InTrack Investment Management Inc Reduces Holdings in Medtronic plc (NYSE:MDT)

InTrack Investment Management Inc decreased its position in shares of Medtronic plc (NYSE:MDT - Free Report) by 45.0% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 3,778 shares of the medical technology company's stock after selling 3,097 shares during the quarter. InTrack Investment Management Inc's holdings in Medtronic were worth $322,000 at the end of the most recent quarter.

A number of other institutional investors have also added to or reduced their stakes in the stock. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in shares of Medtronic by 436.7% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 7,343,385 shares of the medical technology company's stock valued at $661,125,000 after purchasing an additional 5,975,110 shares during the last quarter. Bank of Montreal Can increased its position in shares of Medtronic by 65.0% during the 3rd quarter. Bank of Montreal Can now owns 4,546,819 shares of the medical technology company's stock valued at $406,122,000 after purchasing an additional 1,790,483 shares during the last quarter. Healthcare of Ontario Pension Plan Trust Fund increased its position in shares of Medtronic by 1,195.9% during the 2nd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 1,837,600 shares of the medical technology company's stock valued at $144,637,000 after purchasing an additional 1,695,800 shares during the last quarter. Janus Henderson Group PLC increased its position in shares of Medtronic by 58.4% during the 3rd quarter. Janus Henderson Group PLC now owns 3,850,914 shares of the medical technology company's stock valued at $346,705,000 after purchasing an additional 1,420,263 shares during the last quarter. Finally, International Assets Investment Management LLC increased its position in shares of Medtronic by 8,908.6% during the 3rd quarter. International Assets Investment Management LLC now owns 1,298,415 shares of the medical technology company's stock valued at $116,896,000 after purchasing an additional 1,284,002 shares during the last quarter. Hedge funds and other institutional investors own 82.06% of the company's stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on the company. Evercore ISI increased their price objective on Medtronic from $100.00 to $104.00 and gave the company an "outperform" rating in a research report on Tuesday, October 1st. Robert W. Baird reduced their price target on Medtronic from $96.00 to $93.00 and set a "neutral" rating on the stock in a research report on Wednesday, November 20th. Wells Fargo & Company reduced their price target on Medtronic from $106.00 to $98.00 and set an "overweight" rating on the stock in a research report on Wednesday, November 20th. Needham & Company LLC restated a "hold" rating on shares of Medtronic in a research report on Monday, November 18th. Finally, Citigroup raised their price target on Medtronic from $85.00 to $92.00 and gave the stock a "neutral" rating in a research report on Tuesday, October 1st. One investment analyst has rated the stock with a sell rating, nine have given a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of "Hold" and an average target price of $95.00.

Medtronic Price Performance

Shares of Medtronic stock traded up $1.07 on Friday, hitting $88.23. The company's stock had a trading volume of 9,577,939 shares, compared to its average volume of 5,401,241. 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 plc has a 1 year low of $75.96 and a 1 year high of $92.68. The firm has a fifty day moving average price of $83.63 and a 200-day moving average price of $85.03. The company has a market capitalization of $113.13 billion, a price-to-earnings ratio of 26.98, a price-to-earnings-growth ratio of 2.28 and a beta of 0.83.

Medtronic (NYSE:MDT - Get Free Report) last announced its quarterly earnings results on Tuesday, November 19th. The medical technology company reported $1.26 earnings per share for the quarter, beating the consensus estimate of $1.25 by $0.01. Medtronic had a return on equity of 13.79% and a net margin of 13.00%. The firm had revenue of $8.40 billion during the quarter, compared to analyst estimates of $8.27 billion. During the same quarter in the previous year, the business earned $1.25 EPS. Medtronic's revenue for the quarter was up 5.2% compared to the same quarter last year. As a group, sell-side analysts anticipate that Medtronic plc will post 5.45 earnings per share for the current fiscal year.

Medtronic Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, January 10th. Shareholders of record on Friday, December 27th were paid a dividend of $0.70 per share. This represents a $2.80 dividend on an annualized basis and a yield of 3.17%. The ex-dividend date of this dividend was Friday, December 27th. Medtronic's dividend payout ratio (DPR) is 85.63%.

Insiders Place Their Bets

In other news, EVP Brett A. Wall sold 9,850 shares of the company's stock in a transaction on Wednesday, January 8th. The stock was sold at an average price of $80.41, for a total transaction of $792,038.50. Following the sale, the executive vice president now owns 40,708 shares of the company's stock, valued at approximately $3,273,330.28. This represents a 19.48 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.20% of the stock is owned by insiders.

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.