Insider Selling: Medtronic plc. (MDT) VP Sells 78,526 Shares of Stock

Medtronic plc. (NYSE:MDT) VP Richard Kuntz sold 78,526 shares of the company’s stock in a transaction on Tuesday, January 9th. The stock was sold at an average price of $86.21, for a total value of $6,769,726.46. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link.

Shares of Medtronic plc. (NYSE MDT) traded down $0.39 during mid-day trading on Wednesday, hitting $85.49. 3,326,879 shares of the company were exchanged, compared to its average volume of 5,832,472. The company has a current ratio of 2.40, a quick ratio of 2.05 and a debt-to-equity ratio of 0.50. The firm has a market capitalization of $116,240.00, a P/E ratio of 23.49, a P/E/G ratio of 2.35 and a beta of 0.99. Medtronic plc. has a 12-month low of $73.38 and a 12-month high of $89.72.

Medtronic (NYSE:MDT) last released its quarterly earnings data on Tuesday, November 21st. The medical technology company reported $1.07 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.99 by $0.08. Medtronic had a net margin of 16.93% and a return on equity of 12.63%. The company had revenue of $7.05 billion during the quarter, compared to the consensus estimate of $7.05 billion. During the same quarter in the prior year, the firm posted $1.12 earnings per share. Medtronic’s revenue for the quarter was down 4.0% on a year-over-year basis. equities analysts expect that Medtronic plc. will post 4.77 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, January 19th. Shareholders of record on Friday, December 29th will be paid a $0.46 dividend. The ex-dividend date of this dividend is Thursday, December 28th. This represents a $1.84 annualized dividend and a yield of 2.15%. Medtronic’s dividend payout ratio is presently 50.55%.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in MDT. Captrust Financial Advisors purchased a new stake in shares of Medtronic in the second quarter valued at about $384,000. Wesbanco Bank Inc. raised its holdings in shares of Medtronic by 3.1% in the second quarter. Wesbanco Bank Inc. now owns 10,170 shares of the medical technology company’s stock valued at $903,000 after buying an additional 308 shares during the last quarter. Dupont Capital Management Corp raised its holdings in shares of Medtronic by 28.8% in the second quarter. Dupont Capital Management Corp now owns 74,052 shares of the medical technology company’s stock valued at $6,572,000 after buying an additional 16,562 shares during the last quarter. Chilton Investment Co. LLC raised its holdings in shares of Medtronic by 6.1% in the second quarter. Chilton Investment Co. LLC now owns 26,842 shares of the medical technology company’s stock valued at $2,382,000 after buying an additional 1,538 shares during the last quarter. Finally, Moors & Cabot Inc. raised its holdings in shares of Medtronic by 0.4% in the second quarter. Moors & Cabot Inc. now owns 43,227 shares of the medical technology company’s stock valued at $3,842,000 after buying an additional 178 shares during the last quarter. Institutional investors own 81.72% of the company’s stock.

A number of analysts have recently weighed in on the company. Stifel Nicolaus upped their price objective on Medtronic from $83.00 to $85.00 and gave the stock a “hold” rating in a research report on Wednesday, November 22nd. Oppenheimer reaffirmed a “buy” rating and set a $94.00 price objective on shares of Medtronic in a research report on Wednesday, November 22nd. Northland Securities reaffirmed a “hold” rating and set a $80.00 price objective on shares of Medtronic in a research report on Wednesday, November 22nd. Zacks Investment Research raised Medtronic from a “sell” rating to a “hold” rating in a research report on Thursday, November 23rd. Finally, Jefferies Group reiterated a “buy” rating and set a $99.00 target price on shares of Medtronic in a research note on Thursday, November 23rd. Two analysts have rated the stock with a sell rating, nine have assigned a hold rating and fifteen have assigned a buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus price target of $89.65.

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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.

Insider Buying and Selling by Quarter for Medtronic (NYSE:MDT)

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