Wealth Management Solutions LLC Has $451,000 Stock Holdings in Medtronic plc (NYSE:MDT)

Wealth Management Solutions LLC cut its stake in Medtronic plc (NYSE:MDTGet Rating) by 6.3% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,585 shares of the medical technology company’s stock after selling 376 shares during the period. Wealth Management Solutions LLC’s holdings in Medtronic were worth $451,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Castle Wealth Management LLC acquired a new position in shares of Medtronic during the 2nd quarter worth $28,000. IAG Wealth Partners LLC raised its holdings in shares of Medtronic by 58.1% during the 3rd quarter. IAG Wealth Partners LLC now owns 351 shares of the medical technology company’s stock worth $28,000 after buying an additional 129 shares in the last quarter. Tortoise Investment Management LLC raised its holdings in shares of Medtronic by 53.2% during the 2nd quarter. Tortoise Investment Management LLC now owns 357 shares of the medical technology company’s stock worth $32,000 after buying an additional 124 shares in the last quarter. West Branch Capital LLC raised its holdings in shares of Medtronic by 84.8% during the 2nd quarter. West Branch Capital LLC now owns 377 shares of the medical technology company’s stock worth $34,000 after buying an additional 173 shares in the last quarter. Finally, Fairfield Bush & CO. bought a new stake in Medtronic during the 1st quarter worth $47,000. 80.37% of the stock is owned by institutional investors and hedge funds.

Medtronic Stock Down 0.7 %

MDT stock opened at $80.21 on Wednesday. The stock’s 50 day simple moving average is $78.88 and its 200 day simple moving average is $84.57. Medtronic plc has a fifty-two week low of $75.76 and a fifty-two week high of $114.31. The company has a debt-to-equity ratio of 0.40, a quick ratio of 1.41 and a current ratio of 1.76. The company has a market cap of $106.69 billion, a P/E ratio of 25.09, a price-to-earnings-growth ratio of 2.02 and a beta of 0.72.

Medtronic (NYSE:MDTGet Rating) last issued its quarterly earnings data on Tuesday, November 22nd. The medical technology company reported $1.30 EPS for the quarter, topping the consensus estimate of $1.28 by $0.02. The firm had revenue of $7.59 billion during the quarter, compared to the consensus estimate of $7.70 billion. Medtronic had a return on equity of 13.52% and a net margin of 14.03%. The company’s quarterly revenue was down 3.3% compared to the same quarter last year. During the same period in the prior year, the business posted $1.32 earnings per share. On average, research analysts expect that Medtronic plc will post 5.26 earnings per share for the current fiscal year.

Medtronic Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, January 13th. Shareholders of record on Wednesday, December 21st were issued a dividend of $0.68 per share. This represents a $2.72 annualized dividend and a yield of 3.39%. The ex-dividend date was Tuesday, December 20th. Medtronic’s dividend payout ratio (DPR) is 84.47%.

Insider Transactions at Medtronic

In other news, EVP Sean Salmon sold 16,631 shares of the firm’s stock in a transaction on Tuesday, December 13th. The stock was sold at an average price of $80.50, for a total value of $1,338,795.50. Following the completion of the transaction, the executive vice president now directly owns 36,088 shares of the company’s stock, valued at $2,905,084. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 0.29% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on MDT shares. Cowen reduced their price objective on Medtronic from $117.00 to $90.00 in a research report on Wednesday, November 23rd. Oppenheimer lowered Medtronic from an “outperform” rating to a “market perform” rating and reduced their price objective for the stock from $106.00 to $85.00 in a research report on Wednesday, November 23rd. Deutsche Bank Aktiengesellschaft reduced their price objective on Medtronic from $85.00 to $80.00 in a research report on Wednesday, November 23rd. StockNews.com started coverage on Medtronic in a research report on Wednesday, October 12th. They set a “buy” rating on the stock. Finally, Citigroup lowered Medtronic from a “buy” rating to a “neutral” rating and reduced their price objective for the stock from $108.00 to $85.00 in a research report on Wednesday, November 23rd. One analyst has rated the stock with a sell rating, fourteen have issued a hold rating and six have given a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $94.25.

Medtronic Profile

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Medtronic Plc is a medical technology company, which engages in the development, manufacture, distribution, and sale of device-based medical therapies and services. It operates through the following segments: Cardiovascular Porrtfolio, Neuroscience Portfolio, Medical Surgical Portfolio, and Diabetes Operating Unit.

See Also

Institutional Ownership by Quarter for Medtronic (NYSE:MDT)

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