Romano Brothers AND Company Sells 3,070 Shares of Medtronic plc (NYSE:MDT)

Romano Brothers AND Company lowered its stake in shares of Medtronic plc (NYSE:MDT - Free Report) by 7.8% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 36,473 shares of the medical technology company's stock after selling 3,070 shares during the quarter. Romano Brothers AND Company's holdings in Medtronic were worth $2,913,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. Edgestream Partners L.P. purchased a new stake in Medtronic in the second quarter valued at approximately $239,000. Ieq Capital LLC boosted its position in Medtronic by 18.8% during the second quarter. Ieq Capital LLC now owns 64,510 shares of the medical technology company's stock worth $5,078,000 after acquiring an additional 10,187 shares during the last quarter. Canada Pension Plan Investment Board increased its stake in shares of Medtronic by 1.0% in the 2nd quarter. Canada Pension Plan Investment Board now owns 1,524,196 shares of the medical technology company's stock worth $119,969,000 after acquiring an additional 15,085 shares during the last quarter. Bridges Investment Management Inc. purchased a new position in Medtronic in the second quarter worth approximately $2,904,000. Finally, AE Wealth Management LLC boosted its stake in Medtronic by 24.7% during the second quarter. AE Wealth Management LLC now owns 9,578 shares of the medical technology company's stock worth $754,000 after buying an additional 1,896 shares during the period. Institutional investors own 82.06% of the company's stock.

Medtronic Trading Up 1.2 %

MDT stock traded up $1.07 during midday trading on Friday, hitting $88.23. The stock had a trading volume of 9,577,939 shares, compared to its average volume of 5,401,241. The firm has a market cap of $113.13 billion, a P/E ratio of 26.98, a price-to-earnings-growth ratio of 2.28 and a beta of 0.83. The business has a fifty day moving average price of $83.64 and a two-hundred day moving average price of $85.16. 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 plc has a 1-year low of $75.96 and a 1-year high of $92.68.

Medtronic (NYSE:MDT - Get Free Report) last announced its earnings results on Tuesday, November 19th. The medical technology company reported $1.26 earnings per share for the quarter, topping analysts' consensus estimates of $1.25 by $0.01. The firm 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 company's revenue was up 5.2% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.25 EPS. On average, sell-side analysts predict that Medtronic plc will post 5.45 earnings per share for the current fiscal year.

Medtronic Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, January 10th. Investors 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 annualized dividend and a yield of 3.17%. Medtronic's dividend payout ratio is currently 85.63%.

Insider Buying and Selling

In other news, EVP Brett A. Wall sold 9,850 shares of Medtronic stock in a transaction dated Wednesday, January 8th. The shares were sold at an average price of $80.41, for a total transaction of $792,038.50. Following the sale, the executive vice president now 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 document filed with the SEC, which is accessible through this hyperlink. 0.20% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on MDT shares. Royal Bank of Canada upgraded Medtronic from a "sector perform" rating to an "outperform" rating and upped their price target for the stock from $98.00 to $105.00 in a report on Thursday, October 10th. JPMorgan Chase & Co. dropped their target price on Medtronic from $99.00 to $96.00 and set a "neutral" rating on the stock in a report on Friday, November 15th. Barclays raised their price target on Medtronic from $105.00 to $109.00 and gave the company an "overweight" rating in a report on Tuesday, November 26th. Robert W. Baird decreased their target price on shares of Medtronic from $96.00 to $93.00 and set a "neutral" rating on the stock in a research report on Wednesday, November 20th. Finally, Needham & Company LLC reaffirmed a "hold" rating on shares of Medtronic in a research report on Monday, November 18th. One analyst has rated the stock with a sell rating, nine have issued a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus target price of $95.00.

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.