Medtronic plc (NYSE:MDT) Shares Sold by Frank Rimerman Advisors LLC

Frank Rimerman Advisors LLC decreased its stake in Medtronic plc (NYSE:MDT) by 74.8% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 3,978 shares of the medical technology company’s stock after selling 11,805 shares during the period. Frank Rimerman Advisors LLC’s holdings in Medtronic were worth $318,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of MDT. Mainstream Capital Management LLC acquired a new position in shares of Medtronic in the 4th quarter valued at $26,000. Darwin Wealth Management LLC acquired a new stake in Medtronic during the 3rd quarter worth $27,000. Stephens Consulting LLC boosted its stake in Medtronic by 145.7% during the 4th quarter. Stephens Consulting LLC now owns 344 shares of the medical technology company’s stock worth $27,000 after purchasing an additional 204 shares during the period. Rakuten Securities Inc. boosted its stake in Medtronic by 753.8% during the 4th quarter. Rakuten Securities Inc. now owns 333 shares of the medical technology company’s stock worth $27,000 after purchasing an additional 294 shares during the period. Finally, J. Stern & Co. LLP acquired a new stake in Medtronic during the 3rd quarter worth $30,000. Institutional investors and hedge funds own 82.06% of the company’s stock.

Medtronic Stock Performance

Shares of MDT opened at $93.18 on Monday. The company has a 50-day simple moving average of $89.61 and a 200-day simple moving average of $87.95. The company has a quick ratio of 1.39, a current ratio of 1.90 and a debt-to-equity ratio of 0.48. The company has a market capitalization of $119.51 billion, a PE ratio of 28.32, a P/E/G ratio of 2.22 and a beta of 0.80. Medtronic plc has a 52-week low of $75.96 and a 52-week high of $96.25.

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

Medtronic Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, April 11th. Shareholders of record on Friday, March 28th will be issued a dividend of $0.70 per share. The ex-dividend date of this dividend is Friday, March 28th. This represents a $2.80 annualized dividend and a yield of 3.00%. Medtronic’s dividend payout ratio (DPR) is currently 85.11%.

Insider Buying and Selling at Medtronic

In other Medtronic news, EVP Brett A. Wall sold 12,437 shares of the firm’s stock in a transaction dated Friday, January 24th. The shares were 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 in the company, valued at approximately $3,688,110. This trade represents a 23.28 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.20% of the stock is currently owned by insiders.

Analysts Set New Price Targets

A number of brokerages recently weighed in on MDT. Royal Bank of Canada reiterated an “outperform” rating and set a $105.00 price target on shares of Medtronic in a research note on Wednesday, February 19th. Robert W. Baird increased their price target on shares of Medtronic from $90.00 to $91.00 and gave the stock a “neutral” rating in a research note on Wednesday, February 19th. Citigroup upgraded 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. 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, Wells Fargo & Company reduced 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 equities research analyst has rated the stock with a sell rating, eight have issued a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price 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.