Capital Investment Advisors LLC Has $735,000 Position in Medtronic plc (NYSE:MDT)

Capital Investment Advisors LLC trimmed its position in Medtronic plc (NYSE:MDTFree Report) by 8.7% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 9,202 shares of the medical technology company’s stock after selling 874 shares during the quarter. Capital Investment Advisors LLC’s holdings in Medtronic were worth $735,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Federated Hermes Inc. grew its stake in Medtronic by 5.7% during the second quarter. Federated Hermes Inc. now owns 195,324 shares of the medical technology company’s stock worth $15,374,000 after buying an additional 10,586 shares in the last quarter. Thoroughbred Financial Services LLC increased its stake in Medtronic by 15.4% in the second quarter. Thoroughbred Financial Services LLC now owns 5,357 shares of the medical technology company’s stock valued at $421,000 after acquiring an additional 714 shares during the last quarter. One Capital Management LLC acquired a new position in Medtronic during the second quarter valued at approximately $245,000. Citizens Financial Group Inc. RI boosted its holdings in shares of Medtronic by 243.0% in the 2nd quarter. Citizens Financial Group Inc. RI now owns 12,068 shares of the medical technology company’s stock valued at $950,000 after purchasing an additional 8,550 shares in the last quarter. Finally, Renaissance Technologies LLC increased its stake in shares of Medtronic by 32.1% in the 2nd quarter. Renaissance Technologies LLC now owns 636,341 shares of the medical technology company’s stock valued at $50,086,000 after purchasing an additional 154,700 shares during the last quarter. 82.06% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research analysts have commented on the company. Robert W. Baird lowered their target price on Medtronic from $96.00 to $93.00 and set a “neutral” rating for the company in a research note on Wednesday, November 20th. JPMorgan Chase & Co. lowered their price objective on shares of Medtronic from $99.00 to $96.00 and set a “neutral” rating for the company in a research report on Friday, November 15th. Needham & Company LLC restated a “hold” rating on shares of Medtronic in a research report on Monday, November 18th. Evercore ISI upped their price target on shares of Medtronic from $100.00 to $104.00 and gave the stock an “outperform” rating in a report on Tuesday, October 1st. Finally, Citigroup raised their price objective on Medtronic from $85.00 to $92.00 and gave the company a “neutral” rating in a report on Tuesday, October 1st. One analyst has rated the stock with a sell rating, nine have assigned a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $95.00.

Check Out Our Latest Research Report on MDT

Insider Buying and Selling at Medtronic

In related news, EVP Brett A. Wall sold 9,850 shares of Medtronic stock in a transaction on Wednesday, January 8th. The shares were 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 ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Company insiders own 0.20% of the company’s stock.

Medtronic Price Performance

MDT opened at $85.16 on Wednesday. The company has a current ratio of 1.84, a quick ratio of 1.39 and a debt-to-equity ratio of 0.51. The stock has a market capitalization of $109.20 billion, a P/E ratio of 26.04, a PEG ratio of 2.33 and a beta of 0.83. The stock has a 50-day moving average price of $83.74 and a 200-day moving average price of $85.01. Medtronic plc has a 12-month low of $75.96 and a 12-month high of $92.68.

Medtronic (NYSE:MDTGet Free Report) last issued its earnings results on Tuesday, November 19th. The medical technology company reported $1.26 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.25 by $0.01. The business had revenue of $8.40 billion during the quarter, compared to analyst estimates of $8.27 billion. Medtronic had a return on equity of 13.79% and a net margin of 13.00%. Medtronic’s revenue for the quarter was up 5.2% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.25 earnings per share. Equities analysts predict that Medtronic plc will post 5.45 earnings per share for the current fiscal year.

Medtronic Dividend Announcement

The firm also recently declared 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 3.29%. The ex-dividend date of this dividend was Friday, December 27th. Medtronic’s dividend payout ratio is presently 85.63%.

Medtronic Profile

(Free Report)

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.

Further Reading

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Institutional Ownership by Quarter for Medtronic (NYSE:MDT)

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