Advisory Services Network LLC Sells 3,690 Shares of Medtronic plc (NYSE:MDT)

Advisory Services Network LLC cut its holdings in Medtronic plc (NYSE:MDT - Free Report) by 4.8% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 72,954 shares of the medical technology company's stock after selling 3,690 shares during the period. Advisory Services Network LLC's holdings in Medtronic were worth $5,828,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. Mainstream Capital Management LLC purchased a new stake in Medtronic in the 4th quarter worth approximately $26,000. Rakuten Securities Inc. boosted its position in shares of Medtronic by 753.8% in the fourth quarter. Rakuten Securities Inc. now owns 333 shares of the medical technology company's stock worth $27,000 after purchasing an additional 294 shares during the period. Stephens Consulting LLC increased its stake in shares of Medtronic by 145.7% in the fourth quarter. Stephens Consulting LLC now owns 344 shares of the medical technology company's stock worth $27,000 after purchasing an additional 204 shares in the last quarter. Fiduciary Advisors Inc. bought a new stake in shares of Medtronic during the 4th quarter valued at $36,000. Finally, Chelsea Counsel Co. bought a new stake in shares of Medtronic during the 3rd quarter valued at $45,000. Hedge funds and other institutional investors own 82.06% of the company's stock.

Insider Activity at Medtronic

In other Medtronic news, EVP Brett A. Wall sold 12,437 shares of the business's stock in a transaction that occurred on Friday, January 24th. The stock was sold at an average price of $90.00, for a total transaction of $1,119,330.00. Following the completion of the transaction, the executive vice president now owns 40,979 shares in the company, valued at $3,688,110. The trade was a 23.28 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 0.20% of the stock is currently owned by insiders.

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Medtronic Trading Up 0.2 %

NYSE MDT traded up $0.15 during trading hours on Friday, hitting $82.69. 8,011,993 shares of the company were exchanged, compared to its average volume of 6,683,754. The stock has a market cap of $106.05 billion, a PE ratio of 25.13, a price-to-earnings-growth ratio of 2.22 and a beta of 0.79. Medtronic plc has a 52 week low of $75.96 and a 52 week high of $96.25. The stock has a 50-day moving average price of $89.71 and a 200 day moving average price of $87.63. The company has a quick ratio of 1.39, a current ratio of 1.90 and a debt-to-equity ratio of 0.48.

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

Medtronic Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, April 11th. Investors of record on Friday, March 28th were issued a dividend of $0.70 per share. The ex-dividend date of this dividend was Friday, March 28th. This represents a $2.80 annualized dividend and a yield of 3.39%. Medtronic's payout ratio is 85.11%.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on MDT shares. Robert W. Baird increased their price target on Medtronic from $90.00 to $91.00 and gave the stock a "neutral" rating in a research note on Wednesday, February 19th. Citigroup upgraded Medtronic from a "neutral" rating to a "buy" rating and increased their target price for the stock from $92.00 to $107.00 in a research report on Tuesday, March 4th. UBS Group boosted their price target on Medtronic from $85.00 to $95.00 and gave the stock a "neutral" rating in a report on Wednesday, February 19th. Needham & Company LLC reaffirmed a "hold" rating on shares of Medtronic in a report on Wednesday, February 19th. Finally, Truist Financial reduced their price objective on shares of Medtronic from $93.00 to $90.00 and set a "hold" rating on the stock in a research report on Friday. One investment analyst has rated the stock with a sell rating, eight have given a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, Medtronic currently has a consensus rating of "Hold" and a consensus target price of $96.14.

Medtronic Company 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.