HighTower Advisors LLC Sells 15,683 Shares of Medtronic PLC $MDT

HighTower Advisors LLC reduced its holdings in shares of Medtronic PLC (NYSE:MDT) by 1.1% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 1,444,921 shares of the medical technology company’s stock after selling 15,683 shares during the quarter. HighTower Advisors LLC’s holdings in Medtronic were worth $138,799,000 as of its most recent SEC filing.

Several other hedge funds have also added to or reduced their stakes in MDT. Lodestone Wealth Management LLC bought a new stake in Medtronic in the fourth quarter worth about $27,000. Anfield Capital Management LLC raised its holdings in shares of Medtronic by 410.7% in the 4th quarter. Anfield Capital Management LLC now owns 286 shares of the medical technology company’s stock worth $27,000 after purchasing an additional 230 shares during the period. Valley Wealth Managers Inc. purchased a new position in Medtronic in the third quarter valued at approximately $29,000. Board of the Pension Protection Fund purchased a new position in Medtronic in the fourth quarter valued at approximately $29,000. Finally, GoalVest Advisory LLC bought a new position in Medtronic during the fourth quarter valued at $29,000. Institutional investors own 82.06% of the company’s stock.

Key Medtronic News

Here are the key news stories impacting Medtronic this week:

• Positive Sentiment: Medtronic’s long-running dividend growth story is in focus again, with investors viewing the company as a stable income name as its 47-year streak of dividend increases is expected to continue. Medtronic dividend preview: 47-year growth streak set to continue
• Positive Sentiment: Medtronic is also benefiting from the broader “silver economy” investment theme, as aging populations continue to drive demand for medical devices and healthcare solutions. Silver Economy Investing: Why the Healthcare Giants Are in Focus
• Neutral Sentiment: The company announced Kweli Thompson will take over leadership of its neuroscience portfolio, replacing Brett Wall as part of a planned transition. The move keeps attention on execution in a major segment, but it is not a major financial update by itself. Medtronic Neuroscience Appointment Puts Focus On Execution And Growth Risks
• Neutral Sentiment: Medtronic also named new leaders in its neuroscience portfolio in a separate announcement, reinforcing that the change is already being absorbed by the market. Medtronic, BD name new leaders
• Neutral Sentiment: Recent trading commentary noted MDT had been advancing while the broader market declined, suggesting relative strength rather than a company-specific catalyst. Medtronic (MDT) Advances While Market Declines: Some Information for Investors

Analysts Set New Price Targets

A number of analysts have issued reports on the company. Robert W. Baird raised their target price on Medtronic from $92.00 to $93.00 and gave the stock a “neutral” rating in a research report on Wednesday, April 15th. Wall Street Zen cut Medtronic from a “buy” rating to a “hold” rating in a research report on Saturday, April 11th. Jefferies Financial Group reiterated a “hold” rating and set a $95.00 price target on shares of Medtronic in a research note on Thursday, April 23rd. Leerink Partners restated an “outperform” rating and issued a $119.00 price objective on shares of Medtronic in a research note on Tuesday, March 10th. Finally, Barclays upped their price objective on shares of Medtronic from $118.00 to $120.00 and gave the company an “overweight” rating in a report on Wednesday, April 1st. Fifteen equities research analysts have rated the stock with a Buy rating and eleven have issued a Hold rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $107.80.

Insiders Place Their Bets

In other Medtronic news, EVP Harry Skip Kiil sold 52,524 shares of Medtronic stock in a transaction dated Thursday, February 19th. The stock was sold at an average price of $97.71, for a total transaction of $5,132,120.04. Following the completion of the transaction, the executive vice president owned 32,768 shares of the company’s stock, valued at $3,201,761.28. The trade was a 61.58% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 0.26% of the stock is owned by insiders.

Medtronic Trading Up 1.5%

Shares of MDT stock opened at $78.51 on Wednesday. The company’s fifty day simple moving average is $84.20 and its two-hundred day simple moving average is $93.43. The company has a debt-to-equity ratio of 0.57, a current ratio of 2.54 and a quick ratio of 1.87. Medtronic PLC has a 1 year low of $74.40 and a 1 year high of $106.33. The stock has a market capitalization of $100.80 billion, a price-to-earnings ratio of 21.87, a PEG ratio of 1.84 and a beta of 0.62.

Medtronic (NYSE:MDT) last issued its earnings results on Tuesday, February 17th. The medical technology company reported $1.36 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.34 by $0.02. Medtronic had a net margin of 13.00% and a return on equity of 14.82%. The business had revenue of $9.02 billion for the quarter, compared to analysts’ expectations of $8.89 billion. During the same quarter in the previous year, the firm posted $1.38 EPS. The business’s revenue for the quarter was up 5.8% compared to the same quarter last year. As a group, analysts anticipate that Medtronic PLC will post 5.57 earnings per share for the current year.

Medtronic Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, April 17th. Shareholders of record on Friday, March 27th were paid a $0.71 dividend. The ex-dividend date was Friday, March 27th. This represents a $2.84 annualized dividend and a yield of 3.6%. Medtronic’s dividend payout ratio (DPR) is currently 79.11%.

Medtronic Company Profile

Medtronic plc is a global medical technology company that develops and manufactures a broad range of therapeutic devices and health care solutions. Headquartered legally in Ireland with principal operational offices in the United States, the company markets products to hospitals, physicians and health systems worldwide and has grown from its founding in 1949 into one of the largest medical-device manufacturers serving global health-care markets.

Medtronic’s offerings span several clinical areas, including cardiac rhythm and heart failure (pacemakers, implantable cardioverter?defibrillators and related cardiac therapies), minimally invasive and surgical technologies (laparoscopic and advanced energy devices, visualization systems and surgical innovations), restorative therapies (spine and orthopedics, neuromodulation and neurovascular treatments) and diabetes management (insulin-delivery systems and glucose monitoring solutions).