Medtronic plc (NYSE:MDT) Position Decreased by Metis Global Partners LLC

Metis Global Partners LLC decreased its holdings in shares of Medtronic plc (NYSE:MDT) by 20.6% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 43,049 shares of the medical technology company’s stock after selling 11,189 shares during the period. Metis Global Partners LLC’s holdings in Medtronic were worth $3,439,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently made changes to their positions in the business. Fisher Asset Management LLC boosted its position in shares of Medtronic by 3.1% during the 4th quarter. Fisher Asset Management LLC now owns 6,073,565 shares of the medical technology company’s stock valued at $485,156,000 after purchasing an additional 179,845 shares in the last quarter. Noesis Capital Mangement Corp boosted its position in shares of Medtronic by 2.6% during the 4th quarter. Noesis Capital Mangement Corp now owns 103,919 shares of the medical technology company’s stock valued at $8,301,000 after purchasing an additional 2,653 shares in the last quarter. Sage Investment Counsel LLC purchased a new stake in Medtronic during the fourth quarter valued at about $444,000. SVB Wealth LLC purchased a new stake in Medtronic during the fourth quarter valued at about $9,840,000. Finally, Waterway Wealth Management LLC lifted its stake in Medtronic by 21.5% during the fourth quarter. Waterway Wealth Management LLC now owns 5,459 shares of the medical technology company’s stock valued at $436,000 after buying an additional 966 shares in the last quarter. Institutional investors own 82.06% of the company’s stock.

Insider Activity at Medtronic

In other Medtronic news, EVP Brett A. Wall sold 12,437 shares of the stock in a transaction that occurred 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 $3,688,110. This trade represents a 23.28 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Insiders own 0.20% of the company’s stock.

Medtronic Price Performance

NYSE MDT opened at $92.00 on Friday. The firm has a market capitalization of $117.97 billion, a price-to-earnings ratio of 27.96, a price-to-earnings-growth ratio of 2.22 and a beta of 0.84. The company has a 50 day simple moving average of $87.08 and a 200-day simple moving average of $87.46. The company has a debt-to-equity ratio of 0.48, a current ratio of 1.90 and a quick ratio of 1.39. Medtronic plc has a 52-week low of $75.96 and a 52-week high of $93.08.

Medtronic (NYSE:MDT) last issued its quarterly earnings data on Tuesday, February 18th. The medical technology company reported $1.39 earnings per share for the quarter, beating the consensus estimate of $1.36 by $0.03. The firm had revenue of $8.29 billion for the quarter, compared to analyst estimates of $8.33 billion. Medtronic had a net margin of 12.83% and a return on equity of 14.07%. Equities research analysts predict that Medtronic plc will post 5.46 earnings per share for the current fiscal year.

Medtronic Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, January 10th. Investors of record on Friday, December 27th were given a dividend of $0.70 per share. This represents a $2.80 annualized dividend and a yield of 3.04%. The ex-dividend date of this dividend was Friday, December 27th. Medtronic’s payout ratio is presently 85.11%.

Analyst Ratings Changes

A number of research firms have commented on MDT. JPMorgan Chase & Co. reduced their price objective on shares of Medtronic from $99.00 to $96.00 and set a “neutral” rating for the company in a research note on Friday, November 15th. UBS Group upped their price objective on shares of Medtronic from $85.00 to $95.00 and gave the company a “neutral” rating in a research note on Wednesday, February 19th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $105.00 price objective on shares of Medtronic in a research note on Wednesday, February 19th. Wells Fargo & Company reduced their price objective on shares of Medtronic from $106.00 to $98.00 and set an “overweight” rating for the company in a research note on Wednesday, November 20th. Finally, Barclays upped their price objective on shares of Medtronic from $105.00 to $109.00 and gave the company an “overweight” rating in a research note on Tuesday, November 26th. One analyst has rated the stock with a sell rating, nine have issued a hold rating, five have issued a buy rating and one has assigned 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.

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.