Medtronic plc (NYSE:MDT) Shares Sold by Pinnacle Financial Partners Inc

Pinnacle Financial Partners Inc lessened its holdings in shares of Medtronic plc (NYSE:MDT) by 1.0% during the fourth quarter, HoldingsChannel reports. The fund owned 156,120 shares of the medical technology company’s stock after selling 1,642 shares during the period. Pinnacle Financial Partners Inc’s holdings in Medtronic were worth $13,791,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Sigma Planning Corp grew its holdings in Medtronic by 38.3% in the fourth quarter. Sigma Planning Corp now owns 39,892 shares of the medical technology company’s stock valued at $3,187,000 after purchasing an additional 11,049 shares during the last quarter. Callan Capital LLC grew its holdings in Medtronic by 22.1% in the fourth quarter. Callan Capital LLC now owns 3,873 shares of the medical technology company’s stock valued at $309,000 after purchasing an additional 701 shares during the last quarter. Hudson Edge Investment Partners Inc. grew its holdings in Medtronic by 70.3% in the fourth quarter. Hudson Edge Investment Partners Inc. now owns 75,198 shares of the medical technology company’s stock valued at $6,007,000 after purchasing an additional 31,054 shares during the last quarter. VisionPoint Advisory Group LLC acquired a new stake in Medtronic in the fourth quarter valued at $82,000. Finally, Crumly & Associates Inc. grew its holdings in Medtronic by 6.5% in the fourth quarter. Crumly & Associates Inc. now owns 6,533 shares of the medical technology company’s stock valued at $522,000 after purchasing an additional 397 shares during the last quarter. Institutional investors and hedge funds own 82.06% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on the company. Royal Bank of Canada restated an “outperform” rating and issued a $105.00 price objective on shares of Medtronic in a research report on Wednesday. JPMorgan Chase & Co. cut their price objective on Medtronic from $99.00 to $96.00 and set a “neutral” rating on the stock in a report on Friday, November 15th. Needham & Company LLC reiterated a “hold” rating on shares of Medtronic in a research note on Wednesday. Wells Fargo & Company lowered their price objective on Medtronic from $106.00 to $98.00 and set an “overweight” rating for the company in a research note on Wednesday, November 20th. Finally, Sanford C. Bernstein lifted 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 investment analyst has rated the stock with a sell rating, nine have assigned a hold rating, five have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, Medtronic has an average rating of “Hold” and an average price target of $95.00.

Medtronic Stock Up 2.3 %

Shares of MDT opened at $89.95 on Friday. Medtronic plc has a 52 week low of $75.96 and a 52 week high of $93.08. The company has a debt-to-equity ratio of 0.48, a quick ratio of 1.39 and a current ratio of 1.90. The firm has a market capitalization of $115.34 billion, a price-to-earnings ratio of 27.34, a PEG ratio of 2.22 and a beta of 0.84. The business’s fifty day moving average price is $86.08 and its two-hundred day moving average price is $87.10.

Medtronic (NYSE:MDT) last released 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. The firm had revenue of $8.29 billion for 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, analysts predict that Medtronic plc will post 5.46 earnings per share for the current year.

Medtronic Dividend Announcement

The business also recently declared 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 annualized dividend and a dividend yield of 3.11%. The ex-dividend date was Friday, December 27th. Medtronic’s dividend payout ratio (DPR) is currently 85.11%.

Insider Buying and Selling at Medtronic

In related news, EVP Brett A. Wall sold 12,437 shares of the business’s stock in a transaction 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 sale, 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 sale was disclosed in a document filed with the SEC, which is available through the SEC website. Company insiders own 0.20% of the company’s stock.

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.