Triangle Securities Wealth Management Has $1.10 Million Stake in Medtronic PLC (MDT)

Triangle Securities Wealth Management lifted its position in shares of Medtronic PLC (NYSE:MDT) by 1.1% in the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 12,056 shares of the medical technology company’s stock after acquiring an additional 134 shares during the period. Triangle Securities Wealth Management’s holdings in Medtronic were worth $1,098,000 as of its most recent filing with the SEC.

Other hedge funds have also recently added to or reduced their stakes in the company. Tributary Capital Management LLC acquired a new stake in Medtronic in the fourth quarter worth approximately $27,000. Pin Oak Investment Advisors Inc. boosted its stake in Medtronic by 158.0% during the fourth quarter. Pin Oak Investment Advisors Inc. now owns 369 shares of the medical technology company’s stock valued at $34,000 after buying an additional 226 shares in the last quarter. Highwater Wealth Management LLC bought a new position in Medtronic during the fourth quarter valued at about $39,000. IMS Capital Management acquired a new position in Medtronic during the third quarter worth about $41,000. Finally, Capital Financial Planning LLC acquired a new position in Medtronic during the fourth quarter worth about $42,000. 81.50% of the stock is currently owned by institutional investors and hedge funds.

In related news, CEO Omar Ishrak bought 12,000 shares of the company’s stock in a transaction dated Wednesday, January 9th. The stock was acquired at an average cost of $84.05 per share, with a total value of $1,008,600.00. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, CFO Karen L. Parkhill bought 3,000 shares of the company’s stock in a transaction dated Wednesday, January 9th. The stock was bought at an average cost of $83.87 per share, with a total value of $251,610.00. The disclosure for this purchase can be found here. 0.28% of the stock is currently owned by insiders.

Several brokerages have recently issued reports on MDT. Wells Fargo & Co lowered their price objective on shares of Medtronic from $101.00 to $100.00 and set a “market perform” rating on the stock in a research note on Thursday. Northland Securities reissued a “hold” rating and set a $84.00 target price on shares of Medtronic in a research note on Monday, March 18th. Barclays restated a “buy” rating and set a $104.00 target price on shares of Medtronic in a report on Wednesday, February 20th. Citigroup lifted their price target on shares of Medtronic from $95.00 to $101.00 and gave the stock a “neutral” rating in a research report on Monday, February 25th. Finally, Credit Suisse Group assumed coverage on Medtronic in a report on Monday, December 17th. They set an “outperform” rating and a $109.00 target price for the company. Ten equities research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has issued a strong buy rating to the stock. Medtronic currently has a consensus rating of “Buy” and an average price target of $103.39.

Medtronic stock traded down $0.57 on Monday, hitting $88.36. The company’s stock had a trading volume of 89,625 shares, compared to its average volume of 5,600,994. Medtronic PLC has a one year low of $77.13 and a one year high of $100.15. The firm has a market capitalization of $118.38 billion, a PE ratio of 18.50, a price-to-earnings-growth ratio of 2.15 and a beta of 0.82. The company has a debt-to-equity ratio of 0.47, a current ratio of 2.36 and a quick ratio of 1.92.

Medtronic (NYSE:MDT) last released its quarterly earnings data on Tuesday, February 19th. The medical technology company reported $1.29 EPS for the quarter, topping analysts’ consensus estimates of $1.24 by $0.05. The company had revenue of $7.55 billion during the quarter, compared to the consensus estimate of $7.53 billion. Medtronic had a net margin of 16.10% and a return on equity of 13.85%. The firm’s revenue for the quarter was up 2.4% compared to the same quarter last year. During the same period last year, the firm earned $1.17 EPS. Analysts predict that Medtronic PLC will post 5.15 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Friday, April 12th. Shareholders of record on Friday, March 22nd will be paid a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a yield of 2.26%. The ex-dividend date is Thursday, March 21st. Medtronic’s dividend payout ratio is 41.93%.

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Medtronic Profile

Medtronic plc develops, manufactures, distributes, and sells device-based medical therapies to hospitals, physicians, clinicians, and patients worldwide. It operates through four segments: Cardiac and Vascular Group, Minimally Invasive Therapies Group, Restorative Therapies Group, and Diabetes Group.

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Institutional Ownership by Quarter for Medtronic (NYSE:MDT)

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