Hedeker Wealth LLC Sells 562 Shares of Medtronic plc (NYSE:MDT)

Hedeker Wealth LLC lessened its stake in Medtronic plc (NYSE:MDT) by 1.2% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 46,973 shares of the medical technology company’s stock after selling 562 shares during the period. Hedeker Wealth LLC’s holdings in Medtronic were worth $3,752,000 at the end of the most recent reporting period.

Several other hedge funds have also made changes to their positions in the stock. Fortitude Family Office LLC bought a new position in Medtronic during the third quarter worth about $27,000. Darwin Wealth Management LLC bought a new position in Medtronic during the third quarter worth about $27,000. Highline Wealth Partners LLC bought a new position in Medtronic during the third quarter worth about $27,000. J. Stern & Co. LLP bought a new position in Medtronic during the third quarter worth about $30,000. Finally, Stephens Consulting LLC lifted its stake in Medtronic by 145.7% during the fourth quarter. Stephens Consulting LLC now owns 344 shares of the medical technology company’s stock worth $27,000 after purchasing an additional 204 shares during the period. Institutional investors own 82.06% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have commented on MDT. Robert W. Baird cut their price target on shares of Medtronic from $96.00 to $93.00 and set a “neutral” rating for the company in a research note on Wednesday, November 20th. Barclays lifted their target price on shares of Medtronic from $105.00 to $109.00 and gave the company an “overweight” rating in a research note on Tuesday, November 26th. Royal Bank of Canada upgraded shares of Medtronic from a “sector perform” rating to an “outperform” rating and lifted their target price for the company from $98.00 to $105.00 in a research note on Thursday, October 10th. Wells Fargo & Company cut their target price 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. Finally, Sanford C. Bernstein lifted their target price 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. One research analyst has rated the stock with a sell rating, nine have given a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, Medtronic currently has a consensus rating of “Hold” and a consensus target price of $95.00.

Insiders Place Their Bets

In other news, EVP Brett A. Wall sold 12,437 shares of the business’s stock in a transaction on Friday, January 24th. The shares were sold at an average price of $90.00, for a total value of $1,119,330.00. Following the completion of the transaction, the executive vice president now owns 40,979 shares of the company’s stock, valued at $3,688,110. The trade was a 23.28 % decrease in their position. The sale 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 Price Performance

MDT opened at $90.85 on Friday. The company has a fifty day moving average price of $84.69 and a two-hundred day moving average price of $86.28. 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 plc has a 52 week low of $75.96 and a 52 week high of $93.08. The firm has a market capitalization of $116.50 billion, a PE ratio of 27.78, a P/E/G ratio of 2.57 and a beta of 0.84.

Medtronic (NYSE:MDT) last released 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. Medtronic had a net margin of 13.00% and a return on equity of 13.79%. The firm had revenue of $8.40 billion during the quarter, compared to analyst estimates of $8.27 billion. During the same quarter in the previous year, the business earned $1.25 EPS. The business’s quarterly revenue was up 5.2% compared to the same quarter last year. As a group, analysts anticipate that Medtronic plc will post 5.45 earnings per share for the current year.

Medtronic Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, January 10th. Shareholders of record on Friday, December 27th were issued a dividend of $0.70 per share. This represents a $2.80 dividend on an annualized basis and a yield of 3.08%. The ex-dividend date was Friday, December 27th. Medtronic’s dividend payout ratio is presently 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.