Leelyn Smith LLC Boosts Holdings in Medtronic plc (NYSE:MDT)

Leelyn Smith LLC boosted its holdings in shares of Medtronic plc (NYSE:MDT) by 2.9% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 28,691 shares of the medical technology company’s stock after buying an additional 801 shares during the quarter. Leelyn Smith LLC’s holdings in Medtronic were worth $2,292,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. OneDigital Investment Advisors LLC lifted its position in Medtronic by 10.9% during the third quarter. OneDigital Investment Advisors LLC now owns 16,450 shares of the medical technology company’s stock valued at $1,481,000 after purchasing an additional 1,619 shares in the last quarter. Atlanta Consulting Group Advisors LLC lifted its position in shares of Medtronic by 59.3% during the 3rd quarter. Atlanta Consulting Group Advisors LLC now owns 4,752 shares of the medical technology company’s stock valued at $428,000 after buying an additional 1,769 shares in the last quarter. Aljian Capital Management LLC bought a new position in shares of Medtronic during the 3rd quarter valued at approximately $460,000. Equity Investment Corp increased its holdings in Medtronic by 0.7% in the 3rd quarter. Equity Investment Corp now owns 1,458,448 shares of the medical technology company’s stock worth $131,304,000 after acquiring an additional 10,571 shares in the last quarter. Finally, Richard C. Young & CO. LTD. raised its stake in Medtronic by 2.7% during the 3rd quarter. Richard C. Young & CO. LTD. now owns 139,232 shares of the medical technology company’s stock worth $12,535,000 after acquiring an additional 3,634 shares during the period. 82.06% of the stock is owned by hedge funds and other institutional investors.

Medtronic Stock Up 0.2 %

Shares of NYSE:MDT opened at $93.30 on Tuesday. Medtronic plc has a 52-week low of $75.96 and a 52-week high of $96.25. The stock has a market cap of $119.66 billion, a P/E ratio of 28.36, a PEG ratio of 2.22 and a beta of 0.80. The business has a fifty day moving average of $89.88 and a two-hundred day moving average of $87.99. The company has a quick ratio of 1.39, a current ratio of 1.90 and a debt-to-equity ratio of 0.48.

Medtronic (NYSE:MDT) last released its quarterly earnings data 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. The firm 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%. On average, research analysts expect that Medtronic plc will post 5.46 earnings per share for the current year.

Medtronic Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, April 11th. Stockholders of record on Friday, March 28th will be given a dividend of $0.70 per share. This represents a $2.80 annualized dividend and a dividend yield of 3.00%. The ex-dividend date is Friday, March 28th. Medtronic’s payout ratio is presently 85.11%.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on MDT. Robert W. Baird increased their price objective on shares of Medtronic from $90.00 to $91.00 and gave the stock a “neutral” rating in a research note on Wednesday, February 19th. UBS Group lifted their target price on shares of Medtronic from $85.00 to $95.00 and gave the company a “neutral” rating in a research report on Wednesday, February 19th. Needham & Company LLC restated a “hold” rating on shares of Medtronic in a research report on Wednesday, February 19th. Wells Fargo & Company lowered their price objective on Medtronic from $106.00 to $98.00 and set an “overweight” rating on the stock in a report on Wednesday, November 20th. Finally, Barclays boosted their price objective on Medtronic from $105.00 to $109.00 and gave the stock an “overweight” rating in a research note on Tuesday, November 26th. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating, six have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $96.07.

Insider Activity at Medtronic

In other Medtronic news, EVP Brett A. Wall sold 12,437 shares of Medtronic stock in a transaction on Friday, January 24th. The stock was sold at an average price of $90.00, for a total value of $1,119,330.00. Following the sale, the executive vice president now owns 40,979 shares in the company, valued at $3,688,110. The trade was a 23.28 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.20% of the stock is currently owned by insiders.

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.