Creative Financial Designs Inc. ADV Trims Stake in Medtronic PLC $MDT

Creative Financial Designs Inc. ADV lowered its holdings in Medtronic PLC (NYSE:MDT) by 33.8% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 18,124 shares of the medical technology company’s stock after selling 9,265 shares during the quarter. Creative Financial Designs Inc. ADV’s holdings in Medtronic were worth $1,741,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in MDT. Artisan Partners Limited Partnership raised its holdings in shares of Medtronic by 2.6% in the 3rd quarter. Artisan Partners Limited Partnership now owns 1,234,550 shares of the medical technology company’s stock valued at $117,579,000 after buying an additional 31,314 shares during the period. SageView Advisory Group LLC raised its position in Medtronic by 164.8% in the 3rd quarter. SageView Advisory Group LLC now owns 24,204 shares of the medical technology company’s stock valued at $2,305,000 after purchasing an additional 15,062 shares in the last quarter. CSM Advisors LLC raised its position in Medtronic by 13.2% in the 3rd quarter. CSM Advisors LLC now owns 285,260 shares of the medical technology company’s stock valued at $27,169,000 after purchasing an additional 33,167 shares in the last quarter. UMB Bank n.a. raised its position in Medtronic by 65.8% in the 3rd quarter. UMB Bank n.a. now owns 138,278 shares of the medical technology company’s stock valued at $13,170,000 after purchasing an additional 54,898 shares in the last quarter. Finally, Applied Finance Capital Management LLC acquired a new stake in Medtronic in the 3rd quarter valued at about $1,308,000. Hedge funds and other institutional investors own 82.06% of the company’s stock.

Analyst Ratings Changes

MDT has been the topic of a number of analyst reports. Leerink Partners reaffirmed an “outperform” rating and issued a $119.00 price target on shares of Medtronic in a research report on Tuesday, March 10th. Weiss Ratings lowered Medtronic from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Tuesday, April 21st. Citigroup reduced their price target on Medtronic from $117.00 to $110.00 and set a “buy” rating on the stock in a research report on Tuesday, April 7th. Evercore set a $106.00 price target on Medtronic and gave the company an “outperform” rating in a research report on Thursday, April 9th. Finally, Wall Street Zen lowered Medtronic from a “buy” rating to a “hold” rating in a research report on Saturday, April 11th. Fifteen analysts have rated the stock with a Buy rating and eleven have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $107.80.

Medtronic Trading Down 0.6%

NYSE:MDT opened at $78.09 on Thursday. The stock has a 50-day simple moving average of $83.94 and a 200-day simple moving average of $93.34. The stock has a market cap of $100.26 billion, a P/E ratio of 21.75, a P/E/G ratio of 1.87 and a beta of 0.62. Medtronic PLC has a 1 year low of $74.40 and a 1 year high of $106.33. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.87 and a current ratio of 2.54.

Medtronic (NYSE:MDT) last released its quarterly earnings data on Tuesday, February 17th. The medical technology company reported $1.36 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.34 by $0.02. The business had revenue of $9.02 billion during the quarter, compared to analysts’ expectations of $8.89 billion. Medtronic had a return on equity of 14.82% and a net margin of 13.00%.The business’s quarterly revenue was up 5.8% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.38 EPS. As a group, analysts anticipate that Medtronic PLC will post 5.56 earnings per share for the current fiscal year.

Medtronic Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, April 17th. Stockholders of record on Friday, March 27th were given a dividend of $0.71 per share. This represents a $2.84 annualized dividend and a dividend yield of 3.6%. The ex-dividend date of this dividend was Friday, March 27th. Medtronic’s dividend payout ratio is currently 79.11%.

Key Headlines Impacting Medtronic

Here are the key news stories impacting Medtronic this week:

• Positive Sentiment: Medtronic announced plans to acquire privately held SPR Therapeutics for about $650 million in cash, a deal that should expand its neuromodulation franchise and add temporary peripheral nerve stimulation technology for chronic pain treatment. Article: Medtronic announces intent to acquire SPR Therapeutics, Inc., expanding care options for people living with chronic pain
• Positive Sentiment: Broader healthcare trading was mixed but stable, which suggests the stock’s move is more about company news than a sector-wide selloff. Article: Sector Update: Healthcare Stocks Mixed Late Afternoon
• Neutral Sentiment: Medtronic also named Kweli Thompson to lead its neuroscience portfolio, a leadership change that keeps attention on execution in one of its key growth businesses. Article: Medtronic, BD name new leaders
• Negative Sentiment: Investors appear to be weighing the $650 million cash outlay and integration risk from the SPR deal, which may be pressuring the shares in the near term. Article: Medtronic (MDT) Stock Slides as Company Announces $650M SPR Therapeutics Deal

Medtronic 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).