Sandy Spring Bank Decreases Position in Medtronic plc. (MDT)

Sandy Spring Bank cut its holdings in Medtronic plc. (NYSE:MDT) by 4.5% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 23,430 shares of the medical technology company’s stock after selling 1,102 shares during the quarter. Sandy Spring Bank’s holdings in Medtronic were worth $1,892,000 as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. Hudock Capital Group LLC grew its stake in Medtronic by 0.5% during the 2nd quarter. Hudock Capital Group LLC now owns 2,195 shares of the medical technology company’s stock valued at $194,000 after acquiring an additional 11 shares in the last quarter. Arcus Capital Partners LLC grew its stake in Medtronic by 0.8% during the 2nd quarter. Arcus Capital Partners LLC now owns 3,249 shares of the medical technology company’s stock valued at $288,000 after acquiring an additional 25 shares in the last quarter. Hanson McClain Inc. grew its stake in Medtronic by 0.5% during the 2nd quarter. Hanson McClain Inc. now owns 7,281 shares of the medical technology company’s stock valued at $646,000 after acquiring an additional 35 shares in the last quarter. Fiera Capital Corp grew its stake in Medtronic by 0.5% during the 2nd quarter. Fiera Capital Corp now owns 6,832 shares of the medical technology company’s stock valued at $606,000 after acquiring an additional 37 shares in the last quarter. Finally, Chemical Bank grew its stake in Medtronic by 0.4% during the 2nd quarter. Chemical Bank now owns 11,623 shares of the medical technology company’s stock valued at $1,031,000 after acquiring an additional 46 shares in the last quarter. Hedge funds and other institutional investors own 81.91% of the company’s stock.

In other Medtronic news, EVP Hooman Hakami sold 26,158 shares of the stock in a transaction dated Friday, January 5th. The stock was sold at an average price of $85.00, for a total value of $2,223,430.00. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Bryan C. Hanson sold 16,000 shares of the stock in a transaction dated Thursday, November 16th. The shares were sold at an average price of $79.02, for a total value of $1,264,320.00. The disclosure for this sale can be found here. Insiders have sold 136,684 shares of company stock worth $11,582,596 in the last ninety days. 0.31% of the stock is currently owned by insiders.

Shares of Medtronic plc. (NYSE MDT) traded up $1.41 on Wednesday, hitting $81.63. The stock had a trading volume of 2,819,161 shares, compared to its average volume of 5,494,966. The company has a quick ratio of 2.05, a current ratio of 2.40 and a debt-to-equity ratio of 0.50. Medtronic plc. has a twelve month low of $76.51 and a twelve month high of $89.72. The firm has a market capitalization of $108,580.00, a price-to-earnings ratio of 22.42, a PEG ratio of 2.21 and a beta of 0.93.

Medtronic (NYSE:MDT) last issued its quarterly earnings results on Tuesday, November 21st. The medical technology company reported $1.07 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.99 by $0.08. Medtronic had a return on equity of 12.63% and a net margin of 16.93%. The business had revenue of $7.05 billion for the quarter, compared to analyst estimates of $7.05 billion. During the same quarter in the prior year, the firm posted $1.12 earnings per share. The firm’s revenue for the quarter was down 4.0% compared to the same quarter last year. equities analysts predict that Medtronic plc. will post 4.76 EPS for the current fiscal year.

The company also recently declared a quarterly dividend, which was paid on Friday, January 19th. Stockholders of record on Friday, December 29th were paid a dividend of $0.46 per share. This represents a $1.84 annualized dividend and a dividend yield of 2.25%. The ex-dividend date of this dividend was Thursday, December 28th. Medtronic’s dividend payout ratio (DPR) is presently 50.55%.

MDT has been the subject of several recent research reports. Needham & Company LLC restated a “buy” rating and issued a $94.00 target price on shares of Medtronic in a report on Thursday, November 9th. SunTrust Banks set a $92.00 price target on Medtronic and gave the stock a “buy” rating in a report on Sunday, November 19th. Evercore ISI initiated coverage on Medtronic in a report on Wednesday, January 3rd. They set an “outperform” rating and a $92.50 price target for the company. Oppenheimer reiterated a “buy” rating on shares of Medtronic in a report on Thursday, December 21st. Finally, BMO Capital Markets upped their price target on Medtronic to $94.00 and gave the stock an “outperform” rating in a report on Tuesday, December 12th. Two research analysts have rated the stock with a sell rating, nine have issued a hold rating and fifteen have assigned a buy rating to the company. Medtronic presently has an average rating of “Buy” and a consensus price target of $90.45.

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About Medtronic

Medtronic Public Limited Company (Medtronic) is a medical technology and services company. The Company develops, manufactures and markets its medical devices and technologies to hospitals, physicians, clinicians and patients in approximately 160 countries. The Company operates in four segments: Cardiac and Vascular Group, Minimally Invasive Technologies Group, Restorative Therapies Group and Diabetes Group.

Institutional Ownership by Quarter for Medtronic (NYSE:MDT)

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