Bryn Mawr Capital Management LLC Has $1.12 Million Stock Holdings in Medtronic plc (NYSE:MDT)

Bryn Mawr Capital Management LLC decreased its holdings in shares of Medtronic plc (NYSE:MDT) by 89.5% in the fourth quarter, Holdings Channel reports. The firm owned 14,063 shares of the medical technology company’s stock after selling 119,982 shares during the quarter. Bryn Mawr Capital Management LLC’s holdings in Medtronic were worth $1,123,000 at the end of the most recent reporting period.

A number of other institutional investors also recently added to or reduced their stakes in MDT. Copley Financial Group Inc. bought a new position in shares of Medtronic during the third quarter valued at $694,000. Olstein Capital Management L.P. boosted its position in Medtronic by 19.2% in the 3rd quarter. Olstein Capital Management L.P. now owns 87,000 shares of the medical technology company’s stock valued at $7,833,000 after buying an additional 14,000 shares during the last quarter. Franklin Street Advisors Inc. NC lifted its stake in shares of Medtronic by 32.6% during the fourth quarter. Franklin Street Advisors Inc. NC now owns 73,517 shares of the medical technology company’s stock valued at $5,873,000 after acquiring an additional 18,057 shares during the period. Y Intercept Hong Kong Ltd boosted its holdings in Medtronic by 322.6% in the third quarter. Y Intercept Hong Kong Ltd now owns 73,593 shares of the medical technology company’s stock valued at $6,626,000 after acquiring an additional 56,178 shares during the last quarter. Finally, Czech National Bank boosted its holdings in Medtronic by 6.4% in the fourth quarter. Czech National Bank now owns 278,065 shares of the medical technology company’s stock valued at $22,212,000 after acquiring an additional 16,786 shares during the last quarter. 82.06% of the stock is owned by institutional investors and hedge funds.

Medtronic Trading Up 1.3 %

NYSE MDT opened at $88.14 on Friday. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.84 and a quick ratio of 1.39. The stock’s 50-day moving average is $85.93 and its 200-day moving average is $87.03. Medtronic plc has a one year low of $75.96 and a one year high of $93.08. The firm has a market cap of $113.02 billion, a P/E ratio of 26.79, a P/E/G ratio of 2.44 and a beta of 0.84.

Medtronic (NYSE:MDT) last announced its quarterly earnings results on Tuesday, February 18th. The medical technology company reported $1.39 earnings per share for the quarter, beating analysts’ consensus estimates of $1.36 by $0.03. The firm had revenue of $8.29 billion for the quarter, compared to analyst estimates of $8.33 billion. Medtronic had a net margin of 12.83% and a return on equity of 14.11%. Sell-side analysts anticipate that Medtronic plc will post 5.45 earnings per share for the current fiscal year.

Medtronic Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, January 10th. Investors of record on Friday, December 27th were paid a $0.70 dividend. This represents a $2.80 dividend on an annualized basis and a yield of 3.18%. The ex-dividend date of this dividend was Friday, December 27th. Medtronic’s payout ratio is presently 85.11%.

Analyst Upgrades and Downgrades

MDT has been the topic of a number of research reports. Wells Fargo & Company cut their target price on shares of Medtronic from $106.00 to $98.00 and set an “overweight” rating on the stock in a research report on Wednesday, November 20th. Needham & Company LLC reissued a “hold” rating on shares of Medtronic in a research note on Wednesday. JPMorgan Chase & Co. reduced their price objective on shares of Medtronic from $99.00 to $96.00 and set a “neutral” rating on the stock in a research note on Friday, November 15th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $105.00 target price on shares of Medtronic in a report on Wednesday. Finally, UBS Group increased their price target on Medtronic from $85.00 to $95.00 and gave the company a “neutral” rating in a research note on Wednesday. One analyst has rated the stock with a sell rating, nine have assigned a hold rating, six have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, Medtronic currently has an average rating of “Hold” and a consensus target price of $95.20.

Insiders Place Their Bets

In other Medtronic news, EVP Brett A. Wall sold 12,437 shares of the company’s stock in a transaction that occurred on 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 completion of the transaction, the executive vice president now owns 40,979 shares of the company’s stock, valued at $3,688,110. This represents a 23.28 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 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.