Medtronic plc (NYSE:MDT) Shares Sold by Crestwood Advisors Group LLC

Crestwood Advisors Group LLC lessened its holdings in shares of Medtronic plc (NYSE:MDT) by 8.0% during the 4th quarter, Holdings Channel.com reports. The fund owned 6,524 shares of the medical technology company’s stock after selling 565 shares during the period. Crestwood Advisors Group LLC’s holdings in Medtronic were worth $521,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in MDT. IFP Advisors Inc grew its stake in Medtronic by 240.5% during the 4th quarter. IFP Advisors Inc now owns 35,286 shares of the medical technology company’s stock worth $2,818,000 after buying an additional 24,924 shares during the last quarter. Rowlandmiller & PARTNERS.ADV grew its stake in Medtronic by 2.5% during the 4th quarter. Rowlandmiller & PARTNERS.ADV now owns 12,946 shares of the medical technology company’s stock worth $1,034,000 after buying an additional 320 shares during the last quarter. Capital Advisors Ltd. LLC grew its stake in Medtronic by 6.2% during the 4th quarter. Capital Advisors Ltd. LLC now owns 3,384 shares of the medical technology company’s stock worth $270,000 after buying an additional 199 shares during the last quarter. MONECO Advisors LLC grew its stake in Medtronic by 1.8% during the 4th quarter. MONECO Advisors LLC now owns 6,408 shares of the medical technology company’s stock worth $512,000 after buying an additional 115 shares during the last quarter. Finally, Forvis Mazars Wealth Advisors LLC grew its stake in Medtronic by 24.2% during the 4th quarter. Forvis Mazars Wealth Advisors LLC now owns 3,207 shares of the medical technology company’s stock worth $256,000 after buying an additional 624 shares during the last quarter. Institutional investors and hedge funds own 82.06% of the company’s stock.

Analyst Ratings Changes

A number of research firms recently issued reports on MDT. Needham & Company LLC restated a “hold” rating on shares of Medtronic in a research note on Wednesday, February 19th. UBS Group raised their price target on Medtronic from $85.00 to $95.00 and gave the stock a “neutral” rating in a research note on Wednesday, February 19th. Sanford C. Bernstein raised their price target on Medtronic from $96.00 to $97.00 and gave the stock an “outperform” rating in a research note on Wednesday, November 20th. Robert W. Baird lifted their target price on Medtronic from $90.00 to $91.00 and gave the company a “neutral” rating in a research note on Wednesday, February 19th. Finally, Wells Fargo & Company lowered their target price on Medtronic from $106.00 to $98.00 and set an “overweight” rating on the stock in a research note on Wednesday, November 20th. One analyst has rated the stock with a sell rating, nine have assigned a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Hold” and an average price target of $95.00.

Insider Buying and Selling

In related news, EVP Brett A. Wall sold 12,437 shares of Medtronic stock in a transaction on Friday, January 24th. The stock was sold at an average price of $90.00, for a total transaction of $1,119,330.00. Following the completion of the transaction, the executive vice president now directly owns 40,979 shares of the company’s stock, valued at approximately $3,688,110. The trade was a 23.28 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. 0.20% of the stock is currently owned by insiders.

Medtronic Stock Up 0.4 %

MDT opened at $90.57 on Wednesday. The company has a debt-to-equity ratio of 0.48, a current ratio of 1.90 and a quick ratio of 1.39. The business has a 50 day simple moving average of $86.44 and a 200-day simple moving average of $87.30. The stock has a market capitalization of $116.13 billion, a P/E ratio of 27.53, a P/E/G ratio of 2.22 and a beta of 0.84. Medtronic plc has a 12 month low of $75.96 and a 12 month high of $93.08.

Medtronic (NYSE:MDT) last posted its quarterly earnings results on Tuesday, February 18th. The medical technology company reported $1.39 EPS for the quarter, beating the consensus estimate of $1.36 by $0.03. The business had revenue of $8.29 billion during the quarter, compared to analysts’ expectations of $8.33 billion. Medtronic had a return on equity of 14.07% and a net margin of 12.83%. On average, equities analysts anticipate that Medtronic plc will post 5.46 earnings per share for the current fiscal year.

Medtronic Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, January 10th. Investors of record on Friday, December 27th were issued a dividend of $0.70 per share. The ex-dividend date of this dividend was Friday, December 27th. This represents a $2.80 annualized dividend and a yield of 3.09%. Medtronic’s dividend payout ratio is presently 85.11%.

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.