Medtronic plc (NYSE:MDT) Shares Sold by Western Wealth Management LLC

Western Wealth Management LLC lowered its stake in shares of Medtronic plc (NYSE:MDT - Free Report) by 28.4% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 15,055 shares of the medical technology company's stock after selling 5,964 shares during the quarter. Western Wealth Management LLC's holdings in Medtronic were worth $1,203,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently bought and sold shares of MDT. Mainstream Capital Management LLC purchased a new position in Medtronic in the fourth quarter worth approximately $26,000. Stephens Consulting LLC raised its holdings in shares of Medtronic by 145.7% in the 4th quarter. Stephens Consulting LLC now owns 344 shares of the medical technology company's stock valued at $27,000 after purchasing an additional 204 shares in the last quarter. Rakuten Securities Inc. raised its holdings in shares of Medtronic by 753.8% in the 4th quarter. Rakuten Securities Inc. now owns 333 shares of the medical technology company's stock valued at $27,000 after purchasing an additional 294 shares in the last quarter. Optiver Holding B.V. purchased a new stake in shares of Medtronic during the 4th quarter worth $31,000. Finally, Chapman Financial Group LLC acquired a new position in shares of Medtronic during the fourth quarter worth $33,000. Hedge funds and other institutional investors own 82.06% of the company's stock.

Medtronic Stock Performance

Shares of NYSE MDT traded up $0.60 during midday trading on Wednesday, reaching $81.78. 2,908,088 shares of the company were exchanged, compared to its average volume of 6,802,522. The stock has a market cap of $104.89 billion, a P/E ratio of 24.85, a PEG ratio of 2.22 and a beta of 0.81. Medtronic plc has a 1 year low of $75.96 and a 1 year high of $96.25. The stock has a fifty day simple moving average of $84.64 and a 200 day simple moving average of $86.31. 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 (NYSE:MDT - Get Free Report) last announced its quarterly earnings data on Wednesday, May 21st. The medical technology company reported $1.62 EPS 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 the consensus estimate of $8.81 billion. Medtronic had a net margin of 12.83% and a return on equity of 14.07%. Medtronic's quarterly revenue was up 3.9% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.46 EPS. On average, research analysts forecast that Medtronic plc will post 5.46 earnings per share for the current fiscal year.

Medtronic Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, July 11th. Investors of record on Friday, June 27th will be issued a dividend of $0.71 per share. This represents a $2.84 dividend on an annualized basis and a yield of 3.47%. The ex-dividend date of this dividend is Friday, June 27th. This is a positive change from Medtronic's previous quarterly dividend of $0.70. Medtronic's dividend payout ratio is currently 78.45%.

Analyst Ratings Changes

MDT has been the topic of a number of analyst reports. Royal Bank of Canada cut their price target on Medtronic from $105.00 to $101.00 and set an "outperform" rating on the stock in a research note on Thursday, May 22nd. UBS Group raised their target price on Medtronic from $85.00 to $95.00 and gave the stock a "neutral" rating in a research report on Wednesday, February 19th. Citigroup upgraded Medtronic from a "neutral" rating to a "buy" rating and boosted their target price for the stock from $92.00 to $107.00 in a research note on Tuesday, March 4th. Needham & Company LLC reiterated a "hold" rating on shares of Medtronic in a research note on Monday, May 19th. Finally, Mizuho reduced their price objective on shares of Medtronic from $100.00 to $98.00 and set an "outperform" rating for the company in a research report on Thursday, May 22nd. One research analyst has rated the stock with a sell rating, nine have given a hold rating, seven have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus price target of $96.07.

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.