Medtronic plc (NYSE:MDT) Shares Sold by Gladstone Institutional Advisory LLC

Gladstone Institutional Advisory LLC lowered its stake in shares of Medtronic plc (NYSE:MDT) by 14.2% during the fourth quarter, Holdings Channel reports. The firm owned 23,195 shares of the medical technology company’s stock after selling 3,846 shares during the period. Gladstone Institutional Advisory LLC’s holdings in Medtronic were worth $1,853,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. CX Institutional boosted its stake in Medtronic by 9.1% in the third quarter. CX Institutional now owns 7,290 shares of the medical technology company’s stock valued at $656,000 after acquiring an additional 608 shares in the last quarter. Lynch & Associates IN lifted its holdings in shares of Medtronic by 15.8% in the 3rd quarter. Lynch & Associates IN now owns 7,324 shares of the medical technology company’s stock valued at $659,000 after purchasing an additional 1,000 shares during the last quarter. Roberts Wealth Advisors LLC boosted its position in shares of Medtronic by 1.7% in the 3rd quarter. Roberts Wealth Advisors LLC now owns 50,015 shares of the medical technology company’s stock valued at $4,408,000 after purchasing an additional 850 shares during the period. Nexus Investment Management ULC grew its stake in Medtronic by 0.5% during the 3rd quarter. Nexus Investment Management ULC now owns 217,424 shares of the medical technology company’s stock worth $19,575,000 after buying an additional 1,050 shares during the last quarter. Finally, Sumitomo Life Insurance Co. increased its position in Medtronic by 2.5% during the third quarter. Sumitomo Life Insurance Co. now owns 18,808 shares of the medical technology company’s stock worth $1,693,000 after buying an additional 458 shares during the period. Institutional investors and hedge funds own 82.06% of the company’s stock.

Medtronic Stock Performance

NYSE MDT opened at $91.35 on Thursday. The stock has a market capitalization of $117.14 billion, a price-to-earnings ratio of 27.94, a PEG ratio of 2.57 and a beta of 0.84. The business’s 50 day moving average is $85.04 and its two-hundred day moving average is $86.65. Medtronic plc has a 12-month low of $75.96 and a 12-month high of $93.08. The company has a current ratio of 1.84, a quick ratio of 1.39 and a debt-to-equity ratio of 0.51.

Medtronic (NYSE:MDT) last announced its quarterly earnings data on Tuesday, November 19th. The medical technology company reported $1.26 earnings per share 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 for the quarter, compared to analyst estimates of $8.27 billion. During the same quarter in the prior year, the company posted $1.25 earnings per share. Medtronic’s quarterly revenue was up 5.2% on a year-over-year basis. Research analysts expect that Medtronic plc will post 5.45 EPS for the current year.

Medtronic Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, January 10th. Investors of record on Friday, December 27th were paid a $0.70 dividend. This represents a $2.80 annualized dividend and a dividend yield of 3.07%. The ex-dividend date of this dividend was Friday, December 27th. Medtronic’s dividend payout ratio (DPR) is 85.63%.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on MDT. JPMorgan Chase & Co. decreased their price objective on Medtronic from $99.00 to $96.00 and set a “neutral” rating for the company in a report on Friday, November 15th. Wells Fargo & Company decreased their price target on shares of Medtronic from $106.00 to $98.00 and set an “overweight” rating for the company in a research note on Wednesday, November 20th. Needham & Company LLC reissued a “hold” rating on shares of Medtronic in a research report on Wednesday. Sanford C. Bernstein upped their target price on shares of Medtronic from $96.00 to $97.00 and gave the company an “outperform” rating in a report on Wednesday, November 20th. Finally, Robert W. Baird lowered their price target on Medtronic from $96.00 to $93.00 and set a “neutral” rating on the stock in a report on Wednesday, November 20th. One 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. Based on data from MarketBeat, the company has an average rating of “Hold” and an average target price of $95.00.

Insider Buying and Selling

In related news, EVP Brett A. Wall sold 12,437 shares of the firm’s stock in a transaction that occurred on 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 completion of the transaction, the executive vice president now directly 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 SEC, which is available at this hyperlink. 0.20% of the stock is owned by insiders.

About Medtronic

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.