HM Payson & Co. Purchases 20,375 Shares of Medtronic PLC (NYSE:MDT)

HM Payson & Co. lifted its position in Medtronic PLC (NYSE:MDT) by 8.9% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 250,455 shares of the medical technology company’s stock after purchasing an additional 20,375 shares during the quarter. HM Payson & Co.’s holdings in Medtronic were worth $28,414,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in the company. Investec Asset Management LTD bought a new position in Medtronic in the fourth quarter valued at $494,986,000. Amundi Pioneer Asset Management Inc. increased its stake in Medtronic by 23.2% in the fourth quarter. Amundi Pioneer Asset Management Inc. now owns 8,968,638 shares of the medical technology company’s stock valued at $1,017,493,000 after acquiring an additional 1,690,287 shares during the last quarter. M&G Investment Management Ltd. bought a new position in Medtronic in the fourth quarter valued at $167,466,000. Point72 Asset Management L.P. increased its stake in Medtronic by 13,069.0% in the fourth quarter. Point72 Asset Management L.P. now owns 1,106,199 shares of the medical technology company’s stock valued at $125,498,000 after acquiring an additional 1,097,799 shares during the last quarter. Finally, DekaBank Deutsche Girozentrale bought a new position in Medtronic in the fourth quarter valued at $109,103,000. 82.55% of the stock is currently owned by hedge funds and other institutional investors.

In other news, CEO Omar Ishrak bought 8,771 shares of the company’s stock in a transaction dated Thursday, February 20th. The stock was bought at an average cost of $110.87 per share, for a total transaction of $972,440.77. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 0.28% of the company’s stock.

A number of research firms recently commented on MDT. UBS Group increased their target price on Medtronic from $127.00 to $130.00 and gave the company a “buy” rating in a research note on Thursday, January 16th. DZ Bank raised Medtronic from a “hold” rating to a “buy” rating and set a $90.00 target price on the stock in a research note on Wednesday. Morgan Stanley increased their target price on Medtronic from $116.00 to $123.00 and gave the company an “equal weight” rating in a research note on Tuesday, December 17th. Credit Suisse Group reduced their target price on Medtronic from $126.00 to $121.00 and set an “outperform” rating on the stock in a research note on Friday, March 6th. Finally, Deutsche Bank began coverage on Medtronic in a research note on Friday, January 3rd. They issued a “buy” rating and a $99.00 target price on the stock. Two equities research analysts have rated the stock with a sell rating, four have assigned a hold rating and twenty-two have given a buy rating to the company. The stock currently has a consensus rating of “Buy” and an average price target of $120.77.

NYSE MDT traded up $5.85 during trading on Thursday, hitting $92.67. 2,977,029 shares of the company’s stock traded hands, compared to its average volume of 9,524,935. The stock has a fifty day moving average of $102.06 and a two-hundred day moving average of $109.17. The company has a debt-to-equity ratio of 0.48, a current ratio of 2.75 and a quick ratio of 2.28. Medtronic PLC has a 12-month low of $72.13 and a 12-month high of $122.15. The firm has a market cap of $107.68 billion, a P/E ratio of 23.52, a PEG ratio of 2.01 and a beta of 0.67.

Medtronic (NYSE:MDT) last posted its quarterly earnings results on Tuesday, February 18th. The medical technology company reported $1.44 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.38 by $0.06. The business had revenue of $7.72 billion during the quarter, compared to analyst estimates of $7.80 billion. Medtronic had a net margin of 17.11% and a return on equity of 14.76%. The company’s revenue was up 2.3% on a year-over-year basis. During the same period in the prior year, the business posted $1.29 earnings per share. As a group, analysts expect that Medtronic PLC will post 5.64 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Friday, April 17th. Stockholders of record on Friday, March 27th will be issued a dividend of $0.54 per share. The ex-dividend date of this dividend is Thursday, March 26th. This represents a $2.16 dividend on an annualized basis and a dividend yield of 2.33%. Medtronic’s dividend payout ratio is currently 41.38%.

About Medtronic

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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