Medtronic plc (NYSE:MDT) Shares Sold by Pettyjohn Wood & White Inc.

Pettyjohn Wood & White Inc. decreased its position in Medtronic plc (NYSE:MDT) by 6.7% during the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 20,226 shares of the medical technology company’s stock after selling 1,450 shares during the period. Pettyjohn Wood & White Inc.’s holdings in Medtronic were worth $1,616,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. Argyle Capital Management LLC raised its position in Medtronic by 7.7% during the fourth quarter. Argyle Capital Management LLC now owns 36,660 shares of the medical technology company’s stock worth $2,928,000 after acquiring an additional 2,610 shares during the last quarter. VELA Investment Management LLC raised its position in shares of Medtronic by 5.8% during the 4th quarter. VELA Investment Management LLC now owns 37,644 shares of the medical technology company’s stock worth $3,007,000 after purchasing an additional 2,066 shares during the last quarter. Peloton Wealth Strategists raised its position in shares of Medtronic by 1.9% during the 4th quarter. Peloton Wealth Strategists now owns 10,820 shares of the medical technology company’s stock worth $864,000 after purchasing an additional 200 shares during the last quarter. CORDA Investment Management LLC. grew its holdings in Medtronic by 3.1% during the 4th quarter. CORDA Investment Management LLC. now owns 249,271 shares of the medical technology company’s stock valued at $19,912,000 after buying an additional 7,386 shares during the last quarter. Finally, Linscomb Wealth Inc. increased its position in Medtronic by 1.9% during the fourth quarter. Linscomb Wealth Inc. now owns 67,095 shares of the medical technology company’s stock worth $5,360,000 after buying an additional 1,266 shares in the last quarter. Hedge funds and other institutional investors own 82.06% of the company’s stock.

Analyst Upgrades and Downgrades

MDT has been the topic of several recent research reports. Barclays upped their price objective on Medtronic from $105.00 to $109.00 and gave the company an “overweight” rating in a research report on Tuesday, November 26th. Sanford C. Bernstein increased their target price on Medtronic from $96.00 to $97.00 and gave the stock an “outperform” rating in a research report on Wednesday, November 20th. Truist Financial dropped their price objective on shares of Medtronic from $93.00 to $89.00 and set a “hold” rating for the company in a research note on Wednesday, December 18th. UBS Group raised their target price on shares of Medtronic from $85.00 to $95.00 and gave the stock a “neutral” rating in a research report on Wednesday, February 19th. Finally, Wells Fargo & Company decreased their price target on shares of Medtronic from $106.00 to $98.00 and set an “overweight” rating on the stock in a report on Wednesday, November 20th. One investment analyst has rated the stock with a sell rating, nine have given a hold rating, five have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, Medtronic presently has an average rating of “Hold” and an average price target of $95.00.

Medtronic Trading Up 0.1 %

Medtronic stock opened at $90.67 on Friday. Medtronic plc has a 1 year low of $75.96 and a 1 year high of $93.08. The firm’s 50-day moving average is $86.86 and its 200-day moving average is $87.35. The company has a debt-to-equity ratio of 0.48, a quick ratio of 1.39 and a current ratio of 1.90. The company has a market cap of $116.26 billion, a P/E ratio of 27.56, a PEG ratio of 2.22 and a beta of 0.84.

Medtronic (NYSE:MDT) last released its quarterly earnings data on Tuesday, February 18th. The medical technology company reported $1.39 earnings per share for the quarter, topping the consensus estimate of $1.36 by $0.03. Medtronic had a net margin of 12.83% and a return on equity of 14.07%. The firm had revenue of $8.29 billion for the quarter, compared to analyst estimates of $8.33 billion. On average, equities analysts expect that Medtronic plc will post 5.46 earnings per share for the current year.

Medtronic Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, January 10th. Stockholders of record on Friday, December 27th were issued a dividend of $0.70 per share. This represents a $2.80 annualized dividend and a dividend yield of 3.09%. The ex-dividend date of this dividend was Friday, December 27th. Medtronic’s dividend payout ratio (DPR) is 85.11%.

Insider Buying and Selling

In other Medtronic news, EVP Brett A. Wall sold 12,437 shares of the business’s stock in a transaction dated Friday, January 24th. The shares were sold at an average price of $90.00, for a total transaction of $1,119,330.00. Following the sale, the executive vice president now directly owns 40,979 shares in the company, valued at approximately $3,688,110. The trade was a 23.28 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 0.20% of the company’s stock.

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.