Medtronic plc (NYSE:MDT) Shares Sold by US Bancorp DE

US Bancorp DE reduced its holdings in Medtronic plc (NYSE:MDTFree Report) by 4.0% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,586,697 shares of the medical technology company’s stock after selling 66,499 shares during the quarter. US Bancorp DE owned about 0.12% of Medtronic worth $130,713,000 at the end of the most recent quarter.

Other institutional investors have also recently modified their holdings of the company. Fortitude Family Office LLC purchased a new position in Medtronic in the 4th quarter valued at approximately $25,000. Leith Wheeler Investment Counsel Ltd. increased its position in shares of Medtronic by 293.0% in the fourth quarter. Leith Wheeler Investment Counsel Ltd. now owns 316,643 shares of the medical technology company’s stock valued at $26,000 after buying an additional 236,064 shares in the last quarter. MeadowBrook Investment Advisors LLC acquired a new position in shares of Medtronic during the 4th quarter worth $27,000. Financial Gravity Asset Management Inc. raised its stake in shares of Medtronic by 317.0% during the 3rd quarter. Financial Gravity Asset Management Inc. now owns 367 shares of the medical technology company’s stock worth $29,000 after buying an additional 279 shares during the last quarter. Finally, Hartford Financial Management Inc. boosted its position in shares of Medtronic by 52.1% in the 4th quarter. Hartford Financial Management Inc. now owns 479 shares of the medical technology company’s stock worth $39,000 after buying an additional 164 shares in the last quarter. 82.06% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other Medtronic news, EVP Michael Marinaro sold 854 shares of the business’s stock in a transaction that occurred on Monday, April 8th. The shares were sold at an average price of $83.14, for a total transaction of $71,001.56. Following the completion of the sale, the executive vice president now directly owns 27,925 shares in the company, valued at $2,321,684.50. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Corporate insiders own 0.30% of the company’s stock.

Medtronic Trading Up 0.5 %

Shares of MDT traded up $0.41 during mid-day trading on Friday, hitting $81.79. The company had a trading volume of 3,152,864 shares, compared to its average volume of 6,127,395. Medtronic plc has a 1-year low of $68.84 and a 1-year high of $91.00. The business’s 50-day simple moving average is $82.84 and its 200-day simple moving average is $82.62. The stock has a market cap of $108.60 billion, a PE ratio of 26.09, a P/E/G ratio of 2.79 and a beta of 0.78. The company has a quick ratio of 1.71, a current ratio of 2.30 and a debt-to-equity ratio of 0.46.

Medtronic (NYSE:MDTGet Free Report) last announced its quarterly earnings data on Thursday, May 23rd. The medical technology company reported $1.46 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.45 by $0.01. The company had revenue of $8.59 billion during the quarter, compared to analysts’ expectations of $8.44 billion. Medtronic had a net margin of 13.00% and a return on equity of 13.71%. The business’s quarterly revenue was up .5% compared to the same quarter last year. During the same period in the previous year, the company earned $1.57 EPS. Sell-side analysts forecast that Medtronic plc will post 5.2 earnings per share for the current year.

Medtronic Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, July 12th. Shareholders of record on Friday, June 28th will be paid a dividend of $0.70 per share. The ex-dividend date is Friday, June 28th. This is a positive change from Medtronic’s previous quarterly dividend of $0.69. This represents a $2.80 annualized dividend and a yield of 3.42%. Medtronic’s dividend payout ratio is currently 87.90%.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on MDT. Needham & Company LLC restated a “hold” rating on shares of Medtronic in a research report on Friday. UBS Group lifted their price objective on Medtronic from $75.00 to $76.00 and gave the stock a “sell” rating in a research report on Friday. Truist Financial lowered their target price on Medtronic from $90.00 to $88.00 and set a “hold” rating on the stock in a report on Friday. Wells Fargo & Company boosted their price target on Medtronic from $102.00 to $105.00 and gave the stock an “overweight” rating in a report on Friday. Finally, Royal Bank of Canada reaffirmed a “sector perform” rating and set a $92.00 price objective on shares of Medtronic in a research note on Friday. One analyst has rated the stock with a sell rating, five have assigned a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $94.45.

View Our Latest Stock Analysis on MDT

Medtronic Profile

(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.

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Institutional Ownership by Quarter for Medtronic (NYSE:MDT)

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