Tufton Capital Management Has $5.56 Million Stock Holdings in Medtronic plc (NYSE:MDT)

Tufton Capital Management cut its holdings in Medtronic plc (NYSE:MDT) by 2.4% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 69,561 shares of the medical technology company’s stock after selling 1,692 shares during the quarter. Tufton Capital Management’s holdings in Medtronic were worth $5,557,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in the business. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in shares of Medtronic by 436.7% in the third 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 buying an additional 5,975,110 shares during the last quarter. Van ECK Associates Corp lifted its stake in shares of Medtronic by 2,043.4% in the fourth quarter. Van ECK Associates Corp now owns 2,598,150 shares of the medical technology company’s stock worth $207,540,000 after buying an additional 2,476,935 shares during the last quarter. Bank of Montreal Can lifted its stake in shares of Medtronic by 65.0% in the third quarter. Bank of Montreal Can now owns 4,546,819 shares of the medical technology company’s stock worth $406,122,000 after buying an additional 1,790,483 shares during the last quarter. Janus Henderson Group PLC lifted its stake in shares of Medtronic by 58.4% in the third quarter. Janus Henderson Group PLC now owns 3,850,914 shares of the medical technology company’s stock worth $346,705,000 after buying an additional 1,420,263 shares during the last quarter. Finally, Worldquant Millennium Advisors LLC lifted its stake in shares of Medtronic by 5,124.5% in the third quarter. Worldquant Millennium Advisors LLC now owns 1,035,708 shares of the medical technology company’s stock worth $93,245,000 after buying an additional 1,015,884 shares during the last quarter. 82.06% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Medtronic news, EVP Brett A. Wall sold 9,850 shares of the stock in a transaction dated Wednesday, January 8th. The shares were sold at an average price of $80.41, for a total transaction of $792,038.50. Following the sale, the executive vice president now owns 40,708 shares of the company’s stock, valued at $3,273,330.28. This represents a 19.48 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 0.20% of the company’s stock.

Medtronic Stock Up 0.1 %

MDT opened at $90.67 on Friday. The firm’s 50-day simple moving average is $86.86 and its 200-day simple moving average is $87.35. The company has a debt-to-equity ratio of 0.48, a quick ratio of 1.39 and a current ratio of 1.90. Medtronic plc has a twelve month low of $75.96 and a twelve month high of $93.08. The firm has a market cap of $116.26 billion, a price-to-earnings ratio of 27.56, a PEG ratio of 2.22 and a beta of 0.84.

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

Medtronic Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, January 10th. Stockholders of record on Friday, December 27th were issued a $0.70 dividend. This represents a $2.80 annualized dividend and a dividend yield of 3.09%. The ex-dividend date of this dividend was Friday, December 27th. Medtronic’s payout ratio is 85.11%.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on the stock. Sanford C. Bernstein boosted their price objective on shares of Medtronic from $96.00 to $97.00 and gave the stock an “outperform” rating in a research note on Wednesday, November 20th. JPMorgan Chase & Co. cut their target price on shares of Medtronic from $99.00 to $96.00 and set a “neutral” rating for the company in a research note on Friday, November 15th. Needham & Company LLC reiterated a “hold” rating on shares of Medtronic in a research note on Wednesday, February 19th. Robert W. Baird upped their target price on shares of Medtronic from $90.00 to $91.00 and gave the company a “neutral” rating in a research note on Wednesday, February 19th. Finally, 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. One analyst has rated the stock with a sell rating, nine have given a hold rating, five have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, Medtronic has a consensus rating of “Hold” and a consensus target price of $95.00.

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.