Courier Capital LLC Has $3.39 Million Stock Holdings in Medtronic plc (NYSE:MDT)

Courier Capital LLC cut its position in shares of Medtronic plc (NYSE:MDT) by 0.9% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 41,089 shares of the medical technology company’s stock after selling 384 shares during the quarter. Courier Capital LLC’s holdings in Medtronic were worth $3,385,000 at the end of the most recent quarter.

A number of other institutional investors have also added to or reduced their stakes in the company. Fairfield Bush & CO. bought a new position in Medtronic during the first quarter worth about $47,000. MAS Advisors LLC lifted its stake in Medtronic by 10.3% during the first quarter. MAS Advisors LLC now owns 2,388 shares of the medical technology company’s stock worth $266,000 after purchasing an additional 223 shares during the period. LSV Asset Management lifted its stake in Medtronic by 34.5% during the first quarter. LSV Asset Management now owns 7,400 shares of the medical technology company’s stock worth $821,000 after purchasing an additional 1,900 shares during the period. NewEdge Advisors LLC lifted its stake in Medtronic by 22.8% during the first quarter. NewEdge Advisors LLC now owns 74,914 shares of the medical technology company’s stock worth $8,312,000 after purchasing an additional 13,895 shares during the period. Finally, Kinneret Advisory LLC lifted its stake in Medtronic by 2.3% during the first quarter. Kinneret Advisory LLC now owns 15,340 shares of the medical technology company’s stock worth $1,712,000 after purchasing an additional 343 shares during the period. 82.06% of the stock is owned by institutional investors and hedge funds.

Medtronic Stock Performance

Shares of Medtronic stock opened at $86.92 on Thursday. The company has a debt-to-equity ratio of 0.46, a current ratio of 2.30 and a quick ratio of 1.71. The firm has a market cap of $115.41 billion, a P/E ratio of 27.68, a P/E/G ratio of 2.86 and a beta of 0.76. The firm has a 50 day simple moving average of $85.21 and a 200 day simple moving average of $80.68. Medtronic plc has a fifty-two week low of $68.84 and a fifty-two week high of $92.02.

Medtronic (NYSE:MDT) last issued its quarterly earnings results on Tuesday, February 20th. The medical technology company reported $1.30 earnings per share for the quarter, beating analysts’ consensus estimates of $1.26 by $0.04. The business had revenue of $8.09 billion during the quarter, compared to analyst estimates of $7.95 billion. Medtronic had a net margin of 13.00% and a return on equity of 13.71%. Medtronic’s revenue for the quarter was up 4.7% compared to the same quarter last year. During the same quarter last year, the business posted $1.30 earnings per share. Sell-side analysts predict that Medtronic plc will post 5.2 earnings per share for the current fiscal year.

Medtronic Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, April 12th. Shareholders of record on Friday, March 22nd will be issued a dividend of $0.69 per share. This represents a $2.76 dividend on an annualized basis and a yield of 3.18%. The ex-dividend date is Thursday, March 21st. Medtronic’s dividend payout ratio is presently 87.90%.

Insiders Place Their Bets

In other Medtronic news, EVP Sean Salmon sold 30,695 shares of Medtronic stock in a transaction on Wednesday, February 21st. The shares were sold at an average price of $85.13, for a total transaction of $2,613,065.35. Following the completion of the sale, the executive vice president now owns 48,289 shares of the company’s stock, valued at approximately $4,110,842.57. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 0.30% of the company’s stock.

Wall Street Analyst Weigh In

MDT has been the subject of a number of analyst reports. Mizuho raised their price target on shares of Medtronic from $95.00 to $98.00 and gave the stock a “buy” rating in a research note on Wednesday, February 21st. Oppenheimer lifted their target price on shares of Medtronic from $89.00 to $92.00 and gave the company a “market perform” rating in a research note on Wednesday, February 21st. Truist Financial lifted their target price on shares of Medtronic from $87.00 to $90.00 and gave the company a “hold” rating in a research note on Wednesday, February 21st. Finally, Royal Bank of Canada reiterated a “sector perform” rating and issued a $92.00 target price on shares of Medtronic in a research note on Wednesday, February 21st. One research analyst has rated the stock with a sell rating, four have issued a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $94.91.

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.