Regal Investment Advisors LLC Increases Position in Medtronic plc (NYSE:MDT)

Regal Investment Advisors LLC lifted its position in Medtronic plc (NYSE:MDTGet Rating) by 4.5% in the fourth quarter, HoldingsChannel.com reports. The firm owned 47,812 shares of the medical technology company’s stock after purchasing an additional 2,046 shares during the quarter. Regal Investment Advisors LLC’s holdings in Medtronic were worth $4,946,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Gulf International Bank UK Ltd purchased a new stake in shares of Medtronic in the fourth quarter worth $23,005,000. Braun Stacey Associates Inc. bought a new position in shares of Medtronic during the third quarter worth $16,242,000. TownSquare Capital LLC boosted its position in shares of Medtronic by 14.6% during the third quarter. TownSquare Capital LLC now owns 52,817 shares of the medical technology company’s stock worth $6,620,000 after acquiring an additional 6,745 shares during the last quarter. Renaissance Technologies LLC boosted its position in shares of Medtronic by 128.5% during the third quarter. Renaissance Technologies LLC now owns 457,841 shares of the medical technology company’s stock worth $57,390,000 after acquiring an additional 257,500 shares during the last quarter. Finally, Sanders Capital LLC boosted its position in shares of Medtronic by 3.3% during the third quarter. Sanders Capital LLC now owns 10,666,014 shares of the medical technology company’s stock worth $1,478,609,000 after acquiring an additional 339,798 shares during the last quarter. 80.23% of the stock is owned by hedge funds and other institutional investors.

MDT stock traded up $1.56 during trading on Friday, hitting $102.67. The company had a trading volume of 3,525,869 shares, compared to its average volume of 5,166,020. The firm has a market capitalization of $137.74 billion, a P/E ratio of 28.28, a PEG ratio of 2.29 and a beta of 0.74. Medtronic plc has a 52-week low of $98.38 and a 52-week high of $135.89. The company has a 50 day simple moving average of $107.55 and a 200-day simple moving average of $108.41. The company has a quick ratio of 2.10, a current ratio of 2.61 and a debt-to-equity ratio of 0.46.

Medtronic (NYSE:MDTGet Rating) last posted its quarterly earnings results on Tuesday, February 22nd. The medical technology company reported $1.37 EPS for the quarter, topping the consensus estimate of $1.36 by $0.01. The company had revenue of $7.76 billion for the quarter, compared to the consensus estimate of $7.91 billion. Medtronic had a net margin of 15.46% and a return on equity of 14.57%. The firm’s revenue was down .2% compared to the same quarter last year. During the same quarter last year, the firm posted $1.29 EPS. Sell-side analysts forecast that Medtronic plc will post 5.66 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which was paid on Friday, April 22nd. Shareholders of record on Friday, March 25th were given a dividend of $0.63 per share. This represents a $2.52 dividend on an annualized basis and a yield of 2.45%. The ex-dividend date was Thursday, March 24th. Medtronic’s dividend payout ratio (DPR) is 69.42%.

In other news, SVP Carol A. Surface sold 6,000 shares of Medtronic stock in a transaction that occurred on Friday, March 11th. The shares were sold at an average price of $105.30, for a total value of $631,800.00. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CFO Karen L. Parkhill sold 682 shares of Medtronic stock in a transaction that occurred on Friday, March 18th. The stock was sold at an average price of $110.00, for a total transaction of $75,020.00. The disclosure for this sale can be found here. Company insiders own 0.47% of the company’s stock.

A number of equities analysts recently weighed in on MDT shares. The Goldman Sachs Group dropped their target price on shares of Medtronic from $129.00 to $115.00 and set a “neutral” rating for the company in a research report on Tuesday, January 18th. Bank of America assumed coverage on shares of Medtronic in a research report on Tuesday, March 1st. They set a “buy” rating for the company. SVB Leerink reiterated a “market perform” rating on shares of Medtronic in a research report on Wednesday, April 13th. StockNews.com assumed coverage on shares of Medtronic in a research report on Thursday, March 31st. They set a “buy” rating for the company. Finally, Credit Suisse Group lowered their price objective on shares of Medtronic from $142.00 to $135.00 and set an “outperform” rating for the company in a research report on Wednesday, February 23rd. Eleven equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. Based on data from MarketBeat, Medtronic has an average rating of “Buy” and a consensus price target of $128.19.

About Medtronic (Get Rating)

Medtronic plc develops, manufactures, distributes, and sells device-based medical therapies to hospitals, physicians, clinicians, and patients worldwide. It operates through four segments: Cardiovascular Portfolio, Neuroscience Portfolio, Medical Surgical Portfolio, and Diabetes Operating Unit. The Cardiovascular Portfolio segment offers implantable cardiac pacemakers, cardioverter defibrillators, and cardiac resynchronization therapy devices; AF ablation products; insertable cardiac monitor systems; mechanical circulatory support; TYRX products; and remote monitoring and patient-centered software.

Further Reading

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Institutional Ownership by Quarter for Medtronic (NYSE:MDT)

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