Continental Investors Services Inc. Invests $397,000 in Medtronic plc (NYSE:MDT)

Continental Investors Services Inc. purchased a new stake in Medtronic plc (NYSE:MDT – Get Rating) during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund purchased 4,416 shares of the medical technology company’s stock, valued at approximately $397,000.

A number of other large investors have also recently bought and sold shares of the stock. Perigon Wealth Management LLC boosted its position in Medtronic by 4.5% in the third quarter. Perigon Wealth Management LLC now owns 5,432 shares of the medical technology company’s stock valued at $439,000 after buying an additional 234 shares in the last quarter. WealthPlan Investment Management LLC acquired a new position in shares of Medtronic in the 3rd quarter worth approximately $14,353,000. EP Wealth Advisors LLC grew its position in Medtronic by 48.4% during the 3rd quarter. EP Wealth Advisors LLC now owns 11,769 shares of the medical technology company’s stock worth $950,000 after acquiring an additional 3,836 shares during the last quarter. CVA Family Office LLC increased its holdings in Medtronic by 71.9% during the 3rd quarter. CVA Family Office LLC now owns 8,690 shares of the medical technology company’s stock valued at $702,000 after purchasing an additional 3,636 shares in the last quarter. Finally, IHT Wealth Management LLC raised its position in Medtronic by 21.5% in the 3rd quarter. IHT Wealth Management LLC now owns 8,533 shares of the medical technology company’s stock valued at $689,000 after purchasing an additional 1,509 shares during the last quarter. 80.37% of the stock is currently owned by institutional investors.

Insider Transactions at Medtronic

In other news, major shareholder Plc Medtronic purchased 6,835 shares of the business’s stock in a transaction dated Monday, January 30th. The shares were bought at an average cost of $9.28 per share, for a total transaction of $63,428.80. Following the completion of the acquisition, the insider now directly owns 4,999,423 shares in the company, valued at approximately $46,394,645.44. The purchase was disclosed in a filing with the SEC, which can be accessed through this link. 0.29% of the stock is owned by insiders.

Medtronic Stock Performance

Shares of Medtronic stock opened at $78.29 on Friday. The stock’s fifty day simple moving average is $82.06 and its 200 day simple moving average is $82.22. The company has a current ratio of 1.76, a quick ratio of 1.39 and a debt-to-equity ratio of 0.43. The company has a market capitalization of $104.16 billion, a PE ratio of 25.75, a PEG ratio of 2.37 and a beta of 0.71. Medtronic plc has a 12 month low of $75.76 and a 12 month high of $114.31.

Medtronic (NYSE:MDT – Get Rating) last announced its quarterly earnings results on Tuesday, February 21st. The medical technology company reported $1.30 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.27 by $0.03. Medtronic had a return on equity of 13.37% and a net margin of 13.20%. The company had revenue of $7.70 billion during the quarter, compared to the consensus estimate of $7.53 billion. During the same period in the prior year, the company earned $1.37 earnings per share. The company’s revenue for the quarter was down .8% compared to the same quarter last year. On average, research analysts predict that Medtronic plc will post 5.28 EPS for the current year.

Medtronic Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, April 14th. Stockholders of record on Friday, March 24th will be issued a $0.68 dividend. This represents a $2.72 annualized dividend and a dividend yield of 3.47%. The ex-dividend date of this dividend is Thursday, March 23rd. Medtronic’s dividend payout ratio (DPR) is presently 89.47%.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on MDT. Cowen lowered their target price on Medtronic from $117.00 to $90.00 in a research note on Wednesday, November 23rd. Mizuho reduced their target price on shares of Medtronic from $100.00 to $95.00 and set a “buy” rating on the stock in a research report on Tuesday, January 24th. Wells Fargo & Company lowered their price target on shares of Medtronic from $82.00 to $77.00 and set an “equal weight” rating for the company in a report on Wednesday, November 30th. Royal Bank of Canada downgraded Medtronic from an “outperform” rating to a “sector perform” rating and reduced their price objective for the stock from $102.00 to $89.00 in a report on Monday, January 9th. Finally, Morgan Stanley lowered their target price on Medtronic from $97.00 to $88.00 and set an “equal weight” rating for the company in a research note on Wednesday, November 23rd. One analyst has rated the stock with a sell rating, fourteen have given a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $90.72.

Medtronic Profile

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Medtronic Plc is a medical technology company, which engages in the development, manufacture, distribution, and sale of device-based medical therapies and services. It operates through the following segments: Cardiovascular Porrtfolio, Neuroscience Portfolio, Medical Surgical Portfolio, and Diabetes Operating Unit.