Medtronic plc (NYSE:MDT) Shares Sold by Sicart Associates LLC

Sicart Associates LLC cut its holdings in shares of Medtronic plc (NYSE:MDT) by 3.8% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 75,440 shares of the medical technology company’s stock after selling 3,020 shares during the period. Medtronic makes up about 2.2% of Sicart Associates LLC’s portfolio, making the stock its 21st largest holding. Sicart Associates LLC’s holdings in Medtronic were worth $6,079,000 at the end of the most recent quarter.

A number of other institutional investors have also recently modified their holdings of MDT. Beech Hill Advisors Inc. boosted its holdings in Medtronic by 5.5% in the 4th quarter. Beech Hill Advisors Inc. now owns 48,306 shares of the medical technology company’s stock worth $3,859,000 after buying an additional 2,519 shares during the last quarter. Hennion & Walsh Asset Management Inc. acquired a new stake in Medtronic in the 4th quarter worth about $280,000. StrongBox Wealth LLC boosted its holdings in Medtronic by 3.6% in the 4th quarter. StrongBox Wealth LLC now owns 16,701 shares of the medical technology company’s stock worth $1,334,000 after buying an additional 576 shares during the last quarter. Steph & Co. boosted its holdings in Medtronic by 1,736.2% in the 4th quarter. Steph & Co. now owns 1,065 shares of the medical technology company’s stock worth $85,000 after buying an additional 1,007 shares during the last quarter. Finally, Winch Advisory Services LLC boosted its holdings in Medtronic by 4.3% in the 4th quarter. Winch Advisory Services LLC now owns 9,361 shares of the medical technology company’s stock worth $748,000 after buying an additional 385 shares during the last quarter. 82.06% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Medtronic

In other news, EVP Brett A. Wall sold 9,850 shares of the company’s stock in a transaction on Wednesday, January 8th. The stock was sold at an average price of $80.41, for a total transaction of $792,038.50. Following the sale, the executive vice president now owns 40,708 shares of the company’s stock, valued at approximately $3,273,330.28. This represents a 19.48 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.20% of the stock is owned by corporate insiders.

Medtronic Trading Up 2.1 %

MDT opened at $87.19 on Friday. Medtronic plc has a one year low of $75.96 and a one year high of $92.68. The stock has a market capitalization of $111.80 billion, a PE ratio of 26.66, a P/E/G ratio of 2.28 and a beta of 0.83. The business’s 50 day moving average price is $83.65 and its 200 day moving average price is $85.01. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.39 and a current ratio of 1.84.

Medtronic (NYSE:MDT) last announced its earnings results on Tuesday, November 19th. The medical technology company reported $1.26 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.25 by $0.01. The company had revenue of $8.40 billion for the quarter, compared to analyst estimates 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. As a group, equities research analysts expect that Medtronic plc will post 5.45 EPS for the current year.

Medtronic Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, January 10th. Shareholders of record on Friday, December 27th were given a $0.70 dividend. This represents a $2.80 dividend on an annualized basis and a yield of 3.21%. The ex-dividend date was Friday, December 27th. Medtronic’s payout ratio is 85.63%.

Analyst Ratings Changes

MDT has been the topic of several research analyst reports. Evercore ISI lifted their price objective on Medtronic from $100.00 to $104.00 and gave the stock an “outperform” rating in a report on Tuesday, October 1st. Barclays lifted their price objective on Medtronic from $105.00 to $109.00 and gave the stock an “overweight” rating in a report on Tuesday, November 26th. Robert W. Baird lowered their target price on Medtronic from $96.00 to $93.00 and set a “neutral” rating on the stock in a report on Wednesday, November 20th. Wells Fargo & Company lowered their target price on Medtronic from $106.00 to $98.00 and set an “overweight” rating on the stock in a report on Wednesday, November 20th. Finally, JPMorgan Chase & Co. lowered their target price on Medtronic from $99.00 to $96.00 and set a “neutral” rating on the stock in a report on Friday, November 15th. One 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 given a strong buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $95.00.

Medtronic 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.