Medtronic plc (NYSE:MDT) Shares Sold by Moran Wealth Management LLC

Moran Wealth Management LLC cut its position in Medtronic plc (NYSE:MDT) by 39.5% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 134,125 shares of the medical technology company’s stock after selling 87,564 shares during the period. Moran Wealth Management LLC’s holdings in Medtronic were worth $10,714,000 at the end of the most recent quarter.

Several other institutional investors have also recently modified their holdings of the company. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in shares of Medtronic by 2.2% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 429,310 shares of the medical technology company’s stock worth $34,293,000 after purchasing an additional 9,395 shares during the last quarter. Argentarii LLC purchased a new position in shares of Medtronic during the 4th quarter valued at about $293,000. Amundi lifted its holdings in shares of Medtronic by 0.7% in the 4th quarter. Amundi now owns 4,883,584 shares of the medical technology company’s stock valued at $403,773,000 after buying an additional 31,794 shares during the period. Naviter Wealth LLC boosted its stake in shares of Medtronic by 19.1% in the fourth quarter. Naviter Wealth LLC now owns 19,473 shares of the medical technology company’s stock worth $1,569,000 after buying an additional 3,120 shares during the last quarter. Finally, Larson Financial Group LLC grew its holdings in Medtronic by 20.1% during the fourth quarter. Larson Financial Group LLC now owns 29,635 shares of the medical technology company’s stock worth $2,367,000 after acquiring an additional 4,960 shares during the period. 82.06% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Medtronic

In other news, EVP Brett A. Wall sold 12,437 shares of the business’s stock in a transaction that occurred on 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 position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders own 0.20% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on MDT. Sanford C. Bernstein boosted their price target on Medtronic from $96.00 to $97.00 and gave the company an “outperform” rating in a report on Wednesday, November 20th. Robert W. Baird boosted 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. 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 research report on Wednesday, February 19th. Truist Financial cut their price objective 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. Finally, Royal Bank of Canada reissued an “outperform” rating and set a $105.00 target price on shares of Medtronic in a research note on Wednesday, February 19th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating, six have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $96.07.

Medtronic Trading Up 1.6 %

Shares of Medtronic stock opened at $94.58 on Monday. The company has a current ratio of 1.90, a quick ratio of 1.39 and a debt-to-equity ratio of 0.48. Medtronic plc has a twelve month low of $75.96 and a twelve month high of $95.57. The firm has a market capitalization of $121.30 billion, a PE ratio of 28.75, a P/E/G ratio of 2.22 and a beta of 0.80. The firm’s 50-day moving average price is $88.33 and its 200 day moving average price is $87.80.

Medtronic (NYSE:MDT) last released its earnings results on Tuesday, February 18th. The medical technology company reported $1.39 earnings per share for the quarter, beating the consensus estimate of $1.36 by $0.03. Medtronic had a return on equity of 14.07% and a net margin of 12.83%. The business had revenue of $8.29 billion for the quarter, compared to the consensus estimate of $8.33 billion. On average, sell-side analysts predict that Medtronic plc will post 5.46 EPS for the current fiscal year.

Medtronic Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, April 11th. Shareholders of record on Friday, March 28th will be paid a dividend of $0.70 per share. The ex-dividend date is Friday, March 28th. This represents a $2.80 annualized dividend and a yield of 2.96%. Medtronic’s dividend payout ratio (DPR) is presently 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.