Medtronic plc (NYSE:MDT) Shares Sold by Davis R M Inc.

Davis R M Inc. cut its stake in shares of Medtronic plc (NYSE:MDT) by 0.6% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 265,732 shares of the medical technology company’s stock after selling 1,664 shares during the quarter. Davis R M Inc.’s holdings in Medtronic were worth $21,227,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of MDT. CWA Asset Management Group LLC purchased a new position in Medtronic in the third quarter worth $418,000. Verdence Capital Advisors LLC raised its position in Medtronic by 10.1% in the third quarter. Verdence Capital Advisors LLC now owns 9,631 shares of the medical technology company’s stock worth $867,000 after acquiring an additional 885 shares in the last quarter. XML Financial LLC raised its position in Medtronic by 12.1% in the third quarter. XML Financial LLC now owns 12,536 shares of the medical technology company’s stock worth $1,129,000 after acquiring an additional 1,351 shares in the last quarter. Sigma Planning Corp raised its position in Medtronic by 0.4% in the third quarter. Sigma Planning Corp now owns 28,843 shares of the medical technology company’s stock worth $2,597,000 after acquiring an additional 124 shares in the last quarter. Finally, Baker Avenue Asset Management LP raised its position in Medtronic by 12.4% in the third quarter. Baker Avenue Asset Management LP now owns 4,084 shares of the medical technology company’s stock worth $368,000 after acquiring an additional 450 shares in the last quarter. Hedge funds and other institutional investors own 82.06% of the company’s stock.

Medtronic Trading Down 0.8 %

Medtronic stock opened at $93.75 on Tuesday. The stock has a market cap of $120.24 billion, a PE ratio of 28.50, a P/E/G ratio of 2.22 and a beta of 0.80. The stock has a 50-day moving average price of $88.62 and a 200 day moving average price of $87.84. Medtronic plc has a 52 week low of $75.96 and a 52 week high of $96.25. The company has a current ratio of 1.90, a quick ratio of 1.39 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 (EPS) for the quarter, topping analysts’ consensus estimates of $1.36 by $0.03. Medtronic had a return on equity of 14.07% and a net margin of 12.83%. The firm had revenue of $8.29 billion for the quarter, compared to analyst estimates of $8.33 billion. Equities research analysts predict that Medtronic plc will post 5.46 earnings per share for the current fiscal year.

Medtronic Announces Dividend

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 paid a $0.70 dividend. This represents a $2.80 dividend on an annualized basis and a yield of 2.99%. The ex-dividend date of this dividend is Friday, March 28th. Medtronic’s payout ratio is 85.11%.

Insiders Place Their Bets

In other Medtronic news, EVP Brett A. Wall sold 12,437 shares of the firm’s stock in a transaction dated Friday, January 24th. The stock was sold at an average price of $90.00, for a total value of $1,119,330.00. Following the sale, the executive vice president now directly 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.20% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several research analysts have issued reports on the company. Truist Financial cut their price objective on Medtronic from $93.00 to $89.00 and set a “hold” rating for the company in a research report on Wednesday, December 18th. Robert W. Baird raised their price target on Medtronic from $90.00 to $91.00 and gave the company a “neutral” rating in a research report on Wednesday, February 19th. Sanford C. Bernstein raised their price target on Medtronic from $96.00 to $97.00 and gave the company an “outperform” rating in a research report on Wednesday, November 20th. JPMorgan Chase & Co. dropped their price target on Medtronic from $99.00 to $96.00 and set a “neutral” rating for the company in a research report on Friday, November 15th. Finally, Barclays raised their price target on Medtronic from $105.00 to $109.00 and gave the company an “overweight” rating in a research report on Tuesday, November 26th. One analyst has rated the stock with a sell rating, eight have given a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target 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.