New England Research & Management Inc. Has $994,000 Stake in Medtronic plc (NYSE:MDT)

New England Research & Management Inc. lessened its holdings in shares of Medtronic plc (NYSE:MDT) by 14.3% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 12,443 shares of the medical technology company’s stock after selling 2,084 shares during the period. New England Research & Management Inc.’s holdings in Medtronic were worth $994,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Fortitude Family Office LLC acquired a new position in shares of Medtronic during the third quarter worth $27,000. Highline Wealth Partners LLC bought a new position in Medtronic in the 3rd quarter valued at approximately $27,000. Darwin Wealth Management LLC acquired a new stake in Medtronic during the 3rd quarter worth approximately $27,000. J. Stern & Co. LLP bought a new stake in Medtronic during the 3rd quarter worth approximately $30,000. Finally, Kieckhefer Group LLC acquired a new position in Medtronic in the 4th quarter valued at approximately $40,000. 82.06% of the stock is currently owned by institutional investors and hedge funds.

Medtronic Trading Down 0.5 %

Shares of MDT stock opened at $91.51 on Thursday. Medtronic plc has a 52-week low of $75.96 and a 52-week high of $93.08. The business’s fifty day moving average is $83.99 and its 200 day moving average is $85.83. 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 company has a market capitalization of $117.34 billion, a PE ratio of 27.98, a price-to-earnings-growth ratio of 2.49 and a beta of 0.83.

Medtronic (NYSE:MDT) last issued its quarterly earnings data on Tuesday, November 19th. The medical technology company reported $1.26 EPS for the quarter, topping the consensus estimate 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 during the quarter, compared to analyst estimates of $8.27 billion. During the same quarter in the previous year, the firm earned $1.25 earnings per share. Medtronic’s revenue was up 5.2% on a year-over-year basis. On average, equities research analysts anticipate 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. Shareholders of record on Friday, December 27th were paid a $0.70 dividend. This represents a $2.80 annualized dividend and a yield of 3.06%. The ex-dividend date of this dividend was Friday, December 27th. Medtronic’s dividend payout ratio is currently 85.63%.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on MDT shares. Needham & Company LLC reiterated a “hold” rating on shares of Medtronic in a report on Monday, November 18th. Robert W. Baird reduced their price target on Medtronic from $96.00 to $93.00 and set a “neutral” rating on the stock in a research report on Wednesday, November 20th. Royal Bank of Canada upgraded Medtronic from a “sector perform” rating to an “outperform” rating and raised their price objective for the stock from $98.00 to $105.00 in a research report on Thursday, October 10th. Barclays upped their target price on Medtronic from $105.00 to $109.00 and gave the company an “overweight” rating in a report on Tuesday, November 26th. Finally, Wells Fargo & Company reduced 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. One equities 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.com, the stock has an average rating of “Hold” and a consensus target price of $95.00.

Insider Buying and Selling at Medtronic

In other Medtronic news, EVP Brett A. Wall sold 9,850 shares of Medtronic stock in a transaction that occurred 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 transaction, the executive vice president now directly owns 40,708 shares of the company’s stock, valued at $3,273,330.28. The trade was a 19.48 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Company 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.