Smith Moore & CO. Sells 519 Shares of Medtronic plc (NYSE:MDT)

Smith Moore & CO. lowered its stake in Medtronic plc (NYSE:MDT) by 3.8% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 13,049 shares of the medical technology company’s stock after selling 519 shares during the quarter. Smith Moore & CO.’s holdings in Medtronic were worth $1,042,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently made changes to their positions in the stock. Mainstream Capital Management LLC bought a new stake in Medtronic during the 4th quarter worth approximately $26,000. Rakuten Securities Inc. raised its position in shares of Medtronic by 753.8% during the 4th quarter. Rakuten Securities Inc. now owns 333 shares of the medical technology company’s stock valued at $27,000 after purchasing an additional 294 shares during the period. Stephens Consulting LLC lifted its stake in shares of Medtronic by 145.7% during the 4th quarter. Stephens Consulting LLC now owns 344 shares of the medical technology company’s stock valued at $27,000 after buying an additional 204 shares in the last quarter. Fiduciary Advisors Inc. bought a new position in Medtronic in the 4th quarter worth $36,000. Finally, Chelsea Counsel Co. purchased a new stake in Medtronic in the 3rd quarter worth $45,000. 82.06% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

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

Medtronic Trading Down 5.7 %

Shares of MDT opened at $82.86 on Friday. The company’s fifty day simple moving average is $90.87 and its 200-day simple moving average is $87.94. The company has a market cap of $106.28 billion, a P/E ratio of 25.19, a P/E/G ratio of 2.22 and a beta of 0.80. The company has a current ratio of 1.90, a quick ratio of 1.39 and a debt-to-equity ratio of 0.48. Medtronic plc has a twelve month low of $75.96 and a twelve month high of $96.25.

Medtronic (NYSE:MDT) last posted its quarterly earnings data 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 company 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%. As a group, analysts expect that Medtronic plc will post 5.46 EPS for the current year.

Medtronic Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, April 11th. Shareholders of record on Friday, March 28th will be given a $0.70 dividend. This represents a $2.80 annualized dividend and a yield of 3.38%. The ex-dividend date of this dividend is Friday, March 28th. Medtronic’s dividend payout ratio (DPR) is presently 85.11%.

Insiders Place Their Bets

In other 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 transaction, the executive vice president now directly owns 40,979 shares in the company, valued at approximately $3,688,110. This represents a 23.28 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders own 0.20% of the company’s stock.

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.