Medtronic plc (NYSE:MDT) Shares Sold by FNY Investment Advisers LLC

FNY Investment Advisers LLC cut its stake in shares of Medtronic plc (NYSE:MDT) by 36.8% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 2,400 shares of the medical technology company’s stock after selling 1,400 shares during the quarter. FNY Investment Advisers LLC’s holdings in Medtronic were worth $191,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Fortitude Family Office LLC acquired a new position in Medtronic during the 3rd quarter worth approximately $27,000. Highline Wealth Partners LLC acquired a new position in shares of Medtronic during the third quarter worth $27,000. Darwin Wealth Management LLC purchased a new position in Medtronic in the third quarter valued at $27,000. J. Stern & Co. LLP acquired a new stake in Medtronic in the third quarter valued at $30,000. Finally, Kieckhefer Group LLC purchased a new stake in Medtronic during the 4th quarter worth about $40,000. 82.06% of the stock is currently owned by hedge funds and other institutional investors.

Medtronic Stock Up 4.1 %

MDT opened at $85.16 on Wednesday. Medtronic plc has a 52 week low of $75.96 and a 52 week high of $92.68. The business has a 50 day moving average price of $83.74 and a two-hundred day moving average price of $85.01. The company has a quick ratio of 1.39, a current ratio of 1.84 and a debt-to-equity ratio of 0.51. The company has a market cap of $109.20 billion, a PE ratio of 26.04, a P/E/G ratio of 2.33 and a beta of 0.83.

Medtronic (NYSE:MDT) last released its quarterly earnings results on Tuesday, November 19th. The medical technology company reported $1.26 EPS for the quarter, topping the consensus estimate 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 analysts’ expectations of $8.27 billion. During the same quarter in the prior year, the business earned $1.25 earnings per share. The company’s quarterly revenue was up 5.2% compared to the same quarter last year. As a group, research analysts anticipate that Medtronic plc will post 5.45 EPS for the current year.

Medtronic Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, January 10th. Stockholders of record on Friday, December 27th were issued a $0.70 dividend. This represents a $2.80 annualized dividend and a dividend yield of 3.29%. The ex-dividend date was Friday, December 27th. Medtronic’s payout ratio is 85.63%.

Analyst Ratings Changes

A number of research firms have recently commented on MDT. Sanford C. Bernstein increased their price objective on Medtronic from $96.00 to $97.00 and gave the company an “outperform” rating in a report on Wednesday, November 20th. Truist Financial dropped their price target on shares of Medtronic from $93.00 to $89.00 and set a “hold” rating on the stock in a research note on Wednesday, December 18th. Evercore ISI boosted their price objective on shares of Medtronic from $100.00 to $104.00 and gave the stock an “outperform” rating in a research report on Tuesday, October 1st. Barclays increased their target price on shares of Medtronic from $105.00 to $109.00 and gave the company an “overweight” rating in a research report on Tuesday, November 26th. Finally, Needham & Company LLC reissued a “hold” rating on shares of Medtronic in a research report on Monday, November 18th. 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 assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $95.00.

Insider Transactions at Medtronic

In related news, EVP Brett A. Wall sold 9,850 shares of the firm’s stock in a transaction dated Wednesday, January 8th. The shares were sold at an average price of $80.41, for a total value of $792,038.50. Following the completion of the sale, the executive vice president now owns 40,708 shares in the company, valued at $3,273,330.28. This trade represents a 19.48 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Company insiders own 0.20% of the company’s stock.

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.