Medtronic plc (NYSE:MDT) Shares Sold by Colton Groome Financial Advisors LLC

Colton Groome Financial Advisors LLC cut its position in shares of Medtronic plc (NYSE:MDT) by 11.8% during the 4th quarter, according to the company in its most recent filing with the SEC. The firm owned 14,407 shares of the medical technology company’s stock after selling 1,925 shares during the quarter. Colton Groome Financial Advisors LLC’s holdings in Medtronic were worth $1,151,000 as of its most recent filing with the SEC.

Several other institutional investors have also modified their holdings of the company. Fortitude Family Office LLC acquired a new stake in shares of Medtronic during the third quarter worth $27,000. Darwin Wealth Management LLC acquired a new stake in Medtronic during the 3rd quarter worth about $27,000. Highline Wealth Partners LLC purchased a new stake in Medtronic during the third quarter valued at about $27,000. J. Stern & Co. LLP acquired a new position in shares of Medtronic in the third quarter worth about $30,000. Finally, Chelsea Counsel Co. acquired a new position in shares of Medtronic in the third quarter worth about $45,000. Institutional investors and hedge funds own 82.06% of the company’s stock.

Insider Buying and Selling at Medtronic

In related news, EVP Brett A. Wall sold 12,437 shares of the company’s stock in a transaction on 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 completion of the transaction, the executive vice president now directly owns 40,979 shares in the company, valued at $3,688,110. This represents a 23.28 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 0.20% of the company’s stock.

Medtronic Trading Up 0.9 %

Medtronic stock opened at $92.21 on Thursday. Medtronic plc has a one year low of $75.96 and a one year high of $93.08. The company’s fifty day moving average price is $83.99 and its two-hundred day moving average price is $85.83. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.84 and a quick ratio of 1.39. The company has a market capitalization of $118.23 billion, a price-to-earnings ratio of 28.14, a PEG ratio of 2.49 and a beta of 0.83.

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

Medtronic Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, January 10th. Shareholders of record on Friday, December 27th were given a dividend of $0.70 per share. This represents a $2.80 dividend on an annualized basis and a yield of 3.04%. The ex-dividend date of this dividend was Friday, December 27th. Medtronic’s dividend payout ratio is 85.63%.

Analyst Ratings Changes

MDT has been the subject of several research analyst reports. Royal Bank of Canada upgraded shares of Medtronic from a “sector perform” rating to an “outperform” rating and upped their price target for the company from $98.00 to $105.00 in a research report on Thursday, October 10th. Needham & Company LLC restated a “hold” rating on shares of Medtronic in a report on Monday, November 18th. Barclays raised their target price on Medtronic from $105.00 to $109.00 and gave the stock an “overweight” rating in a research report on Tuesday, November 26th. Wells Fargo & Company dropped their price target on Medtronic from $106.00 to $98.00 and set an “overweight” rating on the stock in a research report on Wednesday, November 20th. Finally, Robert W. Baird decreased their price objective on Medtronic from $96.00 to $93.00 and set a “neutral” rating for the company in a research report on Wednesday, November 20th. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, Medtronic presently has an average rating of “Hold” and a consensus price target of $95.00.

Medtronic 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.