Augustine Asset Management Inc. Sells 764 Shares of Medtronic plc (NYSE:MDT)

Augustine Asset Management Inc. lowered its position in Medtronic plc (NYSE:MDT) by 2.0% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 36,717 shares of the medical technology company’s stock after selling 764 shares during the period. Medtronic comprises approximately 0.8% of Augustine Asset Management Inc.’s holdings, making the stock its 26th largest position. Augustine Asset Management Inc.’s holdings in Medtronic were worth $2,933,000 at the end of the most recent quarter.

A number of other institutional investors have also bought and sold shares of MDT. Clear Harbor Asset Management LLC lifted its stake in Medtronic by 1.2% during the 3rd quarter. Clear Harbor Asset Management LLC now owns 9,558 shares of the medical technology company’s stock valued at $861,000 after acquiring an additional 111 shares during the period. Guardian Wealth Management Inc. raised its holdings in shares of Medtronic by 0.9% during the third quarter. Guardian Wealth Management Inc. now owns 13,131 shares of the medical technology company’s stock worth $1,182,000 after purchasing an additional 115 shares during the last quarter. First City Capital Management Inc. lifted its position in Medtronic by 2.9% during the third quarter. First City Capital Management Inc. now owns 4,123 shares of the medical technology company’s stock valued at $371,000 after purchasing an additional 116 shares during the period. Hardy Reed LLC boosted its holdings in Medtronic by 4.4% in the third quarter. Hardy Reed LLC now owns 2,743 shares of the medical technology company’s stock valued at $247,000 after purchasing an additional 116 shares during the last quarter. Finally, Precision Wealth Strategies LLC grew its position in Medtronic by 3.3% during the 3rd quarter. Precision Wealth Strategies LLC now owns 3,741 shares of the medical technology company’s stock worth $337,000 after purchasing an additional 118 shares during the period. Hedge funds and other institutional investors own 82.06% of the company’s stock.

Insider Buying and Selling

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

Wall Street Analysts Forecast Growth

MDT has been the subject of several analyst reports. Sanford C. Bernstein boosted their price objective on Medtronic from $96.00 to $97.00 and gave the company an “outperform” rating in a report on Wednesday, November 20th. JPMorgan Chase & Co. lowered their price objective on Medtronic from $99.00 to $96.00 and set a “neutral” rating on the stock in a research report on Friday, November 15th. 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 report on Wednesday, November 20th. Barclays increased their price target on shares of Medtronic from $105.00 to $109.00 and gave the stock an “overweight” rating in a report on Tuesday, November 26th. Finally, Robert W. Baird cut their price objective on shares of Medtronic from $96.00 to $93.00 and set a “neutral” rating for the company in a report on Wednesday, November 20th. One investment analyst has rated the stock with a sell rating, nine have given a hold rating, six have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $95.00.

Medtronic Price Performance

NYSE:MDT opened at $91.18 on Wednesday. The firm has a market cap of $116.92 billion, a P/E ratio of 27.88, a price-to-earnings-growth ratio of 2.57 and a beta of 0.84. The stock has a 50 day moving average of $84.93 and a two-hundred day moving average of $86.56. Medtronic plc has a 12 month low of $75.96 and a 12 month high of $93.08. The company has a current ratio of 1.84, a quick ratio of 1.39 and a debt-to-equity ratio of 0.51.

Medtronic (NYSE:MDT) last posted its quarterly earnings data on Tuesday, November 19th. The medical technology company reported $1.26 EPS for the quarter, beating 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 during the quarter, compared to the consensus estimate of $8.27 billion. During the same period in the prior year, the company earned $1.25 EPS. The firm’s revenue was up 5.2% compared to the same quarter last year. On average, analysts expect that Medtronic plc will post 5.45 earnings per share for the current fiscal year.

Medtronic Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, January 10th. Investors of record on Friday, December 27th were given a dividend of $0.70 per share. The ex-dividend date was Friday, December 27th. This represents a $2.80 dividend on an annualized basis and a yield of 3.07%. Medtronic’s payout ratio is presently 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.