Childress Capital Advisors LLC Reduces Holdings in Medtronic plc (NYSE:MDT)

Childress Capital Advisors LLC reduced its position in Medtronic plc (NYSE:MDT) by 11.7% during the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 3,766 shares of the medical technology company’s stock after selling 499 shares during the period. Childress Capital Advisors LLC’s holdings in Medtronic were worth $301,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in the business. Alliance Wealth Advisors LLC UT lifted its stake in shares of Medtronic by 0.3% during the 4th quarter. Alliance Wealth Advisors LLC UT now owns 54,456 shares of the medical technology company’s stock valued at $4,350,000 after buying an additional 145 shares in the last quarter. Leisure Capital Management boosted its holdings in shares of Medtronic by 1.9% in the fourth quarter. Leisure Capital Management now owns 13,040 shares of the medical technology company’s stock worth $1,042,000 after acquiring an additional 240 shares during the period. Brentview Investment Management LLC purchased a new position in shares of Medtronic in the fourth quarter valued at $3,056,000. S.A. Mason LLC raised its stake in shares of Medtronic by 21.4% during the 4th quarter. S.A. Mason LLC now owns 993 shares of the medical technology company’s stock valued at $79,000 after purchasing an additional 175 shares during the period. Finally, JB Capital LLC raised its stake in shares of Medtronic by 5.8% during the 4th quarter. JB Capital LLC now owns 116,877 shares of the medical technology company’s stock valued at $9,336,000 after purchasing an additional 6,381 shares during the period. 82.06% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on MDT shares. Royal Bank of Canada raised Medtronic from a “sector perform” rating to an “outperform” rating and lifted their target price for the company from $98.00 to $105.00 in a report on Thursday, October 10th. Robert W. Baird lowered their target price on shares of Medtronic from $96.00 to $93.00 and set a “neutral” rating on the stock in a research note on Wednesday, November 20th. Wells Fargo & Company reduced their price target on shares of Medtronic from $106.00 to $98.00 and set an “overweight” rating for the company in a research report on Wednesday, November 20th. Barclays lifted their price objective on Medtronic from $105.00 to $109.00 and gave the company an “overweight” rating in a research note on Tuesday, November 26th. Finally, Sanford C. Bernstein upped their target price on Medtronic from $96.00 to $97.00 and gave the stock an “outperform” rating in a research note on Wednesday, November 20th. One research analyst has rated the stock with a sell rating, nine have given a hold rating, six have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, Medtronic currently has a consensus rating of “Hold” and an average price target of $95.00.

Insider Buying and Selling

In other Medtronic news, EVP Brett A. Wall sold 12,437 shares of the stock in a transaction that occurred on Friday, January 24th. The stock was sold at an average price of $90.00, for a total value of $1,119,330.00. Following the completion of the sale, the executive vice president now owns 40,979 shares in the company, valued at approximately $3,688,110. This trade represents a 23.28 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 0.20% of the stock is owned by insiders.

Medtronic Trading Down 0.3 %

Shares of MDT stock opened at $90.55 on Tuesday. The business has a 50-day moving average of $84.38 and a 200 day moving average of $86.09. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.84 and a quick ratio of 1.39. Medtronic plc has a 1-year low of $75.96 and a 1-year high of $93.08. The stock has a market capitalization of $116.11 billion, a PE ratio of 27.69, a P/E/G ratio of 2.57 and a beta of 0.84.

Medtronic (NYSE:MDT) last released its quarterly earnings data on Tuesday, November 19th. The medical technology company reported $1.26 earnings per share for the quarter, beating analysts’ consensus estimates of $1.25 by $0.01. Medtronic had a return on equity of 13.79% and a net margin of 13.00%. The firm had revenue of $8.40 billion during the quarter, compared to analyst estimates of $8.27 billion. During the same quarter in the prior year, the firm posted $1.25 earnings per share. The business’s quarterly revenue was up 5.2% compared to the same quarter last year. As a group, sell-side analysts anticipate that Medtronic plc will post 5.45 earnings per share for the current year.

Medtronic Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, January 10th. Stockholders of record on Friday, December 27th were paid a dividend of $0.70 per share. This represents a $2.80 annualized dividend and a dividend yield of 3.09%. The ex-dividend date of this dividend was Friday, December 27th. Medtronic’s dividend payout ratio (DPR) is 85.63%.

Medtronic Company Profile

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.