Medtronic plc (NYSE:MDT) Shares Sold by Benin Management CORP

Benin Management CORP lowered its holdings in Medtronic plc (NYSE:MDT) by 0.9% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 16,176 shares of the medical technology company’s stock after selling 150 shares during the period. Benin Management CORP’s holdings in Medtronic were worth $1,292,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in Medtronic by 436.7% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 7,343,385 shares of the medical technology company’s stock valued at $661,125,000 after purchasing an additional 5,975,110 shares during the period. Bank of Montreal Can raised its holdings in shares of Medtronic by 65.0% during the 3rd quarter. Bank of Montreal Can now owns 4,546,819 shares of the medical technology company’s stock valued at $406,122,000 after buying an additional 1,790,483 shares during the period. Healthcare of Ontario Pension Plan Trust Fund lifted its position in Medtronic by 1,195.9% during the 2nd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 1,837,600 shares of the medical technology company’s stock worth $144,637,000 after acquiring an additional 1,695,800 shares in the last quarter. Janus Henderson Group PLC boosted its holdings in Medtronic by 58.4% in the 3rd quarter. Janus Henderson Group PLC now owns 3,850,914 shares of the medical technology company’s stock worth $346,705,000 after acquiring an additional 1,420,263 shares during the period. Finally, International Assets Investment Management LLC grew its position in Medtronic by 8,908.6% in the third quarter. International Assets Investment Management LLC now owns 1,298,415 shares of the medical technology company’s stock valued at $116,896,000 after acquiring an additional 1,284,002 shares in the last quarter. Hedge funds and other institutional investors own 82.06% of the company’s stock.

Insider Buying and Selling at Medtronic

In other Medtronic news, EVP Brett A. Wall sold 9,850 shares of Medtronic stock in a transaction on Wednesday, January 8th. The stock was sold at an average price of $80.41, for a total transaction of $792,038.50. Following the sale, the executive vice president now owns 40,708 shares of the company’s stock, valued at $3,273,330.28. The trade was a 19.48 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.20% of the stock is currently owned by company insiders.

Medtronic Stock Performance

Shares of NYSE MDT opened at $90.07 on Friday. The company has a quick ratio of 1.39, a current ratio of 1.84 and a debt-to-equity ratio of 0.51. The firm’s 50-day moving average price is $83.70 and its two-hundred day moving average price is $85.41. Medtronic plc has a 52-week low of $75.96 and a 52-week high of $92.68. The stock has a market capitalization of $115.49 billion, a P/E ratio of 27.54, a P/E/G ratio of 2.49 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 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.25 by $0.01. The business had revenue of $8.40 billion for the quarter, compared to the consensus estimate of $8.27 billion. Medtronic had a return on equity of 13.79% and a net margin of 13.00%. The business’s revenue was up 5.2% on a year-over-year basis. During the same quarter last year, the business posted $1.25 EPS. As a group, sell-side analysts forecast that Medtronic plc will post 5.45 earnings per share for the current year.

Medtronic Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, January 10th. Investors of record on Friday, December 27th were given a $0.70 dividend. The ex-dividend date of this dividend was Friday, December 27th. This represents a $2.80 annualized dividend and a yield of 3.11%. Medtronic’s dividend payout ratio is presently 85.63%.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on MDT. Robert W. Baird decreased their target price on shares of Medtronic from $96.00 to $93.00 and set a “neutral” rating for the company in a research note on Wednesday, November 20th. Sanford C. Bernstein upped their price objective on shares of Medtronic from $96.00 to $97.00 and gave the company an “outperform” rating in a research report on Wednesday, November 20th. Truist Financial dropped their target price on Medtronic from $93.00 to $89.00 and set a “hold” rating on the stock in a research report on Wednesday, December 18th. Needham & Company LLC reissued a “hold” rating on shares of Medtronic in a report on Monday, November 18th. Finally, JPMorgan Chase & Co. dropped their price objective on Medtronic from $99.00 to $96.00 and set a “neutral” rating on the stock in a report on Friday, November 15th. One analyst has rated the stock with a sell rating, nine have given a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $95.00.

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.