Blake Schutter Theil Wealth Advisors LLC Cuts Holdings in Medtronic plc (NYSE:MDT)

Blake Schutter Theil Wealth Advisors LLC lowered its holdings in shares of Medtronic plc (NYSE:MDT) by 37.0% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 4,898 shares of the medical technology company’s stock after selling 2,878 shares during the quarter. Blake Schutter Theil Wealth Advisors LLC’s holdings in Medtronic were worth $391,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in MDT. Darwin Wealth Management LLC bought a new stake in Medtronic in the third quarter worth about $27,000. Mainstream Capital Management LLC purchased a new stake in shares of Medtronic in the fourth quarter worth approximately $26,000. J. Stern & Co. LLP bought a new stake in shares of Medtronic during the 3rd quarter worth approximately $30,000. Stephens Consulting LLC boosted its holdings in Medtronic by 145.7% during the 4th quarter. Stephens Consulting LLC now owns 344 shares of the medical technology company’s stock valued at $27,000 after acquiring an additional 204 shares during the period. Finally, Fiduciary Advisors Inc. purchased a new position in Medtronic during the 4th quarter valued at $36,000. Hedge funds and other institutional investors own 82.06% of the company’s stock.

Insider Transactions at Medtronic

In related 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 sale, the executive vice president now owns 40,979 shares of the company’s stock, valued at approximately $3,688,110. The trade was a 23.28 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 0.20% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on MDT. Needham & Company LLC restated a “hold” rating on shares of Medtronic in a report on Wednesday, February 19th. Barclays boosted their price objective 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. JPMorgan Chase & Co. reduced their target price on shares of Medtronic from $99.00 to $96.00 and set a “neutral” rating on the stock in a research report on Friday, November 15th. Robert W. Baird boosted their price target on Medtronic from $90.00 to $91.00 and gave the company a “neutral” rating in a report on Wednesday, February 19th. Finally, Royal Bank of Canada reissued an “outperform” rating and issued a $105.00 price objective on shares of Medtronic in a research note on Wednesday, February 19th. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating, six have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $96.07.

Medtronic Price Performance

NYSE MDT opened at $94.58 on Friday. The firm’s fifty day simple moving average is $88.33 and its two-hundred day simple moving average is $87.80. The firm has a market capitalization of $121.30 billion, a P/E ratio of 28.75, a P/E/G ratio of 2.22 and a beta of 0.80. The company has a current ratio of 1.90, a quick ratio of 1.39 and a debt-to-equity ratio of 0.48. Medtronic plc has a 12-month low of $75.96 and a 12-month high of $95.57.

Medtronic (NYSE:MDT) last issued its quarterly earnings results on Tuesday, February 18th. The medical technology company reported $1.39 earnings per share for the quarter, topping the consensus estimate of $1.36 by $0.03. The business had revenue of $8.29 billion during the quarter, compared to the consensus estimate of $8.33 billion. Medtronic had a return on equity of 14.07% and a net margin of 12.83%. Analysts forecast that Medtronic plc will post 5.46 EPS for the current fiscal year.

Medtronic Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, April 11th. Investors of record on Friday, March 28th will be given a dividend of $0.70 per share. The ex-dividend date is Friday, March 28th. This represents a $2.80 dividend on an annualized basis and a yield of 2.96%. Medtronic’s dividend payout ratio is presently 85.11%.

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.