by hedge funds and other institutional investors.

Medtronic Trading Up 4.1 %

Shares of NYSE:MDT opened at $85.16 on Wednesday. The stock has a 50 day moving average of $83.74 and a 200 day moving average of $85.01. The company has a market cap of $109.20 billion, a PE ratio of 26.04, a price-to-earnings-growth ratio of 2.33 and a beta of 0.83. Medtronic plc has a 12-month low of $75.96 and a 12-month high of $92.68. The company has a current ratio of 1.84, a quick ratio of 1.39 and a debt-to-equity ratio of 0.51.

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

Medtronic Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, January 10th. Shareholders of record on Friday, December 27th were issued a dividend of $0.70 per share. The ex-dividend date of this dividend was Friday, December 27th. This represents a $2.80 dividend on an annualized basis and a yield of 3.29%. Medtronic’s dividend payout ratio is presently 85.63%.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on MDT. Needham & Company LLC reissued a “hold” rating on shares of Medtronic in a report on Monday, November 18th. Wells Fargo & Company decreased their target price on shares of Medtronic from $106.00 to $98.00 and set an “overweight” rating for the company in a research note on Wednesday, November 20th. Barclays raised their price target on Medtronic from $105.00 to $109.00 and gave the stock an “overweight” rating in a research note on Tuesday, November 26th. Citigroup upped their price objective on Medtronic from $85.00 to $92.00 and gave the company a “neutral” rating in a research report on Tuesday, October 1st. Finally, Evercore ISI raised their target price on Medtronic from $100.00 to $104.00 and gave the stock an “outperform” rating in a research report on Tuesday, October 1st. 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 assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $95.00.

Insider Transactions at Medtronic

In other news, EVP Brett A. Wall sold 9,850 shares of the business’s stock in a transaction on Wednesday, January 8th. The shares were sold at an average price of $80.41, for a total value of $792,038.50. Following the transaction, the executive vice president now owns 40,708 shares of the company’s stock, valued at approximately $3,273,330.28. The trade was a 19.48 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 0.20% of the company’s stock.

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.