Anchor Capital Advisors LLC Sells 869 Shares of Medtronic plc (NYSE:MDT)

Anchor Capital Advisors LLC decreased its holdings in shares of Medtronic plc (NYSE:MDT) by 6.8% in the fourth quarter, Holdings Channel reports. The firm owned 11,831 shares of the medical technology company’s stock after selling 869 shares during the quarter. Anchor Capital Advisors LLC’s holdings in Medtronic were worth $945,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Fidelis Capital Partners LLC bought a new position in shares of Medtronic in the third quarter valued at approximately $224,000. JFS Wealth Advisors LLC raised its stake in shares of Medtronic by 168.1% in the third quarter. JFS Wealth Advisors LLC now owns 2,383 shares of the medical technology company’s stock valued at $215,000 after acquiring an additional 1,494 shares during the last quarter. Aspen Wealth Strategies LLC bought a new position in shares of Medtronic in the third quarter valued at approximately $260,000. Stephens Inc. AR raised its stake in shares of Medtronic by 1.0% in the third quarter. Stephens Inc. AR now owns 197,149 shares of the medical technology company’s stock valued at $17,749,000 after acquiring an additional 1,947 shares during the last quarter. Finally, Principal Securities Inc. raised its stake in shares of Medtronic by 6.7% in the third quarter. Principal Securities Inc. now owns 47,656 shares of the medical technology company’s stock valued at $4,290,000 after acquiring an additional 2,981 shares during the last quarter. Institutional investors own 82.06% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on MDT shares. Robert W. Baird lifted their target price on shares of Medtronic from $90.00 to $91.00 and gave the company a “neutral” rating in a research note on Wednesday, February 19th. Royal Bank of Canada reissued an “outperform” rating and issued a $105.00 price target on shares of Medtronic in a report on Wednesday, February 19th. Truist Financial lowered their price target on shares of Medtronic from $93.00 to $89.00 and set a “hold” rating for the company in a report on Wednesday, December 18th. UBS Group raised their price target on shares of Medtronic from $85.00 to $95.00 and gave the company a “neutral” rating in a report on Wednesday, February 19th. Finally, Wells Fargo & Company lowered their price target on shares of Medtronic from $106.00 to $98.00 and set an “overweight” rating for the company in a report on Wednesday, November 20th. One analyst has rated the stock with a sell rating, nine have given a hold rating, five have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $95.00.

Insider Transactions at Medtronic

In other news, EVP Brett A. Wall sold 9,850 shares of Medtronic stock in a transaction on Wednesday, January 8th. The shares were sold at an average price of $80.41, for a total transaction of $792,038.50. Following the transaction, the executive vice president now directly owns 40,708 shares of the company’s stock, valued at $3,273,330.28. This trade represents a 19.48 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders own 0.20% of the company’s stock.

Medtronic Price Performance

MDT opened at $92.00 on Friday. The company has a fifty day moving average price of $87.08 and a two-hundred day moving average price of $87.42. 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 plc has a 52 week low of $75.96 and a 52 week high of $93.08. The firm has a market capitalization of $117.97 billion, a PE ratio of 27.96, a P/E/G ratio of 2.22 and a beta of 0.84.

Medtronic (NYSE:MDT) last released its earnings results on Tuesday, February 18th. The medical technology company reported $1.39 EPS for the quarter, topping analysts’ consensus estimates of $1.36 by $0.03. The firm had revenue of $8.29 billion during the quarter, compared to analyst estimates of $8.33 billion. Medtronic had a net margin of 12.83% and a return on equity of 14.07%. As a group, analysts anticipate that Medtronic plc will post 5.46 earnings per share for the current year.

Medtronic Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, January 10th. Stockholders 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 dividend yield of 3.04%. Medtronic’s dividend payout ratio is 85.11%.

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.