Key Financial Inc Trims Stake in Medtronic plc (NYSE:MDT)

Key Financial Inc reduced its position in Medtronic plc (NYSE:MDT) by 25.9% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 694 shares of the medical technology company’s stock after selling 243 shares during the period. Key Financial Inc’s holdings in Medtronic were worth $55,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in MDT. Fortitude Family Office LLC acquired a new position in Medtronic in the 3rd quarter valued at about $27,000. Highline Wealth Partners LLC acquired a new position in Medtronic in the 3rd quarter valued at about $27,000. Darwin Wealth Management LLC acquired a new position in Medtronic in the 3rd quarter valued at about $27,000. Stephens Consulting LLC increased its position in Medtronic by 145.7% in the 4th quarter. Stephens Consulting LLC now owns 344 shares of the medical technology company’s stock valued at $27,000 after acquiring an additional 204 shares during the period. Finally, J. Stern & Co. LLP acquired a new position in Medtronic in the 3rd quarter valued at about $30,000. Institutional investors and hedge funds own 82.06% of the company’s stock.

Insider Activity at Medtronic

In related news, EVP Brett A. Wall sold 12,437 shares of the company’s stock in a transaction that occurred 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 sale, the executive vice president now owns 40,979 shares of the company’s stock, valued at approximately $3,688,110. This represents a 23.28 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.20% of the stock is owned by corporate insiders.

Medtronic Price Performance

Shares of NYSE:MDT opened at $86.05 on Wednesday. The business’s 50 day simple moving average is $85.74 and its 200-day simple moving average is $87.02. The firm has a market capitalization of $110.34 billion, a price-to-earnings ratio of 26.32, a price-to-earnings-growth ratio of 2.57 and a beta of 0.84. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.84 and a quick ratio of 1.39. Medtronic plc has a 12 month low of $75.96 and a 12 month high of $93.08.

Medtronic (NYSE:MDT) last announced its quarterly 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. Medtronic had a return on equity of 13.79% and a net margin of 13.00%. As a group, equities analysts forecast that Medtronic plc will post 5.45 earnings per share for the current fiscal year.

Medtronic Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, January 10th. Investors of record on Friday, December 27th were paid a $0.70 dividend. This represents a $2.80 dividend on an annualized basis and a yield of 3.25%. The ex-dividend date was Friday, December 27th. Medtronic’s payout ratio is currently 85.63%.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on MDT shares. Barclays boosted their price target on Medtronic from $105.00 to $109.00 and gave the company an “overweight” rating in a research report on Tuesday, November 26th. JPMorgan Chase & Co. dropped their target price on Medtronic from $99.00 to $96.00 and set a “neutral” rating on the stock in a research report on Friday, November 15th. Robert W. Baird dropped their target price on Medtronic from $96.00 to $93.00 and set a “neutral” rating on the stock in a research report on Wednesday, November 20th. Needham & Company LLC reiterated a “hold” rating on shares of Medtronic in a research report on Wednesday, February 12th. Finally, Sanford C. Bernstein boosted 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. One analyst has rated the stock with a sell rating, nine have issued a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently 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.