Motco Sells 160 Shares of Medtronic plc (NYSE:MDT)

Motco decreased its holdings in shares of Medtronic plc (NYSE:MDT) by 19.0% in the 4th quarter, according to its most recent 13F filing with the SEC. The fund owned 684 shares of the medical technology company’s stock after selling 160 shares during the period. Motco’s holdings in Medtronic were worth $56,000 at the end of the most recent reporting period.

Other large investors also recently made changes to their positions in the company. Norges Bank bought a new position in Medtronic during the fourth quarter worth about $1,229,726,000. First Eagle Investment Management LLC boosted its stake in Medtronic by 54.5% during the 4th quarter. First Eagle Investment Management LLC now owns 9,409,680 shares of the medical technology company’s stock worth $775,169,000 after acquiring an additional 3,320,800 shares during the last quarter. Pzena Investment Management LLC grew its holdings in Medtronic by 112.8% during the third 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 increased its stake in Medtronic by 9.2% in the third quarter. Morgan Stanley now owns 23,777,808 shares of the medical technology company’s stock valued at $1,863,229,000 after purchasing an additional 1,994,123 shares in the last quarter. Finally, Envestnet Asset Management Inc. raised its holdings in Medtronic by 30.1% in the third quarter. Envestnet Asset Management Inc. now owns 5,181,266 shares of the medical technology company’s stock worth $406,004,000 after purchasing an additional 1,199,639 shares during the period. Institutional investors and hedge funds own 82.06% of the company’s stock.

Insiders Place Their Bets

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

Medtronic Stock Down 1.5 %

NYSE:MDT traded down $1.30 during trading hours on Monday, reaching $84.62. 2,388,332 shares of the stock were exchanged, compared to its average volume of 6,077,415. The company has a debt-to-equity ratio of 0.46, a current ratio of 2.30 and a quick ratio of 1.71. Medtronic plc has a twelve month low of $68.84 and a twelve month high of $91.00. The stock has a market cap of $112.36 billion, a PE ratio of 27.07, a PEG ratio of 2.80 and a beta of 0.78. The firm has a 50 day moving average of $82.91 and a 200 day moving average of $82.43.

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

Medtronic Dividend Announcement

The business also recently declared 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 dividend yield of 3.26%. The ex-dividend date of this dividend was Thursday, March 21st. Medtronic’s dividend payout ratio (DPR) is 87.90%.

Analysts Set New Price Targets

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

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.