PSI Advisors LLC Sells 301 Shares of Medtronic plc (NYSE:MDT)

PSI Advisors LLC lowered its holdings in Medtronic plc (NYSE:MDT) by 41.2% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 429 shares of the medical technology company’s stock after selling 301 shares during the period. PSI Advisors LLC’s holdings in Medtronic were worth $34,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. Fortitude Family Office LLC purchased a new position in shares of Medtronic in the 3rd quarter worth about $27,000. Darwin Wealth Management LLC bought a new stake in Medtronic in the third quarter worth about $27,000. Highline Wealth Partners LLC purchased a new position in Medtronic in the third quarter valued at about $27,000. J. Stern & Co. LLP bought a new position in shares of Medtronic during the 3rd quarter valued at approximately $30,000. Finally, Chelsea Counsel Co. purchased a new stake in shares of Medtronic during the 3rd quarter worth approximately $45,000. Institutional investors own 82.06% of the company’s stock.

Insider Activity at Medtronic

In other Medtronic news, EVP Brett A. Wall sold 9,850 shares of the business’s stock in a transaction that occurred on Wednesday, January 8th. The shares were sold at an average price of $80.41, for a total value of $792,038.50. Following the completion of the transaction, the executive vice president now owns 40,708 shares of the company’s stock, valued at $3,273,330.28. The trade was a 19.48 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.20% of the stock is currently owned by insiders.

Medtronic Stock Up 4.1 %

Shares of NYSE:MDT opened at $85.16 on Wednesday. The firm has a fifty day moving average price of $83.74 and a two-hundred day moving average price of $85.01. The company has a market cap of $109.20 billion, a price-to-earnings ratio of 26.04, a PEG ratio of 2.33 and a beta of 0.83. 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 one year low of $75.96 and a one year high of $92.68.

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

Medtronic Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, January 10th. Investors of record on Friday, December 27th were given a $0.70 dividend. This represents a $2.80 annualized dividend and a dividend yield of 3.29%. The ex-dividend date was Friday, December 27th. Medtronic’s dividend payout ratio (DPR) is 85.63%.

Wall Street Analyst Weigh In

MDT has been the topic of several research analyst reports. Evercore ISI upped their price objective on Medtronic from $100.00 to $104.00 and gave the company an “outperform” rating in a research note on Tuesday, October 1st. Needham & Company LLC reaffirmed a “hold” rating on shares of Medtronic in a research report on Monday, November 18th. JPMorgan Chase & Co. decreased their price objective on Medtronic from $99.00 to $96.00 and set a “neutral” rating for the company in a report on Friday, November 15th. Wells Fargo & Company dropped their price objective on shares of Medtronic from $106.00 to $98.00 and set an “overweight” rating on the stock in a report on Wednesday, November 20th. Finally, Citigroup lifted their target price on shares of Medtronic from $85.00 to $92.00 and gave the stock a “neutral” rating in a research note on Tuesday, October 1st. 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. According to MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $95.00.

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.