Sirios Capital Management L P Sells 42,857 Shares of Medtronic plc (NYSE:MDT)

Sirios Capital Management L P decreased its position in shares of Medtronic plc (NYSE:MDT - Free Report) by 43.2% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 56,457 shares of the medical technology company's stock after selling 42,857 shares during the quarter. Sirios Capital Management L P's holdings in Medtronic were worth $4,510,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Copley Financial Group Inc. bought a new stake in shares of Medtronic during the third quarter valued at approximately $694,000. Franklin Street Advisors Inc. NC boosted its holdings in Medtronic by 32.6% during the 4th quarter. Franklin Street Advisors Inc. NC now owns 73,517 shares of the medical technology company's stock worth $5,873,000 after acquiring an additional 18,057 shares during the last quarter. Olstein Capital Management L.P. grew its stake in shares of Medtronic by 8.0% in the 4th quarter. Olstein Capital Management L.P. now owns 94,000 shares of the medical technology company's stock worth $7,509,000 after acquiring an additional 7,000 shares in the last quarter. Czech National Bank raised its holdings in shares of Medtronic by 6.4% in the fourth quarter. Czech National Bank now owns 278,065 shares of the medical technology company's stock valued at $22,212,000 after purchasing an additional 16,786 shares during the last quarter. Finally, Empowered Funds LLC lifted its position in shares of Medtronic by 2.7% during the fourth quarter. Empowered Funds LLC now owns 105,822 shares of the medical technology company's stock valued at $8,453,000 after purchasing an additional 2,778 shares in the last quarter. Institutional investors and hedge funds own 82.06% of the company's stock.

Medtronic Trading Up 1.9 %

Shares of Medtronic stock opened at $83.39 on Wednesday. Medtronic plc has a fifty-two week low of $75.96 and a fifty-two week high of $96.25. The company has a debt-to-equity ratio of 0.48, a quick ratio of 1.39 and a current ratio of 1.90. The company has a market capitalization of $106.95 billion, a P/E ratio of 25.35, a P/E/G ratio of 2.22 and a beta of 0.79. The company has a fifty day moving average of $88.54 and a 200 day moving average of $87.34.

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

Medtronic Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, April 11th. Investors of record on Friday, March 28th were paid a dividend of $0.70 per share. The ex-dividend date of this dividend was Friday, March 28th. This represents a $2.80 annualized dividend and a yield of 3.36%. Medtronic's payout ratio is 85.11%.

Insider Buying and Selling at Medtronic

In other news, EVP Brett A. Wall sold 12,437 shares of Medtronic stock in a transaction dated 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 sale, 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 sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.20% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

MDT has been the subject of a number of recent analyst reports. Royal Bank of Canada restated an "outperform" rating and issued a $105.00 price objective on shares of Medtronic in a research note on Wednesday, February 19th. Citigroup raised Medtronic from a "neutral" rating to a "buy" rating and increased their price objective for the stock from $92.00 to $107.00 in a report on Tuesday, March 4th. Needham & Company LLC restated a "hold" rating on shares of Medtronic in a research report on Wednesday, February 19th. Robert W. Baird upped their price objective on shares of Medtronic from $90.00 to $91.00 and gave the stock a "neutral" rating in a research report on Wednesday, February 19th. Finally, UBS Group lifted their price target on Medtronic from $85.00 to $95.00 and gave the stock a "neutral" rating in a research note 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 given a strong buy rating to the company. According to MarketBeat, the company currently has a consensus rating of "Hold" and an average price target of $96.14.

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.

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