Elo Mutual Pension Insurance Co Sells 4,829 Shares of Medtronic plc (NYSE:MDT)

Elo Mutual Pension Insurance Co lessened its holdings in Medtronic plc (NYSE:MDT) by 4.0% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 117,037 shares of the medical technology company’s stock after selling 4,829 shares during the period. Elo Mutual Pension Insurance Co’s holdings in Medtronic were worth $9,349,000 at the end of the most recent quarter.

Several other institutional investors have also recently bought and sold shares of MDT. Mainstream Capital Management LLC acquired a new position in Medtronic during the 4th quarter worth approximately $26,000. Stephens Consulting LLC increased its holdings in shares of Medtronic by 145.7% during the fourth quarter. Stephens Consulting LLC now owns 344 shares of the medical technology company’s stock worth $27,000 after buying an additional 204 shares in the last quarter. Rakuten Securities Inc. lifted its stake in shares of Medtronic by 753.8% in the 4th quarter. Rakuten Securities Inc. now owns 333 shares of the medical technology company’s stock valued at $27,000 after acquiring an additional 294 shares during the last quarter. Fiduciary Advisors Inc. acquired a new stake in shares of Medtronic during the 4th quarter valued at $36,000. Finally, Kieckhefer Group LLC bought a new stake in Medtronic during the 4th quarter worth $40,000. Institutional investors and hedge funds own 82.06% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on the company. Truist Financial dropped their target price on Medtronic from $93.00 to $89.00 and set a “hold” rating for the company in a research report on Wednesday, December 18th. Citigroup upgraded shares of Medtronic from a “neutral” rating to a “buy” rating and lifted their target price for the stock from $92.00 to $107.00 in a research report on Tuesday, March 4th. UBS Group boosted their target price on shares of Medtronic from $85.00 to $95.00 and gave the stock a “neutral” rating in a report on Wednesday, February 19th. Robert W. Baird raised their price target on shares of Medtronic from $90.00 to $91.00 and gave the company a “neutral” rating in a research note on Wednesday, February 19th. Finally, Needham & Company LLC reissued a “hold” rating on shares of Medtronic in a research note on Wednesday, February 19th. One analyst has rated the stock with a sell rating, eight have given a hold rating, six have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $96.07.

Insider Buying and Selling

In related news, EVP Brett A. Wall sold 12,437 shares of Medtronic stock in a transaction on Friday, January 24th. The shares were sold at an average price of $90.00, for a total value of $1,119,330.00. Following the completion of the sale, the executive vice president now owns 40,979 shares of the company’s stock, valued at approximately $3,688,110. This trade represents a 23.28 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 0.20% of the stock is owned by company insiders.

Medtronic Trading Down 0.5 %

NYSE MDT opened at $88.17 on Thursday. The stock has a market capitalization of $113.08 billion, a P/E ratio of 26.80, a P/E/G ratio of 2.22 and a beta of 0.80. The business has a 50 day simple moving average of $90.96 and a 200 day simple moving average of $88.04. The company has a debt-to-equity ratio of 0.48, a current ratio of 1.90 and a quick ratio of 1.39. Medtronic plc has a one year low of $75.96 and a one year high of $96.25.

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

Medtronic Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, April 11th. Stockholders of record on Friday, March 28th will be paid a $0.70 dividend. The ex-dividend date of this dividend is Friday, March 28th. This represents a $2.80 annualized dividend and a dividend yield of 3.18%. Medtronic’s dividend payout ratio is presently 85.11%.

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.