BTC Capital Management Inc. Trims Stock Holdings in Medtronic plc (NYSE:MDT)

BTC Capital Management Inc. lowered its position in Medtronic plc (NYSE:MDT) by 3.8% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 41,130 shares of the medical technology company’s stock after selling 1,631 shares during the period. BTC Capital Management Inc.’s holdings in Medtronic were worth $3,285,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. EP Wealth Advisors LLC lifted its stake in Medtronic by 47.2% in the 2nd quarter. EP Wealth Advisors LLC now owns 12,255 shares of the medical technology company’s stock worth $965,000 after purchasing an additional 3,931 shares in the last quarter. Sanctuary Advisors LLC purchased a new position in Medtronic during the second quarter worth $13,571,000. Healthcare of Ontario Pension Plan Trust Fund grew its holdings in Medtronic by 1,195.9% during the 2nd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 1,837,600 shares of the medical technology company’s stock valued at $144,637,000 after purchasing an additional 1,695,800 shares during the last quarter. Anchor Investment Management LLC grew its stake in shares of Medtronic by 30.7% during the second quarter. Anchor Investment Management LLC now owns 106,247 shares of the medical technology company’s stock valued at $8,363,000 after buying an additional 24,936 shares during the last quarter. Finally, Centaurus Financial Inc. grew its position in Medtronic by 34.8% in the 2nd quarter. Centaurus Financial Inc. now owns 6,250 shares of the medical technology company’s stock valued at $492,000 after acquiring an additional 1,613 shares during the last quarter. Hedge funds and other institutional investors own 82.06% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on MDT. Needham & Company LLC restated a “hold” rating on shares of Medtronic in a report on Monday, November 18th. Wells Fargo & Company lowered their target price on Medtronic from $106.00 to $98.00 and set an “overweight” rating for the company in a report on Wednesday, November 20th. Barclays boosted their price objective on shares of Medtronic from $105.00 to $109.00 and gave the stock an “overweight” rating in a research note on Tuesday, November 26th. 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. Finally, 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 report on Thursday, October 10th. One analyst has rated the stock with a sell rating, nine have assigned a hold rating, six have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $95.00.

Medtronic Price Performance

Medtronic stock opened at $92.01 on Friday. Medtronic plc has a 12 month low of $75.96 and a 12 month high of $93.08. The stock has a market capitalization of $117.98 billion, a PE ratio of 28.14, a price-to-earnings-growth ratio of 2.59 and a beta of 0.83. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.84 and a quick ratio of 1.39. The business has a 50 day simple moving average of $84.29 and a 200-day simple moving average of $85.91.

Medtronic (NYSE:MDT) last announced its quarterly earnings data on Tuesday, November 19th. The medical technology company reported $1.26 earnings per share for the quarter, topping analysts’ consensus estimates of $1.25 by $0.01. The firm had revenue of $8.40 billion for the quarter, compared to analyst estimates of $8.27 billion. Medtronic had a return on equity of 13.79% and a net margin of 13.00%. Medtronic’s quarterly revenue was up 5.2% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.25 earnings per share. Equities analysts predict that Medtronic plc will post 5.45 earnings per share for the current year.

Medtronic Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, January 10th. Investors 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 dividend payout ratio (DPR) is 85.63%.

Insider Buying and Selling

In other Medtronic news, EVP Brett A. Wall sold 12,437 shares of the business’s stock in a transaction on Friday, January 24th. The stock was sold at an average price of $90.00, for a total transaction of $1,119,330.00. Following the sale, the executive vice president now directly owns 40,979 shares in the company, valued at approximately $3,688,110. The trade was a 23.28 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.20% of the stock is owned by insiders.

Medtronic 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.