JGP Wealth Management LLC lowered its position in Medtronic plc (NYSE:MDT - Free Report) by 14.1% during the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 70,597 shares of the medical technology company's stock after selling 11,604 shares during the period. JGP Wealth Management LLC's holdings in Medtronic were worth $5,639,000 at the end of the most recent quarter.
Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Fortitude Family Office LLC purchased a new position in Medtronic during the third quarter worth approximately $27,000. Highline Wealth Partners LLC acquired a new stake in shares of Medtronic in the 3rd quarter worth $27,000. Darwin Wealth Management LLC purchased a new position in shares of Medtronic during the 3rd quarter worth $27,000. J. Stern & Co. LLP acquired a new position in shares of Medtronic during the 3rd quarter valued at about $30,000. Finally, Kieckhefer Group LLC purchased a new stake in shares of Medtronic in the fourth quarter valued at about $40,000. Institutional investors and hedge funds own 82.06% of the company's stock.
Insider Transactions at Medtronic
In other news, EVP Brett A. Wall sold 9,850 shares of the firm's stock in a transaction that occurred on Wednesday, January 8th. The shares were sold at an average price of $80.41, for a total transaction of $792,038.50. Following the completion of the transaction, the executive vice president now directly owns 40,708 shares of the company's stock, valued at $3,273,330.28. This trade represents a 19.48 % decrease in their position. 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.
Wall Street Analyst Weigh In
A number of equities analysts have commented on MDT shares. Wells Fargo & Company reduced their target price on shares of Medtronic from $106.00 to $98.00 and set an "overweight" rating on the stock in a research note on Wednesday, November 20th. JPMorgan Chase & Co. reduced their price target on shares of Medtronic from $99.00 to $96.00 and set a "neutral" rating on the stock in a research note on Friday, November 15th. Needham & Company LLC restated a "hold" rating on shares of Medtronic in a report on Monday, November 18th. Barclays lifted their target price on Medtronic from $105.00 to $109.00 and gave the company an "overweight" rating in a report on Tuesday, November 26th. Finally, Robert W. Baird cut their price target on Medtronic from $96.00 to $93.00 and set a "neutral" rating on the stock in a report on Wednesday, November 20th. One research analyst has rated the stock with a sell rating, nine have assigned 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, the stock presently has an average rating of "Hold" and an average target price of $95.00.
Check Out Our Latest Analysis on Medtronic
Medtronic Stock Performance
Shares of MDT stock traded up $1.07 during mid-day trading on Friday, hitting $88.23. The stock had a trading volume of 9,577,939 shares, compared to its average volume of 8,494,167. The firm has a market cap of $113.13 billion, a PE ratio of 26.98, a PEG ratio of 2.28 and a beta of 0.83. The company's 50-day simple moving average is $83.63 and its 200-day simple moving average is $85.03. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.84 and a quick ratio of 1.39. Medtronic plc has a fifty-two week low of $75.96 and a fifty-two week high of $92.68.
Medtronic (NYSE:MDT - Get Free Report) last announced its quarterly earnings data on Tuesday, November 19th. The medical technology company reported $1.26 EPS for the quarter, beating analysts' consensus estimates of $1.25 by $0.01. Medtronic had a net margin of 13.00% and a return on equity of 13.79%. The firm had revenue of $8.40 billion during the quarter, compared to the consensus estimate of $8.27 billion. During the same quarter last year, the firm earned $1.25 earnings per share. The firm's revenue was up 5.2% compared to the same quarter last year. Sell-side analysts anticipate that Medtronic plc will post 5.45 earnings per share for the current year.
Medtronic Dividend Announcement
The firm also recently disclosed a quarterly dividend, which was paid on Friday, January 10th. Shareholders of record on Friday, December 27th were given a $0.70 dividend. This represents a $2.80 annualized dividend and a yield of 3.17%. The ex-dividend date was Friday, December 27th. Medtronic's payout ratio is 85.63%.
About Medtronic
(
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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