Princeton Global Asset Management LLC Sells 99 Shares of Medtronic plc (NYSE:MDT)


Share on StockTwits

Princeton Global Asset Management LLC trimmed its position in Medtronic plc (NYSE:MDT) by 0.5% during the fourth quarter, HoldingsChannel.com reports. The firm owned 19,773 shares of the medical technology company’s stock after selling 99 shares during the quarter. Princeton Global Asset Management LLC’s holdings in Medtronic were worth $2,316,000 as of its most recent SEC filing.

Other institutional investors have also recently modified their holdings of the company. Meridian Wealth Management LLC lifted its holdings in shares of Medtronic by 34.1% in the fourth quarter. Meridian Wealth Management LLC now owns 3,566 shares of the medical technology company’s stock valued at $417,000 after purchasing an additional 906 shares in the last quarter. Toth Financial Advisory Corp raised its holdings in Medtronic by 2.0% during the fourth quarter. Toth Financial Advisory Corp now owns 63,711 shares of the medical technology company’s stock worth $7,463,000 after acquiring an additional 1,241 shares in the last quarter. RNC Capital Management LLC bought a new stake in Medtronic during the fourth quarter worth about $2,249,000. Peapack Gladstone Financial Corp raised its holdings in Medtronic by 0.9% during the third quarter. Peapack Gladstone Financial Corp now owns 50,583 shares of the medical technology company’s stock worth $5,256,000 after acquiring an additional 433 shares in the last quarter. Finally, First City Capital Management Inc. raised its holdings in Medtronic by 88.9% during the third quarter. First City Capital Management Inc. now owns 13,157 shares of the medical technology company’s stock worth $1,415,000 after acquiring an additional 6,191 shares in the last quarter. Institutional investors own 79.17% of the company’s stock.

NYSE:MDT traded up $3.44 during trading hours on Tuesday, hitting $119.19. 175,655 shares of the company were exchanged, compared to its average volume of 4,571,249. The stock has a market capitalization of $160.43 billion, a price-to-earnings ratio of 44.18, a price-to-earnings-growth ratio of 3.65 and a beta of 0.70. The company has a current ratio of 2.16, a quick ratio of 1.79 and a debt-to-equity ratio of 0.52. Medtronic plc has a one year low of $72.13 and a one year high of $120.53. The company has a fifty day simple moving average of $116.82 and a 200 day simple moving average of $110.18.

Medtronic (NYSE:MDT) last announced its earnings results on Tuesday, February 23rd. The medical technology company reported $1.29 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.15 by $0.14. The business had revenue of $7.78 billion during the quarter, compared to analyst estimates of $7.77 billion. Medtronic had a return on equity of 9.71% and a net margin of 12.69%. Medtronic’s revenue for the quarter was up .8% compared to the same quarter last year. During the same period last year, the company earned $1.44 EPS. Equities research analysts predict that Medtronic plc will post 4.21 earnings per share for the current fiscal year.

In other Medtronic news, EVP Robert John White sold 10,930 shares of the stock in a transaction dated Friday, December 18th. The stock was sold at an average price of $115.46, for a total transaction of $1,261,977.80. Following the completion of the sale, the executive vice president now directly owns 55,852 shares in the company, valued at approximately $6,448,671.92. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, SVP Carol A. Surface sold 15,000 shares of the stock in a transaction dated Monday, December 28th. The stock was sold at an average price of $114.90, for a total value of $1,723,500.00. The disclosure for this sale can be found here. 0.52% of the stock is owned by company insiders.

Several analysts recently issued reports on the company. Morgan Stanley upgraded Medtronic from an “equal weight” rating to an “overweight” rating and set a $140.00 target price on the stock in a report on Tuesday, December 15th. Oppenheimer upped their target price on Medtronic from $122.00 to $128.00 and gave the stock an “outperform” rating in a report on Wednesday, November 25th. Citigroup Inc. 3% Minimum Coupon Principal Protected Based Upon Russell upped their target price on Medtronic from $120.00 to $128.00 in a report on Wednesday, November 25th. The Goldman Sachs Group upgraded Medtronic from a “sell” rating to a “neutral” rating and upped their target price for the stock from $100.00 to $119.00 in a report on Tuesday, December 15th. Finally, BTIG Research upped their target price on Medtronic from $119.00 to $124.00 and gave the stock a “buy” rating in a report on Wednesday, November 25th. One analyst has rated the stock with a sell rating, three have assigned a hold rating, twenty have issued a buy rating and one has issued a strong buy rating to the stock. Medtronic has a consensus rating of “Buy” and a consensus target price of $120.93.

Medtronic Company Profile

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.

Recommended Story: Understanding debt-to-equity ratio in fundamental analysis

Want to see what other hedge funds are holding MDT? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Medtronic plc (NYSE:MDT).

Institutional Ownership by Quarter for Medtronic (NYSE:MDT)

Receive News & Ratings for Medtronic Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Medtronic and related companies with MarketBeat.com's FREE daily email newsletter.