Fieldpoint Private Securities LLC Reduces Position in Medtronic plc. (MDT)

Fieldpoint Private Securities LLC reduced its position in shares of Medtronic plc. (NYSE:MDT) by 59.5% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,830 shares of the medical technology company’s stock after selling 2,692 shares during the period. Fieldpoint Private Securities LLC’s holdings in Medtronic were worth $148,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also recently added to or reduced their stakes in the stock. Quadrant Capital Group LLC raised its holdings in Medtronic by 21.5% in the 2nd quarter. Quadrant Capital Group LLC now owns 1,639 shares of the medical technology company’s stock valued at $114,000 after acquiring an additional 290 shares in the last quarter. Blue Chip Partners Inc. acquired a new position in Medtronic in the 3rd quarter valued at $118,000. BB&T Investment Services Inc. raised its holdings in Medtronic by 147.6% in the 4th quarter. BB&T Investment Services Inc. now owns 1,518 shares of the medical technology company’s stock valued at $126,000 after acquiring an additional 905 shares in the last quarter. Barrett Asset Management LLC raised its holdings in Medtronic by 856.0% in the 4th quarter. Barrett Asset Management LLC now owns 1,826 shares of the medical technology company’s stock valued at $147,000 after acquiring an additional 1,635 shares in the last quarter. Finally, Westwood Holdings Group Inc. acquired a new position in Medtronic in the 2nd quarter valued at $151,000. 81.19% of the stock is owned by institutional investors and hedge funds.

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In other Medtronic news, VP Richard Kuntz sold 78,526 shares of the company’s stock in a transaction dated Tuesday, January 9th. The stock was sold at an average price of $86.21, for a total value of $6,769,726.46. Following the sale, the vice president now owns 149,761 shares in the company, valued at approximately $12,910,895.81. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director James T. Lenehan sold 1,306 shares of the company’s stock in a transaction dated Tuesday, March 13th. The shares were sold at an average price of $83.56, for a total value of $109,129.36. The disclosure for this sale can be found here. Insiders sold a total of 130,469 shares of company stock worth $11,016,054 in the last quarter. Corporate insiders own 0.31% of the company’s stock.

MDT has been the subject of several analyst reports. Evercore ISI initiated coverage on Medtronic in a report on Wednesday, January 3rd. They issued an “outperform” rating and a $92.50 price objective for the company. Citigroup reaffirmed a “buy” rating and issued a $93.00 price objective (down from $100.00) on shares of Medtronic in a report on Thursday, February 22nd. Oppenheimer reaffirmed a “buy” rating on shares of Medtronic in a report on Thursday, December 21st. BMO Capital Markets lifted their price objective on Medtronic to $94.00 and gave the company an “outperform” rating in a report on Tuesday, December 12th. Finally, Northland Securities reissued a “hold” rating and set a $80.00 price target on shares of Medtronic in a report on Wednesday, November 22nd. One analyst has rated the stock with a sell rating, eight have issued a hold rating and sixteen have assigned a buy rating to the stock. Medtronic has an average rating of “Buy” and a consensus target price of $91.50.

Shares of Medtronic plc. (NYSE MDT) opened at $80.43 on Tuesday. Medtronic plc. has a 52-week low of $76.51 and a 52-week high of $89.72. The company has a market capitalization of $110,178.27, a PE ratio of 39.62, a price-to-earnings-growth ratio of 2.31 and a beta of 0.97. The company has a debt-to-equity ratio of 0.51, a current ratio of 2.43 and a quick ratio of 2.09.

Medtronic (NYSE:MDT) last released its quarterly earnings results on Tuesday, February 20th. The medical technology company reported $1.17 EPS for the quarter, beating analysts’ consensus estimates of $1.16 by $0.01. Medtronic had a return on equity of 12.65% and a net margin of 9.44%. The firm had revenue of $7.37 billion for the quarter, compared to analyst estimates of $7.20 billion. During the same quarter in the previous year, the company posted $1.12 EPS. The business’s revenue was up 1.2% on a year-over-year basis. equities research analysts expect that Medtronic plc. will post 4.75 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Friday, April 13th. Shareholders of record on Friday, March 23rd will be given a $0.46 dividend. The ex-dividend date is Thursday, March 22nd. This represents a $1.84 dividend on an annualized basis and a dividend yield of 2.29%. Medtronic’s dividend payout ratio (DPR) is presently 90.64%.

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About Medtronic

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.

Institutional Ownership by Quarter for Medtronic (NYSE:MDT)

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