Transcend Capital Advisors LLC Has $4.95 Million Stock Holdings in Medtronic plc (NYSE:MDT)

Transcend Capital Advisors LLC trimmed its position in shares of Medtronic plc (NYSE:MDT - Free Report) by 13.5% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 61,911 shares of the medical technology company's stock after selling 9,644 shares during the period. Transcend Capital Advisors LLC's holdings in Medtronic were worth $4,945,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of the company. Fortitude Family Office LLC acquired a new stake in shares of Medtronic during the 3rd quarter worth approximately $27,000. Darwin Wealth Management LLC bought a new stake in Medtronic during the third quarter worth $27,000. Highline Wealth Partners LLC acquired a new stake in shares of Medtronic in the 3rd quarter valued at $27,000. J. Stern & Co. LLP bought a new position in shares of Medtronic in the 3rd quarter valued at $30,000. Finally, Stephens Consulting LLC raised its holdings in shares of Medtronic by 145.7% during the 4th quarter. Stephens Consulting LLC now owns 344 shares of the medical technology company's stock worth $27,000 after buying an additional 204 shares in the last quarter. 82.06% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several analysts recently weighed in on the company. UBS Group raised their price objective on Medtronic from $85.00 to $95.00 and gave the company a "neutral" rating in a research note on Wednesday. Royal Bank of Canada restated an "outperform" rating and issued a $105.00 price target on shares of Medtronic in a research note on Wednesday. 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. Needham & Company LLC reissued a "hold" rating on shares of Medtronic in a research note on Wednesday. Finally, Barclays upped their price target on shares of Medtronic from $105.00 to $109.00 and gave the stock an "overweight" rating in a report on Tuesday, November 26th. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of "Hold" and an average target price of $95.20.

Insider Transactions at Medtronic

In related news, EVP Brett A. Wall sold 12,437 shares of the firm's stock in a transaction that occurred on Friday, January 24th. The stock was sold at an average price of $90.00, for a total transaction of $1,119,330.00. Following the completion of the sale, the executive vice president now owns 40,979 shares of the company's stock, valued at $3,688,110. This trade represents 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 the SEC website. Corporate insiders own 0.20% of the company's stock.

Medtronic Trading Up 2.3 %

Shares of MDT traded up $2.01 during mid-day trading on Friday, reaching $89.95. 11,762,886 shares of the company were exchanged, compared to its average volume of 7,605,718. The business has a 50 day simple moving average of $85.93 and a two-hundred day simple moving average of $87.03. 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 stock has a market capitalization of $115.34 billion, a PE ratio of 27.34, a PEG ratio of 2.46 and a beta of 0.84. Medtronic plc has a 52 week low of $75.96 and a 52 week high of $93.08.

Medtronic (NYSE:MDT - Get Free Report) last issued its quarterly earnings results on Tuesday, February 18th. The medical technology company reported $1.39 earnings per share (EPS) for the quarter, topping analysts' consensus estimates 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 for the quarter, compared to the consensus estimate of $8.33 billion. On average, analysts predict that Medtronic plc will post 5.46 earnings per share for the current fiscal year.

Medtronic Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, January 10th. Shareholders of record on Friday, December 27th were issued a dividend of $0.70 per share. The ex-dividend date of this dividend was Friday, December 27th. This represents a $2.80 dividend on an annualized basis and a yield of 3.11%. Medtronic's payout ratio is currently 85.11%.

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.