Medtronic plc (NYSE:MDT) Shares Sold by Crestwood Advisors Group LLC

Crestwood Advisors Group LLC trimmed its holdings in shares of Medtronic plc (NYSE:MDT) by 8.0% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 6,524 shares of the medical technology company’s stock after selling 565 shares during the quarter. Crestwood Advisors Group LLC’s holdings in Medtronic were worth $521,000 as of its most recent SEC filing.

Several other large investors have also made changes to their positions in MDT. Fortitude Family Office LLC acquired a new position in Medtronic in the 3rd quarter valued at $27,000. Highline Wealth Partners LLC acquired a new position in Medtronic in the 3rd quarter valued at $27,000. Darwin Wealth Management LLC acquired a new position in Medtronic in the 3rd quarter valued at $27,000. Stephens Consulting LLC raised its stake in Medtronic by 145.7% in the 4th quarter. Stephens Consulting LLC now owns 344 shares of the medical technology company’s stock valued at $27,000 after purchasing an additional 204 shares during the last quarter. Finally, J. Stern & Co. LLP acquired a new position in Medtronic in the 3rd quarter valued at $30,000. 82.06% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, EVP Brett A. Wall sold 12,437 shares of the stock in a transaction dated 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 transaction, 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 position. The transaction 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 corporate insiders.

Medtronic Stock Performance

NYSE MDT opened at $90.57 on Wednesday. The stock has a market cap of $116.13 billion, a PE ratio of 27.53, a P/E/G ratio of 2.22 and a beta of 0.84. The company has a current ratio of 1.90, a quick ratio of 1.39 and a debt-to-equity ratio of 0.48. Medtronic plc has a twelve month low of $75.96 and a twelve month high of $93.08. The stock has a fifty day simple moving average of $86.44 and a 200-day simple moving average of $87.30.

Medtronic (NYSE:MDT) last posted its earnings results on Tuesday, February 18th. The medical technology company reported $1.39 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.36 by $0.03. Medtronic had a return on equity of 14.07% and a net margin of 12.83%. The firm had revenue of $8.29 billion for the quarter, compared to analyst estimates of $8.33 billion. Equities analysts anticipate that Medtronic plc will post 5.46 earnings per share for the current year.

Medtronic Dividend Announcement

The company also recently announced 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. This represents a $2.80 annualized dividend and a yield of 3.09%. The ex-dividend date was Friday, December 27th. Medtronic’s payout ratio is 85.11%.

Analyst Ratings Changes

MDT has been the subject of several recent research reports. UBS Group increased their price objective on Medtronic from $85.00 to $95.00 and gave the company a “neutral” rating in a research note on Wednesday, February 19th. Royal Bank of Canada restated an “outperform” rating and issued a $105.00 target price on shares of Medtronic in a report on Wednesday, February 19th. Needham & Company LLC restated a “hold” rating on shares of Medtronic in a report on Wednesday, February 19th. Robert W. Baird upped their target price on Medtronic from $90.00 to $91.00 and gave the company a “neutral” rating in a report on Wednesday, February 19th. Finally, JPMorgan Chase & Co. dropped their target price on Medtronic from $99.00 to $96.00 and set a “neutral” rating for the company in a report on Friday, November 15th. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating, five have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, Medtronic presently has an average rating of “Hold” and an average price target of $95.00.

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.