Signet Financial Management LLC Has $244,000 Stock Holdings in Medtronic plc (NYSE:MDT)

Signet Financial Management LLC trimmed its position in Medtronic plc (NYSE:MDT) by 12.3% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,963 shares of the medical technology company’s stock after selling 417 shares during the quarter. Signet Financial Management LLC’s holdings in Medtronic were worth $244,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Fortitude Family Office LLC bought a new stake in shares of Medtronic during the 4th quarter valued at $25,000. Hartford Financial Management Inc. lifted its position in shares of Medtronic by 425.0% during the 3rd quarter. Hartford Financial Management Inc. now owns 315 shares of the medical technology company’s stock valued at $25,000 after acquiring an additional 255 shares during the period. Financial Gravity Asset Management Inc. lifted its position in shares of Medtronic by 317.0% during the 3rd quarter. Financial Gravity Asset Management Inc. now owns 367 shares of the medical technology company’s stock valued at $29,000 after acquiring an additional 279 shares during the period. Fairfield Bush & CO. bought a new stake in shares of Medtronic during the 2nd quarter valued at $32,000. Finally, Certified Advisory Corp bought a new stake in shares of Medtronic during the 1st quarter valued at $31,000. 82.06% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other news, EVP Michael Marinaro sold 854 shares of the stock in a transaction dated Monday, April 8th. The stock was sold at an average price of $83.14, for a total value of $71,001.56. Following the completion of the sale, the executive vice president now owns 27,925 shares of the company’s stock, valued at $2,321,684.50. The sale was disclosed in a legal filing with the SEC, which is available at this link. In related news, EVP Michael Marinaro sold 854 shares of the firm’s stock in a transaction that occurred on Monday, April 8th. The stock was sold at an average price of $83.14, for a total transaction of $71,001.56. Following the completion of the sale, the executive vice president now owns 27,925 shares of the company’s stock, valued at $2,321,684.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Sean Salmon sold 30,695 shares of the firm’s stock in a transaction that occurred on Wednesday, February 21st. The stock was sold at an average price of $85.13, for a total value of $2,613,065.35. Following the sale, the executive vice president now directly owns 48,289 shares of the company’s stock, valued at approximately $4,110,842.57. The disclosure for this sale can be found here. Insiders own 0.30% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on MDT shares. Mizuho upped their target price on Medtronic from $95.00 to $98.00 and gave the company a “buy” rating in a research report on Wednesday, February 21st. Oppenheimer upped their price objective on Medtronic from $89.00 to $92.00 and gave the stock a “market perform” rating in a research report on Wednesday, February 21st. Truist Financial upped their price objective on Medtronic from $87.00 to $90.00 and gave the stock a “hold” rating in a research report on Wednesday, February 21st. Finally, Royal Bank of Canada restated a “sector perform” rating and set a $92.00 price objective on shares of Medtronic in a research report on Wednesday, February 21st. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $94.91.

Medtronic Price Performance

Shares of MDT opened at $79.08 on Thursday. Medtronic plc has a 12-month low of $68.84 and a 12-month high of $92.02. The business has a 50-day simple moving average of $84.18 and a two-hundred day simple moving average of $81.01. The company has a quick ratio of 1.71, a current ratio of 2.30 and a debt-to-equity ratio of 0.46. The stock has a market cap of $105.00 billion, a PE ratio of 25.18, a PEG ratio of 2.71 and a beta of 0.76.

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 the consensus estimate of $1.26 by $0.04. The company had revenue of $8.09 billion during the quarter, compared to analysts’ expectations of $7.95 billion. Medtronic had a return on equity of 13.71% and a net margin of 13.00%. The business’s quarterly revenue was up 4.7% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.30 earnings per share. Analysts anticipate that Medtronic plc will post 5.2 earnings per share for the current fiscal year.

Medtronic Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, April 12th. Stockholders of record on Friday, March 22nd were paid a $0.69 dividend. The ex-dividend date was Thursday, March 21st. This represents a $2.76 annualized dividend and a dividend yield of 3.49%. Medtronic’s payout ratio is 87.90%.

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.