TD Private Client Wealth LLC Cuts Position in Medtronic plc (NYSE:MDT)

TD Private Client Wealth LLC lessened its holdings in Medtronic plc (NYSE:MDT) by 4.6% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 58,274 shares of the medical technology company’s stock after selling 2,786 shares during the period. TD Private Client Wealth LLC’s holdings in Medtronic were worth $4,655,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Mainstream Capital Management LLC purchased a new position in shares of Medtronic in the 4th quarter valued at about $26,000. Darwin Wealth Management LLC acquired a new stake in Medtronic in the 3rd quarter worth about $27,000. Stephens Consulting LLC boosted its holdings in Medtronic by 145.7% in the 4th quarter. Stephens Consulting LLC now owns 344 shares of the medical technology company’s stock worth $27,000 after buying an additional 204 shares during the last quarter. Rakuten Securities Inc. boosted its holdings in Medtronic by 753.8% in the 4th quarter. Rakuten Securities Inc. now owns 333 shares of the medical technology company’s stock worth $27,000 after buying an additional 294 shares during the last quarter. Finally, J. Stern & Co. LLP acquired a new stake in Medtronic in the 3rd quarter worth about $30,000. Hedge funds and other institutional investors own 82.06% of the company’s stock.

Medtronic Stock Down 0.9 %

Shares of NYSE MDT opened at $90.37 on Friday. The firm has a market cap of $115.90 billion, a price-to-earnings ratio of 27.47, a PEG ratio of 2.22 and a beta of 0.80. The company has a quick ratio of 1.39, a current ratio of 1.90 and a debt-to-equity ratio of 0.48. Medtronic plc has a 52-week low of $75.96 and a 52-week high of $96.25. The business’s 50 day moving average is $90.67 and its two-hundred day moving average is $88.08.

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

Medtronic Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, April 11th. Stockholders of record on Friday, March 28th will be given a dividend of $0.70 per share. This represents a $2.80 dividend on an annualized basis and a dividend yield of 3.10%. The ex-dividend date of this dividend is Friday, March 28th. Medtronic’s dividend payout ratio is currently 85.11%.

Analyst Ratings Changes

Several research firms recently issued reports on MDT. Robert W. Baird lifted their price objective on Medtronic from $90.00 to $91.00 and gave the stock a “neutral” rating in a report on Wednesday, February 19th. Truist Financial lowered their target price on Medtronic from $93.00 to $89.00 and set a “hold” rating on the stock in a report on Wednesday, December 18th. Needham & Company LLC restated a “hold” rating on shares of Medtronic in a report on Wednesday, February 19th. Barclays boosted their target price on Medtronic from $105.00 to $109.00 and gave the stock an “overweight” rating in a report on Tuesday, November 26th. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and set a $105.00 price target on shares of Medtronic in a research report on Wednesday, February 19th. One analyst has rated the stock with a sell rating, eight have given a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, Medtronic presently has a consensus rating of “Hold” and a consensus price target of $96.07.

Insider Transactions at Medtronic

In related news, EVP Brett A. Wall sold 12,437 shares of the business’s stock in a transaction on Friday, January 24th. The shares were sold at an average price of $90.00, for a total transaction of $1,119,330.00. Following the completion of the transaction, the executive vice president now owns 40,979 shares in the company, valued at approximately $3,688,110. The trade was a 23.28 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Corporate insiders own 0.20% of the company’s stock.

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.