Sfmg LLC Sells 374 Shares of Medtronic plc (NYSE:MDT)

Sfmg LLC lessened its position in shares of Medtronic plc (NYSE:MDT) by 0.8% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 46,745 shares of the medical technology company’s stock after selling 374 shares during the period. Sfmg LLC’s holdings in Medtronic were worth $3,734,000 at the end of the most recent quarter.

A number of other institutional investors also recently made changes to their positions in the company. State Street Corp boosted its holdings in shares of Medtronic by 0.9% during the third quarter. State Street Corp now owns 60,731,367 shares of the medical technology company’s stock worth $5,509,155,000 after acquiring an additional 520,027 shares during the period. Raymond James Financial Inc. bought a new stake in shares of Medtronic in the fourth quarter valued at approximately $852,732,000. First Eagle Investment Management LLC boosted its stake in shares of Medtronic by 0.3% in the fourth quarter. First Eagle Investment Management LLC now owns 9,792,200 shares of the medical technology company’s stock valued at $782,201,000 after buying an additional 28,910 shares during the period. Charles Schwab Investment Management Inc. boosted its stake in shares of Medtronic by 1.7% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 8,002,051 shares of the medical technology company’s stock valued at $639,204,000 after buying an additional 134,647 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in shares of Medtronic by 436.7% in the third 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 buying an additional 5,975,110 shares during the period. Institutional investors own 82.06% of the company’s stock.

Medtronic Stock Down 0.9 %

Shares of NYSE:MDT opened at $90.37 on Friday. The company has a fifty day moving average of $90.67 and a 200-day moving average of $88.08. The company has a market capitalization of $115.90 billion, a PE ratio of 27.47, a price-to-earnings-growth ratio of 2.22 and a beta of 0.80. The company has a debt-to-equity ratio of 0.48, a quick ratio of 1.39 and a current ratio of 1.90. Medtronic plc has a 52-week low of $75.96 and a 52-week high of $96.25.

Medtronic (NYSE:MDT) last posted its quarterly earnings data on Tuesday, February 18th. The medical technology company reported $1.39 earnings per share 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 return on equity of 14.07% and a net margin of 12.83%. On average, equities analysts predict that Medtronic plc will post 5.46 EPS for the current fiscal year.

Medtronic Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, April 11th. Investors of record on Friday, March 28th will be issued a $0.70 dividend. The ex-dividend date is Friday, March 28th. This represents a $2.80 dividend on an annualized basis and a yield of 3.10%. Medtronic’s payout ratio is 85.11%.

Wall Street Analyst Weigh In

MDT has been the subject of several recent research reports. Barclays boosted their price target on Medtronic from $105.00 to $109.00 and gave the company an “overweight” rating in a research note on Tuesday, November 26th. Robert W. Baird boosted their price target on Medtronic from $90.00 to $91.00 and gave the company a “neutral” rating in a research note on Wednesday, February 19th. UBS Group boosted their price target on Medtronic from $85.00 to $95.00 and gave the company a “neutral” rating in a research note on Wednesday, February 19th. Citigroup upgraded Medtronic from a “neutral” rating to a “buy” rating and upped their target price for the stock from $92.00 to $107.00 in a research note on Tuesday, March 4th. Finally, Royal Bank of Canada restated an “outperform” rating and set a $105.00 target price on shares of Medtronic in a research note on Wednesday, February 19th. One equities research analyst has rated the stock with a sell rating, eight 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 stock currently has an average rating of “Hold” and an average target price of $96.07.

Insider Activity at Medtronic

In other Medtronic news, EVP Brett A. Wall sold 12,437 shares of the company’s stock in a transaction on 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 sale, the executive vice president now owns 40,979 shares of the company’s stock, valued at approximately $3,688,110. This represents a 23.28 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 0.20% of the stock is currently owned by company insiders.

Medtronic Company Profile

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.