FourThought Financial Partners LLC Sells 40,736 Shares of Medtronic plc (NYSE:MDT)

FourThought Financial Partners LLC cut its holdings in shares of Medtronic plc (NYSE:MDT) by 23.6% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 131,544 shares of the medical technology company’s stock after selling 40,736 shares during the period. Medtronic makes up 1.1% of FourThought Financial Partners LLC’s portfolio, making the stock its 26th biggest position. FourThought Financial Partners LLC’s holdings in Medtronic were worth $10,508,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of the business. Fortitude Family Office LLC purchased a new position in shares of Medtronic in the 3rd quarter worth approximately $27,000. Highline Wealth Partners LLC acquired a new position in Medtronic during the 3rd quarter valued at about $27,000. Darwin Wealth Management LLC purchased a new stake in Medtronic during the 3rd quarter valued at about $27,000. Stephens Consulting LLC boosted its stake in shares of Medtronic by 145.7% in the fourth quarter. Stephens Consulting LLC now owns 344 shares of the medical technology company’s stock worth $27,000 after buying an additional 204 shares during the last quarter. Finally, J. Stern & Co. LLP purchased a new position in Medtronic during the third quarter worth approximately $30,000. 82.06% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Medtronic

In related 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 value 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 position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.20% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

MDT has been the subject of a number of research analyst reports. Truist Financial reduced their target price on Medtronic from $93.00 to $89.00 and set a “hold” rating for the company in a report on Wednesday, December 18th. UBS Group raised their price target on Medtronic from $85.00 to $95.00 and gave the company a “neutral” rating in a research note on Wednesday, February 19th. Needham & Company LLC reissued a “hold” rating on shares of Medtronic in a research report on Wednesday, February 19th. Barclays increased their target price on Medtronic from $105.00 to $109.00 and gave the stock an “overweight” rating in a research note on Tuesday, November 26th. Finally, Wells Fargo & Company dropped their price objective on shares of 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 given a hold rating, five have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, Medtronic has a consensus rating of “Hold” and an average price target of $95.00.

Medtronic Price Performance

NYSE:MDT opened at $90.27 on Tuesday. The company has a debt-to-equity ratio of 0.48, a current ratio of 1.90 and a quick ratio of 1.39. The firm’s fifty day moving average price is $86.26 and its two-hundred day moving average price is $87.24. Medtronic plc has a one year low of $75.96 and a one year high of $93.08. The company has a market cap of $115.76 billion, a P/E ratio of 27.44, a P/E/G ratio of 2.22 and a beta of 0.84.

Medtronic (NYSE:MDT) last posted 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 business had revenue of $8.29 billion during the quarter, compared to analysts’ expectations of $8.33 billion. Equities analysts expect that Medtronic plc will post 5.46 earnings per share for the current year.

Medtronic Announces Dividend

The firm also recently declared 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 of this dividend was Friday, December 27th. This represents a $2.80 dividend on an annualized basis and a yield of 3.10%. Medtronic’s dividend payout ratio (DPR) is presently 85.11%.

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.