COFG Advisors LLC Acquires New Position in Medtronic PLC $MDT

COFG Advisors LLC acquired a new stake in Medtronic PLC (NYSE:MDT) during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 39,762 shares of the medical technology company’s stock, valued at approximately $3,820,000. Medtronic comprises about 0.9% of COFG Advisors LLC’s portfolio, making the stock its 19th biggest holding.

Several other hedge funds and other institutional investors also recently made changes to their positions in MDT. Curbstone Financial Management Corp grew its stake in shares of Medtronic by 1.8% during the fourth quarter. Curbstone Financial Management Corp now owns 5,594 shares of the medical technology company’s stock worth $537,000 after buying an additional 100 shares during the last quarter. New England Capital Financial Advisors LLC increased its holdings in Medtronic by 7.8% in the fourth quarter. New England Capital Financial Advisors LLC now owns 1,403 shares of the medical technology company’s stock valued at $135,000 after purchasing an additional 101 shares during the period. Baker Tilly Wealth Management LLC increased its holdings in Medtronic by 3.3% in the fourth quarter. Baker Tilly Wealth Management LLC now owns 3,221 shares of the medical technology company’s stock valued at $309,000 after purchasing an additional 102 shares during the period. Maseco LLP increased its holdings in Medtronic by 32.1% in the fourth quarter. Maseco LLP now owns 444 shares of the medical technology company’s stock valued at $43,000 after purchasing an additional 108 shares during the period. Finally, Holistic Financial Partners increased its holdings in Medtronic by 3.0% in the third quarter. Holistic Financial Partners now owns 3,697 shares of the medical technology company’s stock valued at $352,000 after purchasing an additional 109 shares during the period. 82.06% of the stock is owned by institutional investors.

Medtronic Price Performance

Medtronic stock opened at $73.95 on Tuesday. Medtronic PLC has a 12 month low of $73.67 and a 12 month high of $106.33. The company has a current ratio of 2.54, a quick ratio of 1.87 and a debt-to-equity ratio of 0.57. The business’s 50 day simple moving average is $82.11 and its 200 day simple moving average is $92.49. The company has a market cap of $94.94 billion, a price-to-earnings ratio of 20.60, a PEG ratio of 1.76 and a beta of 0.58.

Medtronic Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, April 17th. Shareholders of record on Friday, March 27th were issued a $0.71 dividend. The ex-dividend date of this dividend was Friday, March 27th. This represents a $2.84 annualized dividend and a yield of 3.8%. Medtronic’s payout ratio is 79.11%.

Analysts Set New Price Targets

MDT has been the subject of a number of recent research reports. Robert W. Baird increased their price objective on Medtronic from $92.00 to $93.00 and gave the company a “neutral” rating in a report on Wednesday, April 15th. Daiwa Securities Group cut their price target on shares of Medtronic from $117.00 to $115.00 and set a “buy” rating on the stock in a research report on Friday, February 27th. The Goldman Sachs Group set a $84.00 price target on shares of Medtronic and gave the company a “neutral” rating in a research report on Thursday, May 21st. Leerink Partners reaffirmed an “outperform” rating and set a $119.00 price target on shares of Medtronic in a research report on Tuesday, March 10th. Finally, Wall Street Zen cut shares of Medtronic from a “buy” rating to a “hold” rating in a research report on Saturday, April 11th. Fifteen investment analysts have rated the stock with a Buy rating and eleven have assigned a Hold rating to the company. According to data from MarketBeat.com, Medtronic presently has an average rating of “Moderate Buy” and a consensus price target of $106.45.

About Medtronic

Medtronic plc is a global medical technology company that develops and manufactures a broad range of therapeutic devices and health care solutions. Headquartered legally in Ireland with principal operational offices in the United States, the company markets products to hospitals, physicians and health systems worldwide and has grown from its founding in 1949 into one of the largest medical-device manufacturers serving global health-care markets.

Medtronic’s offerings span several clinical areas, including cardiac rhythm and heart failure (pacemakers, implantable cardioverter‑defibrillators and related cardiac therapies), minimally invasive and surgical technologies (laparoscopic and advanced energy devices, visualization systems and surgical innovations), restorative therapies (spine and orthopedics, neuromodulation and neurovascular treatments) and diabetes management (insulin-delivery systems and glucose monitoring solutions).