Medtronic plc (NYSE:MDT) Shares Sold by Woodward Diversified Capital LLC

Woodward Diversified Capital LLC lessened its holdings in Medtronic plc (NYSE:MDT) by 43.5% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 2,705 shares of the medical technology company’s stock after selling 2,086 shares during the quarter. Woodward Diversified Capital LLC’s holdings in Medtronic were worth $216,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Wedmont Private Capital boosted its holdings in Medtronic by 10.5% in the third quarter. Wedmont Private Capital now owns 4,798 shares of the medical technology company’s stock valued at $418,000 after purchasing an additional 457 shares during the last quarter. USA Financial Formulas boosted its stake in shares of Medtronic by 15,529.4% in the third quarter. USA Financial Formulas now owns 2,657 shares of the medical technology company’s stock worth $239,000 after buying an additional 2,640 shares during the last quarter. San Luis Wealth Advisors LLC grew its holdings in Medtronic by 126.8% during the third quarter. San Luis Wealth Advisors LLC now owns 7,416 shares of the medical technology company’s stock worth $668,000 after acquiring an additional 4,146 shares during the period. Franklin Street Advisors Inc. NC raised its position in Medtronic by 80.8% during the third quarter. Franklin Street Advisors Inc. NC now owns 55,460 shares of the medical technology company’s stock valued at $4,993,000 after acquiring an additional 24,780 shares in the last quarter. Finally, Virginia Wealth Management Group Inc. lifted its holdings in Medtronic by 34.4% in the third quarter. Virginia Wealth Management Group Inc. now owns 29,719 shares of the medical technology company’s stock valued at $2,676,000 after acquiring an additional 7,600 shares during the period. 82.06% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

MDT has been the topic of a number of analyst reports. Wells Fargo & Company dropped their price objective on shares of Medtronic from $106.00 to $98.00 and set an “overweight” rating on the stock in a research note on Wednesday, November 20th. Robert W. Baird dropped their price target on shares of Medtronic from $96.00 to $93.00 and set a “neutral” rating on the stock in a research report on Wednesday, November 20th. Sanford C. Bernstein upped 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. Barclays raised 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. Finally, Needham & Company LLC reaffirmed a “hold” rating on shares of Medtronic in a report on Monday, November 18th. One investment analyst has rated the stock with a sell rating, nine have given a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $95.00.

Medtronic Trading Down 0.9 %

Shares of MDT stock opened at $90.01 on Friday. Medtronic plc has a fifty-two week low of $75.96 and a fifty-two week high of $93.08. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.39 and a current ratio of 1.84. The stock’s fifty day moving average is $84.78 and its two-hundred day moving average is $86.31. The firm has a market capitalization of $115.42 billion, a P/E ratio of 27.53, a PEG ratio of 2.57 and a beta of 0.84.

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, topping the consensus estimate of $1.25 by $0.01. Medtronic had a net margin of 13.00% and a return on equity of 13.79%. The firm had revenue of $8.40 billion for the quarter, compared to the consensus estimate 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% on a year-over-year basis. Research analysts expect that Medtronic plc will post 5.45 earnings per share for the current fiscal year.

Medtronic Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, January 10th. Investors of record on Friday, December 27th were issued a $0.70 dividend. The ex-dividend date of this dividend was Friday, December 27th. This represents a $2.80 annualized dividend and a dividend yield of 3.11%. Medtronic’s dividend payout ratio is presently 85.63%.

Insider Buying and Selling

In related news, EVP Brett A. Wall sold 12,437 shares of the firm’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 in the company, valued at approximately $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 Securities & Exchange Commission, which is accessible through this link. 0.20% of the stock is currently owned by company insiders.

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.