Medtronic PLC $MDT Shares Sold by Resona Asset Management Co. Ltd.

Resona Asset Management Co. Ltd. cut its position in Medtronic PLC (NYSE:MDT) by 5.6% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 335,203 shares of the medical technology company’s stock after selling 19,957 shares during the period. Resona Asset Management Co. Ltd.’s holdings in Medtronic were worth $32,200,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of the company. Curbstone Financial Management Corp increased its holdings in shares of Medtronic by 1.8% in the fourth quarter. Curbstone Financial Management Corp now owns 5,594 shares of the medical technology company’s stock valued at $537,000 after purchasing an additional 100 shares during the period. New England Capital Financial Advisors LLC grew its holdings in Medtronic by 7.8% during the fourth quarter. New England Capital Financial Advisors LLC now owns 1,403 shares of the medical technology company’s stock worth $135,000 after acquiring an additional 101 shares during the period. Baker Tilly Wealth Management LLC grew its holdings in Medtronic by 3.3% during the fourth quarter. Baker Tilly Wealth Management LLC now owns 3,221 shares of the medical technology company’s stock worth $309,000 after acquiring an additional 102 shares during the period. Maseco LLP grew its holdings in Medtronic by 32.1% during the fourth quarter. Maseco LLP now owns 444 shares of the medical technology company’s stock worth $43,000 after acquiring an additional 108 shares during the period. Finally, Holistic Financial Partners grew its holdings in Medtronic by 3.0% during the third quarter. Holistic Financial Partners now owns 3,697 shares of the medical technology company’s stock worth $352,000 after acquiring an additional 109 shares during the period. 82.06% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several analysts recently commented on MDT shares. Wells Fargo & Company started coverage on Medtronic in a report on Friday, January 30th. They set an “overweight” rating and a $114.00 target price on the stock. Evercore set a $106.00 target price on Medtronic and gave the stock an “outperform” rating in a report on Thursday, April 9th. Leerink Partners reaffirmed an “outperform” rating and set a $119.00 target price on shares of Medtronic in a report on Tuesday, March 10th. UBS Group dropped their target price on Medtronic from $104.00 to $90.00 and set a “neutral” rating on the stock in a report on Wednesday, April 22nd. Finally, Daiwa Securities Group dropped their target price on Medtronic from $117.00 to $115.00 and set a “buy” rating on the stock in a report on Friday, February 27th. Fifteen equities research analysts have rated the stock with a Buy rating and eleven have assigned a Hold rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $107.80.

Key Headlines Impacting Medtronic

Here are the key news stories impacting Medtronic this week:

• Positive Sentiment: Medtronic’s long-running dividend growth story is in focus again, with investors viewing the company as a stable income name as its 47-year streak of dividend increases is expected to continue. Medtronic dividend preview: 47-year growth streak set to continue
• Positive Sentiment: Medtronic is also benefiting from the broader “silver economy” investment theme, as aging populations continue to drive demand for medical devices and healthcare solutions. Silver Economy Investing: Why the Healthcare Giants Are in Focus
• Neutral Sentiment: The company announced Kweli Thompson will take over leadership of its neuroscience portfolio, replacing Brett Wall as part of a planned transition. The move keeps attention on execution in a major segment, but it is not a major financial update by itself. Medtronic Neuroscience Appointment Puts Focus On Execution And Growth Risks
• Neutral Sentiment: Medtronic also named new leaders in its neuroscience portfolio in a separate announcement, reinforcing that the change is already being absorbed by the market. Medtronic, BD name new leaders
• Neutral Sentiment: Recent trading commentary noted MDT had been advancing while the broader market declined, suggesting relative strength rather than a company-specific catalyst. Medtronic (MDT) Advances While Market Declines: Some Information for Investors

Insider Buying and Selling at Medtronic

In other news, EVP Harry Skip Kiil sold 52,524 shares of Medtronic stock in a transaction on Thursday, February 19th. The stock was sold at an average price of $97.71, for a total value of $5,132,120.04. Following the completion of the sale, the executive vice president directly owned 32,768 shares of the company’s stock, valued at approximately $3,201,761.28. The trade was a 61.58% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Insiders own 0.26% of the company’s stock.

Medtronic Price Performance

NYSE:MDT opened at $78.51 on Wednesday. Medtronic PLC has a one year low of $74.40 and a one year high of $106.33. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.87 and a current ratio of 2.54. The stock has a market cap of $100.80 billion, a PE ratio of 21.87, a P/E/G ratio of 1.84 and a beta of 0.62. The stock has a 50 day moving average price of $84.20 and a 200 day moving average price of $93.43.

Medtronic (NYSE:MDT) last posted its earnings results on Tuesday, February 17th. The medical technology company reported $1.36 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.34 by $0.02. The company had revenue of $9.02 billion during the quarter, compared to analysts’ expectations of $8.89 billion. Medtronic had a return on equity of 14.82% and a net margin of 13.00%.The firm’s quarterly revenue was up 5.8% compared to the same quarter last year. During the same quarter last year, the firm earned $1.38 earnings per share. Equities research analysts expect that Medtronic PLC will post 5.57 EPS for the current fiscal year.

Medtronic Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, April 17th. Stockholders of record on Friday, March 27th were paid a $0.71 dividend. The ex-dividend date of this dividend was Friday, March 27th. This represents a $2.84 dividend on an annualized basis and a dividend yield of 3.6%. Medtronic’s payout ratio is presently 79.11%.

About Medtronic

Medtronic plc is a global medical technology company that develops and manufactures a broad range of therapeutic devices and health care solutions. Headquartered legally in Ireland with principal operational offices in the United States, the company markets products to hospitals, physicians and health systems worldwide and has grown from its founding in 1949 into one of the largest medical-device manufacturers serving global health-care markets.

Medtronic’s offerings span several clinical areas, including cardiac rhythm and heart failure (pacemakers, implantable cardioverter‑defibrillators and related cardiac therapies), minimally invasive and surgical technologies (laparoscopic and advanced energy devices, visualization systems and surgical innovations), restorative therapies (spine and orthopedics, neuromodulation and neurovascular treatments) and diabetes management (insulin-delivery systems and glucose monitoring solutions).