Phillips Wealth Planners LLC Has $463,000 Holdings in Medtronic plc (NYSE:MDT)

Phillips Wealth Planners LLC cut its stake in shares of Medtronic plc (NYSE:MDT) by 17.9% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 5,737 shares of the medical technology company’s stock after selling 1,248 shares during the period. Phillips Wealth Planners LLC’s holdings in Medtronic were worth $463,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. State Street Corp increased its holdings in Medtronic by 0.9% in the third quarter. State Street Corp now owns 60,731,367 shares of the medical technology company’s stock valued at $5,509,155,000 after purchasing an additional 520,027 shares during the period. Pzena Investment Management LLC increased its holdings in Medtronic by 3.3% in the third quarter. Pzena Investment Management LLC now owns 8,582,993 shares of the medical technology company’s stock valued at $772,727,000 after purchasing an additional 275,870 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in Medtronic by 436.7% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 7,343,385 shares of the medical technology company’s stock valued at $661,125,000 after purchasing an additional 5,975,110 shares during the period. Raymond James & Associates increased its holdings in Medtronic by 2.3% in the third quarter. Raymond James & Associates now owns 6,391,865 shares of the medical technology company’s stock valued at $575,460,000 after purchasing an additional 145,504 shares during the period. Finally, Fisher Asset Management LLC increased its holdings in Medtronic by 11.5% in the third quarter. Fisher Asset Management LLC now owns 5,893,720 shares of the medical technology company’s stock valued at $530,612,000 after purchasing an additional 609,391 shares during the period. 82.06% of the stock is currently 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 that occurred on 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 sale, the executive vice president now owns 40,708 shares in the company, valued at $3,273,330.28. This trade represents a 19.48 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.20% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on MDT shares. Truist Financial decreased 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. Barclays increased their price objective on shares of Medtronic from $105.00 to $109.00 and gave the stock an “overweight” rating in a research report on Tuesday, November 26th. Robert W. Baird cut their price objective on shares of Medtronic from $96.00 to $93.00 and set a “neutral” rating on the stock in a research report on Wednesday, November 20th. JPMorgan Chase & Co. cut their price objective on shares of Medtronic from $99.00 to $96.00 and set a “neutral” rating on the stock in a research report on Friday, November 15th. Finally, Citigroup raised their price target on shares of Medtronic from $85.00 to $92.00 and gave the company a “neutral” rating in a research report on Tuesday, October 1st. One research analyst has rated the stock with a sell rating, nine have given a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, Medtronic currently has a consensus rating of “Hold” and an average price target of $95.00.

Medtronic Price Performance

Medtronic stock opened at $87.84 on Thursday. Medtronic plc has a 52 week low of $75.96 and a 52 week high of $92.68. The company’s 50 day moving average price is $83.64 and its two-hundred day moving average price is $85.37. The company has a quick ratio of 1.39, a current ratio of 1.84 and a debt-to-equity ratio of 0.51. The stock has a market cap of $112.64 billion, a P/E ratio of 26.86, a P/E/G ratio of 2.50 and a beta of 0.83.

Medtronic (NYSE:MDT) last issued its quarterly earnings results on Tuesday, November 19th. The medical technology company reported $1.26 earnings per share (EPS) for the quarter, topping 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 company had revenue of $8.40 billion during the quarter, compared to analyst estimates of $8.27 billion. During the same quarter last year, the business posted $1.25 EPS. Medtronic’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 earnings per share for the current year.

Medtronic Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, January 10th. Stockholders 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 annualized dividend and a dividend yield of 3.19%. Medtronic’s payout ratio is currently 85.63%.

Medtronic Company Profile

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.