Community Financial Services Group LLC Sells 3,890 Shares of Medtronic plc (NYSE:MDT)

Community Financial Services Group LLC reduced its position in shares of Medtronic plc (NYSE:MDT - Free Report) by 46.3% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 4,520 shares of the medical technology company's stock after selling 3,890 shares during the period. Community Financial Services Group LLC's holdings in Medtronic were worth $361,000 at the end of the most recent reporting period.

Other institutional investors have also recently bought and sold shares of the company. Signet Investment Advisory Group Inc. grew its position in shares of Medtronic by 2.8% in the fourth quarter. Signet Investment Advisory Group Inc. now owns 21,977 shares of the medical technology company's stock valued at $1,756,000 after purchasing an additional 600 shares during the last quarter. Leavell Investment Management Inc. raised its position in shares of Medtronic by 4.4% during the fourth quarter. Leavell Investment Management Inc. now owns 5,331 shares of the medical technology company's stock valued at $430,000 after buying an additional 226 shares during the last quarter. Portfolio Design Labs LLC lifted its stake in shares of Medtronic by 67.4% in the fourth quarter. Portfolio Design Labs LLC now owns 4,422 shares of the medical technology company's stock valued at $353,000 after buying an additional 1,781 shares during the period. Sovran Advisors LLC bought a new position in Medtronic during the fourth quarter valued at about $415,000. Finally, Strengthening Families & Communities LLC lifted its position in shares of Medtronic by 8.6% in the 4th quarter. Strengthening Families & Communities LLC now owns 23,118 shares of the medical technology company's stock worth $1,847,000 after acquiring an additional 1,833 shares during the period. Institutional investors own 82.06% of the company's stock.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on the stock. Sanford C. Bernstein increased their price target on shares of Medtronic from $96.00 to $97.00 and gave the stock an "outperform" rating in a research report on Wednesday, November 20th. Barclays lifted their price objective on Medtronic from $105.00 to $109.00 and gave the company an "overweight" rating in a report on Tuesday, November 26th. Truist Financial dropped their target price on shares of Medtronic from $93.00 to $89.00 and set a "hold" rating for the company in a research report on Wednesday, December 18th. Robert W. Baird reduced their price target on shares of Medtronic from $96.00 to $93.00 and set a "neutral" rating on the stock in a research report on Wednesday, November 20th. Finally, Needham & Company LLC reaffirmed a "hold" rating on shares of Medtronic in a report on Wednesday. One research analyst has rated the stock with a sell rating, nine have issued 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.com, Medtronic currently has an average rating of "Hold" and an average price target of $95.00.

Medtronic Trading Up 0.2 %

Shares of MDT traded up $0.15 on Wednesday, reaching $91.35. 7,053,193 shares of the company's stock were exchanged, compared to its average volume of 7,167,588. Medtronic plc has a 12 month low of $75.96 and a 12 month high of $93.08. The stock has a market capitalization of $117.14 billion, a P/E ratio of 27.94, a price-to-earnings-growth ratio of 2.57 and a beta of 0.84. The company has a current ratio of 1.84, a quick ratio of 1.39 and a debt-to-equity ratio of 0.51. The business has a 50 day moving average price of $85.04 and a two-hundred day moving average price of $86.65.

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

Medtronic Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, January 10th. Shareholders of record on Friday, December 27th were issued a $0.70 dividend. The ex-dividend date was Friday, December 27th. This represents a $2.80 annualized dividend and a yield of 3.07%. Medtronic's dividend payout ratio (DPR) is presently 85.63%.

Insider Activity

In other Medtronic news, EVP Brett A. Wall sold 9,850 shares of the firm's stock in a transaction that occurred on Wednesday, January 8th. The shares were sold at an average price of $80.41, for a total transaction of $792,038.50. Following the sale, the executive vice president now directly owns 40,708 shares in the company, valued at approximately $3,273,330.28. This trade represents a 19.48 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. 0.20% of the stock is owned by company insiders.

Medtronic Profile

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.