Medtronic plc (NYSE:MDT) Shares Sold by Thrivent Financial for Lutherans

Thrivent Financial for Lutherans lessened its position in shares of Medtronic plc (NYSE:MDT) by 46.4% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 703,796 shares of the medical technology company’s stock after selling 608,994 shares during the quarter. Thrivent Financial for Lutherans owned approximately 0.05% of Medtronic worth $56,727,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Darwin Wealth Management LLC acquired a new position in shares of Medtronic during the 3rd quarter worth $27,000. Mainstream Capital Management LLC acquired a new position in Medtronic in the 4th quarter valued at about $26,000. J. Stern & Co. LLP acquired a new position in Medtronic in the 3rd quarter valued at about $30,000. Rakuten Securities Inc. raised its stake in 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 during the last quarter. Finally, Stephens Consulting LLC raised its stake in 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 during the last quarter. Institutional investors and hedge funds own 82.06% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on MDT. Wells Fargo & Company cut their target price on shares of Medtronic from $106.00 to $98.00 and set an “overweight” rating for the company in a research note on Wednesday, November 20th. Sanford C. Bernstein boosted their target price on shares of Medtronic from $96.00 to $97.00 and gave the company an “outperform” rating in a research note on Wednesday, November 20th. Needham & Company LLC reissued a “hold” rating on shares of Medtronic in a research note on Wednesday, February 19th. Robert W. Baird upped their price objective on shares of Medtronic from $90.00 to $91.00 and gave the company a “neutral” rating in a research note on Wednesday, February 19th. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and set a $105.00 price objective on shares of Medtronic in a research note on Wednesday, February 19th. One research analyst has rated the stock with a sell rating, eight have issued a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $96.07.

Insiders Place Their Bets

In other Medtronic news, EVP Brett A. Wall sold 12,437 shares of the company’s stock in a transaction that occurred on Friday, January 24th. The stock was sold at an average price of $90.00, for a total value of $1,119,330.00. Following the completion of the transaction, the executive vice president now 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 Securities & Exchange Commission, which is available through the SEC website. 0.20% of the stock is owned by company insiders.

Medtronic Stock Down 0.5 %

Shares of NYSE:MDT opened at $91.78 on Thursday. The company has a debt-to-equity ratio of 0.48, a quick ratio of 1.39 and a current ratio of 1.90. Medtronic plc has a 1 year low of $75.96 and a 1 year high of $96.25. The stock has a market capitalization of $117.71 billion, a P/E ratio of 27.90, a PEG ratio of 2.22 and a beta of 0.80. The stock has a 50-day simple moving average of $90.30 and a 200-day simple moving average of $88.04.

Medtronic (NYSE:MDT) last issued its earnings results on Tuesday, February 18th. The medical technology company reported $1.39 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.36 by $0.03. Medtronic had a return on equity of 14.07% and a net margin of 12.83%. The business had revenue of $8.29 billion during the quarter, compared to analysts’ expectations of $8.33 billion. Equities analysts forecast that Medtronic plc will post 5.46 earnings per share for the current year.

Medtronic Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, April 11th. Shareholders of record on Friday, March 28th will be issued a $0.70 dividend. This represents a $2.80 dividend on an annualized basis and a yield of 3.05%. The ex-dividend date is Friday, March 28th. Medtronic’s dividend payout ratio is presently 85.11%.

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.