Nichols & Pratt Advisers LLP MA Has $12.87 Million Stock Position in Medtronic plc (NYSE:MDT)

Nichols & Pratt Advisers LLP MA boosted its position in Medtronic plc (NYSE:MDT) by 1.7% in the 4th quarter, HoldingsChannel reports. The firm owned 161,162 shares of the medical technology company’s stock after acquiring an additional 2,765 shares during the period. Nichols & Pratt Advisers LLP MA’s holdings in Medtronic were worth $12,874,000 as of its most recent filing with the SEC.

Other large investors have also recently bought and sold shares of the company. Darwin Wealth Management LLC bought a new position in Medtronic in the 3rd quarter valued at about $27,000. J. Stern & Co. LLP bought a new position in Medtronic in the 3rd quarter valued at about $30,000. Stephens Consulting LLC raised its holdings in Medtronic by 145.7% in the 4th quarter. Stephens Consulting LLC now owns 344 shares of the medical technology company’s stock valued at $27,000 after acquiring an additional 204 shares during the period. Fiduciary Advisors Inc. bought a new position in Medtronic in the 4th quarter valued at about $36,000. Finally, Chelsea Counsel Co. bought a new position in Medtronic in the 3rd quarter valued at about $45,000. 82.06% of the stock is owned by institutional investors.

Insider Buying and Selling

In related 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 completion of the transaction, the executive vice president now 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 filing with the Securities & Exchange Commission, which is available at the SEC website. 0.20% of the stock is owned by insiders.

Analyst Ratings Changes

MDT has been the topic of several research analyst reports. Sanford C. Bernstein increased their price target on shares of Medtronic from $96.00 to $97.00 and gave the company an “outperform” rating in a report on Wednesday, November 20th. Royal Bank of Canada reiterated an “outperform” rating and set a $105.00 price target on shares of Medtronic in a research report on Wednesday, February 19th. Truist Financial reduced their price target 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. Robert W. Baird increased their price target on shares of Medtronic from $90.00 to $91.00 and gave the stock a “neutral” rating in a research report on Wednesday, February 19th. Finally, JPMorgan Chase & Co. reduced their price target 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. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $95.00.

Medtronic Price Performance

Shares of NYSE:MDT opened at $92.00 on Friday. The firm has a market cap of $117.97 billion, a PE ratio of 27.96, a price-to-earnings-growth ratio of 2.22 and a beta of 0.84. The firm’s fifty day moving average is $87.08 and its 200-day moving average is $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.

Medtronic (NYSE:MDT) last issued its quarterly 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 company had revenue of $8.29 billion for 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%. Sell-side analysts predict that Medtronic plc will post 5.46 earnings per share for the current year.

Medtronic Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, January 10th. Investors of record on Friday, December 27th were paid a dividend of $0.70 per share. This represents a $2.80 dividend on an annualized basis and a yield of 3.04%. The ex-dividend date was Friday, December 27th. Medtronic’s dividend payout ratio is presently 85.11%.

Medtronic 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.