Guyasuta Investment Advisors Inc. Sells 237 Shares of Medtronic plc (NYSE:MDT)

Guyasuta Investment Advisors Inc. cut its stake in Medtronic plc (NYSE:MDT) by 6.8% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 3,255 shares of the medical technology company’s stock after selling 237 shares during the quarter. Guyasuta Investment Advisors Inc.’s holdings in Medtronic were worth $268,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of MDT. Pzena Investment Management LLC grew its position in shares of Medtronic by 112.8% in the 3rd quarter. Pzena Investment Management LLC now owns 5,730,577 shares of the medical technology company’s stock valued at $449,048,000 after purchasing an additional 3,037,394 shares during the period. Morgan Stanley boosted its position in Medtronic by 9.2% during the 3rd quarter. Morgan Stanley now owns 23,777,808 shares of the medical technology company’s stock worth $1,863,229,000 after acquiring an additional 1,994,123 shares during the last quarter. Envestnet Asset Management Inc. boosted its position in Medtronic by 30.1% during the 3rd quarter. Envestnet Asset Management Inc. now owns 5,181,266 shares of the medical technology company’s stock worth $406,004,000 after acquiring an additional 1,199,639 shares during the last quarter. Caisse DE Depot ET Placement DU Quebec boosted its position in Medtronic by 78.4% during the 3rd quarter. Caisse DE Depot ET Placement DU Quebec now owns 2,356,359 shares of the medical technology company’s stock worth $184,644,000 after acquiring an additional 1,035,747 shares during the last quarter. Finally, International Assets Investment Management LLC boosted its position in Medtronic by 8,340.3% during the 4th quarter. International Assets Investment Management LLC now owns 1,038,579 shares of the medical technology company’s stock worth $85,558,000 after acquiring an additional 1,026,274 shares during the last quarter. 82.06% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on MDT shares. Oppenheimer upped their price objective on Medtronic from $89.00 to $92.00 and gave the stock a “market perform” rating in a research note on Wednesday, February 21st. Royal Bank of Canada reiterated a “sector perform” rating and set a $92.00 price objective on shares of Medtronic in a research note on Wednesday, February 21st. Mizuho upped their price objective on Medtronic from $95.00 to $98.00 and gave the stock a “buy” rating in a research note on Wednesday, February 21st. Finally, Truist Financial upped their price objective on Medtronic from $87.00 to $90.00 and gave the stock a “hold” rating in a research note on Wednesday, February 21st. One investment analyst has rated the stock with a sell rating, four have given a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $94.91.

Insiders Place Their Bets

In other Medtronic news, EVP Michael Marinaro sold 854 shares of the stock in a transaction on Monday, April 8th. The stock was sold at an average price of $83.14, for a total transaction of $71,001.56. Following the transaction, the executive vice president now owns 27,925 shares in the company, valued at approximately $2,321,684.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other news, EVP Michael Marinaro sold 854 shares of the stock in a transaction on Monday, April 8th. The stock was sold at an average price of $83.14, for a total transaction of $71,001.56. Following the sale, the executive vice president now directly owns 27,925 shares of the company’s stock, valued at approximately $2,321,684.50. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, EVP Sean Salmon sold 30,695 shares of the stock in a transaction on Wednesday, February 21st. The stock was sold at an average price of $85.13, for a total value of $2,613,065.35. Following the sale, the executive vice president now directly owns 48,289 shares in the company, valued at $4,110,842.57. The disclosure for this sale can be found here. Company insiders own 0.30% of the company’s stock.

Medtronic Stock Up 1.4 %

MDT opened at $80.86 on Tuesday. Medtronic plc has a 1-year low of $68.84 and a 1-year high of $92.02. The stock’s fifty day simple moving average is $83.46 and its 200 day simple moving average is $81.32. The company has a current ratio of 2.30, a quick ratio of 1.71 and a debt-to-equity ratio of 0.46. The stock has a market cap of $107.37 billion, a PE ratio of 25.75, a price-to-earnings-growth ratio of 2.73 and a beta of 0.76.

Medtronic (NYSE:MDT) last posted its quarterly earnings data on Tuesday, February 20th. The medical technology company reported $1.30 earnings per share for the quarter, topping the consensus estimate of $1.26 by $0.04. The firm had revenue of $8.09 billion for the quarter, compared to analysts’ expectations of $7.95 billion. Medtronic had a return on equity of 13.71% and a net margin of 13.00%. The company’s quarterly revenue was up 4.7% compared to the same quarter last year. During the same quarter last year, the business earned $1.30 EPS. As a group, research analysts expect that Medtronic plc will post 5.2 earnings per share for the current year.

Medtronic Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, April 12th. Shareholders of record on Friday, March 22nd were given a dividend of $0.69 per share. This represents a $2.76 annualized dividend and a yield of 3.41%. The ex-dividend date of this dividend was Thursday, March 21st. Medtronic’s payout ratio is 87.90%.

Medtronic 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.