Hemenway Trust Co LLC Has $3.19 Million Holdings in Medtronic plc (NYSE:MDT)

Hemenway Trust Co LLC trimmed its holdings in Medtronic plc (NYSE:MDT) by 71.9% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 39,926 shares of the medical technology company’s stock after selling 102,173 shares during the period. Hemenway Trust Co LLC’s holdings in Medtronic were worth $3,189,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Mainstream Capital Management LLC bought a new position in Medtronic during the fourth quarter worth $26,000. Rakuten Securities Inc. lifted its stake in shares of Medtronic by 753.8% during the 4th quarter. Rakuten Securities Inc. now owns 333 shares of the medical technology company’s stock worth $27,000 after buying an additional 294 shares during the last quarter. Stephens Consulting LLC boosted its holdings in shares of Medtronic by 145.7% during the 4th quarter. Stephens Consulting LLC now owns 344 shares of the medical technology company’s stock worth $27,000 after buying an additional 204 shares during the period. Fiduciary Advisors Inc. acquired a new position in Medtronic in the 4th quarter valued at about $36,000. Finally, Chelsea Counsel Co. bought a new position in Medtronic in the 3rd quarter valued at about $45,000. 82.06% of the stock is currently owned by institutional investors.

Insider Activity

In other Medtronic news, EVP Brett A. Wall sold 9,850 shares of the company’s stock in a transaction dated Wednesday, January 8th. The stock was sold at an average price of $80.41, for a total value of $792,038.50. Following the completion of the transaction, the executive vice president now owns 40,708 shares of the company’s stock, valued at $3,273,330.28. This represents a 19.48 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.20% of the stock is owned by corporate insiders.

Medtronic Price Performance

Medtronic stock opened at $82.86 on Friday. The company has a debt-to-equity ratio of 0.48, a quick ratio of 1.39 and a current ratio of 1.90. Medtronic plc has a 52 week low of $75.96 and a 52 week high of $96.25. The stock has a market capitalization of $106.28 billion, a P/E ratio of 25.19, a price-to-earnings-growth ratio of 2.22 and a beta of 0.80. The stock has a fifty day moving average of $90.87 and a 200-day moving average of $87.94.

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

Medtronic Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, April 11th. Stockholders of record on Friday, March 28th will be issued a dividend of $0.70 per share. The ex-dividend date is Friday, March 28th. This represents a $2.80 annualized dividend and a dividend yield of 3.38%. Medtronic’s dividend payout ratio (DPR) is presently 85.11%.

Analysts Set New Price Targets

Several equities analysts have recently commented on the company. Robert W. Baird upped their target price on Medtronic from $90.00 to $91.00 and gave the company a “neutral” rating in a research report on Wednesday, February 19th. UBS Group upped their price objective on Medtronic from $85.00 to $95.00 and gave the company a “neutral” rating in a report on Wednesday, February 19th. Citigroup raised Medtronic from a “neutral” rating to a “buy” rating and lifted their target price for the stock from $92.00 to $107.00 in a report on Tuesday, March 4th. Needham & Company LLC restated a “hold” rating on shares of Medtronic in a research note on Wednesday, February 19th. Finally, Royal Bank of Canada reiterated an “outperform” rating and issued a $105.00 price objective on shares of Medtronic in a research note on Wednesday, February 19th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $96.07.

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.