Sonora Investment Management Group LLC Has $10.28 Million Stake in Medtronic plc (NYSE:MDT)

Sonora Investment Management Group LLC cut its stake in Medtronic plc (NYSE:MDT) by 0.2% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 128,663 shares of the medical technology company’s stock after selling 254 shares during the period. Sonora Investment Management Group LLC’s holdings in Medtronic were worth $10,278,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of MDT. EP Wealth Advisors LLC boosted its stake in Medtronic by 47.2% in the second quarter. EP Wealth Advisors LLC now owns 12,255 shares of the medical technology company’s stock valued at $965,000 after buying an additional 3,931 shares in the last quarter. Sanctuary Advisors LLC bought a new stake in shares of Medtronic during the 2nd quarter valued at approximately $13,571,000. Healthcare of Ontario Pension Plan Trust Fund lifted its stake in Medtronic by 1,195.9% in the 2nd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 1,837,600 shares of the medical technology company’s stock valued at $144,637,000 after purchasing an additional 1,695,800 shares during the last quarter. Anchor Investment Management LLC grew its stake in shares of Medtronic by 30.7% during the second quarter. Anchor Investment Management LLC now owns 106,247 shares of the medical technology company’s stock worth $8,363,000 after buying an additional 24,936 shares during the last quarter. Finally, Centaurus Financial Inc. increased its holdings in Medtronic by 34.8% in the 2nd quarter. Centaurus Financial Inc. now owns 6,250 shares of the medical technology company’s stock worth $492,000 after purchasing an additional 1,613 shares in the last quarter. 82.06% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities research analysts recently commented on the stock. Sanford C. Bernstein lifted their target price on shares of Medtronic from $96.00 to $97.00 and gave the stock an “outperform” rating in a research report on Wednesday, November 20th. Royal Bank of Canada raised Medtronic from a “sector perform” rating to an “outperform” rating and lifted their price objective for the stock from $98.00 to $105.00 in a research note on Thursday, October 10th. JPMorgan Chase & Co. reduced their price objective on shares of Medtronic from $99.00 to $96.00 and set a “neutral” rating on the stock in a research note on Friday, November 15th. Robert W. Baird dropped their target price on shares of Medtronic from $96.00 to $93.00 and set a “neutral” rating on the stock in a report on Wednesday, November 20th. Finally, Needham & Company LLC reissued a “hold” rating on shares of Medtronic in a research note on Monday, November 18th. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating, six have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, Medtronic has a consensus rating of “Hold” and a consensus target price of $95.00.

Insider Activity

In other news, EVP Brett A. Wall sold 12,437 shares of the business’s stock in a transaction that occurred on Friday, January 24th. The shares were sold at an average price of $90.00, for a total value of $1,119,330.00. Following the sale, the executive vice president now owns 40,979 shares of the company’s stock, valued at $3,688,110. The trade was a 23.28 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Insiders own 0.20% of the company’s stock.

Medtronic Stock Up 0.7 %

Medtronic stock opened at $92.01 on Friday. Medtronic plc has a fifty-two week low of $75.96 and a fifty-two week high of $93.08. The firm’s 50-day simple moving average is $84.14 and its 200 day simple moving average is $85.87. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.39 and a current ratio of 1.84. The stock has a market cap of $117.98 billion, a PE ratio of 28.14, a price-to-earnings-growth ratio of 2.59 and a beta of 0.83.

Medtronic (NYSE:MDT) last posted its quarterly earnings data on Tuesday, November 19th. The medical technology company reported $1.26 earnings per share for the quarter, topping the consensus estimate of $1.25 by $0.01. The business had revenue of $8.40 billion for the quarter, compared to analysts’ expectations of $8.27 billion. Medtronic had a return on equity of 13.79% and a net margin of 13.00%. The business’s revenue was up 5.2% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.25 earnings per share. Research analysts predict that Medtronic plc will post 5.45 EPS for the current fiscal year.

Medtronic Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, January 10th. Stockholders of record on Friday, December 27th were given a dividend of $0.70 per share. This represents a $2.80 dividend on an annualized basis and a dividend yield of 3.04%. The ex-dividend date was Friday, December 27th. Medtronic’s dividend payout ratio is currently 85.63%.

About Medtronic

Medtronic plc develops, manufactures, and sells device-based medical therapies to healthcare systems, physicians, clinicians, and patients worldwide. Its Cardiovascular Portfolio segment offers implantable cardiac pacemakers, cardioverter defibrillators, and cardiac resynchronization therapy devices; cardiac ablation products; insertable cardiac monitor systems; TYRX products; and remote monitoring and patient-centered software.