Medtronic plc (NYSE:MDT) Shares Sold by Sector Gamma AS

Sector Gamma AS lowered its holdings in Medtronic plc (NYSE:MDT) by 4.4% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 320,000 shares of the medical technology company’s stock after selling 14,890 shares during the period. Medtronic comprises 8.8% of Sector Gamma AS’s portfolio, making the stock its 2nd largest position. Sector Gamma AS’s holdings in Medtronic were worth $25,562,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. Adams Diversified Equity Fund Inc. purchased a new position in Medtronic in the fourth quarter valued at about $15,409,000. Kiker Wealth Management LLC bought a new position in Medtronic during the 4th quarter worth approximately $530,000. AllSquare Wealth Management LLC lifted its holdings in Medtronic by 24.6% during the 4th quarter. AllSquare Wealth Management LLC now owns 6,084 shares of the medical technology company’s stock worth $486,000 after buying an additional 1,200 shares during the last quarter. HUB Investment Partners LLC lifted its holdings in Medtronic by 21.8% during the 4th quarter. HUB Investment Partners LLC now owns 17,160 shares of the medical technology company’s stock worth $1,371,000 after buying an additional 3,074 shares during the last quarter. Finally, Northwest & Ethical Investments L.P. lifted its holdings in Medtronic by 6.4% during the 4th quarter. Northwest & Ethical Investments L.P. now owns 22,722 shares of the medical technology company’s stock worth $1,815,000 after buying an additional 1,371 shares during the last quarter. Hedge funds and other institutional investors own 82.06% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have commented on MDT. Robert W. Baird increased their target price on Medtronic from $90.00 to $91.00 and gave the stock a “neutral” rating in a report on Wednesday, February 19th. Royal Bank of Canada reiterated an “outperform” rating and set a $105.00 price target on shares of Medtronic in a research report on Wednesday, February 19th. Barclays increased their price target on Medtronic from $105.00 to $109.00 and gave the stock an “overweight” rating in a research report on Tuesday, November 26th. Needham & Company LLC reiterated a “hold” rating on shares of Medtronic in a research report on Wednesday, February 19th. Finally, Citigroup upgraded Medtronic from a “neutral” rating to a “buy” rating and increased their price target for the stock from $92.00 to $107.00 in a research report on Tuesday, March 4th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, Medtronic currently has an average rating of “Hold” and a consensus target price of $96.07.

Medtronic Stock Down 0.8 %

Shares of MDT stock opened at $91.15 on Friday. Medtronic plc has a 1 year low of $75.96 and a 1 year high of $96.25. The stock has a market cap of $116.91 billion, a PE ratio of 27.71, a price-to-earnings-growth ratio of 2.22 and a beta of 0.80. The business’s fifty day moving average is $90.47 and its 200-day moving average is $88.06. The company has a debt-to-equity ratio of 0.48, a quick ratio of 1.39 and a current ratio of 1.90.

Medtronic (NYSE:MDT) last released its quarterly earnings data 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. The business had revenue of $8.29 billion during the quarter, compared to analyst estimates of $8.33 billion. Medtronic had a return on equity of 14.07% and a net margin of 12.83%. Equities analysts expect that Medtronic plc will post 5.46 earnings per share for the current fiscal year.

Medtronic Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, April 11th. Stockholders of record on Friday, March 28th will be paid a dividend of $0.70 per share. This represents a $2.80 annualized dividend and a dividend yield of 3.07%. The ex-dividend date is Friday, March 28th. Medtronic’s dividend payout ratio is presently 85.11%.

Insider Transactions at Medtronic

In other news, EVP Brett A. Wall sold 12,437 shares of the firm’s stock in a transaction on Friday, January 24th. The stock was sold at an average price of $90.00, for a total value of $1,119,330.00. Following the completion of the sale, the executive vice president now owns 40,979 shares of the company’s stock, valued at $3,688,110. This trade represents a 23.28 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at 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.