Medtronic plc (NYSE:MDT) Shares Sold by Bard Financial Services Inc.

Bard Financial Services Inc. cut its position in Medtronic plc (NYSE:MDT) by 20.6% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 30,755 shares of the medical technology company’s stock after selling 8,000 shares during the period. Bard Financial Services Inc.’s holdings in Medtronic were worth $2,457,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently made changes to their positions in the company. Fortitude Family Office LLC acquired a new stake in Medtronic during the 3rd quarter worth $27,000. Darwin Wealth Management LLC acquired a new stake in Medtronic in the 3rd quarter valued at about $27,000. Highline Wealth Partners LLC purchased a new position in Medtronic in the 3rd quarter worth approximately $27,000. J. Stern & Co. LLP acquired a new position in shares of Medtronic during the 3rd quarter worth approximately $30,000. Finally, Chelsea Counsel Co. acquired a new stake in shares of Medtronic in the third quarter valued at approximately $45,000. 82.06% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on MDT. Royal Bank of Canada upgraded Medtronic from a “sector perform” rating to an “outperform” rating and upped their target price for the company 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 report 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 for the company in a research note on Wednesday, November 20th. Barclays lifted their price target 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, JPMorgan Chase & Co. cut their target price on Medtronic from $99.00 to $96.00 and set a “neutral” rating for the company in a research note on Friday, November 15th. One research analyst has rated the stock with a sell rating, nine have issued a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock has an average rating of “Hold” and an average target price of $95.00.

Medtronic Stock Down 0.2 %

NYSE:MDT traded down $0.17 during mid-day trading on Monday, hitting $80.78. The stock had a trading volume of 3,267,452 shares, compared to its average volume of 4,661,617. Medtronic plc has a twelve month low of $75.96 and a twelve month high of $92.68. The stock has a 50-day simple moving average of $84.89 and a two-hundred day simple moving average of $84.93. The company has a current ratio of 1.84, a quick ratio of 1.39 and a debt-to-equity ratio of 0.51. The company has a market capitalization of $103.58 billion, a PE ratio of 24.70, a PEG ratio of 2.33 and a beta of 0.83.

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

Medtronic Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, January 10th. Stockholders of record on Friday, December 27th will be issued a $0.70 dividend. This represents a $2.80 annualized dividend and a dividend yield of 3.47%. The ex-dividend date of this dividend is Friday, December 27th. Medtronic’s payout ratio is 85.63%.

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.