Colton Groome Financial Advisors LLC Sells 1,925 Shares of Medtronic plc (NYSE:MDT)

Colton Groome Financial Advisors LLC trimmed its holdings in shares of Medtronic plc (NYSE:MDT) by 11.8% in the fourth quarter, according to its most recent filing with the SEC. The firm owned 14,407 shares of the medical technology company’s stock after selling 1,925 shares during the period. Colton Groome Financial Advisors LLC’s holdings in Medtronic were worth $1,151,000 as of its most recent filing with the SEC.

Several other institutional investors have also made changes to their positions in MDT. State Street Corp lifted its holdings in Medtronic by 0.9% during the 3rd 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 last quarter. Pzena Investment Management LLC raised its stake in shares of 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 acquiring an additional 275,870 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in shares of Medtronic by 436.7% in the 3rd 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 worth $661,125,000 after acquiring an additional 5,975,110 shares in the last quarter. Raymond James & Associates grew its position in Medtronic by 2.3% during the 3rd quarter. Raymond James & Associates now owns 6,391,865 shares of the medical technology company’s stock worth $575,460,000 after acquiring an additional 145,504 shares during the last quarter. Finally, Fisher Asset Management LLC increased its holdings in Medtronic by 11.5% during the 3rd 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 in the last quarter. 82.06% of the stock is currently owned by institutional investors and hedge funds.

Medtronic Price Performance

NYSE:MDT opened at $92.21 on Thursday. The stock has a market capitalization of $118.23 billion, a PE ratio of 28.14, a P/E/G ratio of 2.49 and a beta of 0.83. The company has a current ratio of 1.84, a quick ratio of 1.39 and a debt-to-equity ratio of 0.51. The firm has a fifty day simple moving average of $83.99 and a 200 day simple moving average of $85.83. Medtronic plc has a 1-year low of $75.96 and a 1-year high of $93.08.

Medtronic (NYSE:MDT) last issued its quarterly earnings data on Tuesday, November 19th. The medical technology company reported $1.26 EPS for the quarter, beating analysts’ consensus estimates of $1.25 by $0.01. Medtronic had a return on equity of 13.79% and a net margin of 13.00%. The firm had revenue of $8.40 billion for the quarter, compared to analyst estimates of $8.27 billion. During the same period in the prior year, the firm posted $1.25 EPS. The company’s revenue for the quarter was up 5.2% on a year-over-year basis. On average, research analysts expect that Medtronic plc will post 5.45 EPS for the current fiscal year.

Medtronic Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, January 10th. Shareholders of record on Friday, December 27th were issued a $0.70 dividend. The ex-dividend date of this dividend was Friday, December 27th. This represents a $2.80 annualized dividend and a yield of 3.04%. Medtronic’s dividend payout ratio is presently 85.63%.

Insider Activity

In related news, EVP Brett A. Wall sold 12,437 shares of the stock in a transaction that occurred on Friday, January 24th. The shares were sold at an average price of $90.00, for a total transaction of $1,119,330.00. Following the sale, the executive vice president now owns 40,979 shares in the company, valued at approximately $3,688,110. This trade represents a 23.28 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Corporate insiders own 0.20% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have commented on MDT shares. Royal Bank of Canada raised shares of Medtronic from a “sector perform” rating to an “outperform” rating and increased their price objective for the stock from $98.00 to $105.00 in a report on Thursday, October 10th. Barclays boosted their price target on shares of Medtronic from $105.00 to $109.00 and gave the stock an “overweight” rating in a research note on Tuesday, November 26th. Wells Fargo & Company lowered their target price on shares of Medtronic from $106.00 to $98.00 and set an “overweight” rating for the company in a report on Wednesday, November 20th. Sanford C. Bernstein increased their price target on shares of Medtronic from $96.00 to $97.00 and gave the company an “outperform” rating in a research report on Wednesday, November 20th. Finally, Truist Financial dropped 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 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. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $95.00.

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.