First Hawaiian Bank boosted its position in shares of Medtronic PLC (NYSE:MDT) by 6.4% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 34,006 shares of the medical technology company’s stock after acquiring an additional 2,060 shares during the quarter. First Hawaiian Bank’s holdings in Medtronic were worth $3,094,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Highwater Wealth Management LLC bought a new stake in Medtronic during the fourth quarter worth $39,000. IMS Capital Management bought a new stake in Medtronic during the third quarter worth $41,000. Cornerstone Advisors Inc. raised its position in Medtronic by 12.2% during the third quarter. Cornerstone Advisors Inc. now owns 1,165 shares of the medical technology company’s stock worth $115,000 after acquiring an additional 127 shares in the last quarter. Polaris Greystone Financial Group LLC raised its position in Medtronic by 255.1% during the third quarter. Polaris Greystone Financial Group LLC now owns 1,321 shares of the medical technology company’s stock worth $130,000 after acquiring an additional 949 shares in the last quarter. Finally, Amussen Hunsaker Associates LLC raised its position in Medtronic by 87.4% during the third quarter. Amussen Hunsaker Associates LLC now owns 1,535 shares of the medical technology company’s stock worth $141,000 after acquiring an additional 716 shares in the last quarter. 80.79% of the stock is currently owned by hedge funds and other institutional investors.

Shares of MDT opened at $84.84 on Friday. The company has a debt-to-equity ratio of 0.48, a quick ratio of 2.11 and a current ratio of 2.56. Medtronic PLC has a fifty-two week low of $76.41 and a fifty-two week high of $100.15. The stock has a market capitalization of $113.22 billion, a PE ratio of 17.79, a P/E/G ratio of 2.19 and a beta of 0.93.

Medtronic (NYSE:MDT) last released its quarterly earnings results on Tuesday, November 20th. The medical technology company reported $1.22 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.15 by $0.07. Medtronic had a net margin of 7.44% and a return on equity of 13.51%. The business had revenue of $7.48 billion for the quarter, compared to the consensus estimate of $7.35 billion. During the same period in the prior year, the company posted $1.07 earnings per share. Medtronic’s revenue was up 6.1% compared to the same quarter last year. Equities research analysts anticipate that Medtronic PLC will post 5.13 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Friday, January 18th. Investors of record on Friday, December 28th will be paid a $0.50 dividend. The ex-dividend date of this dividend is Thursday, December 27th. This represents a $2.00 annualized dividend and a dividend yield of 2.36%. Medtronic’s dividend payout ratio (DPR) is presently 41.93%.

In other Medtronic news, CFO Karen L. Parkhill purchased 3,000 shares of the firm’s stock in a transaction that occurred on Wednesday, January 9th. The shares were acquired at an average cost of $83.87 per share, for a total transaction of $251,610.00. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Omar Ishrak purchased 12,000 shares of the firm’s stock in a transaction that occurred on Wednesday, January 9th. The stock was acquired at an average price of $84.05 per share, for a total transaction of $1,008,600.00. The disclosure for this purchase can be found here. Corporate insiders own 0.28% of the company’s stock.

Several analysts have issued reports on MDT shares. ValuEngine lowered shares of Medtronic from a “buy” rating to a “hold” rating in a research report on Monday. Barclays dropped their price target on shares of Medtronic from $113.00 to $104.00 and set an “overweight” rating on the stock in a research report on Tuesday. Deutsche Bank began coverage on shares of Medtronic in a research report on Wednesday, January 2nd. They issued a “buy” rating and a $99.00 price objective on the stock. Citigroup lowered shares of Medtronic from a “buy” rating to a “neutral” rating and dropped their price objective for the company from $109.00 to $96.00 in a research report on Wednesday, January 2nd. Finally, UBS Group began coverage on shares of Medtronic in a research report on Wednesday, November 28th. They issued a “buy” rating and a $112.00 price objective on the stock. Nine investment analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the stock. Medtronic currently has a consensus rating of “Buy” and a consensus target price of $104.38.

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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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