Advyzon Investment Management LLC Invests $359,000 in Medtronic plc (NYSE:MDT)

Advyzon Investment Management LLC bought a new position in shares of Medtronic plc (NYSE:MDT) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor bought 4,497 shares of the medical technology company’s stock, valued at approximately $359,000.

Other hedge funds have also made changes to their positions in the company. Fortitude Family Office LLC acquired a new stake in Medtronic in the third quarter valued at about $27,000. Darwin Wealth Management LLC purchased a new position in Medtronic in the third quarter valued at about $27,000. Highline Wealth Partners LLC purchased a new position in shares of Medtronic during the 3rd quarter worth approximately $27,000. J. Stern & Co. LLP purchased a new position in shares of Medtronic during the 3rd quarter worth approximately $30,000. Finally, Stephens Consulting LLC increased its stake in shares of Medtronic by 145.7% during the 4th quarter. Stephens Consulting LLC now owns 344 shares of the medical technology company’s stock worth $27,000 after purchasing an additional 204 shares in the last quarter. Institutional investors and hedge funds own 82.06% of the company’s stock.

Medtronic Stock Performance

NYSE:MDT opened at $87.05 on Thursday. The company has a current ratio of 1.84, a quick ratio of 1.39 and a debt-to-equity ratio of 0.51. The firm has a market capitalization of $111.62 billion, a price-to-earnings ratio of 26.62, a PEG ratio of 2.63 and a beta of 0.84. The firm’s fifty day simple moving average is $85.82 and its 200 day simple moving average is $87.02. Medtronic plc has a twelve month low of $75.96 and a twelve month high of $93.08.

Medtronic (NYSE:MDT) last released its quarterly earnings results on Tuesday, February 18th. The medical technology company reported $1.39 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.36 by $0.03. Medtronic had a net margin of 13.00% and a return on equity of 13.79%. The firm had revenue of $8.29 billion for the quarter, compared to the consensus estimate of $8.33 billion. As a group, equities research analysts expect that Medtronic plc will post 5.45 earnings per share for the current fiscal year.

Medtronic Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, January 10th. Stockholders of record on Friday, December 27th were given a $0.70 dividend. This represents a $2.80 annualized dividend and a dividend yield of 3.22%. The ex-dividend date was Friday, December 27th. Medtronic’s payout ratio is currently 85.63%.

Wall Street Analysts Forecast Growth

MDT has been the topic of a number of analyst reports. Needham & Company LLC restated a “hold” rating on shares of Medtronic in a research report on Wednesday. JPMorgan Chase & Co. decreased their target price on shares of Medtronic from $99.00 to $96.00 and set a “neutral” rating on the stock in a research report on Friday, November 15th. Barclays raised their target price on shares of Medtronic from $105.00 to $109.00 and gave the stock an “overweight” rating in a research report on Tuesday, November 26th. Royal Bank of Canada restated an “outperform” rating and set a $105.00 target price on shares of Medtronic in a research report on Wednesday. Finally, UBS Group lifted their price target on shares of Medtronic from $85.00 to $95.00 and gave the company a “neutral” rating in a report on Wednesday. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $95.20.

Insider Transactions at Medtronic

In related news, EVP Brett A. Wall sold 12,437 shares of the business’s stock in a transaction dated Friday, January 24th. The shares were sold at an average price of $90.00, for a total transaction of $1,119,330.00. Following the completion of the sale, the executive vice president now owns 40,979 shares of the company’s stock, valued at $3,688,110. This represents a 23.28 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 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.