Vident Advisory LLC Sells 353 Shares of Medtronic plc (NYSE:MDT)

Vident Advisory LLC trimmed its position in shares of Medtronic plc (NYSE:MDT) by 0.9% during the fourth quarter, HoldingsChannel reports. The firm owned 38,361 shares of the medical technology company’s stock after selling 353 shares during the quarter. Vident Advisory LLC’s holdings in Medtronic were worth $3,064,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the company. Vivaldi Capital Management LP bought a new position in shares of Medtronic during the fourth quarter worth $14,984,000. Waters Parkerson & CO. LLC lifted its position in Medtronic by 33.6% in the 4th quarter. Waters Parkerson & CO. LLC now owns 6,953 shares of the medical technology company’s stock valued at $555,000 after acquiring an additional 1,750 shares in the last quarter. WBI Investments LLC lifted its position in Medtronic by 10.9% in the 4th quarter. WBI Investments LLC now owns 6,936 shares of the medical technology company’s stock valued at $554,000 after acquiring an additional 680 shares in the last quarter. St. Clair Advisors LLC bought a new stake in Medtronic in the 4th quarter valued at $892,000. Finally, Twinbeech Capital LP bought a new stake in Medtronic in the 4th quarter valued at $44,845,000. 82.06% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several equities research analysts recently commented on the stock. Needham & Company LLC reaffirmed a “hold” rating on shares of Medtronic in a research report on Monday. UBS Group boosted 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 raised shares of Medtronic from a “neutral” rating to a “buy” rating and boosted their price objective for the company from $92.00 to $107.00 in a research report on Tuesday, March 4th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $105.00 price objective on shares of Medtronic in a research report on Wednesday, February 19th. Finally, Robert W. Baird boosted their price objective on shares of Medtronic from $90.00 to $91.00 and gave the company a “neutral” rating in a research report on Wednesday, February 19th. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $96.14.

Medtronic Stock Down 0.9%

Shares of MDT stock opened at $86.19 on Wednesday. The company has a current ratio of 1.90, a quick ratio of 1.39 and a debt-to-equity ratio of 0.48. Medtronic plc has a 1 year low of $75.96 and a 1 year high of $96.25. The firm’s fifty day moving average price is $85.71 and its two-hundred day moving average price is $86.57. The firm has a market capitalization of $110.54 billion, a P/E ratio of 26.20, a PEG ratio of 2.22 and a beta of 0.81.

Medtronic (NYSE:MDT) last released its quarterly earnings data 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 company had revenue of $8.29 billion for the quarter, compared to analyst estimates of $8.33 billion. Medtronic had a net margin of 12.83% and a return on equity of 14.07%. On average, equities analysts predict that Medtronic plc will post 5.46 EPS for the current fiscal year.

Medtronic Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, April 11th. Stockholders of record on Friday, March 28th were paid a dividend of $0.70 per share. The ex-dividend date of this dividend was Friday, March 28th. This represents a $2.80 annualized dividend and a dividend yield of 3.25%. Medtronic’s dividend payout ratio is presently 85.11%.

Medtronic Profile

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.