Medtronic plc (NYSE:MDT) Shares Sold by JGP Wealth Management LLC

JGP Wealth Management LLC reduced its position in shares of Medtronic plc (NYSE:MDT) by 14.1% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 70,597 shares of the medical technology company’s stock after selling 11,604 shares during the period. JGP Wealth Management LLC’s holdings in Medtronic were worth $5,639,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of MDT. One Capital Management LLC acquired a new stake in Medtronic during the second quarter worth about $245,000. Edgestream Partners L.P. acquired a new stake in shares of Medtronic during the second quarter valued at about $239,000. Wealth Alliance increased its position in shares of Medtronic by 6.4% during the second quarter. Wealth Alliance now owns 5,353 shares of the medical technology company’s stock valued at $421,000 after acquiring an additional 321 shares during the last quarter. Mercer Global Advisors Inc. ADV increased its position in shares of Medtronic by 0.4% during the second quarter. Mercer Global Advisors Inc. ADV now owns 129,556 shares of the medical technology company’s stock valued at $10,433,000 after acquiring an additional 561 shares during the last quarter. Finally, Vanguard Personalized Indexing Management LLC increased its position in shares of Medtronic by 30.6% during the second quarter. Vanguard Personalized Indexing Management LLC now owns 88,294 shares of the medical technology company’s stock valued at $6,846,000 after acquiring an additional 20,666 shares during the last quarter. 82.06% of the stock is currently owned by institutional investors and hedge funds.

Medtronic Stock Performance

Shares of Medtronic stock opened at $87.19 on Friday. The firm’s fifty day simple moving average is $83.65 and its 200-day simple moving average is $85.01. The stock has a market capitalization of $111.80 billion, a price-to-earnings ratio of 26.66, a PEG ratio of 2.28 and a beta of 0.83. Medtronic plc has a 12 month low of $75.96 and a 12 month high of $92.68. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.84 and a quick ratio of 1.39.

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

Medtronic Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, January 10th. Stockholders of record on Friday, December 27th were issued a $0.70 dividend. The ex-dividend date was Friday, December 27th. This represents a $2.80 dividend on an annualized basis and a dividend yield of 3.21%. Medtronic’s payout ratio is 85.63%.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on the stock. JPMorgan Chase & Co. dropped their price target on shares of Medtronic from $99.00 to $96.00 and set a “neutral” rating for the company in a research report on Friday, November 15th. Robert W. Baird lowered their price objective on shares of Medtronic from $96.00 to $93.00 and set a “neutral” rating for the company in a research note on Wednesday, November 20th. Evercore ISI raised their price objective on shares of Medtronic from $100.00 to $104.00 and gave the company an “outperform” rating in a research note on Tuesday, October 1st. Needham & Company LLC reissued a “hold” rating on shares of Medtronic in a research note on Monday, November 18th. Finally, Barclays raised their price objective on shares of Medtronic from $105.00 to $109.00 and gave the company an “overweight” rating in a research note on Tuesday, November 26th. 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 given a strong buy rating to the company. Based on data from MarketBeat, Medtronic currently has a consensus rating of “Hold” and an average target price of $95.00.

Insider Activity

In other Medtronic news, EVP Brett A. Wall sold 9,850 shares of the business’s stock in a transaction on Wednesday, January 8th. The shares were sold at an average price of $80.41, for a total value of $792,038.50. Following the transaction, the executive vice president now directly owns 40,708 shares of the company’s stock, valued at approximately $3,273,330.28. The trade was a 19.48 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 0.20% of the company’s stock.

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.