Signal Advisors Wealth LLC Sells 394 Shares of Medtronic plc (NYSE:MDT)

Signal Advisors Wealth LLC trimmed its holdings in shares of Medtronic plc (NYSE:MDT) by 9.7% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 3,652 shares of the medical technology company’s stock after selling 394 shares during the quarter. Signal Advisors Wealth LLC’s holdings in Medtronic were worth $294,000 as of its most recent filing with the SEC.

Other hedge funds have also bought and sold shares of the company. Copley Financial Group Inc. bought a new position in Medtronic during the third quarter worth about $694,000. Olstein Capital Management L.P. increased its position in Medtronic by 19.2% during the third quarter. Olstein Capital Management L.P. now owns 87,000 shares of the medical technology company’s stock worth $7,833,000 after acquiring an additional 14,000 shares during the period. Franklin Street Advisors Inc. NC increased its position in Medtronic by 32.6% during the fourth quarter. Franklin Street Advisors Inc. NC now owns 73,517 shares of the medical technology company’s stock worth $5,873,000 after acquiring an additional 18,057 shares during the period. Y Intercept Hong Kong Ltd increased its position in Medtronic by 322.6% during the third quarter. Y Intercept Hong Kong Ltd now owns 73,593 shares of the medical technology company’s stock worth $6,626,000 after acquiring an additional 56,178 shares during the period. Finally, Ferguson Wellman Capital Management Inc. bought a new position in Medtronic in the 3rd quarter valued at about $9,486,000. 82.06% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several equities analysts have commented on the stock. Wells Fargo & Company decreased their target price on shares of Medtronic from $106.00 to $98.00 and set an “overweight” rating on the stock in a report on Wednesday, November 20th. JPMorgan Chase & Co. decreased their target price on shares of Medtronic from $99.00 to $96.00 and set a “neutral” rating on the stock in a report on Friday, November 15th. Royal Bank of Canada raised shares of Medtronic from a “sector perform” rating to an “outperform” rating and raised their target price for the company from $98.00 to $105.00 in a report on Thursday, October 10th. Robert W. Baird decreased their target price on shares of Medtronic from $96.00 to $93.00 and set a “neutral” rating on the stock in a report on Wednesday, November 20th. Finally, Citigroup raised their target price on shares of Medtronic from $85.00 to $92.00 and gave the company a “neutral” rating in a report on Tuesday, October 1st. 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.com, the company presently has a consensus rating of “Hold” and an average target price of $95.00.

Insider Transactions at Medtronic

In other news, EVP Brett A. Wall sold 9,850 shares of the business’s 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 transaction, 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 position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 0.20% of the company’s stock.

Medtronic Stock Up 0.1 %

NYSE:MDT opened at $85.33 on Thursday. The firm’s 50 day simple moving average is $83.74 and its 200 day simple moving average is $85.01. 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 plc has a one year low of $75.96 and a one year high of $92.68. The company has a market cap of $109.42 billion, a PE ratio of 26.09, a P/E/G ratio of 2.33 and a beta of 0.83.

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

Medtronic Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, January 10th. Stockholders of record on Friday, December 27th were given a $0.70 dividend. The ex-dividend date was Friday, December 27th. This represents a $2.80 dividend on an annualized basis and a dividend yield of 3.28%. Medtronic’s dividend payout ratio (DPR) is currently 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.