Medtronic plc (NYSE:MDT) Shares Sold by Berkeley Capital Partners LLC

Berkeley Capital Partners LLC cut its holdings in Medtronic plc (NYSE:MDT) by 34.9% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 19,196 shares of the medical technology company’s stock after selling 10,271 shares during the quarter. Berkeley Capital Partners LLC’s holdings in Medtronic were worth $1,533,000 as of its most recent filing with the SEC.

Other institutional investors also recently bought and sold shares of the company. Caprock Group LLC boosted its holdings in shares of Medtronic by 24.6% in the third quarter. Caprock Group LLC now owns 42,404 shares of the medical technology company’s stock valued at $3,847,000 after acquiring an additional 8,364 shares in the last quarter. OneAscent Financial Services LLC boosted its holdings in shares of Medtronic by 15.4% in the third quarter. OneAscent Financial Services LLC now owns 3,070 shares of the medical technology company’s stock valued at $279,000 after acquiring an additional 410 shares in the last quarter. PNC Financial Services Group Inc. boosted its holdings in shares of Medtronic by 9.8% in the third quarter. PNC Financial Services Group Inc. now owns 574,483 shares of the medical technology company’s stock valued at $51,721,000 after acquiring an additional 51,346 shares in the last quarter. West Family Investments Inc. purchased a new stake in shares of Medtronic in the third quarter valued at about $343,000. Finally, Prospera Private Wealth LLC purchased a new stake in shares of Medtronic in the third quarter valued at about $7,874,000. 82.06% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, EVP Brett A. Wall sold 12,437 shares of the business’s stock in a transaction that occurred on Friday, January 24th. The shares were sold at an average price of $90.00, for a total value of $1,119,330.00. Following the completion of the transaction, the executive vice president now owns 40,979 shares of the company’s stock, valued at $3,688,110. The trade was a 23.28 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Company insiders own 0.20% of the company’s stock.

Medtronic Stock Down 0.5 %

Shares of NYSE MDT opened at $91.78 on Thursday. Medtronic plc has a 12-month low of $75.96 and a 12-month high of $96.25. The company has a market capitalization of $117.71 billion, a PE ratio of 27.90, a price-to-earnings-growth ratio of 2.22 and a beta of 0.80. The company has a debt-to-equity ratio of 0.48, a current ratio of 1.90 and a quick ratio of 1.39. The firm’s 50-day moving average is $90.30 and its two-hundred day moving average is $88.04.

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

Medtronic Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, April 11th. Stockholders of record on Friday, March 28th will be given a $0.70 dividend. This represents a $2.80 dividend on an annualized basis and a dividend yield of 3.05%. The ex-dividend date of this dividend is Friday, March 28th. Medtronic’s dividend payout ratio is presently 85.11%.

Analyst Ratings Changes

Several brokerages have recently weighed in on MDT. Needham & Company LLC reaffirmed a “hold” rating on shares of Medtronic in a report on Wednesday, February 19th. Robert W. Baird lifted their target price on shares of Medtronic from $90.00 to $91.00 and gave the company a “neutral” rating in a report on Wednesday, February 19th. UBS Group boosted their price objective on shares of Medtronic from $85.00 to $95.00 and gave the stock a “neutral” rating in a report on Wednesday, February 19th. Royal Bank of Canada reissued an “outperform” rating and set a $105.00 price objective on shares of Medtronic in a report on Wednesday, February 19th. Finally, Wells Fargo & Company decreased their price objective on shares of Medtronic from $106.00 to $98.00 and set an “overweight” rating on the stock in a report on Wednesday, November 20th. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating, six have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $96.07.

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.