Bigelow Investment Advisors LLC Decreases Stake in Medtronic plc (NYSE:MDT)

Bigelow Investment Advisors LLC lessened its holdings in Medtronic plc (NYSE:MDT) by 12.5% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 13,969 shares of the medical technology company’s stock after selling 2,004 shares during the quarter. Bigelow Investment Advisors LLC’s holdings in Medtronic were worth $1,116,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of the business. Northcape Wealth Management LLC raised its position in Medtronic by 12.1% during the 4th quarter. Northcape Wealth Management LLC now owns 23,829 shares of the medical technology company’s stock worth $1,903,000 after buying an additional 2,565 shares during the last quarter. Bank of Jackson Hole Trust purchased a new position in Medtronic during the 4th quarter worth approximately $256,000. Mcdonald Partners LLC raised its position in Medtronic by 20.5% during the 4th quarter. Mcdonald Partners LLC now owns 13,497 shares of the medical technology company’s stock worth $1,078,000 after buying an additional 2,297 shares during the last quarter. Cardinal Capital Management raised its position in Medtronic by 3.0% during the 4th quarter. Cardinal Capital Management now owns 73,698 shares of the medical technology company’s stock worth $5,938,000 after buying an additional 2,161 shares during the last quarter. Finally, Buckingham Capital Management Inc. raised its position in Medtronic by 1.2% during the 4th quarter. Buckingham Capital Management Inc. now owns 16,701 shares of the medical technology company’s stock worth $1,334,000 after buying an additional 203 shares during the last quarter. 82.06% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Medtronic news, EVP Brett A. Wall sold 9,850 shares of Medtronic stock in a transaction on Wednesday, January 8th. The shares were 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 document filed with the SEC, which is available through this hyperlink. 0.20% of the stock is currently owned by corporate insiders.

Medtronic Price Performance

Shares of NYSE MDT opened at $86.05 on Wednesday. The firm has a market cap of $110.34 billion, a PE ratio of 26.32, a PEG ratio of 2.63 and a beta of 0.84. The firm has a fifty day moving average of $85.74 and a 200 day moving average of $87.02. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.39 and a current ratio of 1.84. Medtronic plc has a one year low of $75.96 and a one year high of $93.08.

Medtronic (NYSE:MDT) last issued its quarterly earnings results on Tuesday, February 18th. The medical technology company reported $1.39 EPS for the quarter, topping the consensus estimate of $1.36 by $0.03. Medtronic had a net margin of 13.00% and a return on equity of 13.79%. As a group, research analysts predict that Medtronic plc will post 5.45 EPS for the current fiscal year.

Medtronic Dividend Announcement

The firm 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. The ex-dividend date was Friday, December 27th. This represents a $2.80 annualized dividend and a yield of 3.25%. Medtronic’s dividend payout ratio (DPR) is presently 85.63%.

Wall Street Analysts Forecast Growth

MDT has been the subject of a number of recent research reports. Truist Financial reduced their price target on shares of Medtronic from $93.00 to $89.00 and set a “hold” rating for the company in a research report on Wednesday, December 18th. Barclays raised their price target on shares of Medtronic from $105.00 to $109.00 and gave the stock an “overweight” rating in a research report on Tuesday, November 26th. Wells Fargo & Company cut their target price 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. Needham & Company LLC reaffirmed a “hold” rating on shares of Medtronic in a report on Wednesday, February 12th. Finally, Sanford C. Bernstein lifted their target price on shares of Medtronic from $96.00 to $97.00 and gave the company an “outperform” rating in a report on Wednesday, November 20th. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating, six have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $95.00.

About Medtronic

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.