Nelson Van Denburg & Campbell Wealth Management Group LLC Reduces Stock Position in Medtronic plc (NYSE:MDT)

Nelson Van Denburg & Campbell Wealth Management Group LLC lessened its stake in shares of Medtronic plc (NYSE:MDT) by 12.7% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 8,735 shares of the medical technology company’s stock after selling 1,274 shares during the quarter. Nelson Van Denburg & Campbell Wealth Management Group LLC’s holdings in Medtronic were worth $907,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently bought and sold shares of MDT. Evolution Wealth Advisors LLC grew its holdings in Medtronic by 403.7% in the 2nd quarter. Evolution Wealth Advisors LLC now owns 272 shares of the medical technology company’s stock valued at $25,000 after buying an additional 218 shares during the period. Price Wealth LLC grew its holdings in Medtronic by 73.2% in the 2nd quarter. Price Wealth LLC now owns 291 shares of the medical technology company’s stock valued at $27,000 after buying an additional 123 shares during the period. JFS Wealth Advisors LLC grew its holdings in Medtronic by 64.6% in the 2nd quarter. JFS Wealth Advisors LLC now owns 311 shares of the medical technology company’s stock valued at $29,000 after buying an additional 122 shares during the period. Coastal Capital Group Inc. grew its holdings in Medtronic by 137.0% in the 3rd quarter. Coastal Capital Group Inc. now owns 282 shares of the medical technology company’s stock valued at $29,000 after buying an additional 163 shares during the period. Finally, Crewe Advisors LLC purchased a new stake in Medtronic in the 3rd quarter valued at about $31,000. Hedge funds and other institutional investors own 79.90% of the company’s stock.

MDT has been the subject of several recent analyst reports. Jefferies Financial Group lifted their price target on Medtronic from $120.00 to $138.00 and gave the company a “buy” rating in a report on Thursday, October 15th. SVB Leerink boosted their target price on Medtronic from $105.00 to $110.00 and gave the stock a “market perform” rating in a report on Wednesday, August 26th. Oppenheimer reiterated a “buy” rating and set a $112.00 target price on shares of Medtronic in a report on Tuesday, August 25th. BTIG Research boosted their target price on Medtronic from $102.00 to $111.00 and gave the stock a “buy” rating in a report on Wednesday, August 26th. Finally, Sanford C. Bernstein upgraded Medtronic from a “market perform” rating to an “outperform” rating in a report on Thursday, October 8th. Three equities research analysts have rated the stock with a sell rating, three have assigned a hold rating, twenty-two have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus price target of $116.69.

Shares of NYSE MDT traded up $0.21 during mid-day trading on Friday, hitting $112.05. 55,270 shares of the company traded hands, compared to its average volume of 5,788,134. Medtronic plc has a 1 year low of $72.13 and a 1 year high of $122.15. The stock has a market capitalization of $150.34 billion, a price-to-earnings ratio of 34.20, a PEG ratio of 3.59 and a beta of 0.67. The company has a quick ratio of 1.53, a current ratio of 1.87 and a debt-to-equity ratio of 0.45. The business has a 50 day moving average of $105.94 and a two-hundred day moving average of $99.22.

Medtronic (NYSE:MDT) last announced its earnings results on Tuesday, August 25th. The medical technology company reported $0.62 EPS for the quarter, beating the consensus estimate of $0.21 by $0.41. Medtronic had a return on equity of 10.47% and a net margin of 15.80%. The business had revenue of $6.51 billion during the quarter, compared to the consensus estimate of $5.48 billion. During the same period in the prior year, the business posted $1.26 earnings per share. Medtronic’s revenue was down 13.2% compared to the same quarter last year. As a group, research analysts anticipate that Medtronic plc will post 3.93 EPS for the current year.

The business also recently announced a quarterly dividend, which was paid on Friday, October 16th. Stockholders of record on Friday, September 25th were issued a dividend of $0.58 per share. This represents a $2.32 annualized dividend and a dividend yield of 2.07%. The ex-dividend date was Thursday, September 24th. Medtronic’s dividend payout ratio is 50.54%.

In related news, CFO Karen L. Parkhill sold 702 shares of the stock in a transaction dated Tuesday, September 15th. The stock was sold at an average price of $107.78, for a total value of $75,661.56. Following the completion of the sale, the chief financial officer now directly owns 87,366 shares of the company’s stock, valued at approximately $9,416,307.48. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Hoedt Rob Ten sold 9,563 shares of the stock in a transaction dated Wednesday, September 9th. The stock was sold at an average price of $105.05, for a total value of $1,004,593.15. Following the completion of the sale, the executive vice president now directly owns 53,060 shares of the company’s stock, valued at $5,573,953. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 41,326 shares of company stock valued at $4,441,498. 0.52% of the stock is currently owned by company insiders.

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.

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Institutional Ownership by Quarter for Medtronic (NYSE:MDT)

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