Martin & Co. Inc. TN Cuts Position in Medtronic plc (NYSE:MDT)

Martin & Co. Inc. TN decreased its stake in Medtronic plc (NYSE:MDT) by 4.0% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 6,893 shares of the medical technology company’s stock after selling 284 shares during the quarter. Martin & Co. Inc. TN’s holdings in Medtronic were worth $551,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of MDT. Evergreen Wealth Management LLC boosted its holdings in Medtronic by 2.5% during the 4th quarter. Evergreen Wealth Management LLC now owns 26,865 shares of the medical technology company’s stock valued at $2,146,000 after acquiring an additional 663 shares during the period. Catalyst Capital Advisors LLC boosted its holdings in Medtronic by 1.4% during the 4th quarter. Catalyst Capital Advisors LLC now owns 29,325 shares of the medical technology company’s stock valued at $2,342,000 after acquiring an additional 405 shares during the period. Americana Partners LLC boosted its holdings in Medtronic by 5.8% during the 4th quarter. Americana Partners LLC now owns 6,884 shares of the medical technology company’s stock valued at $550,000 after acquiring an additional 379 shares during the period. Financiere des Professionnels Fonds d investissement inc. boosted its holdings in Medtronic by 10.4% during the 4th quarter. Financiere des Professionnels Fonds d investissement inc. now owns 139,042 shares of the medical technology company’s stock valued at $11,107,000 after acquiring an additional 13,051 shares during the period. Finally, Capital Performance Advisors LLP boosted its holdings in Medtronic by 68.2% during the 4th quarter. Capital Performance Advisors LLP now owns 4,638 shares of the medical technology company’s stock valued at $370,000 after acquiring an additional 1,881 shares during the period. Hedge funds and other institutional investors own 82.06% of the company’s stock.

Medtronic Stock Up 0.9 %

Shares of NYSE MDT opened at $93.02 on Monday. Medtronic plc has a 12-month low of $75.96 and a 12-month high of $93.08. The company has a current ratio of 1.84, a quick ratio of 1.39 and a debt-to-equity ratio of 0.51. The stock has a market cap of $119.28 billion, a P/E ratio of 28.45, a PEG ratio of 2.57 and a beta of 0.84. The business’s fifty day simple moving average is $85.51 and its 200-day simple moving average is $86.90.

Medtronic (NYSE:MDT) last posted its quarterly earnings results on Tuesday, November 19th. The medical technology company reported $1.26 earnings per share for the quarter, beating analysts’ consensus estimates of $1.25 by $0.01. Medtronic had a return on equity of 13.79% and a net margin of 13.00%. The company had revenue of $8.40 billion for the quarter, compared to analysts’ expectations of $8.27 billion. During the same period last year, the firm earned $1.25 earnings per share. Medtronic’s quarterly revenue was up 5.2% on a year-over-year basis. As a group, equities analysts predict that Medtronic plc will post 5.45 EPS for the current fiscal year.

Medtronic Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, January 10th. Stockholders of record on Friday, December 27th were given a dividend of $0.70 per share. This represents a $2.80 dividend on an annualized basis and a dividend yield of 3.01%. The ex-dividend date was Friday, December 27th. Medtronic’s dividend payout ratio (DPR) is currently 85.63%.

Insider Transactions 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 transaction of $1,119,330.00. Following the sale, the executive vice president now owns 40,979 shares in the company, valued at approximately $3,688,110. The trade was a 23.28 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.20% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on MDT shares. Wells Fargo & Company dropped their price objective on Medtronic from $106.00 to $98.00 and set an “overweight” rating for the company in a report on Wednesday, November 20th. Barclays lifted their target price on Medtronic from $105.00 to $109.00 and gave the company an “overweight” rating in a research report on Tuesday, November 26th. Needham & Company LLC reaffirmed a “hold” rating on shares of Medtronic in a research report on Wednesday, February 12th. JPMorgan Chase & Co. decreased their target price on Medtronic from $99.00 to $96.00 and set a “neutral” rating for the company in a research report on Friday, November 15th. Finally, Sanford C. Bernstein lifted their target price on Medtronic from $96.00 to $97.00 and gave the company an “outperform” rating in a research report on Wednesday, November 20th. 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 assigned a strong buy rating to the stock. According to data from MarketBeat.com, Medtronic currently has an average rating of “Hold” and a consensus price target of $95.00.

Medtronic Company 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.