HMS Capital Management LLC Has $889,000 Stock Holdings in Medtronic plc (NYSE:MDT)

HMS Capital Management LLC lowered its position in Medtronic plc (NYSE:MDT) by 7.0% in the fourth quarter, Holdings Channel.com reports. The institutional investor owned 11,130 shares of the medical technology company’s stock after selling 833 shares during the period. HMS Capital Management LLC’s holdings in Medtronic were worth $889,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in MDT. CX Institutional lifted its stake in Medtronic by 9.1% in the 3rd quarter. CX Institutional now owns 7,290 shares of the medical technology company’s stock valued at $656,000 after purchasing an additional 608 shares during the last quarter. Lynch & Associates IN increased its holdings in shares of Medtronic by 15.8% during the third quarter. Lynch & Associates IN now owns 7,324 shares of the medical technology company’s stock worth $659,000 after purchasing an additional 1,000 shares during the period. Roberts Wealth Advisors LLC raised its position in Medtronic by 1.7% during the third quarter. Roberts Wealth Advisors LLC now owns 50,015 shares of the medical technology company’s stock valued at $4,408,000 after purchasing an additional 850 shares in the last quarter. Nexus Investment Management ULC raised its position in Medtronic by 0.5% during the third quarter. Nexus Investment Management ULC now owns 217,424 shares of the medical technology company’s stock valued at $19,575,000 after purchasing an additional 1,050 shares in the last quarter. Finally, Sumitomo Life Insurance Co. raised its position in Medtronic by 2.5% during the third quarter. Sumitomo Life Insurance Co. now owns 18,808 shares of the medical technology company’s stock valued at $1,693,000 after purchasing an additional 458 shares in the last quarter. Institutional investors own 82.06% of the company’s stock.

Analyst Ratings Changes

Several analysts recently weighed in on MDT shares. 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. Robert W. Baird cut their price objective on shares of Medtronic from $96.00 to $93.00 and set a “neutral” rating on the stock in a research report on Wednesday, November 20th. Wells Fargo & Company cut their price objective on shares of Medtronic from $106.00 to $98.00 and set an “overweight” rating on the stock in a research report on Wednesday, November 20th. Needham & Company LLC reissued a “hold” rating on shares of Medtronic in a research report on Wednesday. Finally, JPMorgan Chase & Co. lowered their target price on shares of Medtronic from $99.00 to $96.00 and set a “neutral” rating on the stock in a report on Friday, November 15th. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, Medtronic presently has an average rating of “Hold” and an average target price of $95.00.

Insider Activity

In other news, EVP Brett A. Wall sold 12,437 shares of the firm’s stock in a transaction 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 sale, the executive vice president now owns 40,979 shares in the company, valued at approximately $3,688,110. This trade represents a 23.28 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Corporate insiders own 0.20% of the company’s stock.

Medtronic Stock Up 0.2 %

MDT opened at $91.35 on Thursday. The company has a 50 day moving average of $85.04 and a 200 day moving average of $86.65. The company has a market cap of $117.14 billion, a PE ratio of 27.94, a price-to-earnings-growth ratio of 2.57 and a beta of 0.84. Medtronic plc has a 12 month low of $75.96 and a 12 month high of $93.08. The company has a current ratio of 1.84, a quick ratio of 1.39 and a debt-to-equity ratio of 0.51.

Medtronic (NYSE:MDT) last announced 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 firm had revenue of $8.40 billion during the quarter, compared to the consensus estimate of $8.27 billion. During the same period last year, the firm earned $1.25 EPS. The business’s quarterly revenue was up 5.2% compared to the same quarter last year. On average, sell-side analysts expect that Medtronic plc will post 5.45 EPS for the current year.

Medtronic Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, January 10th. Shareholders of record on Friday, December 27th were issued a $0.70 dividend. This represents a $2.80 annualized dividend and a yield of 3.07%. The ex-dividend date was Friday, December 27th. Medtronic’s payout ratio is 85.63%.

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.