Nemes Rush Group LLC Has $574,000 Stake in Medtronic plc (NYSE:MDT)

Nemes Rush Group LLC lessened its holdings in shares of Medtronic plc (NYSE:MDT - Free Report) by 41.9% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 7,188 shares of the medical technology company's stock after selling 5,190 shares during the quarter. Nemes Rush Group LLC's holdings in Medtronic were worth $574,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also modified their holdings of the company. Mainstream Capital Management LLC bought a new stake in shares of Medtronic during the 4th quarter worth about $26,000. Stephens Consulting LLC lifted its holdings in Medtronic by 145.7% in the 4th quarter. Stephens Consulting LLC now owns 344 shares of the medical technology company's stock worth $27,000 after purchasing an additional 204 shares during the last quarter. Rakuten Securities Inc. boosted its position in Medtronic by 753.8% during 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. Fiduciary Advisors Inc. acquired a new position in Medtronic during the fourth quarter valued at approximately $36,000. Finally, Kieckhefer Group LLC bought a new position in shares of Medtronic in the fourth quarter valued at approximately $40,000. Institutional investors and hedge funds own 82.06% of the company's stock.

Insider Transactions at Medtronic

In other Medtronic news, EVP Brett A. Wall sold 9,850 shares of Medtronic stock in a transaction dated Wednesday, January 8th. The stock was sold at an average price of $80.41, for a total transaction of $792,038.50. Following the transaction, the executive vice president now directly owns 40,708 shares of the company's stock, valued at approximately $3,273,330.28. The trade was a 19.48 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 0.20% of the stock is owned by company insiders.

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Medtronic Price Performance

Shares of NYSE:MDT traded up $0.48 during midday trading on Wednesday, hitting $88.97. The stock had a trading volume of 5,550,638 shares, compared to its average volume of 6,575,485. The company's 50-day moving average price is $91.04 and its 200-day moving average price is $87.99. Medtronic plc has a fifty-two week low of $75.96 and a fifty-two week high of $96.25. The company has a quick ratio of 1.39, a current ratio of 1.90 and a debt-to-equity ratio of 0.48. The company has a market capitalization of $114.11 billion, a P/E ratio of 27.04, a price-to-earnings-growth ratio of 2.22 and a beta of 0.80.

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

Medtronic Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, April 11th. Stockholders of record on Friday, March 28th will be paid a dividend of $0.70 per share. This represents a $2.80 annualized dividend and a dividend yield of 3.15%. The ex-dividend date of this dividend is Friday, March 28th. Medtronic's payout ratio is currently 85.11%.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on the stock. Needham & Company LLC restated a "hold" rating on shares of Medtronic in a research note on Wednesday, February 19th. Robert W. Baird lifted their price objective on Medtronic from $90.00 to $91.00 and gave the stock a "neutral" rating in a report on Wednesday, February 19th. UBS Group upped their target price on Medtronic from $85.00 to $95.00 and gave the company a "neutral" rating in a research note on Wednesday, February 19th. Royal Bank of Canada reiterated an "outperform" rating and set a $105.00 price target on shares of Medtronic in a research note on Wednesday, February 19th. Finally, Citigroup upgraded shares of Medtronic from a "neutral" rating to a "buy" rating and increased their price objective for the company from $92.00 to $107.00 in a research note on Tuesday, March 4th. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat, Medtronic presently has an average rating of "Hold" and an average price target of $96.07.

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.