Strategic Advisors LLC Lowers Holdings in Medtronic plc (NYSE:MDT)

Strategic Advisors LLC lowered its position in Medtronic plc (NYSE:MDT) by 9.8% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 30,156 shares of the medical technology company’s stock after selling 3,282 shares during the period. Strategic Advisors LLC’s holdings in Medtronic were worth $2,409,000 at the end of the most recent quarter.

Other large investors have also modified their holdings of the company. Fortitude Family Office LLC acquired a new position in shares of Medtronic in the third quarter worth about $27,000. Highline Wealth Partners LLC acquired a new position in shares of Medtronic in the third quarter worth about $27,000. Darwin Wealth Management LLC acquired a new position in shares of Medtronic during the 3rd quarter worth about $27,000. Stephens Consulting LLC raised its position in shares of Medtronic by 145.7% during the 4th quarter. Stephens Consulting LLC now owns 344 shares of the medical technology company’s stock worth $27,000 after purchasing an additional 204 shares during the last quarter. Finally, J. Stern & Co. LLP acquired a new position in shares of Medtronic during the 3rd quarter worth about $30,000. Institutional investors and hedge funds own 82.06% of the company’s stock.

Insiders Place Their Bets

In other news, EVP Brett A. Wall sold 12,437 shares of the firm’s stock in a transaction 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 directly owns 40,979 shares in the company, valued at approximately $3,688,110. This trade represents a 23.28 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.20% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on the stock. Wells Fargo & Company dropped their price objective on shares of Medtronic from $106.00 to $98.00 and set an “overweight” rating for the company in a research note on Wednesday, November 20th. Barclays upped their price objective on shares of Medtronic from $105.00 to $109.00 and gave the company an “overweight” rating in a research note on Tuesday, November 26th. Needham & Company LLC reaffirmed a “hold” rating on shares of Medtronic in a research note on Wednesday, February 12th. Sanford C. Bernstein upped their price objective on shares of Medtronic from $96.00 to $97.00 and gave the company an “outperform” rating in a research note on Wednesday, November 20th. Finally, JPMorgan Chase & Co. dropped their price objective on shares of Medtronic from $99.00 to $96.00 and set a “neutral” rating for the company in a research note on Friday, November 15th. 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, the stock has a consensus rating of “Hold” and an average target price of $95.00.

Medtronic Stock Performance

NYSE:MDT opened at $93.02 on Monday. 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 capitalization of $119.28 billion, a P/E ratio of 28.45, a PEG ratio of 2.57 and a beta of 0.84. The company has a 50 day moving average price of $85.51 and a 200 day moving average price of $86.86. Medtronic plc has a fifty-two week low of $75.96 and a fifty-two week high of $93.08.

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 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 net margin of 13.00% and a return on equity of 13.79%. The firm’s quarterly revenue was up 5.2% on a year-over-year basis. During the same quarter last year, the company posted $1.25 EPS. Equities research analysts forecast that Medtronic plc will post 5.45 EPS for the current year.

Medtronic Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, January 10th. Shareholders of record on Friday, December 27th were issued a dividend of $0.70 per share. The ex-dividend date of this dividend was Friday, December 27th. This represents a $2.80 dividend on an annualized basis and a yield of 3.01%. 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.