Calamos Wealth Management LLC Has $831,000 Stock Position in Medtronic plc (NYSE:MDT)

Calamos Wealth Management LLC reduced its stake in shares of Medtronic plc (NYSE:MDT) by 11.8% in the fourth quarter, HoldingsChannel.com reports. The firm owned 10,406 shares of the medical technology company’s stock after selling 1,397 shares during the period. Calamos Wealth Management LLC’s holdings in Medtronic were worth $831,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of the business. Clear Harbor Asset Management LLC raised its stake in shares of Medtronic by 1.2% in the 3rd quarter. Clear Harbor Asset Management LLC now owns 9,558 shares of the medical technology company’s stock valued at $861,000 after acquiring an additional 111 shares during the period. Guardian Wealth Management Inc. boosted its holdings in shares of Medtronic by 0.9% in the 3rd quarter. Guardian Wealth Management Inc. now owns 13,131 shares of the medical technology company’s stock valued at $1,182,000 after buying an additional 115 shares in the last quarter. First PREMIER Bank boosted its holdings in shares of Medtronic by 1.8% in the 3rd quarter. First PREMIER Bank now owns 6,417 shares of the medical technology company’s stock valued at $577,000 after buying an additional 116 shares in the last quarter. First City Capital Management Inc. boosted its holdings in shares of Medtronic by 2.9% in the 3rd quarter. First City Capital Management Inc. now owns 4,123 shares of the medical technology company’s stock valued at $371,000 after buying an additional 116 shares in the last quarter. Finally, Hardy Reed LLC raised its position in Medtronic by 4.4% in the 3rd quarter. Hardy Reed LLC now owns 2,743 shares of the medical technology company’s stock valued at $247,000 after purchasing an additional 116 shares during the last quarter. 82.06% of the stock is owned by institutional investors.

Medtronic Trading Down 0.3 %

NYSE MDT opened at $90.55 on Tuesday. The firm has a market capitalization of $116.11 billion, a price-to-earnings ratio of 27.69, a PEG ratio of 2.57 and a beta of 0.84. The company’s 50 day moving average price is $84.38 and its 200 day moving average price is $86.09. Medtronic plc has a one year low of $75.96 and a one year high of $93.08. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.39 and a current ratio of 1.84.

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

Medtronic Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, January 10th. Shareholders of record on Friday, December 27th were issued a $0.70 dividend. This represents a $2.80 dividend on an annualized basis and a yield of 3.09%. The ex-dividend date was Friday, December 27th. Medtronic’s payout ratio is 85.63%.

Analyst Ratings Changes

MDT has been the subject of a number of analyst reports. JPMorgan Chase & Co. cut their price objective on shares of Medtronic from $99.00 to $96.00 and set a “neutral” rating for the company in a research report on Friday, November 15th. Robert W. Baird cut their price objective on shares of Medtronic from $96.00 to $93.00 and set a “neutral” rating for the company in a research report on Wednesday, November 20th. Sanford C. Bernstein upped their price objective on shares of Medtronic from $96.00 to $97.00 and gave the stock an “outperform” rating in a research report on Wednesday, November 20th. Needham & Company LLC restated a “hold” rating on shares of Medtronic in a research report on Monday, November 18th. Finally, Royal Bank of Canada upgraded shares of Medtronic from a “sector perform” rating to an “outperform” rating and increased their price target for the company from $98.00 to $105.00 in a report on Thursday, October 10th. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating, six have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $95.00.

Insider Buying and Selling at Medtronic

In other news, EVP Brett A. Wall sold 12,437 shares of the stock in a transaction that occurred on Friday, January 24th. The stock was sold at an average price of $90.00, for a total value of $1,119,330.00. Following the completion of the sale, the executive vice president now directly 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 0.20% of the company’s stock.

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.