Chilton Capital Management LLC Grows Position in Medtronic PLC (MDT)

Chilton Capital Management LLC increased its position in Medtronic PLC (NYSE:MDT) by 749.6% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 120,524 shares of the medical technology company’s stock after buying an additional 106,338 shares during the period. Chilton Capital Management LLC’s holdings in Medtronic were worth $10,963,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Tributary Capital Management LLC bought a new stake in shares of Medtronic in the fourth quarter valued at approximately $27,000. Highwater Wealth Management LLC bought a new stake in shares of Medtronic in the fourth quarter valued at approximately $39,000. IMS Capital Management bought a new stake in shares of Medtronic in the third quarter valued at approximately $41,000. Contravisory Investment Management Inc. lifted its position in Medtronic by 220.0% in the fourth quarter. Contravisory Investment Management Inc. now owns 480 shares of the medical technology company’s stock worth $44,000 after purchasing an additional 330 shares during the period. Finally, Karp Capital Management Corp bought a new position in Medtronic in the fourth quarter worth $46,000. Hedge funds and other institutional investors own 80.59% of the company’s stock.

Medtronic stock opened at $93.79 on Friday. The company has a debt-to-equity ratio of 0.47, a current ratio of 2.36 and a quick ratio of 1.92. Medtronic PLC has a 52-week low of $76.41 and a 52-week high of $100.15. The firm has a market cap of $125.79 billion, a price-to-earnings ratio of 19.66, a P/E/G ratio of 2.40 and a beta of 0.82.

Medtronic (NYSE:MDT) last released its quarterly earnings data on Tuesday, February 19th. The medical technology company reported $1.29 earnings per share (EPS) for the quarter, topping the 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 firm had revenue of $7.55 billion during the quarter, compared to analyst estimates of $7.53 billion. During the same period in the prior year, the company posted $1.17 earnings per share. The business’s revenue for the quarter was up 2.4% compared to the same quarter last year. Equities analysts anticipate that Medtronic PLC will post 5.15 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, April 12th. Shareholders of record on Friday, March 22nd will be paid a dividend of $0.50 per share. The ex-dividend date of this dividend is Thursday, March 21st. This represents a $2.00 annualized dividend and a yield of 2.13%. Medtronic’s dividend payout ratio is currently 41.93%.

In related news, CEO Omar Ishrak acquired 12,000 shares of the company’s stock in a transaction on Wednesday, January 9th. The stock was purchased at an average cost of $84.05 per share, for a total transaction of $1,008,600.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CFO Karen L. Parkhill acquired 3,000 shares of the company’s stock in a transaction on Wednesday, January 9th. The shares were bought 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. Corporate insiders own 0.28% of the company’s stock.

Several brokerages recently commented on MDT. Citigroup raised their target price on Medtronic from $95.00 to $101.00 and gave the stock a “neutral” rating in a research report on Monday, February 25th. Barclays reaffirmed a “buy” rating and issued a $104.00 target price on shares of Medtronic in a research report on Wednesday, February 20th. Oppenheimer set a $104.00 target price on Medtronic and gave the stock a “buy” rating in a research report on Wednesday, February 20th. Needham & Company LLC reaffirmed a “strong-buy” rating and issued a $117.00 target price (down from $120.00) on shares of Medtronic in a research report on Monday, February 4th. Finally, BTIG Research raised Medtronic from a “neutral” rating to a “buy” rating and set a $100.00 target price for the company in a research report on Tuesday, January 15th. Nine investment analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has assigned a strong buy rating to the company. The company currently has a consensus rating of “Buy” and an average target price of $104.32.

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Medtronic 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.

Read More: Understanding each part of a balance sheet

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Institutional Ownership by Quarter for Medtronic (NYSE:MDT)

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