Cypress Capital Group Trims Position in Medtronic plc (NYSE:MDT)

Cypress Capital Group decreased its stake in shares of Medtronic plc (NYSE:MDT) by 44.9% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 6,874 shares of the medical technology company’s stock after selling 5,599 shares during the period. Cypress Capital Group’s holdings in Medtronic were worth $549,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Mainstream Capital Management LLC acquired a new position in Medtronic during the fourth quarter worth approximately $26,000. Darwin Wealth Management LLC acquired a new position in Medtronic during the third quarter worth approximately $27,000. Stephens Consulting LLC increased its position in Medtronic by 145.7% during the fourth quarter. Stephens Consulting LLC now owns 344 shares of the medical technology company’s stock worth $27,000 after purchasing an additional 204 shares during the last quarter. J. Stern & Co. LLP acquired a new position in Medtronic during the third quarter worth approximately $30,000. Finally, Fiduciary Advisors Inc. acquired a new position in Medtronic during the fourth quarter worth approximately $36,000. Institutional investors and hedge funds own 82.06% of the company’s stock.

Medtronic Price Performance

MDT opened at $94.15 on Thursday. The company has a fifty day simple moving average of $87.82 and a 200 day simple moving average of $87.68. The firm has a market cap of $120.75 billion, a price-to-earnings ratio of 28.62, a PEG ratio of 2.22 and a beta of 0.84. Medtronic plc has a twelve month low of $75.96 and a twelve month high of $95.57. 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) last posted its quarterly earnings data on Tuesday, February 18th. The medical technology company reported $1.39 EPS for the quarter, beating analysts’ consensus estimates of $1.36 by $0.03. Medtronic had a net margin of 12.83% and a return on equity of 14.07%. The firm had revenue of $8.29 billion for the quarter, compared to the consensus estimate of $8.33 billion. Equities research analysts expect that Medtronic plc will post 5.46 EPS for the current fiscal year.

Insider Buying and Selling at Medtronic

In other Medtronic news, EVP Brett A. Wall sold 12,437 shares of the stock in a transaction on Friday, January 24th. The shares were sold at an average price of $90.00, for a total transaction of $1,119,330.00. Following the transaction, the executive vice president now directly owns 40,979 shares in the company, valued at $3,688,110. This represents a 23.28 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 0.20% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several equities analysts recently commented on MDT shares. Wells Fargo & Company dropped their price target on shares of Medtronic from $106.00 to $98.00 and set an “overweight” rating for the company in a research report on Wednesday, November 20th. Sanford C. Bernstein increased their price objective on shares of Medtronic from $96.00 to $97.00 and gave the stock an “outperform” rating in a research report on Wednesday, November 20th. Citigroup raised shares of Medtronic from a “neutral” rating to a “buy” rating and increased their price objective for the stock from $92.00 to $107.00 in a research report on Tuesday. Barclays increased their price objective on shares of Medtronic from $105.00 to $109.00 and gave the stock an “overweight” rating in a research report on Tuesday, November 26th. Finally, Royal Bank of Canada reissued an “outperform” rating and issued a $105.00 price objective on shares of Medtronic in a research report on Wednesday, February 19th. One research analyst has rated the stock with a sell rating, eight have given a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $96.07.

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.