Aviva PLC Sells 30,243 Shares of Medtronic plc (NYSE:MDT)

Aviva PLC lowered its position in shares of Medtronic plc (NYSE:MDT - Free Report) by 6.6% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 426,502 shares of the medical technology company's stock after selling 30,243 shares during the quarter. Aviva PLC's holdings in Medtronic were worth $34,069,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in MDT. Oarsman Capital Inc. increased its stake in shares of Medtronic by 8.4% in the fourth quarter. Oarsman Capital Inc. now owns 30,400 shares of the medical technology company's stock valued at $2,428,000 after buying an additional 2,353 shares in the last quarter. Prudential PLC increased its position in Medtronic by 18.9% in the 4th quarter. Prudential PLC now owns 38,208 shares of the medical technology company's stock valued at $3,052,000 after acquiring an additional 6,066 shares in the last quarter. PAX Financial Group LLC lifted its position in shares of Medtronic by 3.5% during the fourth quarter. PAX Financial Group LLC now owns 7,528 shares of the medical technology company's stock worth $601,000 after purchasing an additional 252 shares in the last quarter. Foundry Partners LLC grew its stake in shares of Medtronic by 0.3% during the fourth quarter. Foundry Partners LLC now owns 268,311 shares of the medical technology company's stock valued at $21,433,000 after purchasing an additional 679 shares during the last quarter. Finally, Pitcairn Co. increased its holdings in shares of Medtronic by 35.6% in the fourth quarter. Pitcairn Co. now owns 29,357 shares of the medical technology company's stock valued at $2,345,000 after purchasing an additional 7,711 shares in the last quarter. 82.06% of the stock is owned by institutional investors.

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Insider Activity

In other news, EVP Brett A. Wall sold 12,437 shares of Medtronic stock in a transaction dated Friday, January 24th. The shares were 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 owns 40,979 shares of the company's stock, valued at $3,688,110. This trade represents a 23.28 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. 0.20% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of research analysts have commented on MDT shares. Truist Financial decreased their price objective on Medtronic from $93.00 to $89.00 and set a "hold" rating on the stock in a research report on Wednesday, December 18th. Citigroup upgraded Medtronic from a "neutral" rating to a "buy" rating and lifted their price objective for the stock from $92.00 to $107.00 in a research report on Tuesday, March 4th. Needham & Company LLC restated a "hold" rating on shares of Medtronic in a research report on Wednesday, February 19th. Royal Bank of Canada reiterated an "outperform" rating and set a $105.00 price target on shares of Medtronic in a research report on Wednesday, February 19th. Finally, UBS Group increased their price objective on shares of Medtronic from $85.00 to $95.00 and gave the company a "neutral" rating in a report on Wednesday, February 19th. One analyst has rated the stock with a sell rating, eight have assigned a hold rating, six have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company has an average rating of "Hold" and an average price target of $96.07.

Medtronic Stock Down 3.9 %

Shares of Medtronic stock traded down $3.33 on Thursday, hitting $81.95. The company had a trading volume of 2,599,923 shares, compared to its average volume of 6,648,354. The stock has a 50-day moving average of $90.04 and a 200-day moving average of $87.74. The company has a debt-to-equity ratio of 0.48, a current ratio of 1.90 and a quick ratio of 1.39. Medtronic plc has a twelve month low of $75.96 and a twelve month high of $96.25. The firm has a market capitalization of $105.11 billion, a P/E ratio of 25.05, a P/E/G ratio of 2.22 and a beta of 0.79.

Medtronic (NYSE:MDT - Get Free Report) last released its quarterly earnings results on Tuesday, February 18th. The medical technology company reported $1.39 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.36 by $0.03. Medtronic had a return on equity of 14.07% and a net margin of 12.83%. The firm had revenue of $8.29 billion for the quarter, compared to the consensus estimate of $8.33 billion. Research analysts predict that Medtronic plc will post 5.46 earnings per share for the current year.

Medtronic Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, April 11th. Stockholders of record on Friday, March 28th will be paid a dividend of $0.70 per share. The ex-dividend date of this dividend is Friday, March 28th. This represents a $2.80 dividend on an annualized basis and a dividend yield of 3.42%. Medtronic's dividend payout ratio is 85.11%.

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.