Moseley Investment Management Inc. Has $867,000 Holdings in Medtronic plc (NYSE:MDT)

Moseley Investment Management Inc. decreased its stake in shares of Medtronic plc (NYSE:MDT) by 20.1% during the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 10,855 shares of the medical technology company’s stock after selling 2,723 shares during the period. Moseley Investment Management Inc.’s holdings in Medtronic were worth $867,000 as of its most recent filing with the SEC.

A number of other institutional investors have also made changes to their positions in MDT. Copley Financial Group Inc. bought a new stake in Medtronic during the third quarter valued at about $694,000. Olstein Capital Management L.P. boosted its stake in Medtronic by 19.2% during the 3rd quarter. Olstein Capital Management L.P. now owns 87,000 shares of the medical technology company’s stock valued at $7,833,000 after purchasing an additional 14,000 shares during the period. Franklin Street Advisors Inc. NC grew its holdings in Medtronic by 32.6% in the 4th quarter. Franklin Street Advisors Inc. NC now owns 73,517 shares of the medical technology company’s stock valued at $5,873,000 after buying an additional 18,057 shares during the last quarter. Y Intercept Hong Kong Ltd increased its position in Medtronic by 322.6% in the 3rd quarter. Y Intercept Hong Kong Ltd now owns 73,593 shares of the medical technology company’s stock worth $6,626,000 after buying an additional 56,178 shares during the period. Finally, Ferguson Wellman Capital Management Inc. acquired a new position in shares of Medtronic during the third quarter worth approximately $9,486,000. 82.06% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on MDT. Wells Fargo & Company lowered their price objective on shares of Medtronic from $106.00 to $98.00 and set an “overweight” rating on the stock in a research note on Wednesday, November 20th. Robert W. Baird reduced their price target on shares of Medtronic from $96.00 to $93.00 and set a “neutral” rating for the company in a report on Wednesday, November 20th. Citigroup boosted their price objective on shares of Medtronic from $85.00 to $92.00 and gave the stock a “neutral” rating in a report on Tuesday, October 1st. Sanford C. Bernstein increased their target price 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, Royal Bank of Canada raised Medtronic from a “sector perform” rating to an “outperform” rating and lifted their target price for the stock from $98.00 to $105.00 in a research report on Thursday, October 10th. One equities research 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. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $95.00.

Medtronic Price Performance

Medtronic stock opened at $85.16 on Wednesday. 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 business has a 50 day simple moving average of $83.74 and a 200 day simple moving average of $85.01. Medtronic plc has a one year low of $75.96 and a one year high of $92.68. The company has a market capitalization of $109.20 billion, a PE ratio of 26.04, a price-to-earnings-growth ratio of 2.33 and a beta of 0.83.

Medtronic (NYSE:MDT) last posted its quarterly earnings results on Tuesday, November 19th. The medical technology company reported $1.26 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.25 by $0.01. The business had revenue of $8.40 billion for the quarter, compared to analysts’ expectations 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 last year, the business earned $1.25 earnings per share. On average, sell-side analysts forecast that Medtronic plc will post 5.45 EPS for the current fiscal year.

Medtronic Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, January 10th. Stockholders of record on Friday, December 27th were paid a $0.70 dividend. This represents a $2.80 dividend on an annualized basis and a dividend yield of 3.29%. The ex-dividend date was Friday, December 27th. Medtronic’s dividend payout ratio (DPR) is currently 85.63%.

Insider Transactions at Medtronic

In related news, EVP Brett A. Wall sold 9,850 shares of the stock in a transaction that occurred on Wednesday, January 8th. The shares were sold at an average price of $80.41, for a total value of $792,038.50. Following the sale, the executive vice president now directly owns 40,708 shares in the company, valued at $3,273,330.28. This trade represents a 19.48 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. 0.20% of the stock is owned by corporate 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.