Medtronic plc (NYSE:MDT) Shares Sold by Resonant Capital Advisors LLC

Resonant Capital Advisors LLC trimmed its holdings in shares of Medtronic plc (NYSE:MDT) by 0.6% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 29,300 shares of the medical technology company’s stock after selling 170 shares during the quarter. Resonant Capital Advisors LLC’s holdings in Medtronic were worth $2,361,000 as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. Fortitude Family Office LLC acquired a new position in Medtronic in the 3rd quarter valued at $27,000. Highline Wealth Partners LLC acquired a new position in Medtronic in the 3rd quarter valued at $27,000. Darwin Wealth Management LLC acquired a new position in Medtronic in the 3rd quarter valued at $27,000. J. Stern & Co. LLP acquired a new position in Medtronic in the 3rd quarter valued at $30,000. Finally, Fiduciary Advisors Inc. acquired a new position in Medtronic in the 4th quarter valued at $36,000. 82.06% of the stock is owned by institutional investors and hedge funds.

Medtronic Stock Performance

Shares of Medtronic stock opened at $90.74 on Monday. The business has a 50-day moving average of $84.38 and a 200 day moving average of $86.09. Medtronic plc has a 12 month low of $75.96 and a 12 month high of $93.08. The stock has a market capitalization of $116.35 billion, a price-to-earnings ratio of 27.75, a price-to-earnings-growth ratio of 2.57 and a beta of 0.84. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.84 and a quick ratio of 1.39.

Medtronic (NYSE:MDT) last announced its earnings results on Tuesday, November 19th. The medical technology company reported $1.26 EPS for the quarter, beating 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 company had revenue of $8.40 billion during the quarter, compared to analysts’ expectations of $8.27 billion. During the same period last year, the business posted $1.25 EPS. Medtronic’s revenue for the quarter was up 5.2% on a year-over-year basis. As a group, sell-side analysts forecast that Medtronic plc will post 5.45 earnings per share for the current year.

Medtronic Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, January 10th. Shareholders of record on Friday, December 27th were given a $0.70 dividend. This represents a $2.80 dividend on an annualized basis and a yield of 3.09%. The ex-dividend date of this dividend was Friday, December 27th. Medtronic’s dividend payout ratio is currently 85.63%.

Analyst Ratings Changes

A number of brokerages have issued reports on MDT. JPMorgan Chase & Co. cut their target price on Medtronic from $99.00 to $96.00 and set a “neutral” rating for the company in a research note on Friday, November 15th. Royal Bank of Canada raised Medtronic from a “sector perform” rating to an “outperform” rating and raised their target price for the stock from $98.00 to $105.00 in a research note on Thursday, October 10th. Sanford C. Bernstein raised their target price on Medtronic from $96.00 to $97.00 and gave the stock an “outperform” rating in a research note on Wednesday, November 20th. Barclays raised their target price on Medtronic from $105.00 to $109.00 and gave the stock an “overweight” rating in a research note on Tuesday, November 26th. Finally, Robert W. Baird cut 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. One research analyst has rated the stock with a sell rating, nine have given a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $95.00.

Insider Buying and Selling at Medtronic

In other Medtronic news, EVP Brett A. Wall sold 12,437 shares of the stock in a transaction dated 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 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 position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.20% of the stock is owned by corporate insiders.

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.