Blake Schutter Theil Wealth Advisors LLC trimmed its holdings in Medtronic plc (NYSE:MDT - Free Report) by 37.0% in the 4th quarter, according to its most recent disclosure with the SEC. The firm owned 4,898 shares of the medical technology company's stock after selling 2,878 shares during the period. Blake Schutter Theil Wealth Advisors LLC's holdings in Medtronic were worth $391,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also recently modified their holdings of the company. Darwin Wealth Management LLC purchased a new stake in Medtronic in the third quarter valued at approximately $27,000. Mainstream Capital Management LLC purchased a new position in shares of Medtronic in the 4th quarter valued at about $26,000. J. Stern & Co. LLP acquired a new position in shares of Medtronic during the third quarter worth about $30,000. Stephens Consulting LLC increased its stake 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 buying an additional 204 shares during the period. Finally, Fiduciary Advisors Inc. purchased a new position in Medtronic in the fourth quarter worth approximately $36,000. 82.06% of the stock is owned by institutional investors and hedge funds.
Insider Buying and Selling at Medtronic
In related 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 value of $1,119,330.00. Following the transaction, the executive vice president now owns 40,979 shares in the company, valued at approximately $3,688,110. This trade represents a 23.28 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. 0.20% of the stock is owned by company insiders.
Medtronic Price Performance
MDT stock traded down $0.36 on Tuesday, reaching $93.44. The company had a trading volume of 7,300,420 shares, compared to its average volume of 6,054,050. 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 company's fifty day moving average is $88.89 and its 200 day moving average is $87.88. The company has a market cap of $119.85 billion, a P/E ratio of 28.40, a PEG ratio of 2.22 and a beta of 0.80. Medtronic plc has a 1 year low of $75.96 and a 1 year high of $96.25.
Medtronic (NYSE:MDT - Get Free Report) last announced its quarterly earnings data on Tuesday, February 18th. The medical technology company reported $1.39 earnings per share (EPS) for the quarter, beating 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 business had revenue of $8.29 billion for the quarter, compared to the consensus estimate of $8.33 billion. On average, research analysts forecast that Medtronic plc will post 5.46 earnings per share for the current year.
Medtronic Announces Dividend
The company also recently announced a quarterly dividend, which will be paid on Friday, April 11th. Investors of record on Friday, March 28th will be issued a $0.70 dividend. This represents a $2.80 dividend on an annualized basis and a yield of 3.00%. The ex-dividend date of this dividend is Friday, March 28th. Medtronic's payout ratio is currently 85.11%.
Wall Street Analyst Weigh In
Several research firms have recently issued reports on MDT. Citigroup raised shares of Medtronic from a "neutral" rating to a "buy" rating and lifted their price objective for the stock from $92.00 to $107.00 in a research report on Tuesday, March 4th. Wells Fargo & Company decreased their price target on Medtronic from $106.00 to $98.00 and set an "overweight" rating for the company in a report on Wednesday, November 20th. Needham & Company LLC reissued a "hold" rating on shares of Medtronic in a research report on Wednesday, February 19th. Royal Bank of Canada restated an "outperform" rating and issued a $105.00 price objective on shares of Medtronic in a research note on Wednesday, February 19th. Finally, Robert W. Baird raised their target price on shares of Medtronic from $90.00 to $91.00 and gave the stock a "neutral" rating 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's stock. According to MarketBeat, the company currently has an average rating of "Hold" and an average target price of $96.07.
View Our Latest Report on Medtronic
Medtronic Company Profile
(
Free Report)
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.
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