Medtronic plc (NYSE:MDT) Shares Sold by Congress Wealth Management LLC DE

Congress Wealth Management LLC DE lessened its stake in Medtronic plc (NYSE:MDT) by 54.2% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 31,989 shares of the medical technology company’s stock after selling 37,900 shares during the quarter. Congress Wealth Management LLC DE’s holdings in Medtronic were worth $2,555,000 as of its most recent SEC filing.

Other hedge funds have also recently modified their holdings of the company. Twin City Private Wealth LLC lifted its holdings in Medtronic by 8.7% in the fourth quarter. Twin City Private Wealth LLC now owns 28,360 shares of the medical technology company’s stock valued at $2,285,000 after acquiring an additional 2,281 shares during the period. Crowley Wealth Management Inc. purchased a new position in shares of Medtronic during the 4th quarter valued at approximately $680,000. Vanguard Group Inc. lifted its stake in shares of Medtronic by 0.6% in the 4th quarter. Vanguard Group Inc. now owns 124,203,387 shares of the medical technology company’s stock valued at $9,921,367,000 after purchasing an additional 754,395 shares during the period. LPL Financial LLC boosted its holdings in Medtronic by 4.5% during the fourth quarter. LPL Financial LLC now owns 1,140,884 shares of the medical technology company’s stock worth $91,134,000 after buying an additional 48,749 shares in the last quarter. Finally, Banco de Sabadell S.A grew its position in Medtronic by 13.9% during the fourth quarter. Banco de Sabadell S.A now owns 24,581 shares of the medical technology company’s stock valued at $1,959,000 after buying an additional 3,008 shares during the period. Hedge funds and other institutional investors own 82.06% of the company’s stock.

Medtronic Trading Down 0.5 %

Shares of MDT opened at $88.17 on Thursday. Medtronic plc has a 52-week low of $75.96 and a 52-week high of $96.25. The stock has a market cap of $113.08 billion, a PE ratio of 26.80, a price-to-earnings-growth ratio of 2.22 and a beta of 0.80. The firm’s fifty day moving average is $90.96 and its two-hundred day moving average is $88.04. The company has a quick ratio of 1.39, a current ratio of 1.90 and a debt-to-equity ratio of 0.48.

Medtronic (NYSE:MDT) last posted its quarterly earnings results on Tuesday, February 18th. The medical technology company reported $1.39 earnings per share for the quarter, topping analysts’ consensus estimates of $1.36 by $0.03. The firm had revenue of $8.29 billion for the quarter, compared to analyst estimates of $8.33 billion. Medtronic had a net margin of 12.83% and a return on equity of 14.07%. Research analysts forecast that Medtronic plc will post 5.46 earnings per share for the current fiscal year.

Medtronic Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, April 11th. Stockholders of record on Friday, March 28th will be given a $0.70 dividend. The ex-dividend date of this dividend is Friday, March 28th. This represents a $2.80 dividend on an annualized basis and a dividend yield of 3.18%. Medtronic’s dividend payout ratio (DPR) is presently 85.11%.

Insider Activity at Medtronic

In related news, EVP Brett A. Wall sold 12,437 shares of the company’s stock in a transaction dated Friday, January 24th. The shares were sold at an average price of $90.00, for a total value of $1,119,330.00. Following the completion of the sale, the executive vice president now owns 40,979 shares of the company’s stock, valued at approximately $3,688,110. This represents a 23.28 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Insiders own 0.20% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have weighed in on the stock. Truist Financial decreased their price objective on shares of Medtronic from $93.00 to $89.00 and set a “hold” rating for the company in a research report on Wednesday, December 18th. Robert W. Baird upped their price target on Medtronic from $90.00 to $91.00 and gave the stock a “neutral” rating in a report on Wednesday, February 19th. Citigroup raised Medtronic from a “neutral” rating to a “buy” rating and raised their price objective for the company from $92.00 to $107.00 in a report on Tuesday, March 4th. UBS Group boosted their price objective on Medtronic from $85.00 to $95.00 and gave the company a “neutral” rating in a research report on Wednesday, February 19th. Finally, Royal Bank of Canada reiterated an “outperform” rating and set a $105.00 target price on shares of Medtronic in a research report on Wednesday, February 19th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating, six have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, Medtronic currently has an average rating of “Hold” and an average price target of $96.07.

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.