Cambridge Trust Co. Trims Position in Medtronic plc (NYSE:MDT)

Cambridge Trust Co. decreased its position in shares of Medtronic plc (NYSE:MDT) by 22.5% during the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 19,123 shares of the medical technology company’s stock after selling 5,541 shares during the quarter. Cambridge Trust Co.’s holdings in Medtronic were worth $1,575,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of MDT. Marino Stram & Associates LLC increased its stake in shares of Medtronic by 1.8% during the fourth quarter. Marino Stram & Associates LLC now owns 7,127 shares of the medical technology company’s stock worth $587,000 after purchasing an additional 126 shares in the last quarter. SRS Capital Advisors Inc. boosted its holdings in shares of Medtronic by 19.6% during the 2nd quarter. SRS Capital Advisors Inc. now owns 782 shares of the medical technology company’s stock worth $69,000 after purchasing an additional 128 shares during the last quarter. Modera Wealth Management LLC grew its holdings in Medtronic by 3.9% in the 3rd quarter. Modera Wealth Management LLC now owns 3,537 shares of the medical technology company’s stock valued at $277,000 after buying an additional 133 shares in the last quarter. jvl associates llc increased its position in Medtronic by 3.8% during the fourth quarter. jvl associates llc now owns 3,840 shares of the medical technology company’s stock worth $316,000 after purchasing an additional 139 shares during the last quarter. Finally, Washington Trust Advisors Inc. increased its holdings in shares of Medtronic by 7.1% during the 3rd quarter. Washington Trust Advisors Inc. now owns 2,102 shares of the medical technology company’s stock worth $165,000 after buying an additional 140 shares during the last quarter. Institutional investors own 82.06% of the company’s stock.

Insider Buying and Selling

In other Medtronic news, EVP Michael Marinaro sold 854 shares of the company’s stock in a transaction on Monday, April 8th. The shares were sold at an average price of $83.14, for a total value of $71,001.56. Following the completion of the transaction, the executive vice president now owns 27,925 shares in the company, valued at $2,321,684.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Medtronic news, EVP Sean Salmon sold 30,695 shares of Medtronic stock in a transaction on 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 transaction, the executive vice president now directly owns 48,289 shares in the company, valued at $4,110,842.57. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP Michael Marinaro sold 854 shares of the firm’s stock in a transaction dated Monday, April 8th. The stock was sold at an average price of $83.14, for a total value of $71,001.56. Following the transaction, the executive vice president now directly owns 27,925 shares in the company, valued at approximately $2,321,684.50. The disclosure for this sale can be found here. 0.30% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

MDT has been the subject of a number of recent analyst reports. Oppenheimer raised their price objective on Medtronic from $89.00 to $92.00 and gave the stock a “market perform” rating in a research report on Wednesday, February 21st. Royal Bank of Canada reissued a “sector perform” rating and issued a $92.00 target price on shares of Medtronic in a research report on Wednesday, February 21st. Truist Financial upped their price target on Medtronic from $87.00 to $90.00 and gave the stock a “hold” rating in a research note on Wednesday, February 21st. Finally, Mizuho lifted their price objective on 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 given a hold rating and seven have issued a buy rating to the stock. According to MarketBeat, Medtronic has a consensus rating of “Moderate Buy” and an average target price of $94.91.

Medtronic Trading Up 0.1 %

NYSE MDT opened at $79.19 on Friday. Medtronic plc has a 52 week low of $68.84 and a 52 week high of $92.02. The firm has a 50 day moving average of $84.04 and a two-hundred day moving average of $81.00. The company has a quick ratio of 1.71, a current ratio of 2.30 and a debt-to-equity ratio of 0.46. The stock has a market capitalization of $105.15 billion, a PE ratio of 25.22, a price-to-earnings-growth ratio of 2.71 and a beta of 0.76.

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

Medtronic Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, April 12th. Investors of record on Friday, March 22nd were given a $0.69 dividend. This represents a $2.76 dividend on an annualized basis and a dividend yield of 3.49%. The ex-dividend date was Thursday, March 21st. Medtronic’s dividend payout ratio (DPR) is 87.90%.

Medtronic Company 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.