Hudson Valley Investment Advisors Inc. ADV Sells 912 Shares of Medtronic plc (NYSE:MDT)

Hudson Valley Investment Advisors Inc. ADV lessened its stake in shares of Medtronic plc (NYSE:MDT) by 0.9% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 103,425 shares of the medical technology company’s stock after selling 912 shares during the quarter. Hudson Valley Investment Advisors Inc. ADV’s holdings in Medtronic were worth $8,262,000 as of its most recent SEC filing.

A number of other large investors have also recently made changes to their positions in MDT. Acadian Asset Management LLC boosted its stake in shares of Medtronic by 1,240.9% in the 2nd quarter. Acadian Asset Management LLC now owns 38,484 shares of the medical technology company’s stock worth $3,027,000 after buying an additional 35,614 shares during the last quarter. Prudential PLC grew its stake in shares of Medtronic by 17.6% during the 2nd quarter. Prudential PLC now owns 22,322 shares of the medical technology company’s stock valued at $1,757,000 after purchasing an additional 3,335 shares during the period. Perritt Capital Management Inc grew its stake in shares of Medtronic by 6.5% during the 2nd quarter. Perritt Capital Management Inc now owns 2,824 shares of the medical technology company’s stock valued at $222,000 after purchasing an additional 172 shares during the period. Qsemble Capital Management LP purchased a new stake in shares of Medtronic during the 2nd quarter valued at about $3,586,000. Finally, Y.D. More Investments Ltd boosted its holdings in shares of Medtronic by 1,472.0% in the second quarter. Y.D. More Investments Ltd now owns 1,179 shares of the medical technology company’s stock worth $93,000 after buying an additional 1,104 shares during the last quarter. 82.06% of the stock is currently owned by institutional investors.

Medtronic Price Performance

Shares of NYSE:MDT opened at $82.73 on Friday. The firm has a market cap of $106.08 billion, a price-to-earnings ratio of 25.30, a P/E/G ratio of 2.33 and a beta of 0.83. The firm has a fifty day moving average price of $84.17 and a 200 day moving average price of $84.89. Medtronic plc has a fifty-two week low of $75.96 and a fifty-two week high of $92.68. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.39 and a current ratio of 1.84.

Medtronic (NYSE:MDT) last released its quarterly earnings data 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 during the quarter, compared to the consensus estimate of $8.27 billion. During the same quarter in the prior year, the firm earned $1.25 EPS. The business’s revenue was up 5.2% on a year-over-year basis. As a group, sell-side analysts expect that Medtronic plc will post 5.45 earnings per share for the current fiscal year.

Medtronic Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, January 10th. Stockholders of record on Friday, December 27th will be issued a dividend of $0.70 per share. The ex-dividend date is Friday, December 27th. This represents a $2.80 annualized dividend and a dividend yield of 3.38%. Medtronic’s dividend payout ratio (DPR) is 85.63%.

Analyst Ratings Changes

A number of analysts have commented on MDT shares. Robert W. Baird reduced their target price on shares of Medtronic from $96.00 to $93.00 and set a “neutral” rating for the company in a report on Wednesday, November 20th. Barclays upped their price objective on Medtronic from $105.00 to $109.00 and gave the stock an “overweight” rating in a research note on Tuesday, November 26th. Sanford C. Bernstein lifted their target price on Medtronic from $96.00 to $97.00 and gave the company an “outperform” rating in a research report on Wednesday, November 20th. JPMorgan Chase & Co. reduced their price target on Medtronic from $99.00 to $96.00 and set a “neutral” rating for the company in a research report on Friday, November 15th. Finally, Needham & Company LLC reaffirmed a “hold” rating on shares of Medtronic in a research report on Monday, November 18th. One analyst has rated the stock with a sell rating, nine have assigned a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $95.00.

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.