Medtronic plc (NYSE:MDT) Shares Sold by Johnson Financial Group Inc.

Johnson Financial Group Inc. lessened its holdings in shares of Medtronic plc (NYSE:MDTFree Report) by 38.3% during the 4th quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 6,945 shares of the medical technology company’s stock after selling 4,308 shares during the period. Johnson Financial Group Inc.’s holdings in Medtronic were worth $577,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Fortitude Family Office LLC acquired a new stake in shares of Medtronic during the 4th quarter worth about $25,000. MeadowBrook Investment Advisors LLC acquired a new stake in shares of Medtronic during the 4th quarter worth about $27,000. Financial Gravity Asset Management Inc. raised 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 worth $29,000 after acquiring an additional 279 shares in the last quarter. Hartford Financial Management Inc. raised its position in shares of Medtronic by 52.1% during the 4th quarter. Hartford Financial Management Inc. now owns 479 shares of the medical technology company’s stock worth $39,000 after acquiring an additional 164 shares in the last quarter. Finally, Missouri Trust & Investment Co raised its position in shares of Medtronic by 405.0% during the 4th quarter. Missouri Trust & Investment Co now owns 505 shares of the medical technology company’s stock worth $42,000 after acquiring an additional 405 shares in the last quarter. Institutional investors and hedge funds own 82.06% of the company’s stock.

Analyst Ratings Changes

MDT has been the topic of several research analyst reports. UBS Group raised their price target on Medtronic from $75.00 to $76.00 and gave the stock a “sell” rating in a research note on Friday. Truist Financial dropped their price target on Medtronic from $90.00 to $88.00 and set a “hold” rating on the stock in a research note on Friday. Needham & Company LLC restated a “hold” rating on shares of Medtronic in a research note on Friday. Mizuho raised their price target on Medtronic from $95.00 to $98.00 and gave the stock a “buy” rating in a research note on Wednesday, February 21st. Finally, Royal Bank of Canada restated a “sector perform” rating and set a $92.00 price target on shares of Medtronic in a research note on Friday. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat.com, Medtronic has a consensus rating of “Hold” and an average price target of $94.45.

Get Our Latest Research Report on MDT

Insider Activity

In other 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 value of $71,001.56. Following the completion of the sale, the executive vice president now directly owns 27,925 shares of the company’s stock, valued at approximately $2,321,684.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 0.30% of the company’s stock.

Medtronic Stock Performance

Shares of MDT stock traded up $0.91 during midday trading on Friday, hitting $82.29. The company had a trading volume of 8,732,273 shares, compared to its average volume of 5,738,687. The company has a debt-to-equity ratio of 0.47, a current ratio of 2.03 and a quick ratio of 1.71. The company’s 50 day simple moving average is $82.81 and its 200 day simple moving average is $82.75. The stock has a market cap of $109.27 billion, a price-to-earnings ratio of 29.92, a PEG ratio of 2.68 and a beta of 0.78. Medtronic plc has a 52-week low of $68.84 and a 52-week high of $91.00.

Medtronic (NYSE:MDTGet Free Report) last posted its quarterly earnings results on Thursday, May 23rd. The medical technology company reported $1.46 EPS for the quarter, beating the consensus estimate of $1.45 by $0.01. The business had revenue of $8.59 billion during the quarter, compared to analysts’ expectations of $8.44 billion. Medtronic had a return on equity of 13.47% and a net margin of 11.36%. The company’s quarterly revenue was up .5% compared to the same quarter last year. During the same period last year, the firm earned $1.57 EPS. Research analysts anticipate that Medtronic plc will post 5.45 earnings per share for the current fiscal year.

Medtronic Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, July 12th. Stockholders of record on Friday, June 28th will be issued a $0.70 dividend. This is a boost from Medtronic’s previous quarterly dividend of $0.69. This represents a $2.80 annualized dividend and a dividend yield of 3.40%. The ex-dividend date of this dividend is Friday, June 28th. Medtronic’s dividend payout ratio (DPR) is currently 100.36%.

Medtronic Company Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Medtronic (NYSE:MDT)

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