Everett Harris & Co. CA Sells 162 Shares of Medtronic plc (NYSE:MDT)

Everett Harris & Co. CA decreased its holdings in Medtronic plc (NYSE:MDT) by 0.3% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 48,283 shares of the medical technology company’s stock after selling 162 shares during the period. Everett Harris & Co. CA’s holdings in Medtronic were worth $4,208,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in MDT. Morgan Stanley lifted its stake in Medtronic by 9.2% in the third quarter. Morgan Stanley now owns 23,777,808 shares of the medical technology company’s stock worth $1,863,229,000 after purchasing an additional 1,994,123 shares during the last quarter. Norges Bank bought a new stake in Medtronic in the fourth quarter worth about $1,229,726,000. Sanders Capital LLC lifted its stake in Medtronic by 2.8% in the fourth quarter. Sanders Capital LLC now owns 12,634,161 shares of the medical technology company’s stock worth $1,040,802,000 after purchasing an additional 346,641 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its stake in Medtronic by 0.9% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 11,089,400 shares of the medical technology company’s stock worth $893,352,000 after purchasing an additional 101,111 shares during the last quarter. Finally, American Century Companies Inc. increased its position in shares of Medtronic by 6.7% during the third quarter. American Century Companies Inc. now owns 10,297,135 shares of the medical technology company’s stock worth $806,883,000 after acquiring an additional 649,367 shares during the period. Institutional investors own 82.06% of the company’s stock.

Medtronic Stock Down 0.3 %

MDT traded down $0.20 during trading on Thursday, hitting $77.17. The stock had a trading volume of 2,838,401 shares, compared to its average volume of 6,333,819. The company has a market capitalization of $98.95 billion, a PE ratio of 28.06, a PEG ratio of 2.25 and a beta of 0.82. Medtronic plc has a twelve month low of $68.84 and a twelve month high of $91.00. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.55 and a current ratio of 2.03. The stock has a 50 day simple moving average of $81.64 and a two-hundred day simple moving average of $83.41.

Medtronic (NYSE:MDT) last posted its quarterly earnings data on Thursday, May 23rd. The medical technology company reported $1.46 EPS for the quarter, topping the consensus estimate of $1.45 by $0.01. Medtronic had a net margin of 11.36% and a return on equity of 13.47%. The business had revenue of $8.59 billion during the quarter, compared to the consensus estimate of $8.44 billion. During the same period in the previous year, the firm posted $1.57 earnings per share. The business’s revenue for the quarter was up .5% compared to the same quarter last year. On average, research analysts predict that Medtronic plc will post 5.44 earnings per share for the current year.

Medtronic Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, July 12th. Stockholders of record on Friday, June 28th will be paid a dividend of $0.70 per share. This is an increase from Medtronic’s previous quarterly dividend of $0.69. This represents a $2.80 annualized dividend and a dividend yield of 3.63%. The ex-dividend date of this dividend is Friday, June 28th. Medtronic’s payout ratio is presently 101.82%.

Insider Transactions at Medtronic

In other news, CEO Geoffrey Martha sold 19,113 shares of Medtronic stock in a transaction on Friday, June 7th. The shares were sold at an average price of $83.77, for a total transaction of $1,601,096.01. Following the completion of the sale, the chief executive officer now directly owns 143,348 shares in the company, valued at $12,008,261.96. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In related news, CEO Geoffrey Martha sold 19,113 shares of the firm’s stock in a transaction on Friday, June 7th. The shares were sold at an average price of $83.77, for a total transaction of $1,601,096.01. Following the completion of the transaction, the chief executive officer now owns 143,348 shares of the company’s stock, valued at $12,008,261.96. The sale was disclosed in a filing 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 on Monday, April 8th. The stock was sold at an average price of $83.14, for a total transaction of $71,001.56. Following the transaction, the executive vice president now directly owns 27,925 shares of the company’s stock, valued at approximately $2,321,684.50. The disclosure for this sale can be found here. Insiders own 0.30% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on the stock. The Goldman Sachs Group assumed coverage on shares of Medtronic in a research report on Thursday, May 30th. They set a “sell” rating and a $83.00 target price on the stock. Truist Financial reduced their target price on shares of Medtronic from $90.00 to $88.00 and set a “hold” rating on the stock in a research report on Friday, May 24th. Wells Fargo & Company raised their target price on shares of Medtronic from $102.00 to $105.00 and gave the stock an “overweight” rating in a research report on Friday, May 24th. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $92.00 target price on shares of Medtronic in a research report on Wednesday, June 5th. Finally, Needham & Company LLC reaffirmed a “hold” rating on shares of Medtronic in a research report on Friday, May 24th. Two equities research analysts have rated the stock with a sell rating, five have given a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $91.70.

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.