Bessemer Group Inc. Sells 13,561 Shares of Medtronic plc (NYSE:MDT)

Bessemer Group Inc. lessened its position in shares of Medtronic plc (NYSE:MDT - Free Report) by 2.0% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 665,608 shares of the medical technology company's stock after selling 13,561 shares during the period. Bessemer Group Inc. owned 0.05% of Medtronic worth $53,170,000 at the end of the most recent reporting period.

Other large investors also recently added to or reduced their stakes in the company. Mainstream Capital Management LLC bought a new stake in shares of Medtronic during the fourth quarter valued at about $26,000. Stephens Consulting LLC grew its position in shares of Medtronic by 145.7% during the 4th quarter. Stephens Consulting LLC now owns 344 shares of the medical technology company's stock valued at $27,000 after purchasing an additional 204 shares in the last quarter. Rakuten Securities Inc. increased its holdings in shares of Medtronic by 753.8% in the fourth quarter. Rakuten Securities Inc. now owns 333 shares of the medical technology company's stock worth $27,000 after purchasing an additional 294 shares during the period. Fiduciary Advisors Inc. bought a new position in shares of Medtronic during the 4th quarter valued at about $36,000. Finally, Kieckhefer Group LLC purchased a new position in shares of Medtronic during the 4th quarter valued at about $40,000. Hedge funds and other institutional investors own 82.06% of the company's stock.

Medtronic Stock Performance

NYSE:MDT traded up $0.62 on Monday, hitting $83.52. The stock had a trading volume of 1,683,864 shares, compared to its average volume of 6,664,317. The business's 50-day simple moving average is $89.71 and its two-hundred day simple moving average is $87.63. The stock has a market cap of $107.12 billion, a price-to-earnings ratio of 25.39, a price-to-earnings-growth ratio of 2.22 and a beta of 0.79. Medtronic plc has a 52-week low of $75.96 and a 52-week high of $96.25. The company has a quick ratio of 1.39, a current ratio of 1.90 and a debt-to-equity ratio of 0.48.

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

Medtronic Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, April 11th. Stockholders of record on Friday, March 28th were issued a $0.70 dividend. The ex-dividend date was Friday, March 28th. This represents a $2.80 annualized dividend and a dividend yield of 3.35%. Medtronic's dividend payout ratio (DPR) is 85.11%.

Analysts Set New Price Targets

Several research analysts have recently commented on the company. Royal Bank of Canada reiterated an "outperform" rating and issued a $105.00 price objective on shares of Medtronic in a report on Wednesday, February 19th. Robert W. Baird increased their price target on shares of Medtronic from $90.00 to $91.00 and gave the stock a "neutral" rating in a research note on Wednesday, February 19th. Citigroup upgraded Medtronic from a "neutral" rating to a "buy" rating and upped their target price for the stock from $92.00 to $107.00 in a report on Tuesday, March 4th. Needham & Company LLC restated a "hold" rating on shares of Medtronic in a research note on Wednesday, February 19th. Finally, Truist Financial lowered their price objective on Medtronic from $93.00 to $90.00 and set a "hold" rating for the company in a research report on Friday. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Hold" and an average price target of $96.14.

Insider Buying and Selling

In other Medtronic news, EVP Brett A. Wall sold 12,437 shares of the company's stock in a transaction on Friday, January 24th. The stock was sold at an average price of $90.00, for a total value of $1,119,330.00. Following the transaction, the executive vice president now owns 40,979 shares of the company's stock, valued at $3,688,110. This represents a 23.28 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. 0.20% of the stock is owned by company insiders.

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.