Hardman Johnston Global Advisors LLC Has $15.27 Million Stock Holdings in Medtronic plc (NYSE:MDT)

Hardman Johnston Global Advisors LLC trimmed its position in Medtronic plc (NYSE:MDT) by 3.2% in the fourth quarter, Holdings Channel.com reports. The institutional investor owned 191,118 shares of the medical technology company’s stock after selling 6,270 shares during the period. Hardman Johnston Global Advisors LLC’s holdings in Medtronic were worth $15,267,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also modified their holdings of the company. Fortitude Family Office LLC acquired a new stake in shares of Medtronic in the third quarter worth $27,000. Darwin Wealth Management LLC acquired a new stake in shares of Medtronic in the third quarter worth $27,000. Highline Wealth Partners LLC acquired a new stake in shares of Medtronic in the third quarter worth $27,000. J. Stern & Co. LLP acquired a new stake in shares of Medtronic in the third quarter worth $30,000. Finally, Stephens Consulting LLC lifted its stake in shares of Medtronic by 145.7% in the fourth quarter. Stephens Consulting LLC now owns 344 shares of the medical technology company’s stock worth $27,000 after buying an additional 204 shares during the last quarter. 82.06% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of analysts have recently weighed in on the stock. Sanford C. Bernstein boosted their price objective on shares of Medtronic from $96.00 to $97.00 and gave the stock an “outperform” rating in a research note on Wednesday, November 20th. Needham & Company LLC reaffirmed a “hold” rating on shares of Medtronic in a research report on Wednesday, February 19th. Wells Fargo & Company dropped 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. UBS Group boosted their target price on shares of Medtronic from $85.00 to $95.00 and gave the stock a “neutral” rating in a research report on Wednesday, February 19th. Finally, JPMorgan Chase & Co. dropped their target price on shares of Medtronic from $99.00 to $96.00 and set a “neutral” rating on the stock in a research report on Friday, November 15th. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating, five have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, Medtronic presently has a consensus rating of “Hold” and a consensus price target of $95.00.

Medtronic Trading Up 2.3 %

Shares of Medtronic stock opened at $89.95 on Monday. The company’s fifty day moving average price is $86.08 and its two-hundred day moving average price is $87.18. The company has a debt-to-equity ratio of 0.48, a current ratio of 1.90 and a quick ratio of 1.39. Medtronic plc has a 52-week low of $75.96 and a 52-week high of $93.08. The firm has a market capitalization of $115.34 billion, a PE ratio of 27.34, a price-to-earnings-growth ratio of 2.22 and a beta of 0.84.

Medtronic (NYSE:MDT) last posted its earnings results on Tuesday, February 18th. The medical technology company reported $1.39 earnings per share for the quarter, topping the consensus estimate of $1.36 by $0.03. Medtronic had a net margin of 12.83% and a return on equity of 14.07%. The business had revenue of $8.29 billion for the quarter, compared to analyst estimates of $8.33 billion. On average, analysts expect that Medtronic plc will post 5.46 EPS for the current 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 issued a $0.70 dividend. This represents a $2.80 annualized dividend and a dividend yield of 3.11%. The ex-dividend date was Friday, December 27th. Medtronic’s payout ratio is 85.11%.

Insider Transactions at Medtronic

In related news, EVP Brett A. Wall sold 12,437 shares of the company’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 transaction, the executive vice president now owns 40,979 shares in the company, valued at $3,688,110. This represents a 23.28 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 0.20% of the stock is owned by insiders.

About Medtronic

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.