High Note Wealth LLC Trims Position in Medtronic plc (NYSE:MDT)

High Note Wealth LLC lessened its holdings in shares of Medtronic plc (NYSE:MDT) by 2.4% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 6,873 shares of the medical technology company’s stock after selling 171 shares during the quarter. High Note Wealth LLC’s holdings in Medtronic were worth $566,000 at the end of the most recent quarter.

A number of other large investors also recently made changes to their positions in the business. Highland Capital Management LLC purchased a new position in shares of Medtronic during the 4th quarter worth $4,822,000. Columbia Trust Co 01012016 increased its holdings in shares of Medtronic by 31.4% during the 4th quarter. Columbia Trust Co 01012016 now owns 3,529 shares of the medical technology company’s stock worth $291,000 after buying an additional 844 shares during the last quarter. jvl associates llc increased its holdings in shares of Medtronic by 3.8% during the 4th quarter. jvl associates llc now owns 3,840 shares of the medical technology company’s stock worth $316,000 after buying an additional 139 shares during the last quarter. Roberts Wealth Advisors LLC increased its holdings in shares of Medtronic by 4.5% during the 4th quarter. Roberts Wealth Advisors LLC now owns 46,432 shares of the medical technology company’s stock worth $3,825,000 after buying an additional 1,987 shares during the last quarter. Finally, Tectonic Advisors LLC increased its holdings in shares of Medtronic by 42.5% during the 4th quarter. Tectonic Advisors LLC now owns 17,526 shares of the medical technology company’s stock worth $1,444,000 after buying an additional 5,229 shares during the last quarter. Hedge funds and other institutional investors own 82.06% of the company’s stock.

Medtronic Stock Performance

Shares of NYSE MDT opened at $86.92 on Thursday. The company has a quick ratio of 1.71, a current ratio of 2.30 and a debt-to-equity ratio of 0.46. The firm’s 50-day moving average price is $85.21 and its two-hundred day moving average price is $80.68. Medtronic plc has a 52-week low of $68.84 and a 52-week high of $92.02. The stock has a market capitalization of $115.41 billion, a P/E ratio of 27.68, a P/E/G ratio of 2.86 and a beta of 0.76.

Medtronic (NYSE:MDT) last announced its quarterly earnings results on Tuesday, February 20th. The medical technology company reported $1.30 EPS for the quarter, beating the consensus estimate of $1.26 by $0.04. Medtronic had a net margin of 13.00% and a return on equity of 13.71%. The company had revenue of $8.09 billion for the quarter, compared to analyst estimates of $7.95 billion. During the same quarter last year, the business earned $1.30 earnings per share. Medtronic’s revenue was up 4.7% compared to the same quarter last year. As a group, sell-side analysts forecast that Medtronic plc will post 5.2 earnings per share for the current year.

Medtronic Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, April 12th. Investors of record on Friday, March 22nd will be paid a dividend of $0.69 per share. The ex-dividend date of this dividend is Thursday, March 21st. This represents a $2.76 dividend on an annualized basis and a dividend yield of 3.18%. Medtronic’s dividend payout ratio is presently 87.90%.

Analyst Ratings Changes

A number of research firms have recently commented on MDT. Truist Financial upped their price objective on Medtronic from $87.00 to $90.00 and gave the stock a “hold” rating in a report on Wednesday, February 21st. Mizuho increased their price target on Medtronic from $95.00 to $98.00 and gave the company a “buy” rating in a report on Wednesday, February 21st. Royal Bank of Canada restated a “sector perform” rating and set a $92.00 target price on shares of Medtronic in a research note on Wednesday, February 21st. Finally, Oppenheimer raised their target price on Medtronic from $89.00 to $92.00 and gave the company a “market perform” rating in a research note on Wednesday, February 21st. One analyst has rated the stock with a sell rating, four have given a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $94.91.

Insider Activity at Medtronic

In related news, EVP Sean Salmon sold 30,695 shares of the firm’s stock in a transaction that occurred on Wednesday, February 21st. The shares were sold at an average price of $85.13, for a total transaction of $2,613,065.35. Following the transaction, the executive vice president now owns 48,289 shares in the company, valued at $4,110,842.57. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 0.30% 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.