Medtronic plc (NYSE:MDT) Shares Sold by Howland Capital Management LLC

Howland Capital Management LLC trimmed its holdings in Medtronic plc (NYSE:MDTFree Report) by 27.2% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 5,198 shares of the medical technology company’s stock after selling 1,940 shares during the quarter. Howland Capital Management LLC’s holdings in Medtronic were worth $430,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in MDT. Hartford Financial Management Inc. increased its holdings in shares of Medtronic by 425.0% during the third quarter. Hartford Financial Management Inc. now owns 315 shares of the medical technology company’s stock valued at $25,000 after purchasing an additional 255 shares during the period. Fortitude Family Office LLC acquired a new position in Medtronic in the fourth quarter valued at about $25,000. Leith Wheeler Investment Counsel Ltd. grew its holdings in shares of Medtronic by 293.0% during the fourth quarter. Leith Wheeler Investment Counsel Ltd. now owns 316,643 shares of the medical technology company’s stock worth $26,000 after buying an additional 236,064 shares in the last quarter. Financial Gravity Asset Management Inc. grew its stake in Medtronic by 317.0% in the third quarter. Financial Gravity Asset Management Inc. now owns 367 shares of the medical technology company’s stock valued at $29,000 after purchasing an additional 279 shares in the last quarter. Finally, Princeton Global Asset Management LLC acquired a new stake in shares of Medtronic in the third quarter valued at approximately $31,000. 82.06% of the stock is currently owned by hedge funds and other institutional investors.

Medtronic Trading Up 0.2 %

Shares of Medtronic stock traded up $0.19 during midday trading on Wednesday, reaching $85.39. The company had a trading volume of 824,040 shares, compared to its average volume of 6,204,890. Medtronic plc has a fifty-two week low of $68.84 and a fifty-two week high of $92.02. The company has a debt-to-equity ratio of 0.46, a current ratio of 2.30 and a quick ratio of 1.71. The stock has a fifty day moving average price of $85.24 and a 200 day moving average price of $80.87. The firm has a market cap of $113.38 billion, a PE ratio of 27.13, a P/E/G ratio of 2.98 and a beta of 0.76.

Medtronic (NYSE:MDTGet Free Report) last announced its quarterly earnings results on Tuesday, February 20th. The medical technology company reported $1.30 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.26 by $0.04. Medtronic had a return on equity of 13.71% and a net margin of 13.00%. The business had revenue of $8.09 billion during the quarter, compared to the consensus estimate of $7.95 billion. During the same quarter in the prior year, the company posted $1.30 earnings per share. Medtronic’s revenue was up 4.7% compared to the same quarter last year. On average, equities analysts anticipate that Medtronic plc will post 5.2 earnings per share for the current year.

Medtronic Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, April 12th. Investors of record on Friday, March 22nd will be issued a dividend of $0.69 per share. The ex-dividend date is Thursday, March 21st. This represents a $2.76 dividend on an annualized basis and a yield of 3.23%. Medtronic’s dividend payout ratio (DPR) is 87.90%.

Analyst Ratings Changes

A number of equities research analysts have commented on the company. Oppenheimer upped their price target on Medtronic from $89.00 to $92.00 and gave the company a “market perform” rating in a research report on Wednesday, February 21st. Truist Financial lifted their price objective on Medtronic from $87.00 to $90.00 and gave the stock a “hold” rating in a report on Wednesday, February 21st. Royal Bank of Canada reissued a “sector perform” rating and issued a $92.00 price target on shares of Medtronic in a research report on Wednesday, February 21st. Finally, Mizuho boosted their target price 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 equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $94.91.

Check Out Our Latest Research Report on MDT

Insider Buying and Selling

In other Medtronic news, EVP Sean Salmon sold 30,695 shares of the company’s stock in a transaction dated Wednesday, February 21st. The stock was sold at an average price of $85.13, for a total value of $2,613,065.35. Following the transaction, the executive vice president now directly owns 48,289 shares in the company, valued at approximately $4,110,842.57. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.30% of the stock is currently owned by insiders.

About Medtronic

(Free Report)

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.

Further Reading

Institutional Ownership by Quarter for Medtronic (NYSE:MDT)

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