Medtronic PLC $MDT Shares Sold by Creative Financial Designs Inc. ADV

Creative Financial Designs Inc. ADV cut its position in Medtronic PLC (NYSE:MDT) by 33.8% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 18,124 shares of the medical technology company’s stock after selling 9,265 shares during the quarter. Creative Financial Designs Inc. ADV’s holdings in Medtronic were worth $1,741,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. Lodestone Wealth Management LLC acquired a new stake in shares of Medtronic in the 4th quarter valued at about $27,000. Anfield Capital Management LLC lifted its position in Medtronic by 410.7% during the 4th quarter. Anfield Capital Management LLC now owns 286 shares of the medical technology company’s stock worth $27,000 after acquiring an additional 230 shares during the period. Board of the Pension Protection Fund acquired a new stake in Medtronic during the 4th quarter worth approximately $29,000. GoalVest Advisory LLC acquired a new stake in Medtronic during the 4th quarter worth approximately $29,000. Finally, Valley Wealth Managers Inc. acquired a new stake in Medtronic during the 3rd quarter worth approximately $29,000. 82.06% of the stock is owned by institutional investors and hedge funds.

More Medtronic News

Here are the key news stories impacting Medtronic this week:

• Positive Sentiment: Medtronic announced plans to acquire privately held SPR Therapeutics for about $650 million in cash, a deal that should expand its neuromodulation franchise and add temporary peripheral nerve stimulation technology for chronic pain treatment. Article: Medtronic announces intent to acquire SPR Therapeutics, Inc., expanding care options for people living with chronic pain
• Positive Sentiment: Broader healthcare trading was mixed but stable, which suggests the stock’s move is more about company news than a sector-wide selloff. Article: Sector Update: Healthcare Stocks Mixed Late Afternoon
• Neutral Sentiment: Medtronic also named Kweli Thompson to lead its neuroscience portfolio, a leadership change that keeps attention on execution in one of its key growth businesses. Article: Medtronic, BD name new leaders
• Negative Sentiment: Investors appear to be weighing the $650 million cash outlay and integration risk from the SPR deal, which may be pressuring the shares in the near term. Article: Medtronic (MDT) Stock Slides as Company Announces $650M SPR Therapeutics Deal

Analyst Ratings Changes

A number of analysts have weighed in on the company. Needham & Company LLC reaffirmed a “buy” rating and set a $120.00 price objective on shares of Medtronic in a research report on Thursday, March 26th. Evercore set a $106.00 price objective on Medtronic and gave the stock an “outperform” rating in a research report on Thursday, April 9th. Robert W. Baird increased their price objective on Medtronic from $92.00 to $93.00 and gave the stock a “neutral” rating in a research report on Wednesday, April 15th. Leerink Partners reaffirmed an “outperform” rating and set a $119.00 price objective on shares of Medtronic in a research report on Tuesday, March 10th. Finally, UBS Group decreased their price objective on Medtronic from $104.00 to $90.00 and set a “neutral” rating for the company in a research report on Wednesday, April 22nd. Fifteen research analysts have rated the stock with a Buy rating and eleven have given a Hold rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $107.80.

Medtronic Stock Performance

Shares of MDT stock opened at $78.09 on Thursday. The company has a market cap of $100.26 billion, a price-to-earnings ratio of 21.75, a price-to-earnings-growth ratio of 1.87 and a beta of 0.62. The stock has a 50 day simple moving average of $83.94 and a 200-day simple moving average of $93.34. Medtronic PLC has a 12-month low of $74.40 and a 12-month high of $106.33. The company has a current ratio of 2.54, a quick ratio of 1.87 and a debt-to-equity ratio of 0.57.

Medtronic (NYSE:MDT) last issued its earnings results on Tuesday, February 17th. The medical technology company reported $1.36 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.34 by $0.02. The business had revenue of $9.02 billion during the quarter, compared to the consensus estimate of $8.89 billion. Medtronic had a return on equity of 14.82% and a net margin of 13.00%.The company’s revenue for the quarter was up 5.8% on a year-over-year basis. During the same period in the prior year, the business posted $1.38 EPS. On average, equities analysts forecast that Medtronic PLC will post 5.56 EPS for the current year.

Medtronic Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, April 17th. Investors of record on Friday, March 27th were paid a $0.71 dividend. This represents a $2.84 annualized dividend and a yield of 3.6%. The ex-dividend date of this dividend was Friday, March 27th. Medtronic’s dividend payout ratio (DPR) is presently 79.11%.

About Medtronic

Medtronic plc is a global medical technology company that develops and manufactures a broad range of therapeutic devices and health care solutions. Headquartered legally in Ireland with principal operational offices in the United States, the company markets products to hospitals, physicians and health systems worldwide and has grown from its founding in 1949 into one of the largest medical-device manufacturers serving global health-care markets.

Medtronic’s offerings span several clinical areas, including cardiac rhythm and heart failure (pacemakers, implantable cardioverter‑defibrillators and related cardiac therapies), minimally invasive and surgical technologies (laparoscopic and advanced energy devices, visualization systems and surgical innovations), restorative therapies (spine and orthopedics, neuromodulation and neurovascular treatments) and diabetes management (insulin-delivery systems and glucose monitoring solutions).