Janney Montgomery Scott LLC Has $92.20 Million Stake in Medtronic plc (NYSE:MDT)

Janney Montgomery Scott LLC boosted its position in shares of Medtronic plc (NYSE:MDT) by 5.9% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,154,272 shares of the medical technology company’s stock after buying an additional 64,533 shares during the period. Janney Montgomery Scott LLC owned approximately 0.09% of Medtronic worth $92,203,000 at the end of the most recent quarter.

A number of other large investors have also recently bought and sold shares of MDT. Fortitude Family Office LLC bought a new stake in shares of Medtronic during the 3rd quarter valued at approximately $27,000. Highline Wealth Partners LLC bought a new stake in shares of Medtronic during the 3rd quarter valued at approximately $27,000. Darwin Wealth Management LLC bought a new stake in shares of Medtronic during the 3rd quarter valued at approximately $27,000. J. Stern & Co. LLP bought a new stake in shares of Medtronic during the 3rd quarter valued at approximately $30,000. Finally, Kieckhefer Group LLC bought a new stake in shares of Medtronic during the 4th quarter valued at approximately $40,000. 82.06% of the stock is currently owned by institutional investors and hedge funds.

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 owns 40,708 shares of the company’s stock, valued at $3,273,330.28. This trade represents a 19.48 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 0.20% of the stock is owned by insiders.

Medtronic Price Performance

Shares of NYSE MDT opened at $87.84 on Thursday. Medtronic plc has a fifty-two week low of $75.96 and a fifty-two week high of $92.68. The stock has a market cap of $112.64 billion, a price-to-earnings ratio of 26.86, a PEG ratio of 2.50 and a beta of 0.83. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.39 and a current ratio of 1.84. The firm’s 50-day simple moving average is $83.64 and its 200 day simple moving average is $85.37.

Medtronic (NYSE:MDT) last announced its quarterly earnings results on Tuesday, November 19th. The medical technology company reported $1.26 earnings per share for the quarter, beating the consensus estimate of $1.25 by $0.01. Medtronic had a net margin of 13.00% and a return on equity of 13.79%. The business had revenue of $8.40 billion for the quarter, compared to analysts’ expectations of $8.27 billion. During the same quarter last year, the firm earned $1.25 EPS. The firm’s revenue for the quarter was up 5.2% compared to the same quarter last year. As a group, research analysts anticipate that Medtronic plc will post 5.45 earnings per share for the current fiscal year.

Medtronic Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, January 10th. Investors of record on Friday, December 27th were given a $0.70 dividend. The ex-dividend date was Friday, December 27th. This represents a $2.80 annualized dividend and a yield of 3.19%. Medtronic’s payout ratio is 85.63%.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on MDT shares. Citigroup lifted their price target on shares of Medtronic from $85.00 to $92.00 and gave the company a “neutral” rating in a report on Tuesday, October 1st. Sanford C. Bernstein lifted their price target on shares of Medtronic from $96.00 to $97.00 and gave the company an “outperform” rating in a report on Wednesday, November 20th. Needham & Company LLC reissued a “hold” rating on shares of Medtronic in a report on Monday, November 18th. JPMorgan Chase & Co. reduced their target price on shares of Medtronic from $99.00 to $96.00 and set a “neutral” rating on the stock in a report on Friday, November 15th. Finally, Evercore ISI boosted their target price 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 assigned a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $95.00.

Medtronic Company 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.