Moran Wealth Management LLC Sells 87,564 Shares of Medtronic plc (NYSE:MDT)

Moran Wealth Management LLC lowered its position in shares of Medtronic plc (NYSE:MDT - Free Report) by 39.5% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 134,125 shares of the medical technology company's stock after selling 87,564 shares during the period. Moran Wealth Management LLC's holdings in Medtronic were worth $10,714,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of MDT. Mainstream Capital Management LLC acquired a new position in shares of Medtronic in the fourth quarter valued at approximately $26,000. Darwin Wealth Management LLC bought a new stake in Medtronic during the 3rd quarter worth approximately $27,000. Stephens Consulting LLC increased its position in Medtronic by 145.7% in the 4th quarter. Stephens Consulting LLC now owns 344 shares of the medical technology company's stock valued at $27,000 after acquiring an additional 204 shares during the period. J. Stern & Co. LLP bought a new position in shares of Medtronic during the third quarter valued at $30,000. Finally, Fiduciary Advisors Inc. acquired a new position in shares of Medtronic during the fourth quarter worth $36,000. Institutional investors and hedge funds own 82.06% of the company's stock.

Analysts Set New Price Targets

A number of research firms recently weighed in on MDT. Wells Fargo & Company decreased their price objective on Medtronic from $106.00 to $98.00 and set an "overweight" rating for the company in a report on Wednesday, November 20th. Robert W. Baird raised their price objective on Medtronic from $90.00 to $91.00 and gave the stock a "neutral" rating in a research report on Wednesday, February 19th. Royal Bank of Canada reiterated an "outperform" rating and issued a $105.00 target price on shares of Medtronic in a report on Wednesday, February 19th. Needham & Company LLC restated a "hold" rating on shares of Medtronic in a report on Wednesday, February 19th. Finally, Sanford C. Bernstein boosted their price target on shares of Medtronic from $96.00 to $97.00 and gave the stock an "outperform" rating in a research report on Wednesday, November 20th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has an average rating of "Hold" and a consensus price target of $96.07.

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Insiders Place Their Bets

In other news, EVP Brett A. Wall sold 12,437 shares of the company'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 value of $1,119,330.00. Following the completion of the transaction, the executive vice president now directly owns 40,979 shares of the company's stock, valued at $3,688,110. This represents a 23.28 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Insiders own 0.20% of the company's stock.

Medtronic Stock Down 2.2 %

Shares of NYSE:MDT traded down $2.05 during trading on Wednesday, reaching $91.23. 2,080,828 shares of the stock were exchanged, compared to its average volume of 7,350,751. Medtronic plc has a 1-year low of $75.96 and a 1-year high of $96.25. The stock has a fifty day moving average of $88.89 and a two-hundred day moving average of $87.88. The company has a debt-to-equity ratio of 0.48, a current ratio of 1.90 and a quick ratio of 1.39. The firm has a market cap of $117.01 billion, a price-to-earnings ratio of 27.73, a price-to-earnings-growth ratio of 2.22 and a beta of 0.80.

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

Medtronic Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, April 11th. Investors of record on Friday, March 28th will be given a $0.70 dividend. This represents a $2.80 dividend on an annualized basis and a yield of 3.07%. The ex-dividend date of this dividend is Friday, March 28th. Medtronic's payout ratio is currently 85.11%.

Medtronic 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.