Sfmg LLC Sells 374 Shares of Medtronic plc (NYSE:MDT)

Sfmg LLC lowered its position in shares of Medtronic plc (NYSE:MDT) by 0.8% during the fourth quarter, HoldingsChannel.com reports. The fund owned 46,745 shares of the medical technology company’s stock after selling 374 shares during the quarter. Sfmg LLC’s holdings in Medtronic were worth $3,734,000 at the end of the most recent quarter.

Other institutional investors have also bought and sold shares of the company. Sei Investments Co. boosted its position in shares of Medtronic by 8.2% during the 4th quarter. Sei Investments Co. now owns 1,102,799 shares of the medical technology company’s stock worth $88,105,000 after purchasing an additional 83,393 shares in the last quarter. Vestor Capital LLC boosted its position in shares of Medtronic by 0.3% during the 4th quarter. Vestor Capital LLC now owns 51,375 shares of the medical technology company’s stock worth $4,104,000 after purchasing an additional 138 shares in the last quarter. Mizuho Securities USA LLC boosted its position in shares of Medtronic by 46.1% during the 4th quarter. Mizuho Securities USA LLC now owns 121,549 shares of the medical technology company’s stock worth $9,709,000 after purchasing an additional 38,379 shares in the last quarter. Virtu Financial LLC bought a new position in shares of Medtronic during the 4th quarter worth about $3,713,000. Finally, Quantbot Technologies LP bought a new position in shares of Medtronic during the 4th quarter worth about $2,238,000. Institutional investors own 82.06% of the company’s stock.

Insider Transactions at Medtronic

In other news, EVP Brett A. Wall sold 12,437 shares of the firm’s stock in a transaction that occurred on Friday, January 24th. The shares were 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 in the company, 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 at this hyperlink. 0.20% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on the stock. Barclays increased their price objective on shares of Medtronic from $105.00 to $109.00 and gave the stock an “overweight” rating in a research report on Tuesday, November 26th. UBS Group raised their price target on shares of Medtronic from $85.00 to $95.00 and gave the company a “neutral” rating in a research report on Wednesday, February 19th. Citigroup raised shares of Medtronic from a “neutral” rating to a “buy” rating and raised their price target for the company from $92.00 to $107.00 in a research report on Tuesday, March 4th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $105.00 price target on shares of Medtronic in a research report on Wednesday, February 19th. Finally, Needham & Company LLC reaffirmed a “hold” rating on shares of Medtronic in a research report on Wednesday, February 19th. One research 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. According to data from MarketBeat, Medtronic has a consensus rating of “Hold” and an average price target of $96.07.

Medtronic Trading Down 0.9 %

NYSE:MDT opened at $90.37 on Friday. The company has a debt-to-equity ratio of 0.48, a quick ratio of 1.39 and a current ratio of 1.90. The firm has a market cap of $115.90 billion, a price-to-earnings ratio of 27.47, a price-to-earnings-growth ratio of 2.22 and a beta of 0.80. Medtronic plc has a 52 week low of $75.96 and a 52 week high of $96.25. The firm has a 50-day moving average price of $90.67 and a two-hundred day moving average price of $88.08.

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

Medtronic Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, April 11th. Stockholders of record on Friday, March 28th will be paid a dividend of $0.70 per share. The ex-dividend date is Friday, March 28th. This represents a $2.80 annualized dividend and a dividend yield of 3.10%. Medtronic’s payout ratio is currently 85.11%.

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.