Medtronic plc (NYSE:MDT) Shares Sold by Allied Investment Advisors LLC

Allied Investment Advisors LLC cut its holdings in shares of Medtronic plc (NYSE:MDT) by 0.4% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 106,410 shares of the medical technology company’s stock after selling 452 shares during the period. Allied Investment Advisors LLC’s holdings in Medtronic were worth $8,500,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of the business. OLD National Bancorp IN grew its stake in Medtronic by 12.7% during the 3rd quarter. OLD National Bancorp IN now owns 10,938 shares of the medical technology company’s stock valued at $985,000 after purchasing an additional 1,230 shares in the last quarter. Trilogy Capital Inc. boosted its stake in shares of Medtronic by 4.9% during the 3rd quarter. Trilogy Capital Inc. now owns 4,082 shares of the medical technology company’s stock valued at $368,000 after buying an additional 192 shares during the last quarter. Waterway Wealth Management LLC grew its position in shares of Medtronic by 62.8% during the third quarter. Waterway Wealth Management LLC now owns 4,493 shares of the medical technology company’s stock worth $404,000 after buying an additional 1,734 shares in the last quarter. Precision Wealth Strategies LLC grew its position in shares of Medtronic by 3.3% during the third quarter. Precision Wealth Strategies LLC now owns 3,741 shares of the medical technology company’s stock worth $337,000 after buying an additional 118 shares in the last quarter. Finally, Telos Capital Management Inc. increased its stake in shares of Medtronic by 2.0% in the third quarter. Telos Capital Management Inc. now owns 123,358 shares of the medical technology company’s stock worth $11,106,000 after buying an additional 2,402 shares during the last quarter. 82.06% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, EVP Brett A. Wall sold 12,437 shares of the firm’s stock in a transaction that occurred on Friday, January 24th. The shares were sold at an average price of $90.00, for a total transaction of $1,119,330.00. Following the completion of the sale, the executive vice president now directly owns 40,979 shares in the company, valued at approximately $3,688,110. This trade represents a 23.28 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 0.20% of the stock is owned by company insiders.

Analyst Ratings Changes

Several brokerages have weighed in on MDT. Needham & Company LLC reissued a “hold” rating on shares of Medtronic in a report on Wednesday, February 12th. Sanford C. Bernstein increased their price target 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. Barclays boosted their price objective on Medtronic from $105.00 to $109.00 and gave the company an “overweight” rating in a report on Tuesday, November 26th. Wells Fargo & Company reduced their target price on Medtronic from $106.00 to $98.00 and set an “overweight” rating on the stock in a report on Wednesday, November 20th. Finally, JPMorgan Chase & Co. lowered their price target 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 given a hold rating, six have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, Medtronic currently has an average rating of “Hold” and an average price target of $95.00.

Medtronic Trading Down 7.3 %

Shares of NYSE:MDT opened at $86.05 on Wednesday. The company’s 50-day moving average price is $85.74 and its 200 day moving average price is $87.02. The company has a quick ratio of 1.39, a current ratio of 1.84 and a debt-to-equity ratio of 0.51. The company has a market cap of $110.34 billion, a PE ratio of 26.32, a P/E/G ratio of 2.63 and a beta of 0.84. Medtronic plc has a fifty-two week low of $75.96 and a fifty-two week high of $93.08.

Medtronic (NYSE:MDT) last released its earnings results on Tuesday, February 18th. The medical technology company reported $1.39 earnings per share for the quarter, topping analysts’ consensus estimates of $1.36 by $0.03. Medtronic had a return on equity of 13.79% and a net margin of 13.00%. Sell-side analysts anticipate that Medtronic plc will post 5.45 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 issued a dividend of $0.70 per share. This represents a $2.80 dividend on an annualized basis and a yield of 3.25%. The ex-dividend date was Friday, December 27th. Medtronic’s payout ratio is currently 85.63%.

About Medtronic

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.