Medtronic plc (NYSE:MDT) Shares Sold by Stratos Investment Management LLC

Stratos Investment Management LLC trimmed its position in Medtronic plc (NYSE:MDT) by 7.3% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 28,904 shares of the medical technology company’s stock after selling 2,267 shares during the quarter. Stratos Investment Management LLC’s holdings in Medtronic were worth $2,309,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. Sargent Investment Group LLC bought a new stake in shares of Medtronic in the fourth quarter worth $453,000. Old North State Wealth Management LLC grew its holdings in Medtronic by 4.9% during the 4th quarter. Old North State Wealth Management LLC now owns 33,114 shares of the medical technology company’s stock worth $2,648,000 after acquiring an additional 1,548 shares in the last quarter. Tranquilli Financial Advisor LLC increased its position in shares of Medtronic by 23.8% in the 4th quarter. Tranquilli Financial Advisor LLC now owns 6,470 shares of the medical technology company’s stock worth $517,000 after purchasing an additional 1,242 shares during the last quarter. Mather Group LLC. raised its stake in shares of Medtronic by 7.1% in the 4th quarter. Mather Group LLC. now owns 2,517 shares of the medical technology company’s stock valued at $201,000 after purchasing an additional 167 shares in the last quarter. Finally, Stephens Consulting LLC lifted its position in shares of Medtronic by 145.7% during the fourth 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. Institutional investors and hedge funds own 82.06% of the company’s stock.

Insider Activity at Medtronic

In other Medtronic news, EVP Brett A. Wall sold 12,437 shares of the business’s stock in a transaction that occurred 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 transaction, the executive vice president now owns 40,979 shares of the company’s stock, valued at $3,688,110. The trade was a 23.28 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.20% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on MDT shares. Wells Fargo & Company cut their price target on Medtronic from $106.00 to $98.00 and set an “overweight” rating on the stock in a report on Wednesday, November 20th. Robert W. Baird cut their price objective on shares of Medtronic from $96.00 to $93.00 and set a “neutral” rating on the stock in a research note on Wednesday, November 20th. Royal Bank of Canada upgraded shares of Medtronic from a “sector perform” rating to an “outperform” rating and increased their target price for the company from $98.00 to $105.00 in a research report on Thursday, October 10th. 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 note on Wednesday, November 20th. Finally, JPMorgan Chase & Co. decreased their price objective on shares of Medtronic from $99.00 to $96.00 and set a “neutral” rating for the company in a report on Friday, November 15th. One research analyst has rated the stock with a sell rating, nine have given a hold rating, six have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $95.00.

Medtronic Stock Up 0.5 %

Shares of NYSE MDT opened at $90.99 on Wednesday. The business has a fifty day moving average of $84.47 and a two-hundred day moving average of $86.16. 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 cap of $116.67 billion, a PE ratio of 27.82, a PEG ratio of 2.57 and a beta of 0.84. Medtronic plc has a 52-week low of $75.96 and a 52-week high of $93.08.

Medtronic (NYSE:MDT) last issued its earnings results 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. The company had revenue of $8.40 billion for the quarter, compared to analyst estimates of $8.27 billion. Medtronic had a net margin of 13.00% and a return on equity of 13.79%. The company’s revenue for the quarter was up 5.2% on a year-over-year basis. During the same quarter last year, the firm earned $1.25 EPS. As a group, equities research analysts expect that Medtronic plc will post 5.45 earnings per share for the current fiscal year.

Medtronic Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, January 10th. Investors 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 dividend yield of 3.08%. Medtronic’s payout ratio 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.