Personal CFO Solutions LLC Sells 424 Shares of Medtronic plc (NYSE:MDT)

Personal CFO Solutions LLC trimmed its position in shares of Medtronic plc (NYSE:MDT) by 3.8% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 10,771 shares of the medical technology company’s stock after selling 424 shares during the period. Personal CFO Solutions LLC’s holdings in Medtronic were worth $860,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Mainstream Capital Management LLC bought a new position in shares of Medtronic during the fourth quarter valued at about $26,000. Darwin Wealth Management LLC bought a new position in shares of Medtronic during the third quarter valued at about $27,000. Stephens Consulting LLC raised its stake in Medtronic by 145.7% in the fourth quarter. Stephens Consulting LLC now owns 344 shares of the medical technology company’s stock worth $27,000 after buying an additional 204 shares in the last quarter. J. Stern & Co. LLP bought a new position in Medtronic in the third quarter worth about $30,000. Finally, Fiduciary Advisors Inc. bought a new position in Medtronic in the fourth quarter worth about $36,000. 82.06% of the stock is owned by institutional investors.

Medtronic Trading Up 1.6 %

Shares of MDT stock opened at $94.58 on Friday. Medtronic plc has a 12-month low of $75.96 and a 12-month high of $95.57. The company has a current ratio of 1.90, a quick ratio of 1.39 and a debt-to-equity ratio of 0.48. The firm’s 50 day moving average is $88.33 and its 200 day moving average is $87.80. The stock has a market capitalization of $121.30 billion, a P/E ratio of 28.75, a P/E/G ratio of 2.22 and a beta of 0.80.

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

Medtronic Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, April 11th. Shareholders of record on Friday, March 28th will be given a $0.70 dividend. The ex-dividend date of this dividend is Friday, March 28th. This represents a $2.80 annualized dividend and a yield of 2.96%. Medtronic’s payout ratio is presently 85.11%.

Insiders Place Their Bets

In other Medtronic news, EVP Brett A. Wall sold 12,437 shares of the 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 transaction, the executive vice president now directly owns 40,979 shares in the company, valued at approximately $3,688,110. This trade represents a 23.28 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.20% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts recently issued reports on the stock. Citigroup raised shares of Medtronic from a “neutral” rating to a “buy” rating and increased their price target for the stock from $92.00 to $107.00 in a research note on Tuesday, March 4th. Wells Fargo & Company decreased their price target 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. JPMorgan Chase & Co. decreased their price target 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. Sanford C. Bernstein increased their price target on shares of Medtronic from $96.00 to $97.00 and gave the stock an “outperform” rating in a research note on Wednesday, November 20th. Finally, Barclays increased their price target on shares of Medtronic from $105.00 to $109.00 and gave the stock an “overweight” rating in a research note on Tuesday, November 26th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, Medtronic currently has a consensus rating of “Hold” and an average price target of $96.07.

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.