Dudley Capital Management LLC Sells 4,690 Shares of Medtronic plc (NYSE:MDT)

Dudley Capital Management LLC lessened its stake in shares of Medtronic plc (NYSE:MDT - Free Report) by 30.6% in the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 10,627 shares of the medical technology company's stock after selling 4,690 shares during the quarter. Dudley Capital Management LLC's holdings in Medtronic were worth $849,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of MDT. Mainstream Capital Management LLC bought a new stake in shares of Medtronic in the fourth quarter valued at approximately $26,000. Stephens Consulting LLC grew its stake in shares of Medtronic by 145.7% during the fourth quarter. Stephens Consulting LLC now owns 344 shares of the medical technology company's stock worth $27,000 after buying an additional 204 shares during the last quarter. Rakuten Securities Inc. increased its holdings in Medtronic by 753.8% in the 4th quarter. Rakuten Securities Inc. now owns 333 shares of the medical technology company's stock worth $27,000 after purchasing an additional 294 shares in the last quarter. J. Stern & Co. LLP bought a new position in Medtronic in the third quarter valued at about $30,000. Finally, Fiduciary Advisors Inc. acquired a new stake in shares of Medtronic during the fourth quarter valued at about $36,000. Institutional investors own 82.06% of the company's stock.

Medtronic Trading Down 1.8 %

MDT traded down $1.63 during trading on Tuesday, hitting $88.50. The company's stock had a trading volume of 8,819,534 shares, compared to its average volume of 6,105,209. The firm has a market capitalization of $113.51 billion, a P/E ratio of 26.90, a PEG ratio of 2.22 and a beta of 0.80. Medtronic plc has a twelve month low of $75.96 and a twelve month high of $96.25. The stock's fifty day moving average price is $90.84 and its 200-day moving average price is $88.05. 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 released its quarterly earnings data on Tuesday, February 18th. The medical technology company reported $1.39 earnings per share for the quarter, beating the consensus estimate of $1.36 by $0.03. The company had revenue of $8.29 billion during the quarter, compared to analyst estimates of $8.33 billion. Medtronic had a net margin of 12.83% and a return on equity of 14.07%. Analysts anticipate that Medtronic plc will post 5.46 EPS for the current year.

Medtronic Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, April 11th. Stockholders of record on Friday, March 28th will be issued a dividend of $0.70 per share. The ex-dividend date is Friday, March 28th. This represents a $2.80 annualized dividend and a dividend yield of 3.16%. Medtronic's dividend payout ratio is currently 85.11%.

Insider Transactions at Medtronic

In related news, EVP Brett A. Wall sold 12,437 shares of the business's stock in a transaction dated 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 completion of the sale, the executive vice president now directly owns 40,979 shares of the company's stock, valued at $3,688,110. The trade was a 23.28 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Insiders own 0.20% of the company's stock.

Wall Street Analysts Forecast Growth

MDT has been the topic of a number of research reports. UBS Group boosted their target price on shares of Medtronic from $85.00 to $95.00 and gave the stock a "neutral" rating in a report on Wednesday, February 19th. Barclays boosted their price objective on shares of Medtronic from $105.00 to $109.00 and gave the stock an "overweight" rating in a research note on Tuesday, November 26th. Truist Financial lowered their target price 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 report on Wednesday, February 19th. Finally, Robert W. Baird increased their price target on Medtronic from $90.00 to $91.00 and gave the company a "neutral" rating in a research note on Wednesday, February 19th. 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 issued a strong buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus price target of $96.07.

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.