Quent Capital LLC Sells 661 Shares of Medtronic plc (NYSE:MDT)

Quent Capital LLC lowered its stake in shares of Medtronic plc (NYSE:MDT) by 32.5% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 1,372 shares of the medical technology company’s stock after selling 661 shares during the quarter. Quent Capital LLC’s holdings in Medtronic were worth $110,000 at the end of the most recent quarter.

Several other large investors have also recently modified their holdings of the stock. Fortitude Family Office LLC bought a new position in Medtronic in the 3rd quarter valued at $27,000. Highline Wealth Partners LLC bought a new position in Medtronic in the 3rd quarter valued at $27,000. Darwin Wealth Management LLC bought a new position in Medtronic in the 3rd quarter valued at $27,000. Stephens Consulting LLC grew its position in Medtronic by 145.7% in the 4th quarter. Stephens Consulting LLC now owns 344 shares of the medical technology company’s stock valued at $27,000 after acquiring an additional 204 shares during the last quarter. Finally, J. Stern & Co. LLP bought a new position in Medtronic in the 3rd quarter valued at $30,000. Institutional investors own 82.06% of the company’s stock.

Insider Buying and Selling at Medtronic

In other Medtronic news, EVP Brett A. Wall sold 12,437 shares of the stock in a transaction dated 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 directly owns 40,979 shares in the company, valued at approximately $3,688,110. This trade represents a 23.28 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 0.20% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several brokerages have commented on MDT. JPMorgan Chase & Co. cut their price objective on Medtronic from $99.00 to $96.00 and set a “neutral” rating on the stock in a research report on Friday, November 15th. Needham & Company LLC reaffirmed a “hold” rating on shares of Medtronic in a research report on Wednesday. Wells Fargo & Company dropped their price target on Medtronic from $106.00 to $98.00 and set an “overweight” rating on the stock in a research report on Wednesday, November 20th. Sanford C. Bernstein increased their price target on Medtronic from $96.00 to $97.00 and gave the stock an “outperform” rating in a research report on Wednesday, November 20th. Finally, Robert W. Baird dropped their price target on Medtronic from $96.00 to $93.00 and set a “neutral” rating on the stock in a research report on Wednesday, November 20th. One analyst has rated the stock with a sell rating, nine have issued a hold rating, six have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company has an average rating of “Hold” and an average price target of $95.00.

Medtronic Trading Up 0.2 %

Shares of NYSE MDT opened at $91.35 on Thursday. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.84 and a quick ratio of 1.39. The stock has a market capitalization of $117.14 billion, a P/E ratio of 27.94, a price-to-earnings-growth ratio of 2.57 and a beta of 0.84. Medtronic plc has a 1-year low of $75.96 and a 1-year high of $93.08. The business has a fifty day moving average price of $85.04 and a 200 day moving average price of $86.65.

Medtronic (NYSE:MDT) last issued its quarterly earnings data on Tuesday, November 19th. The medical technology company reported $1.26 earnings per share for the quarter, topping analysts’ consensus estimates of $1.25 by $0.01. The firm had revenue of $8.40 billion during 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 firm’s quarterly revenue was up 5.2% on a year-over-year basis. During the same period in the prior year, the business posted $1.25 EPS. Equities research analysts expect that Medtronic plc will post 5.45 EPS for the current fiscal year.

Medtronic Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, January 10th. Shareholders of record on Friday, December 27th were paid a $0.70 dividend. This represents a $2.80 dividend on an annualized basis and a yield of 3.07%. The ex-dividend date was Friday, December 27th. Medtronic’s dividend payout ratio (DPR) is presently 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.