Bryn Mawr Capital Management LLC decreased its holdings in shares of Medtronic plc (NYSE:MDT - Free Report) by 89.5% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 14,063 shares of the medical technology company's stock after selling 119,982 shares during the quarter. Bryn Mawr Capital Management LLC's holdings in Medtronic were worth $1,123,000 as of its most recent filing with the Securities and Exchange Commission.
Other large investors have also recently bought and sold shares of the company. Fortitude Family Office LLC purchased a new position in Medtronic during the 3rd quarter valued at about $27,000. Highline Wealth Partners LLC acquired a new stake in shares of Medtronic during the third quarter worth approximately $27,000. Darwin Wealth Management LLC acquired a new stake in shares of Medtronic during the third quarter worth approximately $27,000. Stephens Consulting LLC grew its position in Medtronic by 145.7% during the fourth 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. Finally, J. Stern & Co. LLP acquired a new position in Medtronic in the 3rd quarter valued at approximately $30,000. 82.06% of the stock is owned by institutional investors and hedge funds.
Insider Activity
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 transaction, the executive vice president now owns 40,979 shares of the company's stock, 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 legal filing with the SEC, which is available through this hyperlink. 0.20% of the stock is owned by company insiders.
Medtronic Stock Performance
MDT traded up $2.01 during trading on Friday, hitting $89.95. The stock had a trading volume of 11,762,886 shares, compared to its average volume of 7,605,718. The firm has a market cap of $115.34 billion, a PE ratio of 27.34, a P/E/G ratio of 2.46 and a beta of 0.84. The company has a current ratio of 1.90, a quick ratio of 1.39 and a debt-to-equity ratio of 0.48. Medtronic plc has a 12 month low of $75.96 and a 12 month high of $93.08. The company has a 50 day simple moving average of $85.93 and a 200-day simple moving average of $87.03.
Medtronic (NYSE:MDT - Get Free Report) last issued 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 company had revenue of $8.29 billion for the quarter, compared to the consensus estimate of $8.33 billion. Analysts expect that Medtronic plc will post 5.46 EPS for the current year.
Medtronic Announces Dividend
The firm also recently declared a quarterly dividend, which was paid on Friday, January 10th. Stockholders of record on Friday, December 27th were issued a dividend of $0.70 per share. The ex-dividend date of this dividend was Friday, December 27th. This represents a $2.80 dividend on an annualized basis and a dividend yield of 3.11%. Medtronic's dividend payout ratio (DPR) is presently 85.11%.
Wall Street Analyst Weigh In
MDT has been the topic of several research analyst reports. Barclays boosted their price target on shares of Medtronic from $105.00 to $109.00 and gave the company an "overweight" rating in a report on Tuesday, November 26th. Truist Financial reduced their price objective on Medtronic from $93.00 to $89.00 and set a "hold" rating for the company in a research report on Wednesday, December 18th. Needham & Company LLC reaffirmed a "hold" rating on shares of Medtronic in a research report on Wednesday. Robert W. Baird lifted their price target on Medtronic from $90.00 to $91.00 and gave the company a "neutral" rating in a report on Wednesday. Finally, JPMorgan Chase & Co. lowered their price target on Medtronic from $99.00 to $96.00 and set a "neutral" rating for the company in a research note on Friday, November 15th. One analyst has rated the stock with a sell rating, nine have issued a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of "Hold" and a consensus price target of $95.20.
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About Medtronic
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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.
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