STA Wealth Management LLC trimmed its position in Medtronic plc. (NYSE:MDT) by 10.9% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 14,530 shares of the medical technology company’s stock after selling 1,773 shares during the period. Medtronic comprises about 0.3% of STA Wealth Management LLC’s portfolio, making the stock its 25th largest holding. STA Wealth Management LLC’s holdings in Medtronic were worth $1,173,000 at the end of the most recent reporting period.
A number of other hedge funds have also recently bought and sold shares of MDT. Quadrant Capital Group LLC boosted its holdings in Medtronic by 21.5% in the 2nd quarter. Quadrant Capital Group LLC now owns 1,639 shares of the medical technology company’s stock worth $114,000 after buying an additional 290 shares during the last quarter. Blue Chip Partners Inc. acquired a new stake in Medtronic in the 3rd quarter worth about $118,000. Barrett Asset Management LLC boosted its holdings in Medtronic by 856.0% in the 4th quarter. Barrett Asset Management LLC now owns 1,826 shares of the medical technology company’s stock worth $147,000 after buying an additional 1,635 shares during the last quarter. Westwood Holdings Group Inc. acquired a new stake in Medtronic in the 2nd quarter worth about $151,000. Finally, SevenBridge Financial Group LLC boosted its holdings in Medtronic by 76.2% in the 3rd quarter. SevenBridge Financial Group LLC now owns 2,197 shares of the medical technology company’s stock worth $171,000 after buying an additional 950 shares during the last quarter. Institutional investors own 80.79% of the company’s stock.
MDT has been the topic of several research analyst reports. SunTrust Banks set a $92.00 price objective on Medtronic and gave the stock a “buy” rating in a report on Sunday, November 19th. Stifel Nicolaus boosted their target price on Medtronic from $83.00 to $85.00 and gave the stock a “hold” rating in a report on Wednesday, November 22nd. Oppenheimer restated a “buy” rating and set a $94.00 target price on shares of Medtronic in a report on Wednesday, November 22nd. Northland Securities restated a “hold” rating and set a $80.00 target price on shares of Medtronic in a report on Wednesday, November 22nd. Finally, Zacks Investment Research upgraded Medtronic from a “sell” rating to a “hold” rating in a report on Thursday, November 23rd. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and sixteen have assigned a buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus price target of $91.50.
Medtronic (NYSE:MDT) last released its quarterly earnings results on Tuesday, February 20th. The medical technology company reported $1.17 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.16 by $0.01. The firm had revenue of $7.37 billion for the quarter, compared to analyst estimates of $7.20 billion. Medtronic had a net margin of 9.44% and a return on equity of 12.65%. The business’s revenue for the quarter was up 1.2% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.12 EPS. analysts forecast that Medtronic plc. will post 4.75 earnings per share for the current year.
The company also recently declared a quarterly dividend, which will be paid on Friday, April 13th. Stockholders of record on Friday, March 23rd will be given a dividend of $0.46 per share. This represents a $1.84 annualized dividend and a dividend yield of 2.20%. The ex-dividend date of this dividend is Thursday, March 22nd. Medtronic’s payout ratio is presently 90.64%.
In other news, EVP Bryan C. Hanson sold 16,000 shares of Medtronic stock in a transaction that occurred on Friday, December 15th. The shares were sold at an average price of $82.82, for a total transaction of $1,325,120.00. Following the sale, the executive vice president now owns 88,818 shares of the company’s stock, valued at approximately $7,355,906.76. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, VP Richard Kuntz sold 78,526 shares of Medtronic stock in a transaction that occurred on Tuesday, January 9th. The shares were sold at an average price of $86.21, for a total transaction of $6,769,726.46. Following the sale, the vice president now directly owns 149,761 shares in the company, valued at approximately $12,910,895.81. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 145,163 shares of company stock worth $12,232,045. Corporate insiders own 0.31% of the company’s stock.
Medtronic Public Limited Company (Medtronic) is a medical technology and services company. The Company develops, manufactures and markets its medical devices and technologies to hospitals, physicians, clinicians and patients in approximately 160 countries. The Company operates in four segments: Cardiac and Vascular Group, Minimally Invasive Technologies Group, Restorative Therapies Group and Diabetes Group.
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