Medtronic plc (NYSE:MDT) Shares Sold by MADDEN SECURITIES Corp

MADDEN SECURITIES Corp reduced its holdings in Medtronic plc (NYSE:MDT – Get Rating) by 10.6% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 2,365 shares of the medical technology company’s stock after selling 280 shares during the quarter. MADDEN SECURITIES Corp’s holdings in Medtronic were worth $184,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in the business. IAG Wealth Partners LLC boosted its stake in Medtronic by 58.1% during the 3rd quarter. IAG Wealth Partners LLC now owns 351 shares of the medical technology company’s stock valued at $28,000 after purchasing an additional 129 shares in the last quarter. Annapolis Financial Services LLC boosted its stake in Medtronic by 368.0% during the 3rd quarter. Annapolis Financial Services LLC now owns 482 shares of the medical technology company’s stock valued at $39,000 after purchasing an additional 379 shares in the last quarter. SJS Investment Consulting Inc. bought a new position in Medtronic during the 3rd quarter valued at $44,000. Fairfield Bush & CO. bought a new position in Medtronic during the 1st quarter valued at $47,000. Finally, Clear Investment Research LLC bought a new position in Medtronic during the 3rd quarter valued at $48,000. 80.37% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, major shareholder Plc Medtronic bought 6,835 shares of the business’s stock in a transaction that occurred on Monday, January 30th. The stock was acquired at an average cost of $9.28 per share, for a total transaction of $63,428.80. Following the purchase, the insider now owns 4,999,423 shares of the company’s stock, valued at approximately $46,394,645.44. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.29% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on the company. Deutsche Bank Aktiengesellschaft increased their price target on Medtronic from $80.00 to $87.00 in a research note on Wednesday, February 22nd. Piper Sandler reduced their price objective on Medtronic from $90.00 to $80.00 in a research note on Tuesday, November 22nd. Stifel Nicolaus reduced their price objective on Medtronic from $105.00 to $90.00 in a research note on Wednesday, November 23rd. Cowen reduced their price objective on Medtronic from $117.00 to $90.00 in a research note on Wednesday, November 23rd. Finally, Morgan Stanley decreased their target price on Medtronic from $97.00 to $88.00 and set an “equal weight” rating for the company in a research report on Wednesday, November 23rd. One equities research analyst has rated the stock with a sell rating, fourteen have assigned a hold rating and four have given a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $90.72.

Medtronic Trading Down 1.2 %

MDT stock traded down $0.98 during trading on Friday, hitting $78.29. The company had a trading volume of 8,838,609 shares, compared to its average volume of 6,420,709. The firm has a 50-day moving average price of $82.06 and a 200-day moving average price of $82.25. The stock has a market cap of $104.16 billion, a price-to-earnings ratio of 25.75, a PEG ratio of 2.36 and a beta of 0.71. Medtronic plc has a 12 month low of $75.76 and a 12 month high of $114.31. The company has a quick ratio of 1.39, a current ratio of 1.76 and a debt-to-equity ratio of 0.43.

Medtronic (NYSE:MDT – Get Rating) last announced its quarterly earnings results on Tuesday, February 21st. The medical technology company reported $1.30 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.27 by $0.03. Medtronic had a net margin of 13.20% and a return on equity of 13.37%. The company had revenue of $7.70 billion during the quarter, compared to analyst estimates of $7.53 billion. During the same quarter in the previous year, the business earned $1.37 EPS. The firm’s revenue was down .8% on a year-over-year basis. As a group, analysts predict that Medtronic plc will post 5.28 earnings per share for the current year.

Medtronic Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, April 14th. Stockholders of record on Friday, March 24th will be issued a $0.68 dividend. This represents a $2.72 annualized dividend and a dividend yield of 3.47%. The ex-dividend date of this dividend is Thursday, March 23rd. Medtronic’s payout ratio is 89.47%.

Medtronic Profile

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Medtronic Plc is a medical technology company, which engages in the development, manufacture, distribution, and sale of device-based medical therapies and services. It operates through the following segments: Cardiovascular Porrtfolio, Neuroscience Portfolio, Medical Surgical Portfolio, and Diabetes Operating Unit.