Stack Financial Management Inc Sells 2,419 Shares of Medtronic plc (NYSE:MDT)

Stack Financial Management Inc reduced its stake in shares of Medtronic plc (NYSE:MDT) by 1.3% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 183,792 shares of the medical technology company’s stock after selling 2,419 shares during the quarter. Stack Financial Management Inc’s holdings in Medtronic were worth $14,681,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently modified their holdings of the company. Fortitude Family Office LLC purchased a new position in Medtronic during the third quarter valued at $27,000. Highline Wealth Partners LLC purchased a new stake in Medtronic in the 3rd quarter worth $27,000. Darwin Wealth Management LLC bought a new position in shares of Medtronic during the 3rd quarter valued at about $27,000. Stephens Consulting LLC grew its position in shares of Medtronic by 145.7% during the fourth quarter. Stephens Consulting LLC now owns 344 shares of the medical technology company’s stock valued at $27,000 after purchasing an additional 204 shares in the last quarter. Finally, J. Stern & Co. LLP bought a new stake in shares of Medtronic in the third quarter worth about $30,000. Institutional investors own 82.06% of the company’s stock.

Medtronic Price Performance

MDT opened at $90.27 on Tuesday. The company has a quick ratio of 1.39, a current ratio of 1.90 and a debt-to-equity ratio of 0.48. The business has a fifty day moving average of $86.26 and a 200 day moving average of $87.24. Medtronic plc has a 52-week low of $75.96 and a 52-week high of $93.08. The stock has a market cap of $115.76 billion, a P/E ratio of 27.44, a PEG ratio of 2.22 and a beta of 0.84.

Medtronic (NYSE:MDT) last posted its quarterly earnings results on Tuesday, February 18th. The medical technology company reported $1.39 EPS for the quarter, topping analysts’ consensus estimates of $1.36 by $0.03. The firm had revenue of $8.29 billion for the quarter, compared to analysts’ expectations of $8.33 billion. Medtronic had a net margin of 12.83% and a return on equity of 14.07%. As a group, sell-side analysts anticipate that Medtronic plc will post 5.46 EPS for the current year.

Medtronic Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, January 10th. Stockholders of record on Friday, December 27th were paid a dividend of $0.70 per share. This represents a $2.80 annualized dividend and a dividend yield of 3.10%. The ex-dividend date of this dividend was Friday, December 27th. Medtronic’s dividend payout ratio is presently 85.11%.

Wall Street Analyst Weigh In

A number of analysts have issued reports on MDT shares. Robert W. Baird lifted their price objective on Medtronic from $90.00 to $91.00 and gave the stock a “neutral” rating in a research note on Wednesday, February 19th. Royal Bank of Canada restated an “outperform” rating and issued a $105.00 price target on shares of Medtronic in a research report on Wednesday, February 19th. JPMorgan Chase & Co. lowered their price objective on shares of Medtronic from $99.00 to $96.00 and set a “neutral” rating for the company in a research report on Friday, November 15th. Needham & Company LLC restated a “hold” rating on shares of Medtronic in a report on Wednesday, February 19th. Finally, Barclays increased their price target on shares of Medtronic from $105.00 to $109.00 and gave the company an “overweight” rating in a report on Tuesday, November 26th. One equities research 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 company’s stock. According to data from MarketBeat.com, Medtronic presently has an average rating of “Hold” and an average price target of $95.00.

Insider Activity at Medtronic

In other news, EVP Brett A. Wall sold 12,437 shares of the firm’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 transaction, 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 ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. 0.20% of the stock is owned by company insiders.

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.