Signet Financial Management LLC Sells 360 Shares of Medtronic plc (NYSE:MDT)

Signet Financial Management LLC lowered its position in shares of Medtronic plc (NYSE:MDT) by 11.0% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 2,917 shares of the medical technology company’s stock after selling 360 shares during the quarter. Signet Financial Management LLC’s holdings in Medtronic were worth $233,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Fortitude Family Office LLC bought a new stake in Medtronic during the third quarter worth $27,000. Highline Wealth Partners LLC bought a new stake in shares of Medtronic during the 3rd quarter worth $27,000. Darwin Wealth Management LLC purchased a new position in shares of Medtronic in the 3rd quarter worth about $27,000. J. Stern & Co. LLP bought a new position in Medtronic during the third quarter valued at about $30,000. Finally, Kieckhefer Group LLC purchased a new stake in Medtronic during the fourth quarter worth about $40,000. Hedge funds and other institutional investors own 82.06% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on the stock. Robert W. Baird reduced their target price 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. JPMorgan Chase & Co. decreased their target price on Medtronic from $99.00 to $96.00 and set a “neutral” rating for the company in a research report on Friday, November 15th. Barclays upped their price target on Medtronic from $105.00 to $109.00 and gave the company an “overweight” rating in a research report on Tuesday, November 26th. Sanford C. Bernstein lifted their price objective on Medtronic from $96.00 to $97.00 and gave the stock an “outperform” rating in a report on Wednesday, November 20th. Finally, Royal Bank of Canada raised shares of Medtronic from a “sector perform” rating to an “outperform” rating and upped their price objective for the company from $98.00 to $105.00 in a report on Thursday, October 10th. One research analyst has rated the stock with a sell rating, nine have issued a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $95.00.

Medtronic Trading Up 1.3 %

Medtronic stock opened at $81.68 on Tuesday. The stock has a market cap of $104.74 billion, a P/E ratio of 24.98, a PEG ratio of 2.33 and a beta of 0.83. Medtronic plc has a fifty-two week low of $75.96 and a fifty-two week high of $92.68. The firm’s fifty day moving average price is $83.83 and its 200-day moving average price is $84.96. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.39 and a current ratio of 1.84.

Medtronic (NYSE:MDT) last announced its earnings results on Tuesday, November 19th. The medical technology company reported $1.26 earnings per share for the quarter, topping analysts’ consensus estimates of $1.25 by $0.01. The business had revenue of $8.40 billion for the quarter, compared to analyst estimates of $8.27 billion. Medtronic had a return on equity of 13.79% and a net margin of 13.00%. The company’s quarterly revenue was up 5.2% compared to the same quarter last year. During the same period in the prior year, the company earned $1.25 EPS. Equities research analysts forecast that Medtronic plc will post 5.45 earnings per share for the current fiscal year.

Medtronic Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, January 10th. Shareholders of record on Friday, December 27th were given a dividend of $0.70 per share. The ex-dividend date was Friday, December 27th. This represents a $2.80 annualized dividend and a yield of 3.43%. Medtronic’s payout ratio is presently 85.63%.

Insiders Place Their Bets

In other Medtronic news, EVP Brett A. Wall sold 9,850 shares of Medtronic stock in a transaction dated Wednesday, January 8th. The stock was sold at an average price of $80.41, for a total transaction of $792,038.50. Following the completion of the sale, 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 ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Corporate 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.