Cohen Capital Management Inc. Raises Position in Medtronic plc (NYSE:MDT)

Cohen Capital Management Inc. lifted its holdings in shares of Medtronic plc (NYSE:MDT) by 4.0% during the 4th quarter, Holdings Channel.com reports. The firm owned 31,102 shares of the medical technology company’s stock after acquiring an additional 1,200 shares during the period. Cohen Capital Management Inc.’s holdings in Medtronic were worth $2,484,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. Copley Financial Group Inc. purchased a new stake in Medtronic in the 3rd quarter valued at about $694,000. Olstein Capital Management L.P. boosted its position in shares of Medtronic by 19.2% in the third quarter. Olstein Capital Management L.P. now owns 87,000 shares of the medical technology company’s stock worth $7,833,000 after acquiring an additional 14,000 shares during the last quarter. Franklin Street Advisors Inc. NC grew its holdings in Medtronic by 32.6% in the fourth quarter. Franklin Street Advisors Inc. NC now owns 73,517 shares of the medical technology company’s stock valued at $5,873,000 after purchasing an additional 18,057 shares during the period. Y Intercept Hong Kong Ltd increased its position in Medtronic by 322.6% during the third quarter. Y Intercept Hong Kong Ltd now owns 73,593 shares of the medical technology company’s stock worth $6,626,000 after purchasing an additional 56,178 shares during the last quarter. Finally, Czech National Bank raised its stake in Medtronic by 6.4% during the fourth quarter. Czech National Bank now owns 278,065 shares of the medical technology company’s stock worth $22,212,000 after purchasing an additional 16,786 shares during the period. 82.06% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

MDT has been the subject of a number of research analyst reports. Barclays upped their price objective on Medtronic from $105.00 to $109.00 and gave the stock an “overweight” rating in a report on Tuesday, November 26th. Wells Fargo & Company dropped their price target on Medtronic from $106.00 to $98.00 and set an “overweight” rating for the company 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 research note on Wednesday. Sanford C. Bernstein boosted their target price on Medtronic from $96.00 to $97.00 and gave the stock an “outperform” rating in a report on Wednesday, November 20th. Finally, UBS Group raised 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 equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $95.00.

Insider Buying and Selling at Medtronic

In other news, EVP Brett A. Wall sold 9,850 shares of the business’s stock in a transaction dated Wednesday, January 8th. The shares were sold at an average price of $80.41, for a total value of $792,038.50. Following the completion of the sale, 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 position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.20% of the stock is currently owned by corporate insiders.

Medtronic Price Performance

Shares of MDT stock opened at $89.95 on Friday. The firm has a fifty day simple moving average of $86.08 and a 200-day simple moving average of $87.14. The company has a market capitalization of $115.34 billion, a PE ratio of 27.34, a price-to-earnings-growth ratio of 2.22 and a beta of 0.84. Medtronic plc has a twelve month low of $75.96 and a twelve month high of $93.08. The company has a current ratio of 1.90, a quick ratio of 1.39 and a debt-to-equity ratio of 0.48.

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

Medtronic Dividend Announcement

The firm also recently disclosed 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 was Friday, December 27th. This represents a $2.80 annualized dividend and a yield of 3.11%. Medtronic’s dividend payout ratio is presently 85.11%.

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.