Medtronic plc (NYSE:MDT) Stock Position Decreased by Alan B Lancz & Associates Inc.

Alan B Lancz & Associates Inc. lowered its holdings in Medtronic plc (NYSE:MDT) by 6.6% during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 9,958 shares of the medical technology company’s stock after selling 700 shares during the period. Medtronic comprises about 0.8% of Alan B Lancz & Associates Inc.’s investment portfolio, making the stock its 28th biggest holding. Alan B Lancz & Associates Inc.’s holdings in Medtronic were worth $795,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the stock. Fortitude Family Office LLC bought a new stake in Medtronic in the 3rd quarter valued at about $27,000. Darwin Wealth Management LLC acquired a new position in shares of Medtronic during the third quarter worth approximately $27,000. Highline Wealth Partners LLC bought a new position in Medtronic in the 3rd quarter worth approximately $27,000. J. Stern & Co. LLP acquired a new stake in Medtronic in the 3rd quarter valued at approximately $30,000. Finally, Chelsea Counsel Co. acquired a new stake in Medtronic in the 3rd quarter valued at approximately $45,000. 82.06% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In related news, EVP Brett A. Wall sold 9,850 shares of the company’s 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 transaction, the executive vice president now directly owns 40,708 shares of the company’s stock, valued at approximately $3,273,330.28. The trade was a 19.48 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 0.20% of the company’s stock.

Analyst Ratings Changes

MDT has been the subject of several recent analyst reports. Truist Financial decreased their price target on Medtronic from $93.00 to $89.00 and set a “hold” rating for the company in a research note on Wednesday, December 18th. Sanford C. Bernstein raised their target price 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. Needham & Company LLC restated a “hold” rating on shares of Medtronic in a research report on Monday, November 18th. Wells Fargo & Company decreased their price objective on shares of Medtronic from $106.00 to $98.00 and set an “overweight” rating for the company in a report on Wednesday, November 20th. Finally, JPMorgan Chase & Co. lowered their price objective on shares of Medtronic from $99.00 to $96.00 and set a “neutral” rating on the stock in a research note on Friday, November 15th. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $95.00.

Medtronic Trading Up 0.9 %

NYSE:MDT opened at $90.07 on Friday. The stock has a fifty day simple moving average of $83.75 and a 200 day simple moving average of $85.50. The firm has a market capitalization of $115.49 billion, a price-to-earnings ratio of 27.54, a price-to-earnings-growth ratio of 2.49 and a beta of 0.83. Medtronic plc has a 1-year low of $75.96 and a 1-year high of $92.68. The company has a quick ratio of 1.39, a current ratio of 1.84 and a debt-to-equity ratio of 0.51.

Medtronic (NYSE:MDT) last announced its 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 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 period last year, the company posted $1.25 earnings per share. The business’s revenue for the quarter was up 5.2% on a year-over-year basis. Sell-side analysts forecast that Medtronic plc will post 5.45 earnings per share for the current year.

Medtronic Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, January 10th. Shareholders of record on Friday, December 27th were paid a dividend of $0.70 per share. This represents a $2.80 annualized dividend and a yield of 3.11%. The ex-dividend date was Friday, December 27th. Medtronic’s dividend payout ratio (DPR) is currently 85.63%.

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.