Bartlett & CO. Wealth Management LLC Has $548,000 Stock Position in Medtronic plc (NYSE:MDT)

Bartlett & CO. Wealth Management LLC decreased its stake in Medtronic plc (NYSE:MDT) by 26.6% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 6,805 shares of the medical technology company’s stock after selling 2,472 shares during the quarter. Bartlett & CO. Wealth Management LLC’s holdings in Medtronic were worth $548,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also modified their holdings of the company. Fortitude Family Office LLC purchased a new stake in shares of Medtronic during the 3rd quarter worth about $27,000. Highline Wealth Partners LLC purchased a new stake in shares of Medtronic during the 3rd quarter worth about $27,000. Darwin Wealth Management LLC purchased a new stake in shares of Medtronic during the 3rd quarter worth about $27,000. J. Stern & Co. LLP purchased a new stake in shares of Medtronic during the 3rd quarter worth about $30,000. Finally, Kieckhefer Group LLC purchased a new stake in shares of Medtronic during the 4th quarter worth about $40,000. Institutional investors and hedge funds own 82.06% of the company’s stock.

Medtronic Stock Up 0.9 %

Shares of Medtronic stock opened at $90.07 on Friday. Medtronic plc has a 1 year low of $75.96 and a 1 year high of $92.68. The business has a 50-day moving average of $83.70 and a two-hundred day moving average of $85.41. The company has a market capitalization of $115.49 billion, a P/E ratio of 27.54, a price-to-earnings-growth ratio of 2.49 and a beta of 0.83. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.84 and a quick ratio of 1.39.

Medtronic (NYSE:MDT) last announced 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. The company had revenue of $8.40 billion during the quarter, compared to the consensus estimate of $8.27 billion. Medtronic had a return on equity of 13.79% and a net margin of 13.00%. The company’s revenue for the quarter was up 5.2% compared to the same quarter last year. During the same period in the prior year, the company earned $1.25 earnings per share. As a group, equities analysts predict that Medtronic plc will post 5.45 EPS for the current year.

Medtronic Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, January 10th. Investors of record on Friday, December 27th were issued a dividend of $0.70 per share. The ex-dividend date was Friday, December 27th. This represents a $2.80 dividend on an annualized basis and a dividend yield of 3.11%. Medtronic’s payout ratio is presently 85.63%.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on MDT. Sanford C. Bernstein raised their price target on Medtronic from $96.00 to $97.00 and gave the stock an “outperform” rating in a research note on Wednesday, November 20th. Evercore ISI raised their price objective on Medtronic from $100.00 to $104.00 and gave the company an “outperform” rating in a research note on Tuesday, October 1st. Wells Fargo & Company cut their price objective on Medtronic from $106.00 to $98.00 and set an “overweight” rating on the stock in a research note on Wednesday, November 20th. JPMorgan Chase & Co. cut their price objective on Medtronic from $99.00 to $96.00 and set a “neutral” rating on the stock in a research note on Friday, November 15th. Finally, Truist Financial cut their price objective on Medtronic from $93.00 to $89.00 and set a “hold” rating on the stock in a research note on Wednesday, December 18th. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $95.00.

Insider Buying and Selling

In related news, EVP Brett A. Wall sold 9,850 shares of the stock in a transaction dated Wednesday, January 8th. The stock was sold at an average price of $80.41, for a total transaction of $792,038.50. Following the completion of the transaction, the executive vice president now directly owns 40,708 shares in the company, valued at approximately $3,273,330.28. This trade represents a 19.48 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.20% of the stock is owned by corporate insiders.

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.