Ballast Advisors LLC Sells 258 Shares of Medtronic plc (NYSE:MDT)

by · The Markets Daily

Ballast Advisors LLC lessened its holdings in Medtronic plc (NYSE:MDT – Free Report) by 4.7% during the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 5,203 shares of the medical technology company’s stock after selling 258 shares during the period. Ballast Advisors LLC’s holdings in Medtronic were worth $416,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in the business. Mainstream Capital Management LLC bought a new stake in shares of Medtronic during the 4th quarter valued at about $26,000. Darwin Wealth Management LLC purchased a new stake in Medtronic in the third quarter valued at approximately $27,000. Stephens Consulting LLC raised its stake in Medtronic by 145.7% in the fourth quarter. Stephens Consulting LLC now owns 344 shares of the medical technology company’s stock valued at $27,000 after purchasing an additional 204 shares in the last quarter. Rakuten Securities Inc. lifted its position in Medtronic by 753.8% during the fourth quarter. Rakuten Securities Inc. now owns 333 shares of the medical technology company’s stock valued at $27,000 after purchasing an additional 294 shares during the last quarter. Finally, J. Stern & Co. LLP purchased a new position in Medtronic in the 3rd quarter worth approximately $30,000. Institutional investors own 82.06% of the company’s stock.

Analysts Set New Price Targets

Several research firms have recently weighed in on MDT. UBS Group raised their price objective on shares of Medtronic from $85.00 to $95.00 and gave the company a “neutral” rating in a research report on Wednesday, February 19th. Citigroup upgraded Medtronic from a “neutral” rating to a “buy” rating and raised their price target for the company from $92.00 to $107.00 in a research report on Tuesday, March 4th. Barclays upped their target price on Medtronic from $105.00 to $109.00 and gave the stock an “overweight” rating in a research note on Tuesday, November 26th. Robert W. Baird raised their price objective on Medtronic from $90.00 to $91.00 and gave the company a “neutral” rating in a research note on Wednesday, February 19th. Finally, Needham & Company LLC restated a “hold” rating on shares of Medtronic in a research report on Wednesday, February 19th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating, six have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $96.07.

Read Our Latest Analysis on MDT

Insider Buying and Selling

In related news, EVP Brett A. Wall sold 12,437 shares of the firm’s 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 transaction, the executive vice president now owns 40,979 shares in the company, valued at $3,688,110. This trade represents a 23.28 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 0.20% of the stock is owned by company insiders.

Medtronic Stock Down 0.8 %

MDT stock opened at $91.15 on Friday. Medtronic plc has a fifty-two week low of $75.96 and a fifty-two week high of $96.25. The company’s 50 day moving average price is $90.47 and its 200 day moving average price is $88.06. The company has a debt-to-equity ratio of 0.48, a quick ratio of 1.39 and a current ratio of 1.90. The firm has a market capitalization of $116.91 billion, a price-to-earnings ratio of 27.71, a PEG ratio of 2.22 and a beta of 0.80.

Medtronic (NYSE:MDT – Get Free Report) last issued its earnings results on Tuesday, February 18th. The medical technology company reported $1.39 earnings per share for the quarter, topping the consensus estimate of $1.36 by $0.03. The business 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%. On average, equities research analysts anticipate that Medtronic plc will post 5.46 EPS for the current fiscal year.

Medtronic Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, April 11th. Investors of record on Friday, March 28th will be given a $0.70 dividend. This represents a $2.80 dividend on an annualized basis and a dividend yield of 3.07%. The ex-dividend date of this dividend is Friday, March 28th. Medtronic’s dividend payout ratio (DPR) is 85.11%.

Medtronic Company Profile

(Free Report)

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.

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