Medtronic plc (NYSE:MDT) Stock Position Reduced by Notis McConarty Edward

Notis McConarty Edward reduced its position in Medtronic plc (NYSE:MDT - Free Report) by 42.3% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 12,307 shares of the medical technology company's stock after selling 9,038 shares during the quarter. Notis McConarty Edward's holdings in Medtronic were worth $983,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Mainstream Capital Management LLC purchased a new stake in shares of Medtronic during the fourth quarter worth approximately $26,000. Rakuten Securities Inc. increased its position in shares of Medtronic by 753.8% in the 4th quarter. Rakuten Securities Inc. now owns 333 shares of the medical technology company's stock valued at $27,000 after purchasing an additional 294 shares during the last quarter. Stephens Consulting LLC raised its holdings in shares of 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 purchasing an additional 204 shares in the last quarter. Fiduciary Advisors Inc. purchased a new stake in shares of Medtronic during the 4th quarter worth $36,000. Finally, Chelsea Counsel Co. acquired a new position in shares of Medtronic during the third quarter worth $45,000. 82.06% of the stock is currently owned by hedge funds and other institutional investors.

Medtronic Trading Up 0.6 %

MDT stock traded up $0.49 on Tuesday, hitting $83.64. 2,713,855 shares of the company were exchanged, compared to its average volume of 6,617,047. 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 stock has a market capitalization of $107.27 billion, a price-to-earnings ratio of 25.46, a price-to-earnings-growth ratio of 2.22 and a beta of 0.79. Medtronic plc has a twelve month low of $75.96 and a twelve month high of $96.25. The business's fifty day moving average is $90.68 and its two-hundred day moving average is $87.89.

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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 analysts' expectations of $8.33 billion. Medtronic had a return on equity of 14.07% and a net margin of 12.83%. As a group, research analysts forecast that Medtronic plc will post 5.46 earnings per share for the current year.

Medtronic Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, April 11th. Stockholders of record on Friday, March 28th will be paid a $0.70 dividend. The ex-dividend date of this dividend is Friday, March 28th. This represents a $2.80 dividend on an annualized basis and a dividend yield of 3.35%. Medtronic's dividend payout ratio (DPR) is currently 85.11%.

Insider Buying and Selling

In other news, EVP Brett A. Wall sold 12,437 shares of the business's stock in a transaction on Friday, January 24th. The shares were sold at an average price of $90.00, for a total transaction of $1,119,330.00. Following the transaction, the executive vice president now directly owns 40,979 shares of the company's stock, valued at approximately $3,688,110. The trade was a 23.28 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.20% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

MDT has been the subject of several analyst reports. Needham & Company LLC reaffirmed a "hold" rating on shares of Medtronic in a research report on Wednesday, February 19th. Royal Bank of Canada reaffirmed an "outperform" rating and issued a $105.00 price target on shares of Medtronic in a report on Wednesday, February 19th. UBS Group raised their price objective on shares of Medtronic from $85.00 to $95.00 and gave the stock a "neutral" rating in a report on Wednesday, February 19th. Robert W. Baird upped their target price on shares of Medtronic from $90.00 to $91.00 and gave the company a "neutral" rating in a report on Wednesday, February 19th. Finally, Citigroup upgraded shares of Medtronic from a "neutral" rating to a "buy" rating and lifted their price target for the stock 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 given a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company has a consensus rating of "Hold" and a consensus price target of $96.07.

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.