Weatherly Asset Management L. P. Has $233,000 Stock Position in Medtronic plc (NYSE:MDT)

Weatherly Asset Management L. P. cut its stake in shares of Medtronic plc (NYSE:MDT) by 35.5% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 2,805 shares of the medical technology company’s stock after selling 1,541 shares during the period. Weatherly Asset Management L. P.’s holdings in Medtronic were worth $233,000 as of its most recent filing with the SEC.

Several other institutional investors have also recently made changes to their positions in MDT. GAMMA Investing LLC bought a new stake in Medtronic during the fourth quarter worth $451,000. Community Bank & Trust Waco Texas lifted its stake in Medtronic by 26.1% in the 4th quarter. Community Bank & Trust Waco Texas now owns 18,599 shares of the medical technology company’s stock valued at $1,532,000 after purchasing an additional 3,854 shares during the last quarter. Parkside Financial Bank & Trust increased its position in Medtronic by 5.5% during the fourth quarter. Parkside Financial Bank & Trust now owns 6,277 shares of the medical technology company’s stock worth $517,000 after buying an additional 328 shares during the last quarter. Illinois Municipal Retirement Fund raised its stake in Medtronic by 24.4% in the fourth quarter. Illinois Municipal Retirement Fund now owns 277,768 shares of the medical technology company’s stock valued at $22,883,000 after buying an additional 54,544 shares during the period. Finally, Foster & Motley Inc. boosted its stake in shares of Medtronic by 83.3% during the 4th quarter. Foster & Motley Inc. now owns 15,969 shares of the medical technology company’s stock worth $1,316,000 after acquiring an additional 7,259 shares during the period. Institutional investors and hedge funds own 82.06% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have issued reports on the company. Truist Financial raised their price target on Medtronic from $87.00 to $90.00 and gave the company a “hold” rating in a report on Wednesday, February 21st. Oppenheimer lifted their target price on shares of Medtronic from $89.00 to $92.00 and gave the stock a “market perform” rating in a report on Wednesday, February 21st. Royal Bank of Canada reissued a “sector perform” rating and issued a $92.00 price target on shares of Medtronic in a report on Wednesday, February 21st. Finally, Mizuho boosted their price objective on Medtronic from $95.00 to $98.00 and gave the stock a “buy” rating in a report on Wednesday, February 21st. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Medtronic currently has an average rating of “Moderate Buy” and an average target price of $94.91.

Insider Buying and Selling

In other Medtronic news, EVP Sean Salmon sold 30,695 shares of the firm’s stock in a transaction on Wednesday, February 21st. The stock was sold at an average price of $85.13, for a total value of $2,613,065.35. Following the sale, the executive vice president now owns 48,289 shares of the company’s stock, valued at approximately $4,110,842.57. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In other news, EVP Sean Salmon sold 30,695 shares of the firm’s stock in a transaction that occurred on Wednesday, February 21st. The shares were sold at an average price of $85.13, for a total value of $2,613,065.35. Following the sale, the executive vice president now directly owns 48,289 shares in the company, valued at approximately $4,110,842.57. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP Michael Marinaro sold 854 shares of the stock in a transaction that occurred on Monday, April 8th. The shares were sold at an average price of $83.14, for a total transaction of $71,001.56. Following the completion of the transaction, the executive vice president now directly owns 27,925 shares of the company’s stock, valued at approximately $2,321,684.50. The disclosure for this sale can be found here. 0.30% of the stock is currently owned by company insiders.

Medtronic Price Performance

NYSE:MDT traded down $0.83 during trading hours on Wednesday, reaching $80.46. 2,477,759 shares of the company were exchanged, compared to its average volume of 6,240,807. The company has a market capitalization of $106.84 billion, a P/E ratio of 25.66, a P/E/G ratio of 2.76 and a beta of 0.76. The company has a debt-to-equity ratio of 0.46, a current ratio of 2.30 and a quick ratio of 1.71. The business has a 50 day moving average of $83.80 and a 200 day moving average of $81.14. Medtronic plc has a 1-year low of $68.84 and a 1-year high of $92.02.

Medtronic (NYSE:MDT) last issued its quarterly earnings results on Tuesday, February 20th. The medical technology company reported $1.30 EPS for the quarter, topping analysts’ consensus estimates of $1.26 by $0.04. Medtronic had a return on equity of 13.71% and a net margin of 13.00%. The company had revenue of $8.09 billion for the quarter, compared to analysts’ expectations of $7.95 billion. During the same quarter last year, the business earned $1.30 earnings per share. Medtronic’s revenue was up 4.7% on a year-over-year basis. Research analysts forecast that Medtronic plc will post 5.2 EPS for the current year.

Medtronic Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, April 12th. Investors of record on Friday, March 22nd were given a dividend of $0.69 per share. The ex-dividend date of this dividend was Thursday, March 21st. This represents a $2.76 annualized dividend and a dividend yield of 3.43%. Medtronic’s dividend payout ratio is 87.90%.

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.