Medtronic plc (NYSE:MDT) Shares Sold by Stephens Inc. AR

Stephens Inc. AR reduced its stake in shares of Medtronic plc (NYSE:MDT) by 13.8% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 169,910 shares of the medical technology company’s stock after selling 27,239 shares during the quarter. Stephens Inc. AR’s holdings in Medtronic were worth $13,572,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of MDT. Wedmont Private Capital lifted its holdings in shares of Medtronic by 10.5% in the third quarter. Wedmont Private Capital now owns 4,798 shares of the medical technology company’s stock valued at $418,000 after buying an additional 457 shares during the period. Iowa State Bank bought a new stake in shares of Medtronic in the 3rd quarter worth approximately $1,175,000. Juncture Wealth Strategies LLC lifted its stake in Medtronic by 12.4% during the third quarter. Juncture Wealth Strategies LLC now owns 3,633 shares of the medical technology company’s stock valued at $327,000 after purchasing an additional 400 shares during the last quarter. MADDEN SECURITIES Corp acquired a new stake in Medtronic during the third quarter valued at approximately $219,000. Finally, Wynn Capital LLC grew its position in Medtronic by 19.5% in the third quarter. Wynn Capital LLC now owns 3,921 shares of the medical technology company’s stock worth $353,000 after buying an additional 640 shares during the last quarter. Institutional investors own 82.06% of the company’s stock.

Insider Activity

In related news, EVP Brett A. Wall sold 12,437 shares of the firm’s stock in a transaction on Friday, January 24th. The stock was sold at an average price of $90.00, for a total value of $1,119,330.00. Following the completion of the transaction, the executive vice president now directly owns 40,979 shares of the company’s stock, valued at $3,688,110. This trade represents a 23.28 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 0.20% of the stock is currently owned by company insiders.

Medtronic Stock Performance

Shares of MDT opened at $90.01 on Friday. The company has a market capitalization of $115.42 billion, a PE ratio of 27.53, a price-to-earnings-growth ratio of 2.57 and a beta of 0.84. The company’s fifty day moving average price is $84.85 and its 200 day moving average price is $86.38. Medtronic plc has a one year low of $75.96 and a one year high of $93.08. 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 issued its quarterly earnings results on Tuesday, November 19th. The medical technology company reported $1.26 earnings per share for the quarter, beating analysts’ consensus estimates of $1.25 by $0.01. Medtronic had a net margin of 13.00% and a return on equity of 13.79%. The firm had revenue of $8.40 billion during the quarter, compared to the consensus estimate of $8.27 billion. During the same period in the prior year, the firm earned $1.25 EPS. The business’s revenue was up 5.2% on a year-over-year basis. As a group, analysts expect that Medtronic plc will post 5.45 earnings per share for the current year.

Medtronic Announces Dividend

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

Analysts Set New Price Targets

MDT has been the subject of a number of recent research reports. Sanford C. Bernstein increased their price objective on Medtronic from $96.00 to $97.00 and gave the company an “outperform” rating in a research report on Wednesday, November 20th. JPMorgan Chase & Co. dropped their price target on Medtronic from $99.00 to $96.00 and set a “neutral” rating on the stock in a research note on Friday, November 15th. Truist Financial decreased their target price on shares of Medtronic from $93.00 to $89.00 and set a “hold” rating for the company in a report on Wednesday, December 18th. Barclays boosted their price target on shares of Medtronic from $105.00 to $109.00 and gave the company an “overweight” rating in a report on Tuesday, November 26th. Finally, Wells Fargo & Company cut their target price on shares of Medtronic from $106.00 to $98.00 and set an “overweight” rating on the stock in a research note on Wednesday, November 20th. One research analyst has rated the stock with a sell rating, nine have issued a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company presently has a consensus 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.