Bigelow Investment Advisors LLC Sells 2,004 Shares of Medtronic plc (NYSE:MDT)

Bigelow Investment Advisors LLC lessened its holdings in Medtronic plc (NYSE:MDT) by 12.5% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 13,969 shares of the medical technology company’s stock after selling 2,004 shares during the period. Bigelow Investment Advisors LLC’s holdings in Medtronic were worth $1,116,000 at the end of the most recent quarter.

Several other large investors also recently bought and sold shares of the business. State Street Corp increased its position in Medtronic by 0.9% in the third quarter. State Street Corp now owns 60,731,367 shares of the medical technology company’s stock worth $5,509,155,000 after purchasing an additional 520,027 shares during the last quarter. Pzena Investment Management LLC increased its position in Medtronic by 3.3% in the third quarter. Pzena Investment Management LLC now owns 8,582,993 shares of the medical technology company’s stock worth $772,727,000 after purchasing an additional 275,870 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in Medtronic by 436.7% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 7,343,385 shares of the medical technology company’s stock valued at $661,125,000 after acquiring an additional 5,975,110 shares during the last quarter. Fisher Asset Management LLC increased its position in Medtronic by 11.5% during the third quarter. Fisher Asset Management LLC now owns 5,893,720 shares of the medical technology company’s stock valued at $530,612,000 after acquiring an additional 609,391 shares during the last quarter. Finally, Stifel Financial Corp increased its position in Medtronic by 2.9% during the third quarter. Stifel Financial Corp now owns 5,842,020 shares of the medical technology company’s stock valued at $525,960,000 after acquiring an additional 164,700 shares during the last quarter. Institutional investors own 82.06% of the company’s stock.

Analyst Upgrades and Downgrades

MDT has been the topic of a number of analyst reports. Sanford C. Bernstein boosted their price objective on shares of Medtronic from $96.00 to $97.00 and gave the company an “outperform” rating in a research report on Wednesday, November 20th. Truist Financial cut their price objective on shares of 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 cut their price objective on shares of Medtronic from $106.00 to $98.00 and set an “overweight” rating on the stock in a research report on Wednesday, November 20th. JPMorgan Chase & Co. cut their price objective on shares of Medtronic from $99.00 to $96.00 and set a “neutral” rating on the stock in a research report on Friday, November 15th. Finally, Needham & Company LLC restated a “hold” rating on shares of Medtronic in a report on Wednesday, February 12th. One analyst has rated the stock with a sell rating, nine have given a hold rating, six have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, Medtronic has a consensus rating of “Hold” and an average target price of $95.00.

Medtronic Stock Down 7.3 %

NYSE:MDT opened at $86.05 on Wednesday. Medtronic plc has a 1-year low of $75.96 and a 1-year high of $93.08. The company has a 50-day moving average of $85.74 and a 200 day moving average of $87.02. The firm has a market cap of $110.34 billion, a PE ratio of 26.32, a price-to-earnings-growth ratio of 2.63 and a beta of 0.84. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.84 and a quick ratio of 1.39.

Medtronic (NYSE:MDT) last released its quarterly earnings data 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 13.00% and a return on equity of 13.79%. As a group, research analysts anticipate that Medtronic plc will post 5.45 EPS for the current fiscal year.

Medtronic Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, January 10th. Shareholders of record on Friday, December 27th were given a dividend of $0.70 per share. This represents a $2.80 annualized dividend and a dividend yield of 3.25%. The ex-dividend date was Friday, December 27th. Medtronic’s payout ratio is 85.63%.

Insider Buying and Selling at Medtronic

In other Medtronic news, EVP Brett A. Wall sold 12,437 shares of the stock in a transaction dated Friday, January 24th. The shares were sold at an average price of $90.00, for a total transaction of $1,119,330.00. Following the completion of the sale, the executive vice president now directly owns 40,979 shares of the company’s stock, valued at approximately $3,688,110. This represents a 23.28 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Insiders own 0.20% of the company’s stock.

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.