Medtronic PLC (NYSE:MDT) Shares Sold by Callan Family Office LLC

Key Points

• Callan Family Office LLC has reduced its stake in Medtronic PLC by 49.3%, now holding 8,450 shares worth approximately $759,000, according to a recent SEC filing.
• Medtronic recently declared a quarterly dividend of $0.71 per share, an increase from the previous dividend of $0.70, resulting in a 3.1% dividend yield.
• Analysts have varied ratings on Medtronic, with recent upgrades pushing the average price target to $98.19, indicating a consensus rating of "Moderate Buy."

Callan Family Office LLC lessened its holdings in shares of Medtronic PLC (NYSE:MDT - Free Report) by 49.3% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 8,450 shares of the medical technology company's stock after selling 8,228 shares during the period. Callan Family Office LLC's holdings in Medtronic were worth $759,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Burkett Financial Services LLC boosted its position in shares of Medtronic by 185.0% during the first quarter. Burkett Financial Services LLC now owns 285 shares of the medical technology company's stock valued at $26,000 after buying an additional 185 shares during the period. Columbia River Financial Group LLC purchased a new position in shares of Medtronic during the first quarter valued at approximately $28,000. Wood Tarver Financial Group LLC purchased a new position in shares of Medtronic during the fourth quarter valued at approximately $27,000. Hughes Financial Services LLC purchased a new position in shares of Medtronic during the first quarter valued at approximately $32,000. Finally, Optiver Holding B.V. purchased a new position in shares of Medtronic during the fourth quarter valued at approximately $31,000. Hedge funds and other institutional investors own 82.06% of the company's stock.

Wall Street Analyst Weigh In

Several brokerages have issued reports on MDT. Evercore ISI boosted their target price on Medtronic from $103.00 to $106.00 and gave the company an "outperform" rating in a research report on Tuesday, July 8th. Royal Bank Of Canada lowered their price target on Medtronic from $105.00 to $101.00 and set an "outperform" rating for the company in a report on Thursday, May 22nd. Wolfe Research upgraded Medtronic from an "underperform" rating to a "peer perform" rating in a report on Monday, June 30th. Mizuho boosted their price target on Medtronic from $98.00 to $100.00 and gave the company an "outperform" rating in a report on Wednesday, July 16th. Finally, William Blair upgraded Medtronic to a "hold" rating in a report on Friday, July 11th. Twelve research analysts have rated the stock with a hold rating, nine have issued a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $98.19.

Medtronic Stock Up 1.1%

Medtronic stock traded up $1.00 during mid-day trading on Friday, reaching $92.98. 6,640,563 shares of the company were exchanged, compared to its average volume of 6,445,581. The business has a fifty day moving average of $89.32 and a 200 day moving average of $88.01. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.42 and a current ratio of 1.85. The firm has a market cap of $119.18 billion, a P/E ratio of 25.69, a PEG ratio of 2.42 and a beta of 0.80. Medtronic PLC has a 12-month low of $79.29 and a 12-month high of $96.25.

Medtronic (NYSE:MDT - Get Free Report) last posted its earnings results on Wednesday, May 21st. The medical technology company reported $1.62 earnings per share for the quarter, topping analysts' consensus estimates of $1.58 by $0.04. The company had revenue of $8.93 billion during the quarter, compared to analyst estimates of $8.81 billion. Medtronic had a return on equity of 14.54% and a net margin of 13.90%. Medtronic's revenue was up 3.9% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.46 earnings per share. Research analysts anticipate that Medtronic PLC will post 5.46 earnings per share for the current fiscal year.

Medtronic Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, October 17th. Investors of record on Friday, September 26th will be given a $0.71 dividend. This represents a $2.84 annualized dividend and a dividend yield of 3.1%. The ex-dividend date of this dividend is Friday, September 26th. Medtronic's dividend payout ratio is presently 78.45%.

Medtronic Company 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.