Martin & Co. Inc. TN Decreases Holdings in Medtronic plc (NYSE:MDT)

Martin & Co. Inc. TN decreased its position in shares of Medtronic plc (NYSE:MDT) by 4.0% during the 4th quarter, Holdings Channel.com reports. The fund owned 6,893 shares of the medical technology company’s stock after selling 284 shares during the period. Martin & Co. Inc. TN’s holdings in Medtronic were worth $551,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Copley Financial Group Inc. purchased a new stake in shares of Medtronic during the 3rd quarter worth approximately $694,000. Olstein Capital Management L.P. raised its position in shares of Medtronic by 19.2% during the 3rd quarter. Olstein Capital Management L.P. now owns 87,000 shares of the medical technology company’s stock worth $7,833,000 after purchasing an additional 14,000 shares during the last quarter. Franklin Street Advisors Inc. NC lifted its stake in Medtronic by 32.6% in the 4th quarter. Franklin Street Advisors Inc. NC now owns 73,517 shares of the medical technology company’s stock valued at $5,873,000 after buying an additional 18,057 shares in the last quarter. Y Intercept Hong Kong Ltd grew its holdings in Medtronic by 322.6% during the 3rd quarter. Y Intercept Hong Kong Ltd now owns 73,593 shares of the medical technology company’s stock valued at $6,626,000 after buying an additional 56,178 shares during the last quarter. Finally, Czech National Bank grew its holdings in Medtronic by 6.4% during the 4th quarter. Czech National Bank now owns 278,065 shares of the medical technology company’s stock valued at $22,212,000 after buying an additional 16,786 shares during the last quarter. Hedge funds and other institutional investors own 82.06% of the company’s stock.

Medtronic Price Performance

MDT stock opened at $93.02 on Monday. The company has a quick ratio of 1.39, a current ratio of 1.84 and a debt-to-equity ratio of 0.51. Medtronic plc has a 52-week low of $75.96 and a 52-week high of $93.08. The stock’s 50 day moving average is $85.51 and its two-hundred day moving average is $86.90. The company has a market capitalization of $119.28 billion, a PE ratio of 28.45, a P/E/G ratio of 2.57 and a beta of 0.84.

Medtronic (NYSE:MDT) last issued its quarterly earnings results on Tuesday, November 19th. The medical technology company reported $1.26 earnings per share for the quarter, beating analysts’ consensus estimates of $1.25 by $0.01. Medtronic had a return on equity of 13.79% and a net margin of 13.00%. The business had revenue of $8.40 billion during the quarter, compared to the consensus estimate of $8.27 billion. During the same period in the previous year, the business earned $1.25 EPS. The business’s quarterly revenue was up 5.2% on a year-over-year basis. Analysts predict that Medtronic plc will post 5.45 earnings per share for the current fiscal year.

Medtronic Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, January 10th. Investors of record on Friday, December 27th were paid a dividend of $0.70 per share. The ex-dividend date of this dividend was Friday, December 27th. This represents a $2.80 dividend on an annualized basis and a yield of 3.01%. Medtronic’s payout ratio is currently 85.63%.

Insider Buying and Selling

In other Medtronic news, EVP Brett A. Wall sold 12,437 shares of the business’s 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 owns 40,979 shares in the company, valued at approximately $3,688,110. The trade was a 23.28 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.20% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

MDT has been the subject of a number of recent research reports. Sanford C. Bernstein lifted their price objective on Medtronic from $96.00 to $97.00 and gave the stock an “outperform” rating in a research report on Wednesday, November 20th. Robert W. Baird dropped their price objective on Medtronic from $96.00 to $93.00 and set a “neutral” rating for the company in a research report on Wednesday, November 20th. JPMorgan Chase & Co. dropped their price objective on Medtronic from $99.00 to $96.00 and set a “neutral” rating for the company in a research report on Friday, November 15th. Needham & Company LLC reiterated a “hold” rating on shares of Medtronic in a research report on Wednesday, February 12th. Finally, Wells Fargo & Company decreased their price target 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 equities research analyst has rated the stock with a sell rating, nine have issued a hold rating, six have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $95.00.

Medtronic 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.