Everett Harris & Co. CA Reduces Holdings in Medtronic plc (NYSE:MDT)

Everett Harris & Co. CA lowered its position in shares of Medtronic plc (NYSE:MDT) by 2.3% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 47,654 shares of the medical technology company’s stock after selling 1,145 shares during the period. Everett Harris & Co. CA’s holdings in Medtronic were worth $3,807,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in the company. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in shares of Medtronic by 436.7% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 7,343,385 shares of the medical technology company’s stock worth $661,125,000 after buying an additional 5,975,110 shares during the period. Bank of Montreal Can lifted its position in Medtronic by 65.0% during the 3rd quarter. Bank of Montreal Can now owns 4,546,819 shares of the medical technology company’s stock worth $406,122,000 after acquiring an additional 1,790,483 shares during the period. Janus Henderson Group PLC increased its holdings in shares of Medtronic by 58.4% in the third quarter. Janus Henderson Group PLC now owns 3,850,914 shares of the medical technology company’s stock valued at $346,705,000 after purchasing an additional 1,420,263 shares during the period. International Assets Investment Management LLC lifted its holdings in shares of Medtronic by 8,908.6% during the third quarter. International Assets Investment Management LLC now owns 1,298,415 shares of the medical technology company’s stock worth $116,896,000 after purchasing an additional 1,284,002 shares during the period. Finally, Worldquant Millennium Advisors LLC boosted its holdings in shares of Medtronic by 5,124.5% in the third quarter. Worldquant Millennium Advisors LLC now owns 1,035,708 shares of the medical technology company’s stock valued at $93,245,000 after acquiring an additional 1,015,884 shares in the last quarter. 82.06% of the stock is owned by hedge funds and other institutional investors.

Medtronic Stock Down 1.4 %

Shares of MDT opened at $90.74 on Friday. The firm has a market cap of $116.35 billion, a PE ratio of 27.75, a price-to-earnings-growth ratio of 2.59 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. The company’s fifty day moving average is $84.29 and its two-hundred day moving average is $85.91. 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 data on Tuesday, November 19th. The medical technology company reported $1.26 earnings per share for the quarter, beating the consensus estimate of $1.25 by $0.01. The business had revenue of $8.40 billion for the quarter, compared to analyst estimates of $8.27 billion. Medtronic had a return on equity of 13.79% and a net margin of 13.00%. The company’s revenue was up 5.2% compared to the same quarter last year. During the same period in the previous year, the company posted $1.25 EPS. Analysts forecast that Medtronic plc will post 5.45 earnings per share for the current year.

Medtronic Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, January 10th. Investors of record on Friday, December 27th were issued a dividend of $0.70 per share. The ex-dividend date of this dividend was Friday, December 27th. This represents a $2.80 annualized dividend and a dividend yield of 3.09%. Medtronic’s payout ratio is 85.63%.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on the company. Truist Financial dropped their price objective on Medtronic from $93.00 to $89.00 and set a “hold” rating on the stock in a report on Wednesday, December 18th. Barclays lifted their price target on shares of 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 lifted their price objective on Medtronic from $96.00 to $97.00 and gave the stock an “outperform” rating in a report on Wednesday, November 20th. Needham & Company LLC reissued a “hold” rating on shares of Medtronic in a report on Monday, November 18th. Finally, Wells Fargo & Company cut their price target on Medtronic from $106.00 to $98.00 and set an “overweight” rating for the company in a research note on Wednesday, November 20th. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating, six have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $95.00.

Insider Buying and Selling

In other news, EVP Brett A. Wall sold 12,437 shares of the business’s stock in a transaction on 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 transaction, the executive vice president now directly owns 40,979 shares of the company’s stock, valued at approximately $3,688,110. The trade was a 23.28 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.20% of the stock is owned by corporate insiders.

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.