Sentry LLC Sells 1,358 Shares of Medtronic plc (NYSE:MDT)

Sentry LLC lowered its stake in shares of Medtronic plc (NYSE:MDT) by 10.0% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 12,246 shares of the medical technology company’s stock after selling 1,358 shares during the quarter. Sentry LLC’s holdings in Medtronic were worth $978,000 at the end of the most recent quarter.

Several other large investors have also modified their holdings of the company. Fortitude Family Office LLC acquired a new position in Medtronic during the 3rd quarter worth $27,000. Highline Wealth Partners LLC acquired a new position in shares of Medtronic during the 3rd quarter worth about $27,000. Darwin Wealth Management LLC bought a new stake in Medtronic during the 3rd quarter valued at approximately $27,000. J. Stern & Co. LLP acquired a new stake in Medtronic in the 3rd quarter valued at approximately $30,000. Finally, Kieckhefer Group LLC bought a new position in Medtronic in the 4th quarter worth approximately $40,000. 82.06% of the stock is owned by institutional investors.

Medtronic Price Performance

Shares of Medtronic stock opened at $91.51 on Thursday. The stock has a market capitalization of $117.34 billion, a price-to-earnings ratio of 27.98, a P/E/G ratio of 2.49 and a beta of 0.83. 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 plc has a 1-year low of $75.96 and a 1-year high of $93.08. The firm’s 50-day moving average price is $83.99 and its two-hundred day moving average price is $85.83.

Medtronic (NYSE:MDT) last released its quarterly earnings results on Tuesday, November 19th. The medical technology company reported $1.26 earnings per share for the quarter, beating analysts’ consensus estimates of $1.25 by $0.01. The firm had revenue of $8.40 billion during the quarter, compared to analysts’ expectations of $8.27 billion. Medtronic had a return on equity of 13.79% and a net margin of 13.00%. The business’s revenue was up 5.2% on a year-over-year basis. During the same period last year, the firm posted $1.25 EPS. On average, equities analysts predict that Medtronic plc will post 5.45 earnings per share for the current fiscal year.

Medtronic Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, January 10th. Shareholders of record on Friday, December 27th were issued a dividend of $0.70 per share. This represents a $2.80 dividend on an annualized basis and a yield of 3.06%. The ex-dividend date of this dividend was Friday, December 27th. Medtronic’s dividend payout ratio is currently 85.63%.

Insider Buying and Selling at Medtronic

In other Medtronic news, EVP Brett A. Wall sold 12,437 shares of the stock in a transaction on Friday, January 24th. The stock was sold at an average price of $90.00, for a total value of $1,119,330.00. Following the transaction, the executive vice president now directly owns 40,979 shares in the company, valued at approximately $3,688,110. This trade represents a 23.28 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 0.20% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on MDT. JPMorgan Chase & Co. reduced their price objective on Medtronic from $99.00 to $96.00 and set a “neutral” rating for the company in a research report on Friday, November 15th. Robert W. Baird reduced their price target 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 boosted their price objective on shares of Medtronic from $105.00 to $109.00 and gave the stock an “overweight” rating in a report on Tuesday, November 26th. Sanford C. Bernstein lifted their target price on Medtronic from $96.00 to $97.00 and gave the stock an “outperform” rating in a research report on Wednesday, November 20th. Finally, Royal Bank of Canada raised Medtronic from a “sector perform” rating to an “outperform” rating and lifted their price objective for the stock from $98.00 to $105.00 in a report on Thursday, October 10th. One investment analyst has rated the stock with a sell rating, nine have given a hold rating, six have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus target price 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.