Cambiar Investors LLC Lowers Stock Position in Medtronic plc (NYSE:MDT)

Cambiar Investors LLC lowered its stake in shares of Medtronic plc (NYSE:MDT - Free Report) by 4.2% during the 4th quarter, according to its most recent filing with the SEC. The firm owned 654,799 shares of the medical technology company's stock after selling 28,813 shares during the period. Medtronic makes up approximately 2.1% of Cambiar Investors LLC's holdings, making the stock its 16th biggest position. Cambiar Investors LLC owned approximately 0.05% of Medtronic worth $52,305,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in the stock. Fortitude Family Office LLC bought a new position in shares of Medtronic in the third quarter worth about $27,000. Highline Wealth Partners LLC purchased a new stake in shares of Medtronic in the third quarter valued at $27,000. Darwin Wealth Management LLC purchased a new stake in Medtronic in the third quarter worth $27,000. Stephens Consulting LLC increased its holdings in Medtronic by 145.7% during the 4th quarter. Stephens Consulting LLC now owns 344 shares of the medical technology company's stock worth $27,000 after purchasing an additional 204 shares during the period. Finally, J. Stern & Co. LLP bought a new position in shares of Medtronic during the third quarter valued at approximately $30,000. Hedge funds and other institutional investors own 82.06% of the company's stock.

Insider Activity at Medtronic

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

Medtronic Price Performance

Shares of Medtronic stock traded up $0.34 on Tuesday, hitting $91.18. The company's stock had a trading volume of 6,534,547 shares, compared to its average volume of 7,171,805. The firm has a fifty day moving average price of $84.93 and a 200-day moving average price of $86.56. Medtronic plc has a 1 year low of $75.96 and a 1 year high of $93.08. The company has a market capitalization of $116.92 billion, a price-to-earnings ratio of 27.88, a price-to-earnings-growth ratio of 2.57 and a beta of 0.84. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.39 and a current ratio of 1.84.

Medtronic (NYSE:MDT - Get Free Report) last released its quarterly earnings data on Tuesday, November 19th. The medical technology company reported $1.26 earnings per share for the quarter, topping analysts' consensus estimates of $1.25 by $0.01. The company had revenue of $8.40 billion for the quarter, compared to analyst estimates of $8.27 billion. Medtronic had a return on equity of 13.79% and a net margin of 13.00%. The firm's revenue for the quarter was up 5.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.25 earnings per share. As a group, sell-side analysts anticipate that Medtronic plc will post 5.45 earnings per share for the current fiscal year.

Medtronic Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, January 10th. Stockholders of record on Friday, December 27th were paid a $0.70 dividend. This represents a $2.80 annualized dividend and a dividend yield of 3.07%. The ex-dividend date of this dividend was Friday, December 27th. Medtronic's payout ratio is currently 85.63%.

Analyst Ratings Changes

MDT has been the subject of a number of analyst reports. Wells Fargo & Company decreased their target price on shares of Medtronic from $106.00 to $98.00 and set an "overweight" rating for the company in a research report on Wednesday, November 20th. Needham & Company LLC restated a "hold" rating on shares of Medtronic in a report on Monday, November 18th. Robert W. Baird cut their price target on shares of Medtronic from $96.00 to $93.00 and set a "neutral" rating on the stock in a research note on Wednesday, November 20th. Truist Financial dropped their price objective on shares of Medtronic from $93.00 to $89.00 and set a "hold" rating on the stock in a report on Wednesday, December 18th. Finally, Sanford C. Bernstein lifted their price target on Medtronic from $96.00 to $97.00 and gave the stock an "outperform" rating in a research report on Wednesday, November 20th. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating, six have given a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat.com, the company presently has a consensus rating of "Hold" and an average price target of $95.00.

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.