Schulhoff & Co. Inc. Trims Stake in Medtronic plc (NYSE:MDT)

Schulhoff & Co. Inc. cut its holdings in shares of Medtronic plc (NYSE:MDT) by 7.7% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 13,272 shares of the medical technology company’s stock after selling 1,103 shares during the quarter. Schulhoff & Co. Inc.’s holdings in Medtronic were worth $1,060,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently modified their holdings of MDT. Highline Wealth Partners LLC purchased a new position in Medtronic during the third quarter worth about $27,000. Fortitude Family Office LLC purchased a new position in shares of Medtronic during the 3rd quarter worth approximately $27,000. Darwin Wealth Management LLC acquired a new stake in Medtronic in the 3rd quarter valued at approximately $27,000. Stephens Consulting LLC raised its position in Medtronic by 145.7% in the fourth quarter. Stephens Consulting LLC now owns 344 shares of the medical technology company’s stock valued at $27,000 after purchasing an additional 204 shares during the period. Finally, J. Stern & Co. LLP acquired a new position in Medtronic during the third quarter worth $30,000. 82.06% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, EVP Brett A. Wall sold 12,437 shares of the stock in a transaction that occurred on 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 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 legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 0.20% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on the company. UBS Group lifted their price objective on Medtronic from $85.00 to $95.00 and gave the company a “neutral” rating in a research note on Wednesday, February 19th. Sanford C. Bernstein boosted their price target on shares of Medtronic from $96.00 to $97.00 and gave the stock an “outperform” rating in a research note on Wednesday, November 20th. Truist Financial lowered their price objective on shares of Medtronic from $93.00 to $89.00 and set a “hold” rating for the company in a research note on Wednesday, December 18th. Wells Fargo & Company cut their target price on shares of Medtronic from $106.00 to $98.00 and set an “overweight” rating on the stock in a research note on Wednesday, November 20th. Finally, Barclays raised their price target on shares of 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, nine have assigned a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $95.00.

Medtronic Price Performance

Shares of NYSE MDT opened at $90.67 on Friday. The stock’s 50-day simple moving average is $86.86 and its 200-day simple moving average is $87.35. The firm has a market capitalization of $116.26 billion, a PE ratio of 27.56, a price-to-earnings-growth ratio of 2.22 and a beta of 0.84. Medtronic plc has a fifty-two week low of $75.96 and a fifty-two week high of $93.08. The company has a debt-to-equity ratio of 0.48, a quick ratio of 1.39 and a current ratio of 1.90.

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 12.83% and a return on equity of 14.07%. The company had revenue of $8.29 billion for the quarter, compared to analysts’ expectations of $8.33 billion. As a group, equities research analysts forecast that Medtronic plc will post 5.46 EPS for the current fiscal year.

Medtronic Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, January 10th. Shareholders of record on Friday, December 27th were paid a $0.70 dividend. The ex-dividend date of this dividend was Friday, December 27th. This represents a $2.80 annualized dividend and a yield of 3.09%. Medtronic’s dividend payout ratio is presently 85.11%.

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.