Dempze Nancy E Sells 4,227 Shares of Medtronic plc (NYSE:MDT)

Dempze Nancy E cut its position in Medtronic plc (NYSE:MDT - Free Report) by 59.2% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 2,916 shares of the medical technology company's stock after selling 4,227 shares during the quarter. Dempze Nancy E's holdings in Medtronic were worth $233,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Norges Bank acquired a new stake in Medtronic during the 4th quarter worth approximately $1,163,580,000. Raymond James Financial Inc. bought a new stake in Medtronic in the fourth quarter valued at approximately $852,732,000. Beutel Goodman & Co Ltd. bought a new position in Medtronic during the 4th quarter worth approximately $377,169,000. Van ECK Associates Corp boosted its stake in shares of Medtronic by 2,043.4% in the 4th quarter. Van ECK Associates Corp now owns 2,598,150 shares of the medical technology company's stock valued at $207,540,000 after purchasing an additional 2,476,935 shares during the last quarter. Finally, Boston Partners increased its position in shares of Medtronic by 117.4% during the fourth quarter. Boston Partners now owns 3,102,605 shares of the medical technology company's stock worth $248,311,000 after buying an additional 1,675,588 shares during the period. Institutional investors and hedge funds own 82.06% of the company's stock.

Insider Buying and Selling

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

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Analysts Set New Price Targets

A number of analysts have commented on MDT shares. UBS Group upped 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. Royal Bank of Canada reaffirmed an "outperform" rating and issued a $105.00 target price on shares of Medtronic in a research report on Wednesday, February 19th. Citigroup raised Medtronic from a "neutral" rating to a "buy" rating and raised their price objective for the company from $92.00 to $107.00 in a research note on Tuesday, March 4th. Needham & Company LLC reiterated a "hold" rating on shares of Medtronic in a research note on Wednesday, February 19th. Finally, Robert W. Baird upped their target price on Medtronic from $90.00 to $91.00 and gave the company a "neutral" rating in a report on Wednesday, February 19th. One research analyst has rated the stock with a sell rating, eight have issued a hold rating, six have issued a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has an average rating of "Hold" and an average target price of $96.07.

Medtronic Stock Down 2.4 %

Shares of NYSE MDT traded down $1.99 during mid-day trading on Wednesday, hitting $79.89. 2,065,577 shares of the stock traded hands, compared to its average volume of 6,620,656. The company has a market cap of $102.46 billion, a price-to-earnings ratio of 24.21, a PEG ratio of 2.22 and a beta of 0.79. The stock has a fifty day moving average price of $90.28 and a 200-day moving average price of $87.79. Medtronic plc has a 52 week low of $75.96 and a 52 week high of $96.25. The company has a debt-to-equity ratio of 0.48, a quick ratio of 1.39 and a current ratio of 1.90.

Medtronic (NYSE:MDT - Get Free Report) last released its earnings results on Tuesday, February 18th. The medical technology company reported $1.39 earnings per share for the quarter, topping analysts' consensus estimates of $1.36 by $0.03. Medtronic had a net margin of 12.83% and a return on equity of 14.07%. The firm had revenue of $8.29 billion for the quarter, compared to the consensus estimate of $8.33 billion. Research analysts anticipate that Medtronic plc will post 5.46 EPS for the current year.

Medtronic Announces Dividend

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 given a $0.70 dividend. The ex-dividend date is Friday, March 28th. This represents a $2.80 dividend on an annualized basis and a dividend yield of 3.50%. Medtronic's dividend payout ratio is currently 85.11%.

Medtronic 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.