Medtronic plc (NYSE:MDT) Stock Holdings Lowered by First Affirmative Financial Network

First Affirmative Financial Network lowered its holdings in shares of Medtronic plc (NYSE:MDT) by 10.2% during the 4th quarter, Holdings Channel reports. The fund owned 5,166 shares of the medical technology company’s stock after selling 589 shares during the period. First Affirmative Financial Network’s holdings in Medtronic were worth $413,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Fortitude Family Office LLC acquired a new stake in Medtronic in the third quarter worth approximately $27,000. Highline Wealth Partners LLC acquired a new position in shares of Medtronic in the 3rd quarter valued at $27,000. Darwin Wealth Management LLC purchased a new position in shares of Medtronic in the third quarter worth approximately $27,000. J. Stern & Co. LLP purchased a new position in Medtronic during the 3rd quarter worth approximately $30,000. Finally, Kieckhefer Group LLC acquired a new position in shares of Medtronic in the 4th quarter valued at about $40,000. 82.06% of the stock is currently owned by institutional investors.

Medtronic Stock Performance

Medtronic stock opened at $91.51 on Thursday. The firm has a market capitalization of $117.34 billion, a P/E ratio of 27.98, a P/E/G ratio of 2.49 and a beta of 0.83. The stock has a fifty day moving average price of $83.99 and a two-hundred day moving average price of $85.83. Medtronic plc has a 52-week low of $75.96 and a 52-week high of $93.08. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.84 and a quick ratio of 1.39.

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, topping analysts’ consensus estimates of $1.25 by $0.01. Medtronic had a net margin of 13.00% and a return on equity of 13.79%. The business had revenue of $8.40 billion during the quarter, compared to analysts’ expectations of $8.27 billion. During the same quarter last year, the company posted $1.25 EPS. The firm’s revenue for the quarter was up 5.2% on a year-over-year basis. As a group, analysts anticipate that Medtronic plc will post 5.45 EPS for the current fiscal year.

Medtronic Announces Dividend

The company also recently announced 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 3.06%. The ex-dividend date of this dividend was Friday, December 27th. Medtronic’s dividend payout ratio (DPR) is currently 85.63%.

Analyst Upgrades and Downgrades

MDT has been the topic of a number of recent research reports. Royal Bank of Canada upgraded Medtronic from a “sector perform” rating to an “outperform” rating and boosted their target price for the company from $98.00 to $105.00 in a research note on Thursday, October 10th. Wells Fargo & Company dropped their price objective on Medtronic from $106.00 to $98.00 and set an “overweight” rating on the stock in a research note on Wednesday, November 20th. JPMorgan Chase & Co. decreased their target price on Medtronic from $99.00 to $96.00 and set a “neutral” rating for the company in a research note on Friday, November 15th. Robert W. Baird dropped their price target on Medtronic from $96.00 to $93.00 and set a “neutral” rating on the stock in a research report on Wednesday, November 20th. Finally, Needham & Company LLC reissued a “hold” rating on shares of Medtronic in a research report on Monday, November 18th. One analyst has rated the stock with a sell rating, nine have assigned a hold rating, six have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Medtronic currently has a consensus rating of “Hold” and an average target price of $95.00.

Insider Transactions at Medtronic

In other Medtronic news, EVP Brett A. Wall sold 9,850 shares of the firm’s stock in a transaction dated Wednesday, January 8th. The shares were sold at an average price of $80.41, for a total value of $792,038.50. Following the completion of the sale, the executive vice president now owns 40,708 shares in the company, valued at approximately $3,273,330.28. This trade represents a 19.48 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 0.20% of the stock is owned by company 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.