Medtronic plc (NYSE:MDT) Shares Sold by Atomi Financial Group Inc.

Atomi Financial Group Inc. cut its position in Medtronic plc (NYSE:MDT) by 12.4% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 10,508 shares of the medical technology company’s stock after selling 1,481 shares during the quarter. Atomi Financial Group Inc.’s holdings in Medtronic were worth $839,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. AE Wealth Management LLC raised its position in Medtronic by 24.7% in the 2nd quarter. AE Wealth Management LLC now owns 9,578 shares of the medical technology company’s stock valued at $754,000 after purchasing an additional 1,896 shares during the last quarter. Public Sector Pension Investment Board boosted its stake in shares of Medtronic by 68.1% during the second quarter. Public Sector Pension Investment Board now owns 51,014 shares of the medical technology company’s stock worth $4,015,000 after buying an additional 20,660 shares during the period. Evergreen Capital Management LLC grew its holdings in shares of Medtronic by 17.9% during the second quarter. Evergreen Capital Management LLC now owns 11,422 shares of the medical technology company’s stock worth $907,000 after buying an additional 1,736 shares during the last quarter. Marshall Wace LLP increased its position in Medtronic by 1,192.9% in the 2nd quarter. Marshall Wace LLP now owns 267,936 shares of the medical technology company’s stock valued at $21,089,000 after acquiring an additional 247,213 shares during the period. Finally, BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp raised its stake in Medtronic by 59.7% during the 2nd quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 254,337 shares of the medical technology company’s stock valued at $20,019,000 after acquiring an additional 95,051 shares during the last quarter. Hedge funds and other institutional investors own 82.06% of the company’s stock.

Medtronic Price Performance

Shares of NYSE MDT opened at $87.84 on Thursday. The company has a current ratio of 1.84, a quick ratio of 1.39 and a debt-to-equity ratio of 0.51. The stock has a market cap of $112.64 billion, a price-to-earnings ratio of 26.86, a PEG ratio of 2.49 and a beta of 0.83. The company’s 50-day moving average price is $83.64 and its 200 day moving average price is $85.37. Medtronic plc has a 52 week low of $75.96 and a 52 week high of $92.68.

Medtronic (NYSE:MDT) last released its quarterly earnings results on Tuesday, November 19th. The medical technology company reported $1.26 EPS for the quarter, beating the consensus estimate of $1.25 by $0.01. Medtronic had a net margin of 13.00% and a return on equity of 13.79%. The business had revenue of $8.40 billion for the quarter, compared to analyst estimates of $8.27 billion. During the same period in the prior year, the business earned $1.25 earnings per share. The company’s quarterly revenue was up 5.2% on a year-over-year basis. As a group, research analysts forecast that Medtronic plc will post 5.45 earnings per share for the current fiscal year.

Medtronic Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, January 10th. Stockholders of record on Friday, December 27th were given a $0.70 dividend. The ex-dividend date was Friday, December 27th. This represents a $2.80 annualized dividend and a dividend yield of 3.19%. Medtronic’s dividend payout ratio is currently 85.63%.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on MDT shares. Wells Fargo & Company lowered their target price on Medtronic from $106.00 to $98.00 and set an “overweight” rating on the stock in a research note on Wednesday, November 20th. Royal Bank of Canada raised shares of Medtronic from a “sector perform” rating to an “outperform” rating and boosted their price objective for the company from $98.00 to $105.00 in a research note on Thursday, October 10th. Barclays upped their price objective on shares of Medtronic from $105.00 to $109.00 and gave the stock an “overweight” rating in a research report on Tuesday, November 26th. Citigroup boosted their price target on shares of Medtronic from $85.00 to $92.00 and gave the stock a “neutral” rating in a research note on Tuesday, October 1st. Finally, Robert W. Baird reduced their price objective on shares of Medtronic from $96.00 to $93.00 and set a “neutral” rating for the company in a research report on Wednesday, November 20th. One analyst has rated the stock with a sell rating, nine have given a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, Medtronic presently has an average rating of “Hold” and an average target price of $95.00.

Insider Activity at Medtronic

In other Medtronic news, EVP Brett A. Wall sold 9,850 shares of the company’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 approximately $3,273,330.28. This represents a 19.48 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 0.20% of the company’s stock.

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.