Maple Capital Management Inc. lifted its stake in shares of Medtronic PLC (NYSE:MDT) by 1.6% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 84,928 shares of the medical technology company’s stock after acquiring an additional 1,346 shares during the period. Medtronic accounts for approximately 2.0% of Maple Capital Management Inc.’s portfolio, making the stock its 24th biggest holding. Maple Capital Management Inc.’s holdings in Medtronic were worth $7,725,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently bought and sold shares of the stock. Cohen Lawrence B raised its holdings in shares of Medtronic by 1.3% during the 4th quarter. Cohen Lawrence B now owns 33,364 shares of the medical technology company’s stock valued at $3,035,000 after buying an additional 429 shares during the period. Stanley Laman Group Ltd. raised its holdings in shares of Medtronic by 2.3% during the 4th quarter. Stanley Laman Group Ltd. now owns 11,702 shares of the medical technology company’s stock valued at $1,064,000 after buying an additional 266 shares during the period. Advisors Asset Management Inc. raised its holdings in shares of Medtronic by 2.1% during the 3rd quarter. Advisors Asset Management Inc. now owns 279,026 shares of the medical technology company’s stock valued at $27,448,000 after buying an additional 5,628 shares during the period. State of Alaska Department of Revenue raised its holdings in shares of Medtronic by 3.4% during the 4th quarter. State of Alaska Department of Revenue now owns 196,530 shares of the medical technology company’s stock valued at $17,874,000 after buying an additional 6,432 shares during the period. Finally, Gideon Capital Advisors Inc. purchased a new stake in shares of Medtronic during the 3rd quarter valued at about $409,000. 81.46% of the stock is currently owned by institutional investors and hedge funds.

In other news, CEO Omar Ishrak purchased 12,000 shares of the stock in a transaction dated Wednesday, January 9th. The stock was acquired at an average cost of $84.05 per share, for a total transaction of $1,008,600.00. The acquisition was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CFO Karen L. Parkhill purchased 3,000 shares of the stock in a transaction dated Wednesday, January 9th. The stock was purchased at an average price 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 equities research analysts recently commented on the company. Northland Securities reiterated a “hold” rating and set a $84.00 target price on shares of Medtronic in a report on Monday, March 18th. Barclays reiterated a “buy” rating and set a $104.00 target price on shares of Medtronic in a report on Wednesday, February 20th. Citigroup raised their target price on Medtronic from $95.00 to $101.00 and gave the company a “neutral” rating in a report on Monday, February 25th. Credit Suisse Group started coverage on Medtronic in a report on Monday, December 17th. They set an “outperform” rating and a $109.00 target price on the stock. Finally, Oppenheimer set a $104.00 price objective on Medtronic and gave the stock a “buy” rating in a report on Wednesday, February 20th. Ten investment 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 company. The company currently has an average rating of “Buy” and an average price target of $103.43.

MDT stock opened at $90.39 on Monday. Medtronic PLC has a 52-week low of $76.41 and a 52-week high of $100.15. The company has a current ratio of 2.36, a quick ratio of 1.92 and a debt-to-equity ratio of 0.47. The company has a market cap of $121.23 billion, a price-to-earnings ratio of 18.95, a price-to-earnings-growth ratio of 2.18 and a beta of 0.82.

Medtronic (NYSE:MDT) last issued its quarterly earnings results on Tuesday, February 19th. The medical technology company reported $1.29 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.24 by $0.05. Medtronic had a return on equity of 13.85% and a net margin of 16.10%. The business had revenue of $7.55 billion during the quarter, compared to the consensus estimate of $7.53 billion. During the same period in the previous year, the business earned $1.17 EPS. The business’s quarterly revenue was up 2.4% on a year-over-year basis. On average, equities analysts forecast that Medtronic PLC will post 5.15 EPS for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Friday, April 12th. Stockholders of record on Friday, March 22nd will be issued a $0.50 dividend. The ex-dividend date of this dividend is Thursday, March 21st. This represents a $2.00 dividend on an annualized basis and a dividend yield of 2.21%. Medtronic’s dividend payout ratio (DPR) is 41.93%.

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Medtronic Company 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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