Moreno Evelyn V Trims Position in Medtronic plc (NYSE:MDT)

Moreno Evelyn V decreased its position in shares of Medtronic plc (NYSE:MDT) by 63.7% during the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 26,534 shares of the medical technology company’s stock after selling 46,546 shares during the quarter. Moreno Evelyn V’s holdings in Medtronic were worth $2,186,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of MDT. Signaturefd LLC increased its stake in Medtronic by 7.3% in the 3rd quarter. Signaturefd LLC now owns 15,600 shares of the medical technology company’s stock worth $1,222,000 after buying an additional 1,061 shares in the last quarter. Aspire Private Capital LLC increased its stake in Medtronic by 22.1% in the 3rd quarter. Aspire Private Capital LLC now owns 1,590 shares of the medical technology company’s stock worth $125,000 after buying an additional 288 shares in the last quarter. Regent Peak Wealth Advisors LLC increased its stake in Medtronic by 1.5% in the 3rd quarter. Regent Peak Wealth Advisors LLC now owns 25,287 shares of the medical technology company’s stock worth $1,981,000 after buying an additional 370 shares in the last quarter. NBC Securities Inc. purchased a new stake in Medtronic in the 3rd quarter worth $3,128,000. Finally, Pinnacle Financial Partners Inc increased its stake in Medtronic by 0.8% in the 3rd quarter. Pinnacle Financial Partners Inc now owns 288,804 shares of the medical technology company’s stock worth $22,631,000 after buying an additional 2,335 shares in the last quarter. Institutional investors own 82.06% of the company’s stock.

Wall Street Analyst Weigh In

MDT has been the subject of a number of analyst reports. Oppenheimer increased their price target on Medtronic from $89.00 to $92.00 and gave the stock a “market perform” rating in a research note on Wednesday, February 21st. Royal Bank of Canada restated a “sector perform” rating and set a $92.00 price objective on shares of Medtronic in a research report on Wednesday, February 21st. Truist Financial raised their price objective on Medtronic from $87.00 to $90.00 and gave the company a “hold” rating in a research report on Wednesday, February 21st. Finally, Mizuho lifted their price target on Medtronic from $95.00 to $98.00 and gave the stock a “buy” rating in a research report on Wednesday, February 21st. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat.com, Medtronic presently has a consensus rating of “Hold” and an average target price of $94.91.

Insider Buying and Selling

In related news, EVP Michael Marinaro sold 854 shares of the stock in a transaction that occurred 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 transaction, the executive vice president now owns 27,925 shares in the company, valued at approximately $2,321,684.50. The sale was disclosed in a filing with the SEC, which is available through this link. 0.30% of the stock is owned by corporate insiders.

Medtronic Stock Down 3.5 %

Shares of MDT stock traded down $3.00 during mid-day trading on Thursday, hitting $82.76. 5,862,247 shares of the stock traded hands, compared to its average volume of 6,109,409. The stock has a market cap of $109.89 billion, a P/E ratio of 26.66, a P/E/G ratio of 2.78 and a beta of 0.78. The stock’s fifty day moving average is $82.90 and its two-hundred day moving average is $82.62. Medtronic plc has a 52-week low of $68.84 and a 52-week high of $91.00. The company has a debt-to-equity ratio of 0.46, a current ratio of 2.30 and a quick ratio of 1.71.

Medtronic (NYSE:MDT) last announced its quarterly earnings data on Thursday, May 23rd. The medical technology company reported $1.46 EPS for the quarter, beating the consensus estimate of $1.45 by $0.01. The firm had revenue of $8.59 billion during the quarter, compared to analyst estimates of $8.44 billion. Medtronic had a net margin of 13.00% and a return on equity of 13.71%. Medtronic’s revenue was up .5% on a year-over-year basis. During the same period last year, the firm posted $1.57 EPS. Equities analysts predict that Medtronic plc will post 5.2 EPS for the current year.

Medtronic Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, July 12th. Investors of record on Friday, June 28th will be issued a $0.70 dividend. This represents a $2.80 annualized dividend and a yield of 3.38%. This is an increase from Medtronic’s previous quarterly dividend of $0.69. Medtronic’s dividend payout ratio 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.