Blair William & Co. IL Trims Stock Holdings in Medtronic plc (NYSE:MDT)

Blair William & Co. IL cut its holdings in shares of Medtronic plc (NYSE:MDT) by 0.3% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 94,532 shares of the medical technology company’s stock after selling 317 shares during the quarter. Blair William & Co. IL’s holdings in Medtronic were worth $7,551,000 at the end of the most recent quarter.

A number of other institutional investors also recently made changes to their positions in MDT. Mainstream Capital Management LLC acquired a new stake in Medtronic in the fourth quarter valued at $26,000. Stephens Consulting LLC raised its stake in shares of Medtronic by 145.7% in the 4th quarter. Stephens Consulting LLC now owns 344 shares of the medical technology company’s stock valued at $27,000 after purchasing an additional 204 shares in the last quarter. Rakuten Securities Inc. lifted its position in shares of Medtronic by 753.8% during the fourth quarter. Rakuten Securities Inc. now owns 333 shares of the medical technology company’s stock worth $27,000 after purchasing an additional 294 shares during the last quarter. Fiduciary Advisors Inc. acquired a new position in Medtronic in the fourth quarter worth about $36,000. Finally, Kieckhefer Group LLC bought a new stake in Medtronic in the fourth quarter valued at about $40,000. 82.06% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other Medtronic news, EVP Brett A. Wall sold 9,850 shares of the business’s stock in a transaction dated Wednesday, January 8th. The shares were sold at an average price of $80.41, for a total value of $792,038.50. Following the sale, the executive vice president now directly owns 40,708 shares in the company, valued at approximately $3,273,330.28. The trade was a 19.48 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 0.20% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on MDT. Robert W. Baird lifted their target price on Medtronic from $90.00 to $91.00 and gave the stock a “neutral” rating in a research report on Wednesday, February 19th. Citigroup upgraded shares of Medtronic from a “neutral” rating to a “buy” rating and boosted their target price for the company from $92.00 to $107.00 in a research note on Tuesday, March 4th. Royal Bank of Canada restated an “outperform” rating and issued a $105.00 price target on shares of Medtronic in a research report on Wednesday, February 19th. UBS Group boosted their price objective on shares of Medtronic from $85.00 to $95.00 and gave the company a “neutral” rating in a research report on Wednesday, February 19th. Finally, Truist Financial decreased their target price on Medtronic from $93.00 to $89.00 and set a “hold” rating for the company in a research note on Wednesday, December 18th. One research analyst has rated the stock with a sell rating, eight have issued a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $96.07.

Medtronic Price Performance

Shares of NYSE MDT opened at $87.62 on Friday. The stock has a market cap of $112.38 billion, a P/E ratio of 26.63, a P/E/G ratio of 2.22 and a beta of 0.80. The firm’s 50-day simple moving average is $90.98 and its 200 day simple moving average is $88.01. Medtronic plc has a fifty-two week low of $75.96 and a fifty-two week high of $96.25. The company has a quick ratio of 1.39, a current ratio of 1.90 and a debt-to-equity ratio of 0.48.

Medtronic (NYSE:MDT) last issued its quarterly earnings results on Tuesday, February 18th. The medical technology company reported $1.39 earnings per share for the quarter, topping analysts’ consensus estimates 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. Equities analysts expect that Medtronic plc will post 5.46 EPS for the current year.

Medtronic Announces Dividend

The company also recently disclosed 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. This represents a $2.80 dividend on an annualized basis and a dividend yield of 3.20%. The ex-dividend date of this dividend is Friday, March 28th. Medtronic’s dividend payout ratio is presently 85.11%.

Medtronic Company Profile

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.