Berkshire Asset Management LLC PA Sells 14,469 Shares of Medtronic plc (NYSE:MDT)

Berkshire Asset Management LLC PA reduced its position in Medtronic plc (NYSE:MDT) by 18.6% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 63,321 shares of the medical technology company’s stock after selling 14,469 shares during the period. Berkshire Asset Management LLC PA’s holdings in Medtronic were worth $5,058,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors also recently modified their holdings of the company. Andra AP fonden boosted its position in Medtronic by 153.3% in the fourth quarter. Andra AP fonden now owns 46,929 shares of the medical technology company’s stock worth $3,749,000 after purchasing an additional 28,400 shares during the last quarter. Ashton Thomas Private Wealth LLC grew its position in Medtronic by 68.5% during the fourth quarter. Ashton Thomas Private Wealth LLC now owns 22,576 shares of the medical technology company’s stock valued at $1,819,000 after buying an additional 9,181 shares during the period. Callan Family Office LLC increased its holdings in Medtronic by 348.0% during the fourth quarter. Callan Family Office LLC now owns 16,678 shares of the medical technology company’s stock valued at $1,332,000 after buying an additional 12,955 shares during the last quarter. Hartford Funds Management Co LLC raised its position in Medtronic by 2.5% in the fourth quarter. Hartford Funds Management Co LLC now owns 8,283 shares of the medical technology company’s stock worth $662,000 after acquiring an additional 201 shares during the period. Finally, E Fund Management Co. Ltd. boosted its stake in shares of Medtronic by 81.5% during the 4th quarter. E Fund Management Co. Ltd. now owns 7,132 shares of the medical technology company’s stock worth $570,000 after acquiring an additional 3,202 shares during the last quarter. Institutional investors own 82.06% of the company’s stock.

Medtronic Price Performance

Shares of Medtronic stock opened at $93.22 on Friday. The firm has a market cap of $119.56 billion, a PE ratio of 28.33, a PEG ratio of 2.22 and a beta of 0.84. The stock has a 50 day moving average of $88.06 and a 200 day moving average of $87.72. 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 plc has a 12 month low of $75.96 and a 12 month high of $95.57.

Medtronic (NYSE:MDT) last posted its earnings results 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 return on equity of 14.07% and a net margin of 12.83%. The firm had revenue of $8.29 billion during the quarter, compared to the consensus estimate of $8.33 billion. On average, research analysts expect that Medtronic plc will post 5.46 EPS for the current fiscal year.

Medtronic Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, April 11th. Stockholders 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 dividend yield of 3.00%. Medtronic’s dividend payout ratio (DPR) is presently 85.11%.

Insider Activity

In other news, EVP Brett A. Wall sold 9,850 shares of the business’s stock in a transaction that occurred on Wednesday, January 8th. The stock was sold at an average price of $80.41, for a total transaction of $792,038.50. Following the transaction, the executive vice president now owns 40,708 shares of the company’s stock, valued at approximately $3,273,330.28. The trade was a 19.48 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Corporate insiders own 0.20% of the company’s stock.

Analyst Ratings Changes

MDT has been the topic of a number of recent research reports. Sanford C. Bernstein raised their target price on Medtronic from $96.00 to $97.00 and gave the stock an “outperform” rating in a report on Wednesday, November 20th. Barclays raised their price objective on Medtronic from $105.00 to $109.00 and gave the stock an “overweight” rating in a research note on Tuesday, November 26th. JPMorgan Chase & Co. cut their price objective on Medtronic from $99.00 to $96.00 and set a “neutral” rating for the company in a research note on Friday, November 15th. Royal Bank of Canada restated an “outperform” rating and set a $105.00 target price on shares of Medtronic in a research note on Wednesday, February 19th. Finally, Citigroup upgraded shares of Medtronic from a “neutral” rating to a “buy” rating and upped their price target for the stock from $92.00 to $107.00 in a research report on Tuesday. One analyst has rated the stock with a sell rating, eight have assigned a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, Medtronic presently has a consensus rating of “Hold” and an average price target of $96.07.

About Medtronic

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.