NORTHSTAR ASSET MANAGEMENT Co LLC Trims Holdings in Medtronic plc (NYSE:MDT)

NORTHSTAR ASSET MANAGEMENT Co LLC reduced its stake in Medtronic plc (NYSE:MDT) by 4.1% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 5,815 shares of the medical technology company’s stock after selling 250 shares during the quarter. NORTHSTAR ASSET MANAGEMENT Co LLC’s holdings in Medtronic were worth $465,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of MDT. State Street Corp boosted its position in shares of Medtronic by 0.9% during the 3rd quarter. State Street Corp now owns 60,731,367 shares of the medical technology company’s stock valued at $5,509,155,000 after acquiring an additional 520,027 shares during the last quarter. Pzena Investment Management LLC raised its stake in Medtronic by 3.3% during the third quarter. Pzena Investment Management LLC now owns 8,582,993 shares of the medical technology company’s stock worth $772,727,000 after purchasing an additional 275,870 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in Medtronic by 436.7% in the 3rd 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 valued at $661,125,000 after purchasing an additional 5,975,110 shares during the last quarter. Raymond James & Associates grew its stake in shares of Medtronic by 2.3% in the 3rd quarter. Raymond James & Associates now owns 6,391,865 shares of the medical technology company’s stock valued at $575,460,000 after buying an additional 145,504 shares during the period. Finally, Fisher Asset Management LLC increased its holdings in shares of Medtronic by 11.5% during the 3rd quarter. Fisher Asset Management LLC now owns 5,893,720 shares of the medical technology company’s stock worth $530,612,000 after buying an additional 609,391 shares during the last quarter. 82.06% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Medtronic

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 shares were 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 ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 0.20% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on the company. Sanford C. Bernstein upped their price objective on Medtronic from $96.00 to $97.00 and gave the company an “outperform” rating in a report on Wednesday, November 20th. JPMorgan Chase & Co. decreased their price target on Medtronic from $99.00 to $96.00 and set a “neutral” rating on the stock in a research note on Friday, November 15th. Robert W. Baird cut their price objective on Medtronic from $96.00 to $93.00 and set a “neutral” rating for the company in a research report on Wednesday, November 20th. Needham & Company LLC restated a “hold” rating on shares of Medtronic in a report on Monday, November 18th. Finally, Wells Fargo & Company lowered their target price 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. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $95.00.

Medtronic Price Performance

Medtronic stock opened at $90.01 on Monday. The company has a quick ratio of 1.39, a current ratio of 1.84 and a debt-to-equity ratio of 0.51. Medtronic plc has a 52-week low of $75.96 and a 52-week high of $93.08. The firm has a market cap of $115.42 billion, a PE ratio of 27.53, a price-to-earnings-growth ratio of 2.57 and a beta of 0.84. The company’s 50 day moving average is $84.85 and its two-hundred day moving average is $86.43.

Medtronic (NYSE:MDT) last announced its quarterly earnings data on Tuesday, November 19th. The medical technology company reported $1.26 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.25 by $0.01. The business had revenue of $8.40 billion for the quarter, compared to analysts’ expectations of $8.27 billion. Medtronic had a return on equity of 13.79% and a net margin of 13.00%. The company’s revenue for the quarter was up 5.2% compared to the same quarter last year. During the same period last year, the firm earned $1.25 earnings per share. On average, research analysts expect that Medtronic plc will post 5.45 EPS for the current fiscal year.

Medtronic Dividend Announcement

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