Medtronic plc (NYSE:MDT) Position Reduced by Mayflower Financial Advisors LLC

Mayflower Financial Advisors LLC lowered its stake in Medtronic plc (NYSE:MDT) by 2.0% in the 4th quarter, Holdings Channel.com reports. The firm owned 6,675 shares of the medical technology company’s stock after selling 133 shares during the period. Mayflower Financial Advisors LLC’s holdings in Medtronic were worth $533,000 as of its most recent SEC filing.

A number of other institutional investors have also modified their holdings of MDT. Patriot Financial Group Insurance Agency LLC grew its stake in Medtronic by 5.1% in the fourth quarter. Patriot Financial Group Insurance Agency LLC now owns 24,256 shares of the medical technology company’s stock worth $1,938,000 after purchasing an additional 1,181 shares in the last quarter. Perigon Wealth Management LLC grew its position in shares of Medtronic by 9.1% in the 4th quarter. Perigon Wealth Management LLC now owns 12,782 shares of the medical technology company’s stock worth $1,114,000 after acquiring an additional 1,062 shares in the last quarter. Patrick M Sweeney & Associates Inc. grew its position in shares of Medtronic by 7.0% in the 4th quarter. Patrick M Sweeney & Associates Inc. now owns 6,954 shares of the medical technology company’s stock worth $555,000 after acquiring an additional 455 shares in the last quarter. Matrix Asset Advisors Inc. NY increased its holdings in shares of Medtronic by 5.1% in the 4th quarter. Matrix Asset Advisors Inc. NY now owns 323,955 shares of the medical technology company’s stock valued at $25,878,000 after acquiring an additional 15,589 shares during the last quarter. Finally, Curbstone Financial Management Corp raised its position in shares of Medtronic by 10.0% during the 4th quarter. Curbstone Financial Management Corp now owns 5,044 shares of the medical technology company’s stock valued at $403,000 after acquiring an additional 458 shares in the last quarter. Institutional investors and hedge funds own 82.06% of the company’s stock.

Medtronic Stock Performance

MDT stock opened at $91.51 on Thursday. The company has a 50-day simple moving average of $83.99 and a 200 day simple moving average of $85.83. The company has a market capitalization of $117.34 billion, a P/E ratio of 27.98, a PEG ratio of 2.49 and a beta of 0.83. 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 plc has a fifty-two week low of $75.96 and a fifty-two week high of $93.08.

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

Medtronic Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, January 10th. Stockholders of record on Friday, December 27th were given a dividend of $0.70 per share. This represents a $2.80 annualized dividend and a dividend yield of 3.06%. The ex-dividend date of this dividend was Friday, December 27th. Medtronic’s dividend payout ratio (DPR) is presently 85.63%.

Wall Street Analyst Weigh In

Several research firms have weighed in on MDT. JPMorgan Chase & Co. lowered their target price on shares of Medtronic from $99.00 to $96.00 and set a “neutral” rating for the company in a research note on Friday, November 15th. Wells Fargo & Company dropped their price objective on shares of Medtronic from $106.00 to $98.00 and set an “overweight” rating on the stock in a research note on Wednesday, November 20th. Needham & Company LLC restated a “hold” rating on shares of Medtronic in a research note on Monday, November 18th. Robert W. Baird dropped their price target on Medtronic from $96.00 to $93.00 and set a “neutral” rating on the stock in a research report on Wednesday, November 20th. Finally, Truist Financial reduced their price objective on Medtronic from $93.00 to $89.00 and set a “hold” rating for the company in a research report on Wednesday, December 18th. One research analyst has rated the stock with a sell rating, nine have given a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $95.00.

Insider Transactions at Medtronic

In other news, EVP Brett A. Wall sold 12,437 shares of Medtronic stock in a transaction that occurred on Friday, January 24th. The shares were sold at an average price of $90.00, for a total value of $1,119,330.00. Following the transaction, the executive vice president now owns 40,979 shares of the company’s stock, valued at $3,688,110. The trade was a 23.28 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Company insiders own 0.20% of the company’s stock.

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.