Morgan Dempsey Capital Management LLC Trims Stake in Medtronic plc (NYSE:MDT)

Morgan Dempsey Capital Management LLC reduced its position in shares of Medtronic plc (NYSE:MDT) by 10.7% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 84,664 shares of the medical technology company’s stock after selling 10,193 shares during the quarter. Medtronic comprises about 2.7% of Morgan Dempsey Capital Management LLC’s portfolio, making the stock its 16th biggest position. Morgan Dempsey Capital Management LLC’s holdings in Medtronic were worth $6,822,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of the company. Nichols & Pratt Advisers LLP MA increased its holdings in Medtronic by 1.7% during the 4th quarter. Nichols & Pratt Advisers LLP MA now owns 161,162 shares of the medical technology company’s stock worth $12,874,000 after purchasing an additional 2,765 shares during the period. Fisher Asset Management LLC boosted its position in Medtronic by 3.1% during the 4th quarter. Fisher Asset Management LLC now owns 6,073,565 shares of the medical technology company’s stock valued at $485,156,000 after acquiring an additional 179,845 shares in the last quarter. Noesis Capital Mangement Corp boosted its position in Medtronic by 2.6% during the 4th quarter. Noesis Capital Mangement Corp now owns 103,919 shares of the medical technology company’s stock valued at $8,301,000 after acquiring an additional 2,653 shares in the last quarter. Sage Investment Counsel LLC bought a new stake in Medtronic during the 4th quarter valued at $444,000. Finally, SVB Wealth LLC bought a new stake in Medtronic during the 4th quarter valued at $9,840,000. 82.06% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

MDT has been the topic of several recent research reports. Barclays increased their target price on Medtronic from $105.00 to $109.00 and gave the company an “overweight” rating in a research report on Tuesday, November 26th. 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 reaffirmed a “hold” rating on shares of Medtronic in a research report on Wednesday, February 19th. JPMorgan Chase & Co. dropped their target price on Medtronic from $99.00 to $96.00 and set a “neutral” rating on the stock in a research report on Friday, November 15th. Finally, UBS Group increased their target price on Medtronic from $85.00 to $95.00 and gave the company a “neutral” rating in a research report on Wednesday, February 19th. One research analyst has rated the stock with a sell rating, nine have given a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $95.00.

Insiders Place Their Bets

In other Medtronic news, EVP Brett A. Wall sold 12,437 shares of Medtronic stock in a transaction dated Friday, January 24th. The stock was sold at an average price of $90.00, for a total transaction of $1,119,330.00. Following the completion of the transaction, the executive vice president now owns 40,979 shares in the company, valued at approximately $3,688,110. This trade represents a 23.28 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. 0.20% of the stock is currently owned by insiders.

Medtronic Stock Performance

Shares of MDT opened at $92.00 on Friday. The stock has a 50-day moving average of $87.08 and a two-hundred day moving average of $87.46. Medtronic plc has a one year low of $75.96 and a one year high of $93.08. 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 stock has a market cap of $117.97 billion, a P/E ratio of 27.96, a P/E/G ratio of 2.22 and a beta of 0.84.

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 analysts’ consensus estimates of $1.36 by $0.03. Medtronic had a return on equity of 14.07% and a net margin of 12.83%. The company had revenue of $8.29 billion during the quarter, compared to analysts’ expectations of $8.33 billion. As a group, research analysts predict that Medtronic plc will post 5.46 EPS for the current year.

Medtronic Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, January 10th. Shareholders of record on Friday, December 27th were given a dividend of $0.70 per share. The ex-dividend date was Friday, December 27th. This represents a $2.80 dividend on an annualized basis and a yield of 3.04%. Medtronic’s dividend payout ratio is currently 85.11%.

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.