Dorsey & Whitney Trust CO LLC cut its stake in shares of Medtronic plc (NYSE:MDT - Free Report) by 21.1% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 91,573 shares of the medical technology company's stock after selling 24,527 shares during the quarter. Dorsey & Whitney Trust CO LLC's holdings in Medtronic were worth $7,315,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds have also made changes to their positions in MDT. Darwin Wealth Management LLC acquired a new position in Medtronic during the 3rd quarter valued at about $27,000. Mainstream Capital Management LLC acquired a new position in shares of Medtronic during the fourth quarter worth approximately $26,000. J. Stern & Co. LLP bought a new position in Medtronic in the 3rd quarter worth approximately $30,000. Stephens Consulting LLC increased its position in Medtronic by 145.7% in the 4th quarter. Stephens Consulting LLC now owns 344 shares of the medical technology company's stock valued at $27,000 after acquiring an additional 204 shares during the period. Finally, Fiduciary Advisors Inc. acquired a new stake in Medtronic in the 4th quarter valued at approximately $36,000. 82.06% of the stock is currently owned by institutional investors and hedge funds.
Medtronic Stock Down 0.4 %
MDT stock traded down $0.36 during mid-day trading on Tuesday, hitting $93.44. The stock had a trading volume of 7,300,420 shares, compared to its average volume of 6,055,511. The stock has a market capitalization of $119.85 billion, a price-to-earnings ratio of 28.40, a PEG ratio of 2.22 and a beta of 0.80. The company has a fifty day moving average of $88.62 and a 200 day moving average of $87.84. Medtronic plc has a 1-year low of $75.96 and a 1-year high of $96.25. 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 (NYSE:MDT - Get Free Report) last released its quarterly earnings data on Tuesday, February 18th. The medical technology company reported $1.39 EPS for the quarter, topping analysts' consensus estimates of $1.36 by $0.03. The firm had revenue of $8.29 billion for the quarter, compared to the consensus estimate of $8.33 billion. Medtronic had a return on equity of 14.07% and a net margin of 12.83%. On average, equities analysts expect that Medtronic plc will post 5.46 EPS for the current fiscal year.
Medtronic Dividend Announcement
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, April 11th. Investors of record on Friday, March 28th will be issued a $0.70 dividend. This represents a $2.80 dividend on an annualized basis and a yield of 3.00%. The ex-dividend date of this dividend is Friday, March 28th. Medtronic's dividend payout ratio is presently 85.11%.
Wall Street Analysts Forecast Growth
MDT has been the subject of several recent analyst reports. Needham & Company LLC reissued a "hold" rating on shares of Medtronic in a research note on Wednesday, February 19th. Citigroup upgraded shares of Medtronic from a "neutral" rating to a "buy" rating and raised their price objective for the company from $92.00 to $107.00 in a research note on Tuesday, March 4th. Robert W. Baird upped their target price on Medtronic from $90.00 to $91.00 and gave the stock a "neutral" rating in a research report on Wednesday, February 19th. Barclays lifted their price target on Medtronic from $105.00 to $109.00 and gave the company an "overweight" rating in a research report on Tuesday, November 26th. Finally, JPMorgan Chase & Co. cut their price objective on Medtronic from $99.00 to $96.00 and set a "neutral" rating for the company in a report on Friday, November 15th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat.com, the stock has a consensus rating of "Hold" and an average price target of $96.07.
Get Our Latest Stock Analysis on Medtronic
Insiders Place Their Bets
In other Medtronic news, EVP Brett A. Wall sold 12,437 shares of the company'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 of the company's stock, valued at $3,688,110. This represents a 23.28 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 0.20% of the company's stock.
Medtronic Profile
(
Free Report)
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.
See Also
Before you consider Medtronic, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Medtronic wasn't on the list.
While Medtronic currently has a Hold rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
MarketBeat's analysts have just released their top five short plays for March 2025. Learn which stocks have the most short interest and how to trade them. Enter your email address to see which companies made the list.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
