Nisa Investment Advisors LLC Sells 5,038 Shares of Medtronic plc. (MDT)

Nisa Investment Advisors LLC lessened its stake in Medtronic plc. (NYSE:MDT) by 1.0% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 481,536 shares of the medical technology company’s stock after selling 5,038 shares during the period. Nisa Investment Advisors LLC’s holdings in Medtronic were worth $38,884,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. Hudock Capital Group LLC grew its position in Medtronic by 0.5% in the 2nd quarter. Hudock Capital Group LLC now owns 2,195 shares of the medical technology company’s stock valued at $194,000 after buying an additional 11 shares in the last quarter. IFC Holdings Incorporated FL grew its position in Medtronic by 0.3% in the 2nd quarter. IFC Holdings Incorporated FL now owns 5,673 shares of the medical technology company’s stock valued at $501,000 after buying an additional 17 shares in the last quarter. Arcus Capital Partners LLC grew its position in Medtronic by 0.8% in the 2nd quarter. Arcus Capital Partners LLC now owns 3,249 shares of the medical technology company’s stock valued at $288,000 after buying an additional 25 shares in the last quarter. Hanson McClain Inc. grew its position in Medtronic by 0.5% in the 2nd quarter. Hanson McClain Inc. now owns 7,281 shares of the medical technology company’s stock valued at $646,000 after buying an additional 35 shares in the last quarter. Finally, Fiera Capital Corp grew its position in Medtronic by 0.5% in the 2nd quarter. Fiera Capital Corp now owns 6,832 shares of the medical technology company’s stock valued at $606,000 after buying an additional 37 shares in the last quarter. Hedge funds and other institutional investors own 81.75% of the company’s stock.

Medtronic plc. (MDT) opened at $85.32 on Wednesday. Medtronic plc. has a 12-month low of $73.59 and a 12-month high of $89.72. The company has a debt-to-equity ratio of 0.50, a quick ratio of 2.05 and a current ratio of 2.40. The firm has a market cap of $115,656.39, a PE ratio of 23.38, a PEG ratio of 2.35 and a beta of 1.00.

Medtronic (NYSE:MDT) last posted its quarterly earnings data on Tuesday, November 21st. The medical technology company reported $1.07 EPS for the quarter, beating analysts’ consensus estimates of $0.99 by $0.08. Medtronic had a net margin of 16.93% and a return on equity of 12.63%. The company had revenue of $7.05 billion during the quarter, compared to analyst estimates of $7.05 billion. During the same period in the prior year, the firm earned $1.12 earnings per share. The business’s quarterly revenue was down 4.0% on a year-over-year basis. sell-side analysts expect that Medtronic plc. will post 4.77 earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, January 19th. Shareholders of record on Friday, December 29th will be paid a dividend of $0.46 per share. This represents a $1.84 dividend on an annualized basis and a yield of 2.16%. The ex-dividend date is Thursday, December 28th. Medtronic’s dividend payout ratio is presently 50.41%.

In other Medtronic news, VP Richard Kuntz sold 78,526 shares of the company’s stock in a transaction dated Tuesday, January 9th. The shares were sold at an average price of $86.21, for a total transaction of $6,769,726.46. Following the completion of the sale, the vice president now directly owns 149,761 shares of the company’s stock, valued at $12,910,895.81. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Hooman Hakami sold 26,158 shares of the company’s stock in a transaction dated Friday, January 5th. The shares were sold at an average price of $85.00, for a total transaction of $2,223,430.00. The disclosure for this sale can be found here. Insiders have sold 136,684 shares of company stock valued at $11,582,596 over the last ninety days. Insiders own 0.31% of the company’s stock.

MDT has been the subject of a number of recent analyst reports. Needham & Company LLC reiterated a “buy” rating and issued a $94.00 target price on shares of Medtronic in a research report on Thursday, November 9th. SunTrust Banks set a $92.00 target price on shares of Medtronic and gave the company a “buy” rating in a research report on Sunday, November 19th. Royal Bank of Canada decreased their target price on shares of Medtronic from $90.00 to $85.00 and set an “outperform” rating for the company in a research report on Monday, October 9th. Evercore ISI began coverage on shares of Medtronic in a research report on Wednesday, January 3rd. They issued an “outperform” rating and a $92.50 target price for the company. Finally, BMO Capital Markets restated an “outperform” rating and set a $89.00 price objective (down previously from $92.00) on shares of Medtronic in a research report on Tuesday, October 10th. Two research analysts have rated the stock with a sell rating, nine have given a hold rating and fifteen have assigned a buy rating to the company. Medtronic presently has a consensus rating of “Buy” and a consensus target price of $89.65.

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Medtronic Company Profile

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.

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Institutional Ownership by Quarter for Medtronic (NYSE:MDT)

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