Medtronic plc (NYSE:MDT) Stock Holdings Trimmed by White Pine Capital LLC

White Pine Capital LLC lessened its position in shares of Medtronic plc (NYSE:MDT) by 4.2% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 6,133 shares of the medical technology company’s stock after selling 266 shares during the period. White Pine Capital LLC’s holdings in Medtronic were worth $490,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in the company. CX Institutional lifted its stake in Medtronic by 9.1% during the third quarter. CX Institutional now owns 7,290 shares of the medical technology company’s stock worth $656,000 after purchasing an additional 608 shares during the last quarter. Sumitomo Life Insurance Co. raised its holdings in shares of Medtronic by 2.5% during the third quarter. Sumitomo Life Insurance Co. now owns 18,808 shares of the medical technology company’s stock worth $1,693,000 after purchasing an additional 458 shares during the period. Wolff Wiese Magana LLC lifted its position in shares of Medtronic by 1.2% in the 3rd quarter. Wolff Wiese Magana LLC now owns 17,062 shares of the medical technology company’s stock worth $1,536,000 after buying an additional 205 shares during the last quarter. SPC Financial Inc. lifted its position in shares of Medtronic by 9.7% in the 3rd quarter. SPC Financial Inc. now owns 11,305 shares of the medical technology company’s stock worth $1,018,000 after buying an additional 1,004 shares during the last quarter. Finally, Cornerstone Wealth Management LLC grew its position in shares of Medtronic by 4.8% during the 3rd quarter. Cornerstone Wealth Management LLC now owns 12,778 shares of the medical technology company’s stock valued at $1,150,000 after buying an additional 586 shares during the last quarter. Institutional investors and hedge funds own 82.06% of the company’s stock.

Medtronic Stock Up 1.0 %

MDT stock opened at $92.27 on Friday. The firm’s 50-day moving average is $85.16 and its two-hundred day moving average is $86.68. The company has a market capitalization of $118.32 billion, a price-to-earnings ratio of 28.22, a price-to-earnings-growth ratio of 2.57 and a beta of 0.84. Medtronic plc has a 52 week low of $75.96 and a 52 week high of $93.08. 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 (NYSE:MDT) last announced its earnings results on Tuesday, November 19th. The medical technology company reported $1.26 EPS for the quarter, topping the consensus estimate of $1.25 by $0.01. The firm had revenue of $8.40 billion for 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 firm’s quarterly revenue was up 5.2% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.25 earnings per share. On average, analysts forecast that Medtronic plc will post 5.45 earnings per share for the current fiscal year.

Medtronic Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, January 10th. Stockholders of record on Friday, December 27th were issued a $0.70 dividend. The ex-dividend date of this dividend was Friday, December 27th. This represents a $2.80 annualized dividend and a dividend yield of 3.03%. Medtronic’s dividend payout ratio (DPR) is 85.63%.

Insider Activity at Medtronic

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 shares were sold at an average price of $80.41, for a total value of $792,038.50. Following the completion of the sale, the executive vice president now directly owns 40,708 shares of the company’s stock, valued at approximately $3,273,330.28. This represents a 19.48 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 0.20% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on the stock. Robert W. Baird cut their target price on shares of Medtronic from $96.00 to $93.00 and set a “neutral” rating on the stock in a report on Wednesday, November 20th. JPMorgan Chase & Co. cut their price target on Medtronic from $99.00 to $96.00 and set a “neutral” rating on the stock in a report on Friday, November 15th. Barclays boosted their price objective on Medtronic from $105.00 to $109.00 and gave the company an “overweight” rating in a research report on Tuesday, November 26th. Sanford C. Bernstein increased 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, Wells Fargo & Company reduced their price target on shares of Medtronic from $106.00 to $98.00 and set an “overweight” rating for the company in a report on Wednesday, November 20th. One equities research 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. Based on data from MarketBeat.com, Medtronic 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.