Corient Private Wealth LLC Sells 32,853 Shares of Medtronic plc (NYSE:MDT)

Corient Private Wealth LLC decreased its holdings in shares of Medtronic plc (NYSE:MDT) by 5.0% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 619,139 shares of the medical technology company’s stock after selling 32,853 shares during the period. Corient Private Wealth LLC’s holdings in Medtronic were worth $49,457,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. Envestnet Portfolio Solutions Inc. increased its position in Medtronic by 1.7% in the fourth quarter. Envestnet Portfolio Solutions Inc. now owns 190,937 shares of the medical technology company’s stock worth $15,252,000 after buying an additional 3,255 shares in the last quarter. Natixis Advisors LLC grew its stake in shares of Medtronic by 5.9% during the 4th quarter. Natixis Advisors LLC now owns 1,423,128 shares of the medical technology company’s stock valued at $113,679,000 after acquiring an additional 78,918 shares during the period. Poinciana Advisors Group LLC purchased a new stake in Medtronic in the 4th quarter worth approximately $341,000. Valtinson Bruner Financial Planning LLC raised its stake in Medtronic by 4.0% during the 4th quarter. Valtinson Bruner Financial Planning LLC now owns 23,933 shares of the medical technology company’s stock worth $1,912,000 after acquiring an additional 920 shares during the period. Finally, Buckley Wealth Management LLC lifted its holdings in Medtronic by 2.7% during the fourth quarter. Buckley Wealth Management LLC now owns 9,945 shares of the medical technology company’s stock valued at $794,000 after purchasing an additional 262 shares in the last quarter. 82.06% of the stock is currently owned by hedge funds and other institutional investors.

Medtronic Trading Up 0.2 %

Shares of NYSE MDT opened at $93.30 on Tuesday. The stock has a market capitalization of $119.66 billion, a P/E ratio of 28.36, a PEG ratio of 2.22 and a beta of 0.80. Medtronic plc has a 1-year low of $75.96 and a 1-year high of $96.25. The business’s 50 day moving average is $89.88 and its two-hundred day moving average is $87.99. The company has a debt-to-equity ratio of 0.48, a current ratio of 1.90 and a quick ratio of 1.39.

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, beating the consensus estimate of $1.36 by $0.03. The company had revenue of $8.29 billion for the quarter, compared to analyst estimates of $8.33 billion. Medtronic had a return on equity of 14.07% and a net margin of 12.83%. As a group, research analysts expect that Medtronic plc will post 5.46 EPS for the current year.

Medtronic Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, April 11th. Investors of record on Friday, March 28th will be paid a dividend of $0.70 per share. The ex-dividend date is Friday, March 28th. This represents a $2.80 dividend on an annualized basis and a dividend yield of 3.00%. Medtronic’s dividend payout ratio is presently 85.11%.

Wall Street Analyst Weigh In

Several analysts have recently commented on the stock. Citigroup upgraded shares of Medtronic from a “neutral” rating to a “buy” rating and raised their price objective for the company from $92.00 to $107.00 in a research report on Tuesday, March 4th. Wells Fargo & Company decreased their price target on Medtronic from $106.00 to $98.00 and set an “overweight” rating on the stock in a report on Wednesday, November 20th. Sanford C. Bernstein upped their price objective on Medtronic from $96.00 to $97.00 and gave the stock an “outperform” rating in a research note on Wednesday, November 20th. Robert W. Baird lifted their target price on Medtronic from $90.00 to $91.00 and gave the company a “neutral” rating in a research note on Wednesday, February 19th. Finally, UBS Group upped their price target on Medtronic from $85.00 to $95.00 and gave the stock a “neutral” rating in a research note on Wednesday, February 19th. One research analyst has rated the stock with a sell rating, eight have issued a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $96.07.

Insider Activity at Medtronic

In other Medtronic 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 value of $792,038.50. Following the transaction, the executive vice president now owns 40,708 shares of the company’s stock, valued at $3,273,330.28. This represents a 19.48 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. 0.20% of the stock is currently owned by insiders.

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.