Medtronic plc (NYSE:MDT) Shares Sold by S.A. Mason LLC

S.A. Mason LLC decreased its holdings in shares of Medtronic plc (NYSE:MDT) by 33.1% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 723 shares of the medical technology company’s stock after selling 357 shares during the quarter. S.A. Mason LLC’s holdings in Medtronic were worth $60,000 at the end of the most recent quarter.

Several other hedge funds have also made changes to their positions in the stock. BKM Wealth Management LLC bought a new position in shares of Medtronic during the fourth quarter worth about $941,000. Perceptive Advisors LLC bought a new position in Medtronic in the 2nd quarter worth approximately $41,143,000. Tower Research Capital LLC TRC increased its position in Medtronic by 69.3% in the 3rd quarter. Tower Research Capital LLC TRC now owns 40,476 shares of the medical technology company’s stock valued at $3,172,000 after acquiring an additional 16,574 shares during the period. Ropes Wealth Advisors LLC boosted its position in Medtronic by 21.4% during the 3rd quarter. Ropes Wealth Advisors LLC now owns 7,205 shares of the medical technology company’s stock worth $565,000 after acquiring an additional 1,269 shares during the period. Finally, Exchange Traded Concepts LLC grew its stake in shares of Medtronic by 109,325.0% in the fourth quarter. Exchange Traded Concepts LLC now owns 91,917 shares of the medical technology company’s stock worth $7,572,000 after purchasing an additional 91,833 shares in the last quarter. Institutional investors own 82.06% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on the company. Royal Bank of Canada reissued a “sector perform” rating and set a $92.00 target price on shares of Medtronic in a report on Wednesday, February 21st. Truist Financial raised their target price on Medtronic from $87.00 to $90.00 and gave the company a “hold” rating in a research note on Wednesday, February 21st. Oppenheimer raised their target price on shares of Medtronic from $89.00 to $92.00 and gave the stock a “market perform” rating in a report on Wednesday, February 21st. Finally, Mizuho upped their price objective on shares of Medtronic from $95.00 to $98.00 and gave the company a “buy” rating in a research note on Wednesday, February 21st. One investment analyst has rated the stock with a sell rating, four have given a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat, Medtronic presently has an average rating of “Moderate Buy” and a consensus target price of $94.91.

Medtronic Price Performance

MDT opened at $86.92 on Thursday. The stock has a fifty day moving average price of $85.21 and a 200 day moving average price of $80.68. The company has a current ratio of 2.30, a quick ratio of 1.71 and a debt-to-equity ratio of 0.46. Medtronic plc has a 1 year low of $68.84 and a 1 year high of $92.02. The stock has a market cap of $115.41 billion, a price-to-earnings ratio of 27.68, a PEG ratio of 2.86 and a beta of 0.76.

Medtronic (NYSE:MDT) last announced its quarterly earnings results on Tuesday, February 20th. The medical technology company reported $1.30 earnings per share for the quarter, topping analysts’ consensus estimates of $1.26 by $0.04. Medtronic had a return on equity of 13.71% and a net margin of 13.00%. The company had revenue of $8.09 billion during the quarter, compared to analysts’ expectations of $7.95 billion. During the same quarter in the previous year, the firm earned $1.30 earnings per share. The business’s quarterly revenue was up 4.7% compared to the same quarter last year. Analysts forecast that Medtronic plc will post 5.2 EPS for the current fiscal year.

Medtronic Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, April 12th. Shareholders of record on Friday, March 22nd will be issued a $0.69 dividend. This represents a $2.76 dividend on an annualized basis and a yield of 3.18%. The ex-dividend date is Thursday, March 21st. Medtronic’s dividend payout ratio (DPR) is currently 87.90%.

Insider Transactions at Medtronic

In related news, EVP Sean Salmon sold 30,695 shares of the stock in a transaction dated Wednesday, February 21st. The shares were sold at an average price of $85.13, for a total value of $2,613,065.35. Following the completion of the sale, the executive vice president now owns 48,289 shares in the company, valued at $4,110,842.57. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Corporate insiders own 0.30% of the company’s stock.

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.