Sachetta LLC Has $130,000 Stock Holdings in Medtronic plc (NYSE:MDT)

Sachetta LLC decreased its stake in shares of Medtronic plc (NYSE:MDT) by 8.3% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,620 shares of the medical technology company’s stock after selling 146 shares during the period. Sachetta LLC’s holdings in Medtronic were worth $130,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in MDT. Public Sector Pension Investment Board increased its position in Medtronic by 68.1% in the second quarter. Public Sector Pension Investment Board now owns 51,014 shares of the medical technology company’s stock worth $4,015,000 after purchasing an additional 20,660 shares during the period. Marshall Wace LLP boosted its stake in shares of Medtronic by 1,192.9% in the 2nd quarter. Marshall Wace LLP now owns 267,936 shares of the medical technology company’s stock valued at $21,089,000 after purchasing an additional 247,213 shares during the last quarter. AQR Capital Management LLC grew its position in shares of Medtronic by 7.3% during the 2nd quarter. AQR Capital Management LLC now owns 1,445,131 shares of the medical technology company’s stock worth $113,486,000 after buying an additional 98,901 shares during the period. Daymark Wealth Partners LLC raised its stake in shares of Medtronic by 26.6% during the second quarter. Daymark Wealth Partners LLC now owns 41,566 shares of the medical technology company’s stock worth $3,272,000 after buying an additional 8,727 shares during the last quarter. Finally, MBB Public Markets I LLC lifted its holdings in Medtronic by 1,830.7% in the second quarter. MBB Public Markets I LLC now owns 93,869 shares of the medical technology company’s stock valued at $7,388,000 after buying an additional 89,007 shares during the period. Institutional investors own 82.06% of the company’s stock.

Insider Activity at Medtronic

In other Medtronic news, EVP Brett A. Wall sold 9,850 shares of the company’s stock in a transaction on Wednesday, January 8th. The shares were sold at an average price of $80.41, for a total value of $792,038.50. Following the transaction, the executive vice president now directly owns 40,708 shares in the company, valued at $3,273,330.28. The trade was a 19.48 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 0.20% of the stock is currently owned by company insiders.

Analyst Ratings Changes

MDT has been the subject of several recent research reports. Royal Bank of Canada upgraded shares of Medtronic from a “sector perform” rating to an “outperform” rating and upped their target price for the company from $98.00 to $105.00 in a research report on Thursday, October 10th. Needham & Company LLC reissued a “hold” rating on shares of Medtronic in a research note on Monday, November 18th. Evercore ISI boosted their target price on Medtronic from $100.00 to $104.00 and gave the stock an “outperform” rating in a research report on Tuesday, October 1st. Robert W. Baird cut their price target on shares of Medtronic from $96.00 to $93.00 and set a “neutral” rating on the stock in a research report on Wednesday, November 20th. Finally, Wells Fargo & Company decreased their price objective on shares of Medtronic from $106.00 to $98.00 and set an “overweight” rating for the company in a report on Wednesday, November 20th. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $95.00.

Medtronic Trading Up 0.9 %

Medtronic stock opened at $90.07 on Friday. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.84 and a quick ratio of 1.39. The firm has a 50-day moving average of $83.70 and a 200-day moving average of $85.41. The company has a market cap of $115.49 billion, a price-to-earnings ratio of 27.54, a P/E/G ratio of 2.49 and a beta of 0.83. Medtronic plc has a one year low of $75.96 and a one year high of $92.68.

Medtronic (NYSE:MDT) last posted its quarterly earnings results on Tuesday, November 19th. The medical technology company reported $1.26 earnings per share for the quarter, topping the consensus estimate of $1.25 by $0.01. Medtronic had a return on equity of 13.79% and a net margin of 13.00%. The firm had revenue of $8.40 billion for the quarter, compared to analyst estimates of $8.27 billion. During the same quarter in the previous year, the firm earned $1.25 EPS. The business’s quarterly revenue was up 5.2% on a year-over-year basis. On average, equities analysts expect that Medtronic plc will post 5.45 earnings per share for the current fiscal year.

Medtronic Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, January 10th. Stockholders of record on Friday, December 27th were issued a $0.70 dividend. The ex-dividend date was Friday, December 27th. This represents a $2.80 dividend on an annualized basis and a dividend yield of 3.11%. Medtronic’s payout ratio is 85.63%.

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.