Sicart Associates LLC trimmed its holdings in Medtronic plc (NYSE:MDT - Free Report) by 3.8% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 75,440 shares of the medical technology company's stock after selling 3,020 shares during the quarter. Medtronic makes up approximately 2.2% of Sicart Associates LLC's holdings, making the stock its 21st biggest position. Sicart Associates LLC's holdings in Medtronic were worth $6,079,000 as of its most recent SEC filing.
Other institutional investors also recently bought and sold shares of the company. Fortitude Family Office LLC bought a new position in Medtronic during the third quarter valued at approximately $27,000. Darwin Wealth Management LLC bought a new position in shares of Medtronic during the 3rd quarter valued at approximately $27,000. Highline Wealth Partners LLC purchased a new position in shares of Medtronic in the third quarter valued at $27,000. J. Stern & Co. LLP bought a new stake in Medtronic in the third quarter worth $30,000. Finally, Chelsea Counsel Co. bought a new stake in Medtronic in the third quarter worth $45,000. 82.06% of the stock is owned by hedge funds and other institutional investors.
Wall Street Analysts Forecast Growth
A number of equities analysts have commented on the stock. Robert W. Baird dropped their price objective on shares of Medtronic from $96.00 to $93.00 and set a "neutral" rating for the company in a research note on Wednesday, November 20th. JPMorgan Chase & Co. reduced their price objective on 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 research report on Monday, November 18th. Royal Bank of Canada upgraded Medtronic from a "sector perform" rating to an "outperform" rating and lifted their target price for the stock from $98.00 to $105.00 in a report on Thursday, October 10th. Finally, Citigroup increased their price target on Medtronic from $85.00 to $92.00 and gave the company a "neutral" rating in a report on Tuesday, October 1st. One equities 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 stock. According to data from MarketBeat, the stock presently has a consensus rating of "Hold" and an average price target of $95.00.
Read Our Latest Analysis on MDT
Insider Activity
In related 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 completion of the sale, the executive vice president now directly owns 40,708 shares in the company, valued at $3,273,330.28. This represents a 19.48 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. Insiders own 0.20% of the company's stock.
Medtronic Trading Up 1.2 %
Shares of NYSE MDT traded up $1.07 during trading hours on Friday, reaching $88.23. The stock had a trading volume of 9,577,939 shares, compared to its average volume of 8,494,167. The business's fifty day moving average price is $83.63 and its two-hundred day moving average price is $85.03. The firm has a market cap of $113.13 billion, a price-to-earnings ratio of 26.98, a P/E/G ratio of 2.28 and a beta of 0.83. Medtronic plc has a 52-week low of $75.96 and a 52-week high of $92.68. The company has a current ratio of 1.84, a quick ratio of 1.39 and a debt-to-equity ratio of 0.51.
Medtronic (NYSE:MDT - Get Free Report) last posted its quarterly earnings results on Tuesday, November 19th. The medical technology company reported $1.26 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.25 by $0.01. The business had revenue of $8.40 billion for the quarter, compared to the consensus estimate of $8.27 billion. Medtronic had a return on equity of 13.79% and a net margin of 13.00%. The business's revenue was up 5.2% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.25 EPS. Analysts expect that Medtronic plc will post 5.45 EPS for the current fiscal year.
Medtronic Dividend Announcement
The firm also recently disclosed a quarterly dividend, which was paid on Friday, January 10th. Stockholders of record on Friday, December 27th were paid a dividend of $0.70 per share. The ex-dividend date was Friday, December 27th. This represents a $2.80 dividend on an annualized basis and a dividend yield of 3.17%. Medtronic's dividend payout ratio is presently 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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