HMS Capital Management LLC Sells 833 Shares of Medtronic plc (NYSE:MDT)

HMS Capital Management LLC lowered its stake in shares of Medtronic plc (NYSE:MDT) by 7.0% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 11,130 shares of the medical technology company’s stock after selling 833 shares during the period. HMS Capital Management LLC’s holdings in Medtronic were worth $889,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently modified their holdings of MDT. CX Institutional boosted its stake in shares of Medtronic by 9.1% during the third quarter. CX Institutional now owns 7,290 shares of the medical technology company’s stock valued at $656,000 after purchasing an additional 608 shares during the period. Lynch & Associates IN raised its holdings in shares of Medtronic by 15.8% in the third quarter. Lynch & Associates IN now owns 7,324 shares of the medical technology company’s stock valued at $659,000 after acquiring an additional 1,000 shares in the last quarter. Roberts Wealth Advisors LLC raised its holdings in shares of Medtronic by 1.7% in the third quarter. Roberts Wealth Advisors LLC now owns 50,015 shares of the medical technology company’s stock valued at $4,408,000 after acquiring an additional 850 shares in the last quarter. Nexus Investment Management ULC raised its holdings in shares of Medtronic by 0.5% in the third quarter. Nexus Investment Management ULC now owns 217,424 shares of the medical technology company’s stock valued at $19,575,000 after acquiring an additional 1,050 shares in the last quarter. Finally, Sumitomo Life Insurance Co. raised its holdings in shares of Medtronic by 2.5% in the third quarter. Sumitomo Life Insurance Co. now owns 18,808 shares of the medical technology company’s stock valued at $1,693,000 after acquiring an additional 458 shares in the last quarter. Institutional investors own 82.06% of the company’s stock.

Insiders Place Their Bets

In related news, EVP Brett A. Wall sold 12,437 shares of the business’s stock in a transaction dated Friday, January 24th. The stock was sold at an average price of $90.00, for a total transaction of $1,119,330.00. Following the transaction, the executive vice president now directly owns 40,979 shares in the company, valued at $3,688,110. The trade was a 23.28 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Insiders own 0.20% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have commented on MDT shares. Robert W. Baird reduced their target price on shares of Medtronic from $96.00 to $93.00 and set a “neutral” rating for the company in a report on Wednesday, November 20th. Truist Financial dropped their target price on Medtronic from $93.00 to $89.00 and set a “hold” rating on the stock in a research report on Wednesday, December 18th. Wells Fargo & Company dropped their target price on Medtronic from $106.00 to $98.00 and set an “overweight” rating on the stock in a research report on Wednesday, November 20th. Sanford C. Bernstein upped their price objective on Medtronic from $96.00 to $97.00 and gave the stock an “outperform” rating in a research report on Wednesday, November 20th. Finally, Barclays upped their target price on Medtronic from $105.00 to $109.00 and gave the stock an “overweight” rating in a research note on Tuesday, November 26th. One research analyst has rated the stock with a sell rating, nine have given a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $95.00.

Medtronic Trading Up 0.2 %

Shares of NYSE MDT opened at $91.35 on Thursday. The company has a market cap of $117.14 billion, a price-to-earnings ratio of 27.94, a price-to-earnings-growth ratio of 2.57 and a beta of 0.84. Medtronic plc has a 12-month low of $75.96 and a 12-month high of $93.08. The company has a current ratio of 1.84, a quick ratio of 1.39 and a debt-to-equity ratio of 0.51. The stock’s 50 day simple moving average is $85.04 and its 200 day simple moving average is $86.65.

Medtronic (NYSE:MDT) last issued its quarterly earnings results on Tuesday, November 19th. The medical technology company reported $1.26 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.25 by $0.01. The company had revenue of $8.40 billion for the quarter, compared to analysts’ expectations of $8.27 billion. Medtronic had a return on equity of 13.79% and a net margin of 13.00%. The firm’s revenue for the quarter was up 5.2% on a year-over-year basis. During the same period last year, the firm earned $1.25 EPS. Equities research analysts expect that Medtronic plc will post 5.45 EPS for the current year.

Medtronic Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, January 10th. Investors of record on Friday, December 27th were given a dividend of $0.70 per share. The ex-dividend date was Friday, December 27th. This represents a $2.80 dividend on an annualized basis and a yield of 3.07%. Medtronic’s payout ratio is 85.63%.

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.