Mcintyre Freedman & Flynn Investment Advisers Inc. Lowers Holdings in Medtronic plc (NYSE:MDT)

Mcintyre Freedman & Flynn Investment Advisers Inc. lowered its position in Medtronic plc (NYSE:MDT) by 2.1% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 28,940 shares of the medical technology company’s stock after selling 625 shares during the quarter. Medtronic makes up about 1.7% of Mcintyre Freedman & Flynn Investment Advisers Inc.’s holdings, making the stock its 22nd biggest holding. Mcintyre Freedman & Flynn Investment Advisers Inc.’s holdings in Medtronic were worth $2,312,000 at the end of the most recent reporting period.

Other institutional investors also recently added to or reduced their stakes in the company. S&CO Inc. grew its position in Medtronic by 1.3% in the 4th quarter. S&CO Inc. now owns 118,523 shares of the medical technology company’s stock valued at $9,467,000 after buying an additional 1,548 shares during the last quarter. Dearborn Partners LLC raised its stake in Medtronic by 7.9% in the 4th quarter. Dearborn Partners LLC now owns 72,027 shares of the medical technology company’s stock valued at $5,754,000 after purchasing an additional 5,252 shares during the last quarter. Riverbend Wealth Management LLC acquired a new position in shares of Medtronic during the 4th quarter valued at about $237,000. Morton Community Bank increased its stake in shares of Medtronic by 2.1% during the 4th quarter. Morton Community Bank now owns 35,734 shares of the medical technology company’s stock valued at $2,854,000 after acquiring an additional 733 shares during the last quarter. Finally, Independent Advisor Alliance increased its stake in shares of Medtronic by 25.3% during the 4th quarter. Independent Advisor Alliance now owns 54,907 shares of the medical technology company’s stock valued at $4,386,000 after acquiring an additional 11,075 shares during the last quarter. Hedge funds and other institutional investors own 82.06% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on the stock. JPMorgan Chase & Co. dropped their price objective on shares of Medtronic from $99.00 to $96.00 and set a “neutral” rating for the company in a research note on Friday, November 15th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $105.00 price objective on shares of Medtronic in a research note on Wednesday, February 19th. Robert W. Baird upped their price objective on shares of Medtronic from $90.00 to $91.00 and gave the company a “neutral” rating in a research note on Wednesday, February 19th. Sanford C. Bernstein upped their price objective on shares of Medtronic from $96.00 to $97.00 and gave the company an “outperform” rating in a research note on Wednesday, November 20th. Finally, Citigroup raised shares of Medtronic from a “neutral” rating to a “buy” rating and upped their price objective for the company from $92.00 to $107.00 in a research note on Tuesday, March 4th. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating, six have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, Medtronic currently has an average rating of “Hold” and a consensus price target of $96.07.

Medtronic Stock Down 0.8 %

NYSE MDT opened at $93.75 on Tuesday. The stock has a market cap of $120.24 billion, a PE ratio of 28.50, a P/E/G ratio of 2.22 and a beta of 0.80. Medtronic plc has a fifty-two week low of $75.96 and a fifty-two week high of $96.25. The business has a 50 day moving average price of $88.62 and a two-hundred day moving average price of $87.84. The company has a quick ratio of 1.39, a current ratio of 1.90 and a debt-to-equity ratio of 0.48.

Medtronic (NYSE:MDT) last released its quarterly earnings results on Tuesday, February 18th. The medical technology company reported $1.39 earnings per share for the quarter, topping analysts’ consensus estimates of $1.36 by $0.03. The firm had revenue of $8.29 billion during the quarter, compared to analysts’ expectations of $8.33 billion. Medtronic had a return on equity of 14.07% and a net margin of 12.83%. As a group, sell-side analysts predict that Medtronic plc will post 5.46 EPS for the current fiscal year.

Medtronic Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, April 11th. Shareholders of record on Friday, March 28th will be issued a $0.70 dividend. This represents a $2.80 dividend on an annualized basis and a yield of 2.99%. The ex-dividend date of this dividend is Friday, March 28th. Medtronic’s dividend payout ratio is presently 85.11%.

Insiders Place Their Bets

In other news, EVP Brett A. Wall sold 12,437 shares of the stock in a transaction that occurred on Friday, January 24th. The stock was sold at an average price of $90.00, for a total transaction of $1,119,330.00. Following the completion of the transaction, the executive vice president now directly owns 40,979 shares in the company, valued at approximately $3,688,110. This represents a 23.28 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 0.20% of the stock is owned by company insiders.

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.