Medtronic plc (NYSE:MDT) Shares Sold by Janney Capital Management LLC

Janney Capital Management LLC reduced its position in Medtronic plc (NYSE:MDT) by 4.2% during the 4th quarter, according to its most recent filing with the SEC. The firm owned 186,539 shares of the medical technology company’s stock after selling 8,203 shares during the quarter. Janney Capital Management LLC’s holdings in Medtronic were worth $14,901,000 as of its most recent filing with the SEC.

A number of other large investors also recently bought and sold shares of the company. Clear Harbor Asset Management LLC raised its stake in Medtronic by 1.2% during the third quarter. Clear Harbor Asset Management LLC now owns 9,558 shares of the medical technology company’s stock worth $861,000 after acquiring an additional 111 shares during the period. Guardian Wealth Management Inc. raised its position in shares of Medtronic by 0.9% during the 3rd quarter. Guardian Wealth Management Inc. now owns 13,131 shares of the medical technology company’s stock worth $1,182,000 after purchasing an additional 115 shares during the period. First PREMIER Bank raised its position in shares of Medtronic by 1.8% during the 3rd quarter. First PREMIER Bank now owns 6,417 shares of the medical technology company’s stock worth $577,000 after purchasing an additional 116 shares during the period. First City Capital Management Inc. increased its position in Medtronic by 2.9% in the third quarter. First City Capital Management Inc. now owns 4,123 shares of the medical technology company’s stock worth $371,000 after buying an additional 116 shares during the period. Finally, Hardy Reed LLC increased its position in Medtronic by 4.4% in the third quarter. Hardy Reed LLC now owns 2,743 shares of the medical technology company’s stock worth $247,000 after buying an additional 116 shares during the period. Hedge funds and other institutional investors own 82.06% of the company’s stock.

Medtronic Stock Performance

Shares of NYSE MDT opened at $87.77 on Wednesday. Medtronic plc has a 52-week low of $75.96 and a 52-week high of $92.68. The stock has a market capitalization of $112.55 billion, a price-to-earnings ratio of 26.90, a PEG ratio of 2.49 and a beta of 0.83. 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 stock’s fifty day simple moving average is $83.64 and its 200 day simple moving average is $85.37.

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

Medtronic Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, January 10th. Investors of record on Friday, December 27th were given a $0.70 dividend. The ex-dividend date of this dividend was Friday, December 27th. This represents a $2.80 annualized dividend and a dividend yield of 3.19%. Medtronic’s dividend payout ratio (DPR) is presently 85.63%.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on MDT shares. Sanford C. Bernstein increased their target price on Medtronic from $96.00 to $97.00 and gave the stock an “outperform” rating in a research report on Wednesday, November 20th. Royal Bank of Canada raised shares of Medtronic from a “sector perform” rating to an “outperform” rating and increased their price objective for the stock from $98.00 to $105.00 in a report on Thursday, October 10th. Needham & Company LLC restated a “hold” rating on shares of Medtronic in a research note on Monday, November 18th. Wells Fargo & Company dropped their price target on shares of Medtronic from $106.00 to $98.00 and set an “overweight” rating on the stock in a research note on Wednesday, November 20th. Finally, Robert W. Baird lowered their price target on Medtronic from $96.00 to $93.00 and set a “neutral” rating on the stock in a report on Wednesday, November 20th. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, Medtronic has an average rating of “Hold” and an average price target of $95.00.

Insider Activity at Medtronic

In related news, EVP Brett A. Wall sold 9,850 shares of the stock in a transaction dated Wednesday, January 8th. The stock was 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 directly owns 40,708 shares of the company’s stock, valued at approximately $3,273,330.28. This represents a 19.48 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.20% of the stock is owned by insiders.

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.