Roffman Miller Associates Inc. PA Trims Stock Position in Medtronic plc (NYSE:MDT)

Roffman Miller Associates Inc. PA decreased its position in shares of Medtronic plc (NYSE:MDT) by 30.3% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 30,662 shares of the medical technology company’s stock after selling 13,331 shares during the quarter. Roffman Miller Associates Inc. PA’s holdings in Medtronic were worth $2,449,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in shares of Medtronic by 436.7% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 7,343,385 shares of the medical technology company’s stock worth $661,125,000 after acquiring an additional 5,975,110 shares during the last quarter. Van ECK Associates Corp raised its position in Medtronic by 2,043.4% in the 4th quarter. Van ECK Associates Corp now owns 2,598,150 shares of the medical technology company’s stock valued at $207,540,000 after purchasing an additional 2,476,935 shares during the last quarter. Bank of Montreal Can boosted its stake in Medtronic by 65.0% during the 3rd quarter. Bank of Montreal Can now owns 4,546,819 shares of the medical technology company’s stock worth $406,122,000 after purchasing an additional 1,790,483 shares during the period. Janus Henderson Group PLC grew its position in Medtronic by 58.4% during the 3rd quarter. Janus Henderson Group PLC now owns 3,850,914 shares of the medical technology company’s stock worth $346,705,000 after purchasing an additional 1,420,263 shares during the last quarter. Finally, Worldquant Millennium Advisors LLC increased its stake in Medtronic by 5,124.5% in the third quarter. Worldquant Millennium Advisors LLC now owns 1,035,708 shares of the medical technology company’s stock valued at $93,245,000 after purchasing an additional 1,015,884 shares during the period. Institutional investors and hedge funds own 82.06% of the company’s stock.

Insider Buying and Selling

In other news, EVP Brett A. Wall sold 9,850 shares of the business’s stock in a transaction on Wednesday, January 8th. The shares were sold at an average price of $80.41, for a total transaction of $792,038.50. Following the completion of the sale, 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 position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 0.20% of the stock is currently owned by company insiders.

Medtronic Trading Up 2.3 %

Shares of MDT opened at $89.95 on Monday. Medtronic plc has a fifty-two week low of $75.96 and a fifty-two week high of $93.08. The company has a market capitalization of $115.34 billion, a PE ratio of 27.34, a price-to-earnings-growth ratio of 2.22 and a beta of 0.84. The stock has a fifty day moving average of $86.08 and a two-hundred day moving average of $87.18. The company has a debt-to-equity ratio of 0.48, a quick ratio of 1.39 and a current ratio of 1.90.

Medtronic (NYSE:MDT) last released its earnings results on Tuesday, February 18th. The medical technology company reported $1.39 earnings per share for the quarter, topping the consensus estimate of $1.36 by $0.03. The firm had revenue of $8.29 billion for the quarter, compared to the consensus estimate of $8.33 billion. Medtronic had a return on equity of 14.07% and a net margin of 12.83%. As a group, analysts forecast that Medtronic plc will post 5.46 EPS for the current year.

Medtronic Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, January 10th. Investors of record on Friday, December 27th were issued a $0.70 dividend. The ex-dividend date of this dividend was Friday, December 27th. This represents a $2.80 dividend on an annualized basis and a yield of 3.11%. Medtronic’s payout ratio is 85.11%.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on MDT shares. JPMorgan Chase & Co. dropped their price target on Medtronic from $99.00 to $96.00 and set a “neutral” rating on the stock in a research report on Friday, November 15th. Needham & Company LLC restated a “hold” rating on shares of Medtronic in a research note on Wednesday, February 19th. Robert W. Baird increased their price target on Medtronic from $90.00 to $91.00 and gave the stock a “neutral” rating in a report on Wednesday, February 19th. Wells Fargo & Company dropped their price objective on shares of Medtronic from $106.00 to $98.00 and set an “overweight” rating on the stock in a research note on Wednesday, November 20th. Finally, Royal Bank of Canada restated an “outperform” rating and set a $105.00 price objective on shares of Medtronic in a research report on Wednesday, February 19th. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating, five have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $95.00.

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.