Ferguson Wellman Capital Management Inc. Sells 847 Shares of Medtronic plc (NYSE:MDT)

Ferguson Wellman Capital Management Inc. lessened its position in Medtronic plc (NYSE:MDTFree Report) by 16.5% in the second quarter, Holdings Channel.com reports. The firm owned 4,298 shares of the medical technology company’s stock after selling 847 shares during the quarter. Ferguson Wellman Capital Management Inc.’s holdings in Medtronic were worth $379,000 at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of the company. Sageworth Trust Co acquired a new stake in Medtronic during the 1st quarter worth approximately $26,000. Laurel Wealth Advisors LLC increased its stake in shares of Medtronic by 250.0% in the first quarter. Laurel Wealth Advisors LLC now owns 350 shares of the medical technology company’s stock valued at $28,000 after buying an additional 250 shares during the period. Trivant Custom Portfolio Group LLC bought a new position in shares of Medtronic during the first quarter worth about $31,000. Certified Advisory Corp bought a new stake in Medtronic in the first quarter valued at approximately $31,000. Finally, Avalon Trust Co bought a new position in Medtronic during the first quarter worth $32,000. 80.75% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on the company. Sanford C. Bernstein dropped their price objective on Medtronic from $100.00 to $99.00 in a research note on Friday, May 26th. 22nd Century Group restated an “initiates” rating on shares of Medtronic in a report on Friday, June 30th. Wells Fargo & Company raised their price objective on Medtronic from $100.00 to $102.00 and gave the company an “overweight” rating in a research note on Wednesday, August 23rd. Mizuho boosted their target price on Medtronic from $95.00 to $100.00 and gave the stock a “buy” rating in a research note on Wednesday, August 23rd. Finally, CL King began coverage on Medtronic in a report on Friday, June 30th. They set a “buy” rating and a $106.00 price target on the stock. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and seven have issued a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $91.67.

Read Our Latest Research Report on Medtronic

Insider Buying and Selling

In related news, EVP Hoedt Rob Ten sold 5,514 shares of the firm’s stock in a transaction that occurred on Monday, July 10th. The shares were sold at an average price of $86.58, for a total transaction of $477,402.12. Following the completion of the sale, the executive vice president now owns 43,802 shares of the company’s stock, valued at $3,792,377.16. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, EVP Hoedt Rob Ten sold 5,514 shares of the company’s stock in a transaction on Monday, July 10th. The stock was sold at an average price of $86.58, for a total value of $477,402.12. Following the completion of the sale, the executive vice president now directly owns 43,802 shares in the company, valued at approximately $3,792,377.16. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Brett A. Wall sold 2,000 shares of Medtronic stock in a transaction that occurred on Friday, July 14th. The shares were sold at an average price of $87.97, for a total value of $175,940.00. Following the sale, the executive vice president now directly owns 23,948 shares in the company, valued at approximately $2,106,705.56. The disclosure for this sale can be found here. Insiders sold a total of 19,866 shares of company stock worth $1,688,839 in the last three months. 0.30% of the stock is owned by corporate insiders.

Medtronic Stock Performance

Medtronic stock opened at $82.77 on Tuesday. The firm’s 50 day simple moving average is $84.16 and its 200 day simple moving average is $84.35. The company has a current ratio of 2.42, a quick ratio of 1.79 and a debt-to-equity ratio of 0.48. Medtronic plc has a 1-year low of $75.76 and a 1-year high of $92.02. The firm has a market capitalization of $110.13 billion, a PE ratio of 30.54, a price-to-earnings-growth ratio of 2.87 and a beta of 0.71.

Medtronic (NYSE:MDTGet Free Report) last announced its earnings results on Tuesday, August 22nd. The medical technology company reported $1.20 earnings per share for the quarter, beating analysts’ consensus estimates of $1.11 by $0.09. Medtronic had a net margin of 11.47% and a return on equity of 13.81%. The business had revenue of $7.70 billion for the quarter, compared to the consensus estimate of $7.57 billion. During the same period last year, the firm posted $1.13 earnings per share. Medtronic’s quarterly revenue was up 4.5% on a year-over-year basis. As a group, analysts expect that Medtronic plc will post 5.12 earnings per share for the current fiscal year.

Medtronic Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, October 13th. Investors of record on Friday, September 22nd will be given a dividend of $0.69 per share. The ex-dividend date is Thursday, September 21st. This represents a $2.76 annualized dividend and a dividend yield of 3.33%. Medtronic’s dividend payout ratio is presently 101.85%.

Medtronic Company Profile

(Free Report)

Medtronic plc develops, manufactures, and sells device-based medical therapies to healthcare systems, physicians, clinicians, and patients worldwide. Its Cardiovascular Portfolio segment offers implantable cardiac pacemakers, cardioverter defibrillators, and cardiac resynchronization therapy devices; cardiac ablation products; insertable cardiac monitor systems; TYRX products; and remote monitoring and patient-centered software.

Further Reading

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Institutional Ownership by Quarter for Medtronic (NYSE:MDT)

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