Valley National Advisers Inc. Sells 7,370 Shares of Medtronic plc (NYSE:MDT)

Valley National Advisers Inc. cut its position in shares of Medtronic plc (NYSE:MDT - Free Report) by 21.4% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 27,117 shares of the medical technology company's stock after selling 7,370 shares during the quarter. Valley National Advisers Inc.'s holdings in Medtronic were worth $2,165,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Centaurus Financial Inc. raised its stake in shares of Medtronic by 34.8% in the second quarter. Centaurus Financial Inc. now owns 6,250 shares of the medical technology company's stock valued at $492,000 after acquiring an additional 1,613 shares during the last quarter. Czech National Bank grew its holdings in Medtronic by 3.3% during the 3rd quarter. Czech National Bank now owns 261,279 shares of the medical technology company's stock worth $23,523,000 after acquiring an additional 8,249 shares during the period. Curbstone Financial Management Corp acquired a new stake in Medtronic during the 3rd quarter worth $413,000. Park Avenue Securities LLC grew its holdings in shares of Medtronic by 3.3% in the 3rd quarter. Park Avenue Securities LLC now owns 24,993 shares of the medical technology company's stock valued at $2,250,000 after buying an additional 809 shares during the period. Finally, Biltmore Wealth Management LLC grew its holdings in shares of Medtronic by 8.0% in the 3rd quarter. Biltmore Wealth Management LLC now owns 6,925 shares of the medical technology company's stock valued at $623,000 after buying an additional 510 shares during the period. Institutional investors own 82.06% of the company's stock.

Medtronic Trading Up 0.5 %

Shares of NYSE:MDT traded up $0.46 during mid-day trading on Tuesday, reaching $90.99. 5,193,094 shares of the company's stock were exchanged, compared to its average volume of 7,546,100. The firm has a market capitalization of $116.67 billion, a price-to-earnings ratio of 27.82, a PEG ratio of 2.57 and a beta of 0.84. The business's fifty day moving average price is $84.47 and its 200-day moving average price is $86.16. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.39 and a current ratio of 1.84. Medtronic plc has a twelve month low of $75.96 and a twelve month high of $93.08.

Medtronic (NYSE:MDT - Get Free Report) last issued its quarterly earnings results on Tuesday, November 19th. The medical technology company reported $1.26 EPS for the quarter, topping analysts' consensus estimates of $1.25 by $0.01. The company had revenue of $8.40 billion for the quarter, compared to analyst estimates of $8.27 billion. Medtronic had a net margin of 13.00% and a return on equity of 13.79%. Medtronic'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 earnings per share. On average, research analysts predict that Medtronic plc will post 5.45 EPS for the current fiscal year.

Medtronic Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, January 10th. Shareholders of record on Friday, December 27th were paid a $0.70 dividend. This represents a $2.80 annualized dividend and a yield of 3.08%. The ex-dividend date was Friday, December 27th. Medtronic's dividend payout ratio (DPR) is currently 85.63%.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on MDT shares. Wells Fargo & Company reduced their target price on shares of Medtronic from $106.00 to $98.00 and set an "overweight" rating for the company in a research note on Wednesday, November 20th. Royal Bank of Canada raised shares of Medtronic from a "sector perform" rating to an "outperform" rating and upped their target price for the stock from $98.00 to $105.00 in a research note on Thursday, October 10th. Barclays upped their target price on shares of Medtronic from $105.00 to $109.00 and gave the stock an "overweight" rating in a research note on Tuesday, November 26th. Needham & Company LLC reaffirmed a "hold" rating on shares of Medtronic in a research note on Monday, November 18th. Finally, JPMorgan Chase & Co. reduced their price objective on shares of Medtronic from $99.00 to $96.00 and set a "neutral" rating for the company in a research note on Friday, November 15th. One research analyst has rated the stock with a sell rating, nine have issued a hold rating, six have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, Medtronic has a consensus rating of "Hold" and a consensus target price of $95.00.

Insider Buying and Selling at Medtronic

In other news, EVP Brett A. Wall sold 12,437 shares of the business's 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 sale, the executive vice president now directly owns 40,979 shares of the company's stock, valued at $3,688,110. The trade was a 23.28 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Insiders own 0.20% of the company's stock.

Medtronic 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.