Kesler Norman & Wride LLC Sells 42,554 Shares of Medtronic PLC $MDT

Kesler Norman & Wride LLC cut its stake in Medtronic PLC (NYSE:MDT) by 74.9% in the fourth quarter, HoldingsChannel reports. The fund owned 14,277 shares of the medical technology company’s stock after selling 42,554 shares during the period. Kesler Norman & Wride LLC’s holdings in Medtronic were worth $1,371,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Lodestone Wealth Management LLC bought a new position in shares of Medtronic in the fourth quarter worth about $27,000. Anfield Capital Management LLC raised its stake in shares of Medtronic by 410.7% in the fourth quarter. Anfield Capital Management LLC now owns 286 shares of the medical technology company’s stock worth $27,000 after acquiring an additional 230 shares during the last quarter. Board of the Pension Protection Fund bought a new position in shares of Medtronic in the fourth quarter worth about $29,000. GoalVest Advisory LLC acquired a new position in shares of Medtronic during the fourth quarter valued at $29,000. Finally, Imprint Wealth LLC acquired a new position in shares of Medtronic during the third quarter valued at $31,000. 82.06% of the stock is owned by institutional investors.

Medtronic Trading Down 0.3%

NYSE:MDT opened at $73.72 on Wednesday. Medtronic PLC has a 1-year low of $73.31 and a 1-year high of $106.33. The business’s 50-day moving average price is $82.11 and its two-hundred day moving average price is $92.49. The company has a current ratio of 2.54, a quick ratio of 1.87 and a debt-to-equity ratio of 0.57. The firm has a market capitalization of $94.65 billion, a price-to-earnings ratio of 20.54, a PEG ratio of 1.76 and a beta of 0.58.

Medtronic Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, April 17th. Shareholders of record on Friday, March 27th were paid a $0.71 dividend. The ex-dividend date of this dividend was Friday, March 27th. This represents a $2.84 annualized dividend and a yield of 3.9%. Medtronic’s dividend payout ratio is presently 79.11%.

Wall Street Analyst Weigh In

MDT has been the topic of several research reports. Argus cut their price target on Medtronic from $125.00 to $115.00 and set a “buy” rating on the stock in a research note on Monday, April 6th. Barclays upped their price target on Medtronic from $118.00 to $120.00 and gave the company an “overweight” rating in a research note on Wednesday, April 1st. Evercore set a $106.00 price target on Medtronic and gave the company an “outperform” rating in a research note on Thursday, April 9th. Daiwa Securities Group cut their price target on Medtronic from $117.00 to $115.00 and set a “buy” rating on the stock in a research note on Friday, February 27th. Finally, Truist Financial cut their price target on Medtronic from $103.00 to $95.00 and set a “hold” rating on the stock in a research note on Wednesday, April 15th. Fifteen research analysts have rated the stock with a Buy rating and eleven have issued a Hold rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $106.45.

Medtronic Company Profile

Medtronic plc is a global medical technology company that develops and manufactures a broad range of therapeutic devices and health care solutions. Headquartered legally in Ireland with principal operational offices in the United States, the company markets products to hospitals, physicians and health systems worldwide and has grown from its founding in 1949 into one of the largest medical-device manufacturers serving global health-care markets.

Medtronic’s offerings span several clinical areas, including cardiac rhythm and heart failure (pacemakers, implantable cardioverter‑defibrillators and related cardiac therapies), minimally invasive and surgical technologies (laparoscopic and advanced energy devices, visualization systems and surgical innovations), restorative therapies (spine and orthopedics, neuromodulation and neurovascular treatments) and diabetes management (insulin-delivery systems and glucose monitoring solutions).