LaFleur & Godfrey LLC Reduces Position in Medtronic plc (NYSE:MDT)

LaFleur & Godfrey LLC lowered its position in Medtronic plc (NYSE:MDT) by 24.3% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 39,923 shares of the medical technology company’s stock after selling 12,796 shares during the period. LaFleur & Godfrey LLC’s holdings in Medtronic were worth $3,189,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also modified their holdings of the business. Fortitude Family Office LLC bought a new stake in shares of Medtronic during the 3rd quarter worth approximately $27,000. Darwin Wealth Management LLC purchased a new stake in Medtronic in the third quarter worth $27,000. Highline Wealth Partners LLC bought a new stake in shares of Medtronic during the third quarter worth $27,000. J. Stern & Co. LLP purchased a new stake in shares of Medtronic during the third quarter valued at $30,000. Finally, Chelsea Counsel Co. bought a new position in shares of Medtronic in the third quarter worth about $45,000. Hedge funds and other institutional investors own 82.06% of the company’s stock.

Medtronic Price Performance

NYSE MDT opened at $88.23 on Monday. The company has a market cap of $113.13 billion, a price-to-earnings ratio of 26.98, a PEG ratio of 2.28 and a beta of 0.83. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.84 and a quick ratio of 1.39. The stock’s fifty day moving average price is $83.64 and its 200 day moving average price is $85.16. Medtronic plc has a 1 year low of $75.96 and a 1 year high of $92.68.

Medtronic (NYSE:MDT) last released its earnings results on Tuesday, November 19th. The medical technology company reported $1.26 EPS for the quarter, topping analysts’ consensus estimates of $1.25 by $0.01. Medtronic had a return on equity of 13.79% and a net margin of 13.00%. The firm had revenue of $8.40 billion during the quarter, compared to the consensus estimate of $8.27 billion. During the same quarter in the previous year, the company posted $1.25 earnings per share. The company’s revenue was up 5.2% compared to the same quarter last year. As a group, equities research analysts forecast that Medtronic plc will post 5.45 earnings per share for the current year.

Medtronic Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, January 10th. Stockholders of record on Friday, December 27th were paid a $0.70 dividend. The ex-dividend date of this dividend was Friday, December 27th. This represents a $2.80 dividend on an annualized basis and a dividend yield of 3.17%. Medtronic’s payout ratio is currently 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 that occurred on Wednesday, January 8th. The stock was sold at an average price of $80.41, for a total value of $792,038.50. Following the sale, the executive vice president now owns 40,708 shares in the company, valued at approximately $3,273,330.28. This represents a 19.48 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. 0.20% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on the stock. JPMorgan Chase & Co. lowered their price objective on shares of Medtronic from $99.00 to $96.00 and set a “neutral” rating for the company in a research report on Friday, November 15th. Barclays boosted their price target on Medtronic from $105.00 to $109.00 and gave the company an “overweight” rating in a report on Tuesday, November 26th. Needham & Company LLC restated a “hold” rating on shares of Medtronic in a report on Monday, November 18th. Robert W. Baird decreased their target price on Medtronic from $96.00 to $93.00 and set a “neutral” rating for the company in a research report on Wednesday, November 20th. Finally, Royal Bank of Canada raised Medtronic from a “sector perform” rating to an “outperform” rating and increased their price target for the stock from $98.00 to $105.00 in a research report on Thursday, October 10th. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating, six have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, Medtronic has a consensus rating of “Hold” and a consensus price target of $95.00.

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.