SevenBridge Financial Group LLC cut its position in shares of Medtronic plc (NYSE:MDT - Free Report) by 22.1% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 18,020 shares of the medical technology company's stock after selling 5,119 shares during the quarter. SevenBridge Financial Group LLC's holdings in Medtronic were worth $1,439,000 at the end of the most recent reporting period.
Other hedge funds have also bought and sold shares of the company. Mainstream Capital Management LLC bought a new position in shares of Medtronic in the 4th quarter worth about $26,000. Rakuten Securities Inc. increased its holdings in 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 in the last quarter. Stephens Consulting LLC lifted its stake in Medtronic by 145.7% in the fourth quarter. Stephens Consulting LLC now owns 344 shares of the medical technology company's stock valued at $27,000 after buying an additional 204 shares during the period. Fiduciary Advisors Inc. acquired a new position in Medtronic in the fourth quarter valued at approximately $36,000. Finally, Chelsea Counsel Co. acquired a new stake in shares of Medtronic during the 3rd quarter worth approximately $45,000. Institutional investors own 82.06% of the company's stock.
Medtronic Stock Up 0.5 %
Shares of NYSE MDT traded up $0.48 during 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 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 fifty day moving average of $91.04 and a two-hundred day moving average of $87.99. Medtronic plc has a 12 month low of $75.96 and a 12 month high of $96.25. The company has a market capitalization of $114.11 billion, a PE ratio of 27.04, a PEG ratio of 2.22 and a beta of 0.80.
Medtronic (NYSE:MDT - Get Free Report) last posted its quarterly earnings data on Tuesday, February 18th. The medical technology company reported $1.39 EPS for the quarter, beating the consensus estimate of $1.36 by $0.03. Medtronic had a net margin of 12.83% and a return on equity of 14.07%. The firm had revenue of $8.29 billion during the quarter, compared to analyst estimates of $8.33 billion. As a group, equities research analysts forecast that Medtronic plc will post 5.46 EPS for the current fiscal year.
Medtronic Announces Dividend
The firm also recently announced a quarterly dividend, which will be paid on Friday, April 11th. Stockholders of record on Friday, March 28th will be given 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 dividend payout ratio is presently 85.11%.
Wall Street Analyst Weigh In
MDT has been the topic of a number of research reports. Citigroup upgraded shares of Medtronic from a "neutral" rating to a "buy" rating and boosted their target price for the company from $92.00 to $107.00 in a research report on Tuesday, March 4th. Royal Bank of Canada reissued an "outperform" rating and set a $105.00 price objective on shares of Medtronic in a research report on Wednesday, February 19th. UBS Group boosted their target price on Medtronic from $85.00 to $95.00 and gave the company a "neutral" rating in a research report on Wednesday, February 19th. Needham & Company LLC reiterated a "hold" rating on shares of Medtronic in a report on Wednesday, February 19th. Finally, Robert W. Baird boosted their price objective on Medtronic from $90.00 to $91.00 and gave the company a "neutral" rating in a report on Wednesday, February 19th. One investment analyst has rated the stock with a sell rating, eight have assigned 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, the company has a consensus rating of "Hold" and an average price target of $96.07.
Read Our Latest Stock Report on MDT
Insider Transactions at Medtronic
In related news, EVP Brett A. Wall sold 12,437 shares of the stock in a transaction dated 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 completion of the transaction, the executive vice president now owns 40,979 shares in the company, valued at approximately $3,688,110. This represents a 23.28 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 0.20% of the company's stock.
About Medtronic
(
Free Report)
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.
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