Accurate Wealth Management LLC Purchases 159 Shares of Medtronic plc (NYSE:MDT)

Accurate Wealth Management LLC grew its position in shares of Medtronic plc (NYSE:MDT) by 3.7% during the 4th quarter, Holdings Channel.com reports. The institutional investor owned 4,421 shares of the medical technology company’s stock after buying an additional 159 shares during the quarter. Accurate Wealth Management LLC’s holdings in Medtronic were worth $357,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently modified their holdings of the company. Fortitude Family Office LLC purchased a new stake in Medtronic during the third quarter worth about $27,000. Darwin Wealth Management LLC purchased a new stake in shares of Medtronic during the 3rd quarter worth approximately $27,000. Highline Wealth Partners LLC bought a new stake in shares of Medtronic in the 3rd quarter worth approximately $27,000. J. Stern & Co. LLP purchased a new position in Medtronic in the third quarter valued at approximately $30,000. Finally, Chelsea Counsel Co. bought a new position in Medtronic during the third quarter valued at $45,000. 82.06% of the stock is owned by institutional investors.

Medtronic Trading Up 2.1 %

Shares of Medtronic stock opened at $87.19 on Friday. 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 1 year low of $75.96 and a 1 year high of $92.68. The firm has a market cap of $111.80 billion, a PE ratio of 26.66, a PEG ratio of 2.28 and a beta of 0.83. The company has a 50 day simple moving average of $83.65 and a two-hundred day simple moving average of $85.01.

Medtronic (NYSE:MDT) last posted 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 company had revenue of $8.40 billion during the quarter, compared to the consensus estimate of $8.27 billion. Medtronic had a net margin of 13.00% and a return on equity of 13.79%. The firm’s revenue was up 5.2% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.25 EPS. Analysts expect that Medtronic plc will post 5.45 earnings per share for the current fiscal year.

Medtronic Dividend Announcement

The company also recently disclosed 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. The ex-dividend date was Friday, December 27th. This represents a $2.80 dividend on an annualized basis and a dividend yield of 3.21%. Medtronic’s dividend payout ratio is 85.63%.

Insider Activity at Medtronic

In other Medtronic news, EVP Brett A. Wall sold 9,850 shares of Medtronic stock in a transaction that occurred on Wednesday, January 8th. The shares were sold at an average price of $80.41, for a total transaction of $792,038.50. Following the transaction, the executive vice president now directly owns 40,708 shares of the company’s stock, valued at approximately $3,273,330.28. This trade represents a 19.48 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 0.20% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

Several analysts have issued reports on the company. Barclays boosted their target price on Medtronic from $105.00 to $109.00 and gave the company an “overweight” rating in a research note on Tuesday, November 26th. Wells Fargo & Company dropped their price objective on shares of Medtronic from $106.00 to $98.00 and set an “overweight” rating on the stock in a report on Wednesday, November 20th. Robert W. Baird cut their target price on shares of Medtronic from $96.00 to $93.00 and set a “neutral” rating for the company in a research report on Wednesday, November 20th. Royal Bank of Canada upgraded shares of Medtronic from a “sector perform” rating to an “outperform” rating and upped their price target for the company from $98.00 to $105.00 in a research note on Thursday, October 10th. Finally, Evercore ISI raised their price objective on shares of Medtronic from $100.00 to $104.00 and gave the stock an “outperform” rating in a report on Tuesday, October 1st. One analyst has rated the stock with a sell rating, nine have given a hold rating, six have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Hold” and an average price target of $95.00.

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.