Medtronic plc (NYSE:MDT) Shares Sold by Thrive Wealth Management LLC

Thrive Wealth Management LLC lessened its stake in shares of Medtronic plc (NYSE:MDT) by 9.2% in the 4th quarter, Holdings Channel.com reports. The firm owned 5,460 shares of the medical technology company’s stock after selling 556 shares during the quarter. Thrive Wealth Management LLC’s holdings in Medtronic were worth $436,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently modified their holdings of MDT. Edgestream Partners L.P. acquired a new position in shares of Medtronic during the second quarter worth about $239,000. AE Wealth Management LLC raised its stake in shares of Medtronic by 24.7% during the 2nd quarter. AE Wealth Management LLC now owns 9,578 shares of the medical technology company’s stock worth $754,000 after buying an additional 1,896 shares in the last quarter. Pacer Advisors Inc. lifted its holdings in shares of Medtronic by 37.6% in the 2nd quarter. Pacer Advisors Inc. now owns 124,197 shares of the medical technology company’s stock valued at $9,776,000 after buying an additional 33,959 shares during the period. Summit Trail Advisors LLC grew its holdings in Medtronic by 1.2% during the second quarter. Summit Trail Advisors LLC now owns 14,812 shares of the medical technology company’s stock worth $1,176,000 after acquiring an additional 169 shares during the period. Finally, Ensign Peak Advisors Inc raised its position in Medtronic by 5.9% in the second quarter. Ensign Peak Advisors Inc now owns 388,629 shares of the medical technology company’s stock worth $30,589,000 after acquiring an additional 21,545 shares in the last quarter. 82.06% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on MDT shares. Robert W. Baird cut their price target on shares of Medtronic from $96.00 to $93.00 and set a “neutral” rating for the company in a report on Wednesday, November 20th. Sanford C. Bernstein lifted their price objective on Medtronic from $96.00 to $97.00 and gave the stock an “outperform” rating in a report on Wednesday, November 20th. Citigroup upped their target price on Medtronic from $85.00 to $92.00 and gave the company a “neutral” rating in a report on Tuesday, October 1st. Evercore ISI boosted their price objective on shares of Medtronic from $100.00 to $104.00 and gave the stock an “outperform” rating in a research report on Tuesday, October 1st. Finally, Barclays raised their target price on shares of Medtronic from $105.00 to $109.00 and gave the company an “overweight” rating in a report on Tuesday, November 26th. One research analyst has rated the stock with a sell rating, nine have given a hold rating, six have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, Medtronic presently has an average rating of “Hold” and a consensus price target of $95.00.

Insider Buying and Selling

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 completion of the sale, the executive vice president now owns 40,708 shares in the company, valued at approximately $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 accessible through this link. 0.20% of the stock is currently owned by insiders.

Medtronic Trading Up 1.2 %

Shares of MDT stock opened at $88.23 on Monday. The firm has a market cap of $113.13 billion, a P/E ratio of 26.98, a PEG ratio of 2.28 and a beta of 0.83. The firm’s 50-day simple moving average is $83.64 and its 200-day simple moving average is $85.16. Medtronic plc has a 1-year low of $75.96 and a 1-year high of $92.68. 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 issued 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 business had revenue of $8.40 billion during the quarter, compared to analysts’ expectations of $8.27 billion. During the same quarter in the previous year, the business earned $1.25 EPS. The company’s revenue for the quarter was up 5.2% on a year-over-year basis. As a group, equities analysts forecast that Medtronic plc will post 5.45 EPS for the current year.

Medtronic Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, January 10th. Stockholders of record on Friday, December 27th were paid a $0.70 dividend. The ex-dividend date of this dividend was Friday, December 27th. This represents a $2.80 annualized dividend and a dividend yield of 3.17%. Medtronic’s dividend payout ratio (DPR) is presently 85.63%.

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.