Quotient Wealth Partners LLC Sells 642 Shares of Medtronic plc (NYSE:MDT)

Quotient Wealth Partners LLC trimmed its stake in shares of Medtronic plc (NYSE:MDT) by 7.6% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 7,831 shares of the medical technology company’s stock after selling 642 shares during the quarter. Quotient Wealth Partners LLC’s holdings in Medtronic were worth $626,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also modified their holdings of the stock. Benedict Financial Advisors Inc. grew its holdings in shares of Medtronic by 0.3% in the 4th quarter. Benedict Financial Advisors Inc. now owns 73,757 shares of the medical technology company’s stock worth $5,892,000 after purchasing an additional 243 shares during the last quarter. Richard C. Young & CO. LTD. increased its holdings in shares of Medtronic by 1.0% during the fourth quarter. Richard C. Young & CO. LTD. now owns 140,621 shares of the medical technology company’s stock worth $11,233,000 after buying an additional 1,389 shares in the last quarter. WCM Investment Management LLC increased its holdings in shares of Medtronic by 146.3% during the fourth quarter. WCM Investment Management LLC now owns 47,940 shares of the medical technology company’s stock worth $3,817,000 after buying an additional 28,473 shares in the last quarter. Entropy Technologies LP bought a new position in shares of Medtronic in the fourth quarter valued at approximately $5,072,000. Finally, Empowered Funds LLC grew its position in Medtronic by 2.7% during the 4th quarter. Empowered Funds LLC now owns 105,822 shares of the medical technology company’s stock worth $8,453,000 after acquiring an additional 2,778 shares during the last quarter. Institutional investors own 82.06% of the company’s stock.

Insider Transactions at Medtronic

In related news, EVP Brett A. Wall sold 12,437 shares of the company’s stock in a transaction dated 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 sale, the executive vice president now owns 40,979 shares in the company, valued at approximately $3,688,110. This represents a 23.28 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 0.20% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on MDT. Sanford C. Bernstein upped their price target on shares of Medtronic from $96.00 to $97.00 and gave the stock an “outperform” rating in a research report on Wednesday, November 20th. Barclays increased their price target 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. Robert W. Baird dropped their price objective on shares of Medtronic from $96.00 to $93.00 and set a “neutral” rating for the company in a research report on Wednesday, November 20th. Needham & Company LLC reiterated a “hold” rating on shares of Medtronic in a research report on Monday, November 18th. Finally, JPMorgan Chase & Co. cut their price target on Medtronic from $99.00 to $96.00 and set a “neutral” rating on the stock in a research note on Friday, November 15th. One research analyst has rated the stock with a sell rating, nine have given a hold rating, six have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $95.00.

Medtronic Stock Down 0.9 %

Shares of Medtronic stock opened at $90.01 on Monday. 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 business has a 50-day moving average of $84.85 and a two-hundred day moving average of $86.43. Medtronic plc has a 1 year low of $75.96 and a 1 year high of $93.08. The company has a market capitalization of $115.42 billion, a P/E ratio of 27.53, a price-to-earnings-growth ratio of 2.57 and a beta of 0.84.

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

Medtronic Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, January 10th. Stockholders of record on Friday, December 27th were issued a $0.70 dividend. The ex-dividend date of this dividend was Friday, December 27th. This represents a $2.80 dividend on an annualized basis and a dividend yield of 3.11%. Medtronic’s dividend payout ratio (DPR) is 85.63%.

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.