Medtronic PLC (MDT) Shares Sold by SRS Capital Advisors Inc.

SRS Capital Advisors Inc. lessened its holdings in shares of Medtronic PLC (NYSE:MDT) by 17.0% during the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 4,511 shares of the medical technology company’s stock after selling 921 shares during the quarter. SRS Capital Advisors Inc.’s holdings in Medtronic were worth $444,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. Ballew Advisors Inc acquired a new stake in Medtronic during the 2nd quarter worth $100,000. Fort L.P. acquired a new stake in Medtronic during the 2nd quarter worth $121,000. Global Trust Asset Management LLC raised its stake in Medtronic by 112.1% during the 2nd quarter. Global Trust Asset Management LLC now owns 1,523 shares of the medical technology company’s stock worth $130,000 after buying an additional 805 shares during the period. Polaris Greystone Financial Group LLC raised its stake in Medtronic by 255.1% during the 3rd quarter. Polaris Greystone Financial Group LLC now owns 1,321 shares of the medical technology company’s stock worth $130,000 after buying an additional 949 shares during the period. Finally, Trustcore Financial Services LLC raised its stake in shares of Medtronic by 97.3% in the 2nd quarter. Trustcore Financial Services LLC now owns 1,760 shares of the medical technology company’s stock valued at $151,000 after purchasing an additional 868 shares during the period. 80.00% of the stock is currently owned by institutional investors and hedge funds.

In related news, EVP Hooman Hakami sold 26,159 shares of Medtronic stock in a transaction dated Friday, August 31st. The stock was sold at an average price of $96.29, for a total transaction of $2,518,850.11. Following the completion of the transaction, the executive vice president now owns 63,046 shares in the company, valued at $6,070,699.34. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Richard H. Anderson purchased 2,600 shares of Medtronic stock in a transaction that occurred on Thursday, August 23rd. The shares were acquired at an average price of $95.88 per share, with a total value of $249,288.00. The disclosure for this purchase can be found here. Insiders sold a total of 268,678 shares of company stock valued at $25,818,353 in the last 90 days. 0.28% of the stock is owned by corporate insiders.

Shares of NYSE MDT opened at $94.36 on Friday. The stock has a market capitalization of $127.11 billion, a PE ratio of 19.49, a P/E/G ratio of 2.50 and a beta of 0.94. The company has a debt-to-equity ratio of 0.47, a current ratio of 2.46 and a quick ratio of 2.06. Medtronic PLC has a fifty-two week low of $76.41 and a fifty-two week high of $100.15.

Medtronic (NYSE:MDT) last announced its quarterly earnings data on Tuesday, August 21st. The medical technology company reported $1.17 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.11 by $0.06. The company had revenue of $7.38 billion during the quarter, compared to analysts’ expectations of $7.24 billion. Medtronic had a return on equity of 12.98% and a net margin of 10.56%. Medtronic’s revenue for the quarter was down .1% compared to the same quarter last year. During the same quarter last year, the company earned $1.12 EPS. As a group, sell-side analysts forecast that Medtronic PLC will post 5.12 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which was paid on Friday, October 19th. Stockholders of record on Friday, September 28th were issued a $0.50 dividend. This represents a $2.00 annualized dividend and a dividend yield of 2.12%. The ex-dividend date of this dividend was Thursday, September 27th. Medtronic’s payout ratio is 41.93%.

Several analysts have issued reports on MDT shares. Needham & Company LLC raised Medtronic from a “buy” rating to a “strong-buy” rating and lifted their price target for the company from $103.00 to $119.00 in a research note on Monday, August 13th. Wells Fargo & Co lifted their price target on Medtronic from $95.00 to $101.00 and gave the company a “market perform” rating in a research note on Wednesday, August 22nd. Argus lifted their price target on Medtronic from $95.00 to $108.00 and gave the company a “buy” rating in a research note on Monday, August 27th. Leerink Swann lifted their price target on Medtronic from $95.00 to $100.00 and gave the company a “market perform” rating in a research note on Wednesday, August 22nd. Finally, Zacks Investment Research downgraded Medtronic from a “hold” rating to a “sell” rating in a research note on Tuesday, August 7th. Seven investment analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus price target of $102.58.

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About Medtronic

Medtronic plc develops, manufactures, distributes, and sells device-based medical therapies to hospitals, physicians, clinicians, and patients worldwide. It operates through four segments: Cardiac and Vascular Group, Minimally Invasive Therapies Group, Restorative Therapies Group, and Diabetes Group.

See Also: What is Liquidity?

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Institutional Ownership by Quarter for Medtronic (NYSE:MDT)

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