Personal CFO Solutions LLC Sells 424 Shares of Medtronic plc (NYSE:MDT)

Personal CFO Solutions LLC lessened its stake in Medtronic plc (NYSE:MDT) by 3.8% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 10,771 shares of the medical technology company’s stock after selling 424 shares during the quarter. Personal CFO Solutions LLC’s holdings in Medtronic were worth $860,000 at the end of the most recent quarter.

A number of other hedge funds also recently modified their holdings of MDT. Philip James Wealth Mangement LLC raised its holdings in shares of Medtronic by 10.6% in the 3rd quarter. Philip James Wealth Mangement LLC now owns 2,900 shares of the medical technology company’s stock worth $261,000 after purchasing an additional 279 shares during the period. Hollencrest Capital Management raised its holdings in shares of Medtronic by 43.9% in the 3rd quarter. Hollencrest Capital Management now owns 737 shares of the medical technology company’s stock worth $66,000 after purchasing an additional 225 shares during the period. Equitable Trust Co. raised its holdings in shares of Medtronic by 23.0% in the 3rd quarter. Equitable Trust Co. now owns 20,677 shares of the medical technology company’s stock worth $1,862,000 after purchasing an additional 3,869 shares during the period. CWA Asset Management Group LLC bought a new stake in shares of Medtronic in the 3rd quarter worth approximately $418,000. Finally, Beta Wealth Group Inc. raised its holdings in Medtronic by 4.6% during the 3rd quarter. Beta Wealth Group Inc. now owns 6,918 shares of the medical technology company’s stock valued at $623,000 after acquiring an additional 306 shares during the period. Institutional investors own 82.06% of the company’s stock.

Medtronic Stock Up 1.6 %

Shares of NYSE:MDT opened at $94.58 on Friday. Medtronic plc has a 52-week low of $75.96 and a 52-week high of $95.57. The firm has a fifty day moving average of $88.33 and a 200 day moving average of $87.80. The firm has a market capitalization of $121.30 billion, a PE ratio of 28.75, a price-to-earnings-growth ratio of 2.22 and a beta of 0.80. The company has a debt-to-equity ratio of 0.48, a quick ratio of 1.39 and a current ratio of 1.90.

Medtronic (NYSE:MDT) last announced its earnings results on Tuesday, February 18th. The medical technology company reported $1.39 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.36 by $0.03. Medtronic had a net margin of 12.83% and a return on equity of 14.07%. The company had revenue of $8.29 billion during the quarter, compared to analyst estimates of $8.33 billion. As a group, research analysts anticipate that Medtronic plc will post 5.46 EPS for the current fiscal year.

Medtronic Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, April 11th. Shareholders of record on Friday, March 28th will be given a dividend of $0.70 per share. The ex-dividend date is Friday, March 28th. This represents a $2.80 annualized dividend and a yield of 2.96%. Medtronic’s payout ratio is 85.11%.

Insider Buying and Selling at Medtronic

In other Medtronic news, EVP Brett A. Wall sold 12,437 shares of the company’s stock in a transaction dated Friday, January 24th. The shares were sold at an average price of $90.00, for a total transaction of $1,119,330.00. Following the completion of the sale, the executive vice president now directly owns 40,979 shares in the company, valued at $3,688,110. This represents a 23.28 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Company insiders own 0.20% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have issued reports on MDT shares. Sanford C. Bernstein boosted their target price on shares of Medtronic from $96.00 to $97.00 and gave the company an “outperform” rating in a report on Wednesday, November 20th. Wells Fargo & Company lowered their target price on shares of Medtronic from $106.00 to $98.00 and set an “overweight” rating on the stock in a report on Wednesday, November 20th. Robert W. Baird boosted their target price on shares of Medtronic from $90.00 to $91.00 and gave the company a “neutral” rating in a report on Wednesday, February 19th. Barclays boosted their target price on shares of Medtronic from $105.00 to $109.00 and gave the company an “overweight” rating in a report on Tuesday, November 26th. Finally, Truist Financial lowered their target price on shares of Medtronic from $93.00 to $89.00 and set a “hold” rating on the stock in a report on Wednesday, December 18th. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $96.07.

About Medtronic

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.