Medtronic plc (NYSE:MDT) Shares Sold by Jamison Private Wealth Management Inc.

Jamison Private Wealth Management Inc. trimmed its holdings in shares of Medtronic plc (NYSE:MDT) by 4.5% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 7,410 shares of the medical technology company’s stock after selling 346 shares during the period. Jamison Private Wealth Management Inc.’s holdings in Medtronic were worth $592,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of MDT. State Street Corp increased its position in shares of Medtronic by 0.9% in the third quarter. State Street Corp now owns 60,731,367 shares of the medical technology company’s stock worth $5,509,155,000 after acquiring an additional 520,027 shares in the last quarter. Pzena Investment Management LLC increased its stake in shares of Medtronic by 3.3% in the third quarter. Pzena Investment Management LLC now owns 8,582,993 shares of the medical technology company’s stock worth $772,727,000 after acquiring an additional 275,870 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in Medtronic by 436.7% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 7,343,385 shares of the medical technology company’s stock worth $661,125,000 after purchasing an additional 5,975,110 shares during the last quarter. Raymond James & Associates raised its stake in shares of Medtronic by 2.3% during the 3rd quarter. Raymond James & Associates now owns 6,391,865 shares of the medical technology company’s stock worth $575,460,000 after purchasing an additional 145,504 shares in the last quarter. Finally, Fisher Asset Management LLC lifted its holdings in shares of Medtronic by 11.5% during the 3rd quarter. Fisher Asset Management LLC now owns 5,893,720 shares of the medical technology company’s stock valued at $530,612,000 after buying an additional 609,391 shares during the last quarter. 82.06% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research firms recently commented on MDT. Robert W. Baird dropped their price objective on Medtronic from $96.00 to $93.00 and set a “neutral” rating on the stock in a report on Wednesday, November 20th. Needham & Company LLC restated a “hold” rating on shares of Medtronic in a research note on Monday, November 18th. Sanford C. Bernstein lifted their price objective on shares of Medtronic from $96.00 to $97.00 and gave the company an “outperform” rating in a research note on Wednesday, November 20th. Wells Fargo & Company lowered their target price on shares of Medtronic from $106.00 to $98.00 and set an “overweight” rating on the stock in a research report on Wednesday, November 20th. Finally, Citigroup boosted their price target on Medtronic from $85.00 to $92.00 and gave the stock a “neutral” rating in a research report on Tuesday, October 1st. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating, six have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $95.00.

Medtronic Trading Up 0.9 %

Shares of Medtronic stock opened at $90.07 on Friday. Medtronic plc has a 52-week low of $75.96 and a 52-week high of $92.68. The firm has a market capitalization of $115.49 billion, a PE ratio of 27.54, a price-to-earnings-growth ratio of 2.49 and a beta of 0.83. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.84 and a quick ratio of 1.39. The company’s fifty day moving average price is $83.75 and its two-hundred day moving average price is $85.50.

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

Medtronic Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, January 10th. Investors of record on Friday, December 27th were paid a $0.70 dividend. This represents a $2.80 annualized dividend and a yield of 3.11%. The ex-dividend date was Friday, December 27th. Medtronic’s dividend payout ratio is 85.63%.

Insider Buying and Selling at Medtronic

In other Medtronic news, EVP Brett A. Wall sold 9,850 shares of the business’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 transaction, the executive vice president now directly owns 40,708 shares in the company, valued at $3,273,330.28. The trade was a 19.48 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Company 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.