Dana Investment Advisors Inc. Sells 651 Shares of Medtronic plc (NYSE:MDT)

Dana Investment Advisors Inc. cut its stake in Medtronic plc (NYSE:MDT) by 18.3% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 2,897 shares of the medical technology company’s stock after selling 651 shares during the quarter. Dana Investment Advisors Inc.’s holdings in Medtronic were worth $231,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently modified their holdings of the company. Mainstream Capital Management LLC bought a new stake in Medtronic during the 4th quarter worth approximately $26,000. Darwin Wealth Management LLC bought a new stake in Medtronic during the 3rd quarter worth approximately $27,000. Stephens Consulting LLC increased its stake in 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 in the last quarter. J. Stern & Co. LLP bought a new stake in Medtronic during the 3rd quarter worth approximately $30,000. Finally, Fiduciary Advisors Inc. bought a new stake in Medtronic during the 4th quarter worth approximately $36,000. 82.06% of the stock is owned by institutional investors.

Medtronic Trading Up 1.6 %

NYSE MDT opened at $94.58 on Monday. The company has a market cap of $121.30 billion, a PE ratio of 28.75, a PEG ratio of 2.22 and a beta of 0.80. The company has a current ratio of 1.90, a quick ratio of 1.39 and a debt-to-equity ratio of 0.48. Medtronic plc has a 12 month low of $75.96 and a 12 month high of $95.57. The stock has a 50 day moving average of $88.33 and a 200-day moving average of $87.80.

Medtronic (NYSE:MDT) last announced its quarterly earnings results on Tuesday, February 18th. The medical technology company reported $1.39 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.36 by $0.03. Medtronic had a return on equity of 14.07% and a net margin of 12.83%. The business had revenue of $8.29 billion during the quarter, compared to the consensus estimate of $8.33 billion. On average, equities research analysts anticipate that Medtronic plc will post 5.46 EPS for the current fiscal year.

Medtronic Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, April 11th. Shareholders of record on Friday, March 28th will be issued a dividend of $0.70 per share. This represents a $2.80 annualized dividend and a yield of 2.96%. The ex-dividend date is Friday, March 28th. Medtronic’s dividend payout ratio is 85.11%.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on MDT. UBS Group increased their target price on Medtronic from $85.00 to $95.00 and gave the stock a “neutral” rating in a research note on Wednesday, February 19th. Sanford C. Bernstein raised their price target on shares of Medtronic from $96.00 to $97.00 and gave the stock an “outperform” rating in a research note on Wednesday, November 20th. Wells Fargo & Company decreased their price target 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. Robert W. Baird raised their price target on shares of Medtronic from $90.00 to $91.00 and gave the stock a “neutral” rating in a research note on Wednesday, February 19th. Finally, Barclays raised their price target on shares of Medtronic from $105.00 to $109.00 and gave the stock an “overweight” rating in a research note on Tuesday, November 26th. One analyst has rated the stock with a sell rating, eight have assigned a hold rating, six have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Hold” and a consensus price target of $96.07.

Insider Buying and Selling at Medtronic

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

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.