Medtronic plc (NYSE:MDT) Shares Sold by LaFleur & Godfrey LLC

LaFleur & Godfrey LLC trimmed its position in Medtronic plc (NYSE:MDT - Free Report) by 24.3% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 39,923 shares of the medical technology company's stock after selling 12,796 shares during the quarter. LaFleur & Godfrey LLC's holdings in Medtronic were worth $3,189,000 at the end of the most recent reporting period.

Several other hedge funds have also recently made changes to their positions in MDT. Clear Harbor Asset Management LLC lifted its holdings in shares of Medtronic by 1.2% in the 3rd quarter. Clear Harbor Asset Management LLC now owns 9,558 shares of the medical technology company's stock valued at $861,000 after buying an additional 111 shares during the period. Guardian Wealth Management Inc. raised its holdings in shares of Medtronic by 0.9% in the 3rd quarter. Guardian Wealth Management Inc. now owns 13,131 shares of the medical technology company's stock valued at $1,182,000 after buying an additional 115 shares during the period. First PREMIER Bank grew its stake in shares of Medtronic by 1.8% in the third quarter. First PREMIER Bank now owns 6,417 shares of the medical technology company's stock worth $577,000 after acquiring an additional 116 shares in the last quarter. First City Capital Management Inc. raised its holdings in Medtronic by 2.9% in the third quarter. First City Capital Management Inc. now owns 4,123 shares of the medical technology company's stock valued at $371,000 after acquiring an additional 116 shares in the last quarter. Finally, Hardy Reed LLC raised its position in shares of Medtronic by 4.4% during the 3rd quarter. Hardy Reed LLC now owns 2,743 shares of the medical technology company's stock worth $247,000 after acquiring an additional 116 shares in the last quarter. 82.06% of the stock is currently owned by hedge funds and other institutional investors.

Medtronic Stock Performance

MDT stock traded up $1.07 during trading on Monday, reaching $88.23. The stock had a trading volume of 9,577,939 shares, compared to its average volume of 5,401,241. Medtronic plc has a 52 week low of $75.96 and a 52 week high of $92.68. The stock's 50 day moving average is $83.64 and its two-hundred day moving average is $85.21. The company has a current ratio of 1.84, a quick ratio of 1.39 and a debt-to-equity ratio of 0.51. 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.

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

Medtronic Dividend Announcement

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

Insider Activity

In other Medtronic news, EVP Brett A. Wall sold 9,850 shares of the company's stock in a transaction on Wednesday, January 8th. The shares were sold at an average price of $80.41, for a total value of $792,038.50. Following the completion of the transaction, the executive vice president now owns 40,708 shares in the company, valued at $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 SEC, which is available at this hyperlink. Company insiders own 0.20% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on the company. Wells Fargo & Company lowered their target price on Medtronic from $106.00 to $98.00 and set an "overweight" rating on the stock in a report on Wednesday, November 20th. JPMorgan Chase & Co. cut their target price on Medtronic from $99.00 to $96.00 and set a "neutral" rating on the stock in a research report on Friday, November 15th. Citigroup boosted their price objective on shares of Medtronic from $85.00 to $92.00 and gave the company a "neutral" rating in a research report on Tuesday, October 1st. Sanford C. Bernstein increased their price objective on shares of Medtronic from $96.00 to $97.00 and gave the company an "outperform" rating in a report on Wednesday, November 20th. Finally, Needham & Company LLC reissued a "hold" rating on shares of Medtronic in a research report on Monday, November 18th. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, Medtronic currently has a consensus rating of "Hold" and an average price target of $95.00.

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.