Parkside Investments LLC Has $271,000 Holdings in Medtronic plc (NYSE:MDT)

Parkside Investments LLC decreased its position in Medtronic plc (NYSE:MDT) by 8.1% during the 4th quarter, HoldingsChannel.com reports. The firm owned 3,394 shares of the medical technology company’s stock after selling 300 shares during the period. Parkside Investments LLC’s holdings in Medtronic were worth $271,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of the company. Fortitude Family Office LLC acquired a new stake in Medtronic in the 3rd quarter valued at approximately $27,000. Highline Wealth Partners LLC bought a new position in shares of Medtronic during the 3rd quarter worth approximately $27,000. Darwin Wealth Management LLC acquired a new stake in shares of Medtronic in the third quarter valued at approximately $27,000. J. Stern & Co. LLP acquired a new position in Medtronic during the third quarter worth $30,000. Finally, Kieckhefer Group LLC bought a new position in Medtronic in the fourth quarter valued at $40,000. 82.06% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages have commented on MDT. Sanford C. Bernstein boosted their price target on shares of Medtronic from $96.00 to $97.00 and gave the stock an “outperform” rating in a research report on Wednesday, November 20th. Citigroup increased their price target on Medtronic from $85.00 to $92.00 and gave the company a “neutral” rating in a research report on Tuesday, October 1st. Robert W. Baird decreased their price target on Medtronic from $96.00 to $93.00 and set a “neutral” rating for the company in a research note on Wednesday, November 20th. Royal Bank of Canada upgraded Medtronic from a “sector perform” rating to an “outperform” rating and upped their price objective for the stock from $98.00 to $105.00 in a research note on Thursday, October 10th. Finally, JPMorgan Chase & Co. decreased their target price on shares of Medtronic from $99.00 to $96.00 and set a “neutral” rating for the company in a research note on Friday, November 15th. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating, six have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, Medtronic currently has a consensus rating of “Hold” and an average target price of $95.00.

Medtronic Stock Up 0.9 %

Medtronic stock opened at $90.07 on Monday. The company’s 50-day moving average price is $83.75 and its two-hundred day moving average price is $85.62. The company has a quick ratio of 1.39, a current ratio of 1.84 and a debt-to-equity ratio of 0.51. The stock has a market cap of $115.49 billion, a P/E ratio of 27.54, a P/E/G ratio of 2.49 and a beta of 0.83. Medtronic plc has a twelve month low of $75.96 and a twelve month high of $92.68.

Medtronic (NYSE:MDT) last announced its earnings results 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. The company had revenue of $8.40 billion for the quarter, compared to analyst estimates of $8.27 billion. Medtronic had a return on equity of 13.79% and a net margin of 13.00%. The firm’s quarterly revenue was up 5.2% compared to the same quarter last year. During the same quarter last year, the company earned $1.25 earnings per share. As a group, analysts expect that Medtronic plc will post 5.45 EPS for the current year.

Medtronic Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, January 10th. Stockholders of record on Friday, December 27th were issued a dividend of $0.70 per share. This represents a $2.80 dividend on an annualized basis and a dividend yield of 3.11%. The ex-dividend date of this dividend was Friday, December 27th. Medtronic’s dividend payout ratio is currently 85.63%.

Insider Activity at Medtronic

In other news, EVP Brett A. Wall sold 9,850 shares of Medtronic stock in a transaction that occurred 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 directly 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 transaction 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 corporate 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.