Ferguson Wellman Capital Management Inc. Has $8.21 Million Stock Holdings in Medtronic plc (NYSE:MDT)

Ferguson Wellman Capital Management Inc. decreased its holdings in shares of Medtronic plc (NYSE:MDT) by 2.4% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 102,804 shares of the medical technology company’s stock after selling 2,560 shares during the quarter. Ferguson Wellman Capital Management Inc.’s holdings in Medtronic were worth $8,212,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently bought and sold shares of the company. Copley Financial Group Inc. acquired a new position in shares of Medtronic in the 3rd quarter valued at about $694,000. Olstein Capital Management L.P. increased its stake in Medtronic by 19.2% in the 3rd quarter. Olstein Capital Management L.P. now owns 87,000 shares of the medical technology company’s stock valued at $7,833,000 after buying an additional 14,000 shares during the period. Franklin Street Advisors Inc. NC boosted its stake in shares of Medtronic by 32.6% during the 4th quarter. Franklin Street Advisors Inc. NC now owns 73,517 shares of the medical technology company’s stock valued at $5,873,000 after buying an additional 18,057 shares during the period. Y Intercept Hong Kong Ltd boosted its stake in shares of Medtronic by 322.6% during the 3rd quarter. Y Intercept Hong Kong Ltd now owns 73,593 shares of the medical technology company’s stock valued at $6,626,000 after buying an additional 56,178 shares during the period. Finally, Czech National Bank grew its holdings in shares of Medtronic by 6.4% during the 4th quarter. Czech National Bank now owns 278,065 shares of the medical technology company’s stock valued at $22,212,000 after acquiring an additional 16,786 shares in the last quarter. 82.06% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Medtronic

In other news, EVP Brett A. Wall sold 9,850 shares of the firm’s stock in a transaction dated Wednesday, January 8th. The shares were sold at an average price of $80.41, for a total transaction of $792,038.50. Following the completion of the transaction, the executive vice president now directly owns 40,708 shares of the company’s stock, valued at approximately $3,273,330.28. This trade represents a 19.48 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.20% of the stock is owned by insiders.

Medtronic Stock Down 0.9 %

Shares of MDT stock opened at $90.01 on Monday. The stock has a 50 day moving average of $84.85 and a 200-day moving average of $86.43. The firm has a market cap of $115.42 billion, a PE ratio of 27.53, a price-to-earnings-growth ratio of 2.57 and a beta of 0.84. 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 12 month low of $75.96 and a 12 month high of $93.08.

Medtronic (NYSE:MDT) last released its earnings results on Tuesday, November 19th. The medical technology company reported $1.26 EPS for the quarter, beating the consensus estimate of $1.25 by $0.01. Medtronic had a net margin of 13.00% and a return on equity of 13.79%. The firm had revenue of $8.40 billion during the quarter, compared to analysts’ expectations of $8.27 billion. During the same period in the prior year, the company earned $1.25 EPS. The business’s quarterly revenue was up 5.2% compared to the same quarter last year. On average, equities analysts predict that Medtronic plc will post 5.45 EPS for the current year.

Medtronic Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, January 10th. Shareholders of record on Friday, December 27th were given a $0.70 dividend. The ex-dividend date was Friday, December 27th. This represents a $2.80 dividend on an annualized basis and a dividend yield of 3.11%. Medtronic’s dividend payout ratio is currently 85.63%.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on MDT. Truist Financial cut their price objective on Medtronic from $93.00 to $89.00 and set a “hold” rating for the company in a report on Wednesday, December 18th. Sanford C. Bernstein increased their price target on shares of Medtronic from $96.00 to $97.00 and gave the stock an “outperform” rating in a research note on Wednesday, November 20th. Needham & Company LLC reiterated a “hold” rating on shares of Medtronic in a report on Monday, November 18th. Barclays raised their target price on Medtronic from $105.00 to $109.00 and gave the company an “overweight” rating in a report on Tuesday, November 26th. Finally, JPMorgan Chase & Co. decreased their price target on Medtronic from $99.00 to $96.00 and set a “neutral” rating for the company in a research note on Friday, November 15th. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price 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.