Great Waters Wealth Management Sells 1,844 Shares of Medtronic plc (NYSE:MDT)

Great Waters Wealth Management reduced its stake in shares of Medtronic plc (NYSE:MDT) by 12.9% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 12,439 shares of the medical technology company’s stock after selling 1,844 shares during the quarter. Great Waters Wealth Management’s holdings in Medtronic were worth $994,000 at the end of the most recent quarter.

A number of other hedge funds have also recently bought and sold shares of the stock. Fortitude Family Office LLC acquired a new position in shares of Medtronic during the third quarter valued at about $27,000. Highline Wealth Partners LLC bought a new position in Medtronic during the third quarter valued at about $27,000. Darwin Wealth Management LLC bought a new position in Medtronic during the third quarter valued at about $27,000. J. Stern & Co. LLP acquired a new position in Medtronic in the 3rd quarter valued at approximately $30,000. Finally, Kieckhefer Group LLC bought a new stake in shares of Medtronic in the 4th quarter worth approximately $40,000. 82.06% of the stock is owned by institutional investors.

Insider Buying and Selling

In other Medtronic news, EVP Brett A. Wall sold 9,850 shares of the stock in a transaction dated Wednesday, January 8th. The stock was sold at an average price of $80.41, for a total value of $792,038.50. Following the completion of the sale, the executive vice president now directly owns 40,708 shares in the company, valued at $3,273,330.28. This represents a 19.48 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.20% of the stock is owned by insiders.

Medtronic Trading Up 1.2 %

MDT opened at $88.23 on Tuesday. The firm has a 50 day simple moving average of $83.64 and a 200 day simple moving average of $85.29. Medtronic plc has a fifty-two week low of $75.96 and a fifty-two week high of $92.68. The company has a market cap of $113.13 billion, a price-to-earnings ratio of 26.98, a price-to-earnings-growth ratio of 2.49 and a beta of 0.83. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.84 and a quick ratio of 1.39.

Medtronic (NYSE:MDT) last issued its earnings results on Tuesday, November 19th. The medical technology company reported $1.26 EPS for the quarter, beating the consensus estimate of $1.25 by $0.01. Medtronic had a net margin of 13.00% and a return on equity of 13.79%. The company had revenue of $8.40 billion during the quarter, compared to analysts’ expectations of $8.27 billion. During the same quarter in the previous year, the company posted $1.25 EPS. The business’s revenue for the quarter was up 5.2% compared to the same quarter last year. On average, sell-side analysts anticipate that Medtronic plc will post 5.45 earnings per share for the current year.

Medtronic Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, January 10th. Stockholders of record on Friday, December 27th were paid a $0.70 dividend. The ex-dividend date 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 (DPR) is presently 85.63%.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on MDT shares. Truist Financial lowered their price objective on Medtronic from $93.00 to $89.00 and set a “hold” rating on the stock in a research report on Wednesday, December 18th. Robert W. Baird lowered their price target on shares of Medtronic from $96.00 to $93.00 and set a “neutral” rating on the stock in a report on Wednesday, November 20th. JPMorgan Chase & Co. decreased their target price on shares of Medtronic from $99.00 to $96.00 and set a “neutral” rating on the stock in a research report on Friday, November 15th. Needham & Company LLC reissued a “hold” rating on shares of Medtronic in a research report on Monday, November 18th. Finally, Barclays upped their price objective on Medtronic from $105.00 to $109.00 and gave the company an “overweight” rating in a research note on Tuesday, November 26th. One analyst has rated the stock with a sell rating, nine have assigned a hold rating, six have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $95.00.

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.