Hall Laurie J Trustee Grows Stake in Medtronic plc (NYSE:MDT)

Hall Laurie J Trustee boosted its stake in Medtronic plc (NYSE:MDT) by 2.9% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 45,350 shares of the medical technology company’s stock after buying an additional 1,290 shares during the quarter. Medtronic makes up approximately 1.2% of Hall Laurie J Trustee’s portfolio, making the stock its 27th largest holding. Hall Laurie J Trustee’s holdings in Medtronic were worth $3,622,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Edgestream Partners L.P. acquired a new stake in shares of Medtronic in the 2nd quarter worth $239,000. AE Wealth Management LLC lifted its holdings in shares of Medtronic by 24.7% in the 2nd quarter. AE Wealth Management LLC now owns 9,578 shares of the medical technology company’s stock worth $754,000 after acquiring an additional 1,896 shares during the last quarter. Pacer Advisors Inc. increased its holdings in Medtronic by 37.6% in the 2nd quarter. Pacer Advisors Inc. now owns 124,197 shares of the medical technology company’s stock valued at $9,776,000 after purchasing an additional 33,959 shares during the last quarter. Summit Trail Advisors LLC raised its holdings in shares of Medtronic by 1.2% in the 2nd quarter. Summit Trail Advisors LLC now owns 14,812 shares of the medical technology company’s stock valued at $1,176,000 after buying an additional 169 shares during the period. Finally, Ensign Peak Advisors Inc increased its stake in Medtronic by 5.9% during the second quarter. Ensign Peak Advisors Inc now owns 388,629 shares of the medical technology company’s stock worth $30,589,000 after purchasing an additional 21,545 shares during the period. 82.06% of the stock is currently owned by institutional investors and hedge funds.

Medtronic Stock Performance

NYSE MDT opened at $88.23 on Monday. The business’s 50-day moving average price is $83.64 and its 200 day moving average price is $85.16. The company has a current ratio of 1.84, a quick ratio of 1.39 and a debt-to-equity ratio of 0.51. Medtronic plc has a twelve month low of $75.96 and a twelve month high of $92.68. The company has a market capitalization of $113.13 billion, a PE ratio of 26.98, a price-to-earnings-growth ratio of 2.28 and a beta of 0.83.

Medtronic (NYSE:MDT) last announced its quarterly earnings results on Tuesday, November 19th. The medical technology company reported $1.26 EPS for the quarter, topping the consensus estimate of $1.25 by $0.01. Medtronic had a return on equity of 13.79% and a net margin of 13.00%. The company had revenue of $8.40 billion during the quarter, compared to analyst estimates of $8.27 billion. During the same period in the prior year, the firm posted $1.25 earnings per share. The firm’s revenue was up 5.2% on a year-over-year basis. On average, research analysts predict that Medtronic plc will post 5.45 earnings per share for the current year.

Medtronic Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, January 10th. Stockholders of record on Friday, December 27th were paid a dividend of $0.70 per share. The ex-dividend date of this dividend was Friday, December 27th. This represents a $2.80 dividend on an annualized basis and a dividend yield of 3.17%. Medtronic’s dividend payout ratio is currently 85.63%.

Analyst Upgrades and Downgrades

MDT has been the topic of several analyst reports. Citigroup raised their target price on shares of Medtronic from $85.00 to $92.00 and gave the company a “neutral” rating in a report on Tuesday, October 1st. Truist Financial cut their target price on shares of Medtronic from $93.00 to $89.00 and set a “hold” rating on the stock in a report on Wednesday, December 18th. Wells Fargo & Company dropped their target price on Medtronic from $106.00 to $98.00 and set an “overweight” rating on the stock in a report on Wednesday, November 20th. Robert W. Baird cut their price target on shares of Medtronic from $96.00 to $93.00 and set a “neutral” rating for the company in a report on Wednesday, November 20th. Finally, Sanford C. Bernstein raised their price objective on shares of Medtronic from $96.00 to $97.00 and gave the company an “outperform” rating in a research note on Wednesday, November 20th. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating, six have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $95.00.

Insider Transactions at Medtronic

In other news, EVP Brett A. Wall sold 9,850 shares of the stock in a transaction dated Wednesday, January 8th. The shares were sold at an average price of $80.41, for a total transaction of $792,038.50. Following the transaction, the executive vice president now owns 40,708 shares of the company’s stock, valued at approximately $3,273,330.28. This trade represents a 19.48 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.20% of the company’s stock.

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.