Medtronic plc. (MDT) Holdings Trimmed by Millie Capital Management LLC
Millie Capital Management LLC reduced its stake in shares of Medtronic plc. (NYSE:MDT) by 86.8% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 3,116 shares of the medical technology company’s stock after selling 20,414 shares during the quarter. Millie Capital Management LLC’s holdings in Medtronic were worth $252,000 as of its most recent filing with the Securities and Exchange Commission.
Other institutional investors and hedge funds also recently modified their holdings of the company. BDO Wealth Advisors LLC acquired a new position in Medtronic during the second quarter worth about $103,000. Motco grew its position in Medtronic by 8.7% during the second quarter. Motco now owns 1,239 shares of the medical technology company’s stock worth $110,000 after buying an additional 99 shares during the period. Blue Chip Partners Inc. acquired a new stake in shares of Medtronic in the third quarter valued at approximately $118,000. Quadrant Capital Group LLC grew its position in shares of Medtronic by 21.5% in the second quarter. Quadrant Capital Group LLC now owns 1,639 shares of the medical technology company’s stock valued at $114,000 after purchasing an additional 290 shares during the last quarter. Finally, Westwood Holdings Group Inc. acquired a new stake in shares of Medtronic in the second quarter valued at approximately $151,000. Institutional investors own 81.91% of the company’s stock.
In other Medtronic news, EVP Bryan C. Hanson sold 16,000 shares of the stock in a transaction that occurred on Friday, December 15th. The shares were sold at an average price of $82.82, for a total transaction of $1,325,120.00. Following the transaction, the executive vice president now owns 88,818 shares of the company’s stock, valued at $7,355,906.76. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, VP Richard Kuntz sold 78,526 shares of the stock in a transaction that occurred on Tuesday, January 9th. The stock was sold at an average price of $86.21, for a total transaction of $6,769,726.46. Following the transaction, the vice president now directly owns 149,761 shares in the company, valued at approximately $12,910,895.81. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 136,684 shares of company stock worth $11,582,596. 0.31% of the stock is currently owned by insiders.
Medtronic (NYSE:MDT) last posted its quarterly earnings results on Tuesday, November 21st. The medical technology company reported $1.07 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.99 by $0.08. The company had revenue of $7.05 billion for the quarter, compared to the consensus estimate of $7.05 billion. Medtronic had a net margin of 16.93% and a return on equity of 12.63%. Medtronic’s revenue was down 4.0% on a year-over-year basis. During the same quarter last year, the firm posted $1.12 earnings per share. analysts forecast that Medtronic plc. will post 4.76 EPS for the current year.
The business also recently declared a quarterly dividend, which was paid on Friday, January 19th. Shareholders of record on Friday, December 29th were paid a dividend of $0.46 per share. This represents a $1.84 dividend on an annualized basis and a yield of 2.32%. The ex-dividend date of this dividend was Thursday, December 28th. Medtronic’s dividend payout ratio is currently 50.41%.
MDT has been the topic of several research reports. Cowen reiterated a “buy” rating and issued a $95.00 price target on shares of Medtronic in a research report on Friday, November 3rd. SunTrust Banks reiterated a “buy” rating and issued a $96.00 price target on shares of Medtronic in a research report on Friday, November 3rd. Needham & Company LLC reiterated a “buy” rating and issued a $94.00 price target on shares of Medtronic in a research report on Thursday, November 9th. Stifel Nicolaus increased their price target on shares of Medtronic from $83.00 to $85.00 and gave the company a “hold” rating in a research report on Wednesday, November 22nd. Finally, Oppenheimer reiterated a “buy” rating and issued a $94.00 price target on shares of Medtronic in a research report on Wednesday, November 22nd. Two investment analysts have rated the stock with a sell rating, nine have given a hold rating and fifteen have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average target price of $90.10.
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Medtronic Public Limited Company (Medtronic) is a medical technology and services company. The Company develops, manufactures and markets its medical devices and technologies to hospitals, physicians, clinicians and patients in approximately 160 countries. The Company operates in four segments: Cardiac and Vascular Group, Minimally Invasive Technologies Group, Restorative Therapies Group and Diabetes Group.
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