Medtronic plc (NYSE:MDT) Shares Sold by Woodstock Corp

Woodstock Corp lessened its stake in Medtronic plc (NYSE:MDT - Free Report) by 3.0% in the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 128,080 shares of the medical technology company's stock after selling 4,013 shares during the quarter. Woodstock Corp's holdings in Medtronic were worth $10,231,000 at the end of the most recent reporting period.

A number of other large investors also recently added to or reduced their stakes in MDT. Fortitude Family Office LLC acquired a new position in Medtronic during the third quarter worth about $27,000. Darwin Wealth Management LLC purchased a new stake in shares of Medtronic in the third quarter valued at approximately $27,000. Highline Wealth Partners LLC acquired a new stake in shares of Medtronic in the third quarter valued at approximately $27,000. J. Stern & Co. LLP acquired a new position in Medtronic during the third quarter worth $30,000. Finally, Chelsea Counsel Co. purchased a new stake in Medtronic in the 3rd quarter valued at $45,000. 82.06% of the stock is currently owned by institutional investors and hedge funds.

Medtronic Stock Performance

Shares of Medtronic stock traded up $1.07 on Friday, hitting $88.23. The stock had a trading volume of 9,575,404 shares, compared to its average volume of 8,246,583. The company's 50 day moving average price is $83.63 and its 200 day moving average price is $85.03. The stock has a market cap of $113.13 billion, a price-to-earnings ratio of 26.98, a P/E/G ratio of 2.28 and a beta of 0.83. 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 52-week low of $75.96 and a 52-week 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 (EPS) for the quarter, topping analysts' consensus estimates of $1.25 by $0.01. Medtronic had a net margin of 13.00% and a return on equity of 13.79%. The business had revenue of $8.40 billion for the quarter, compared to analyst estimates of $8.27 billion. During the same period last year, the firm posted $1.25 earnings per share. The company's revenue for the quarter was up 5.2% compared to the same quarter last year. On average, research analysts anticipate that Medtronic plc will post 5.45 EPS for the current year.

Medtronic Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, January 10th. Shareholders of record on Friday, December 27th were paid a dividend of $0.70 per share. This represents a $2.80 annualized dividend and a yield of 3.17%. The ex-dividend date of this dividend was Friday, December 27th. Medtronic's dividend payout ratio is presently 85.63%.

Analyst Ratings Changes

Several equities analysts have weighed in on MDT shares. Wells Fargo & Company decreased their target price on shares of Medtronic from $106.00 to $98.00 and set an "overweight" rating on the stock in a report on Wednesday, November 20th. Barclays lifted their price target on shares of Medtronic from $105.00 to $109.00 and gave the company an "overweight" rating in a research report on Tuesday, November 26th. Royal Bank of Canada upgraded shares of Medtronic from a "sector perform" rating to an "outperform" rating and upped their price objective for the stock from $98.00 to $105.00 in a report on Thursday, October 10th. Sanford C. Bernstein increased their price objective on shares of Medtronic from $96.00 to $97.00 and gave the stock an "outperform" rating in a research report on Wednesday, November 20th. Finally, JPMorgan Chase & Co. cut their target price on Medtronic from $99.00 to $96.00 and set a "neutral" rating on the stock in a research report on Friday, November 15th. One research analyst has rated the stock with a sell rating, nine have given a hold rating, six have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus price target of $95.00.

Insiders Place Their Bets

In other Medtronic news, EVP Brett A. Wall sold 9,850 shares of the stock in a transaction on Wednesday, January 8th. The stock was sold at an average price of $80.41, for a total value of $792,038.50. Following the completion of the transaction, the executive vice president now owns 40,708 shares in the company, valued at approximately $3,273,330.28. This represents a 19.48 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.20% of the stock is owned by insiders.

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.