Medtronic plc (NYSE:MDT) Shares Sold by Xcel Wealth Management LLC

Xcel Wealth Management LLC cut its stake in shares of Medtronic plc (NYSE:MDT) by 1.3% in the fourth quarter, according to its most recent disclosure with the SEC. The firm owned 11,276 shares of the medical technology company’s stock after selling 150 shares during the period. Xcel Wealth Management LLC’s holdings in Medtronic were worth $901,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of MDT. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in shares of Medtronic by 436.7% in the third 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 valued at $661,125,000 after buying an additional 5,975,110 shares during the last quarter. Van ECK Associates Corp raised its position in shares of Medtronic by 2,043.4% in the fourth quarter. Van ECK Associates Corp now owns 2,598,150 shares of the medical technology company’s stock valued at $207,540,000 after buying an additional 2,476,935 shares during the last quarter. Bank of Montreal Can raised its position in shares of Medtronic by 65.0% in the third quarter. Bank of Montreal Can now owns 4,546,819 shares of the medical technology company’s stock valued at $406,122,000 after buying an additional 1,790,483 shares during the last quarter. Janus Henderson Group PLC raised its position in shares of Medtronic by 58.4% in the third quarter. Janus Henderson Group PLC now owns 3,850,914 shares of the medical technology company’s stock valued at $346,705,000 after buying an additional 1,420,263 shares during the last quarter. Finally, Worldquant Millennium Advisors LLC raised its position in shares of Medtronic by 5,124.5% in the third quarter. Worldquant Millennium Advisors LLC now owns 1,035,708 shares of the medical technology company’s stock valued at $93,245,000 after buying an additional 1,015,884 shares during the last quarter. 82.06% of the stock is currently owned by institutional investors and hedge funds.

Medtronic Trading Up 1.4 %

Shares of MDT stock opened at $92.00 on Friday. The company has a 50-day moving average of $87.08 and a two-hundred day moving average of $87.42. The company has a debt-to-equity ratio of 0.48, a current ratio of 1.90 and a quick ratio of 1.39. Medtronic plc has a 1-year low of $75.96 and a 1-year high of $93.08. The firm has a market cap of $117.97 billion, a PE ratio of 27.96, a price-to-earnings-growth ratio of 2.22 and a beta of 0.84.

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

Medtronic Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, January 10th. Stockholders of record on Friday, December 27th were paid a $0.70 dividend. This represents a $2.80 annualized dividend and a dividend yield of 3.04%. The ex-dividend date was Friday, December 27th. Medtronic’s payout ratio is 85.11%.

Insider Activity

In other 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 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 approximately $3,688,110. This trade represents a 23.28 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders own 0.20% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on MDT. Sanford C. Bernstein increased their target price on shares of Medtronic from $96.00 to $97.00 and gave the company an “outperform” rating in a research report on Wednesday, November 20th. Royal Bank of Canada reissued an “outperform” rating and issued a $105.00 price objective on shares of Medtronic in a report on Wednesday, February 19th. Robert W. Baird upped their price objective on shares of Medtronic from $90.00 to $91.00 and gave the company a “neutral” rating in a report on Wednesday, February 19th. UBS Group upped their price objective on shares of Medtronic from $85.00 to $95.00 and gave the company a “neutral” rating in a report on Wednesday, February 19th. Finally, Needham & Company LLC reissued a “hold” rating on shares of Medtronic in a report on Wednesday, February 19th. One analyst has rated the stock with a sell rating, nine have given a hold rating, five have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $95.00.

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.