Federated Hermes Inc. Sells 6,534 Shares of Medtronic plc (NYSE:MDT)

Federated Hermes Inc. cut its stake in shares of Medtronic plc (NYSE:MDT - Free Report) by 2.2% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 285,671 shares of the medical technology company's stock after selling 6,534 shares during the quarter. Federated Hermes Inc.'s holdings in Medtronic were worth $22,819,000 as of its most recent SEC filing.

Several other institutional investors also recently made changes to their positions in MDT. MONECO Advisors LLC increased its stake in Medtronic by 1.8% in the fourth quarter. MONECO Advisors LLC now owns 6,408 shares of the medical technology company's stock valued at $512,000 after acquiring an additional 115 shares during the last quarter. OLD Second National Bank of Aurora increased its stake in shares of Medtronic by 0.3% in the 4th quarter. OLD Second National Bank of Aurora now owns 36,303 shares of the medical technology company's stock valued at $2,900,000 after purchasing an additional 121 shares during the last quarter. McKinley Carter Wealth Services Inc. increased its stake in shares of Medtronic by 0.7% in the 4th quarter. McKinley Carter Wealth Services Inc. now owns 19,677 shares of the medical technology company's stock valued at $1,572,000 after purchasing an additional 129 shares during the last quarter. Vestor Capital LLC raised its holdings in shares of Medtronic by 0.3% during the 4th quarter. Vestor Capital LLC now owns 51,375 shares of the medical technology company's stock worth $4,104,000 after buying an additional 138 shares in the last quarter. Finally, Retirement Planning Co of New England Inc. lifted its position in shares of Medtronic by 4.9% during the 4th quarter. Retirement Planning Co of New England Inc. now owns 2,989 shares of the medical technology company's stock worth $239,000 after buying an additional 139 shares during the last quarter. 82.06% of the stock is owned by institutional investors.

Remove Ads

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on the company. Truist Financial decreased their target price on Medtronic from $93.00 to $90.00 and set a "hold" rating on the stock in a research report on Friday. UBS Group upped their price objective on shares of Medtronic from $85.00 to $95.00 and gave the stock a "neutral" rating in a research report on Wednesday, February 19th. Royal Bank of Canada restated an "outperform" rating and issued a $105.00 target price on shares of Medtronic in a research report on Wednesday, February 19th. Citigroup upgraded shares of Medtronic from a "neutral" rating to a "buy" rating and upped their price target for the stock from $92.00 to $107.00 in a report on Tuesday, March 4th. Finally, Robert W. Baird raised their price objective on Medtronic from $90.00 to $91.00 and gave the company a "neutral" rating in a report on Wednesday, February 19th. One analyst has rated the stock with a sell rating, eight have assigned a hold rating, six have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average price target of $96.14.

Medtronic Trading Up 0.2 %

Medtronic stock traded up $0.15 during mid-day trading on Friday, hitting $82.69. 8,011,993 shares of the stock were exchanged, compared to its average volume of 6,683,754. The stock has a market capitalization of $106.05 billion, a price-to-earnings ratio of 25.13, a PEG ratio of 2.22 and a beta of 0.79. Medtronic plc has a 12 month low of $75.96 and a 12 month high of $96.25. The company has a quick ratio of 1.39, a current ratio of 1.90 and a debt-to-equity ratio of 0.48. The firm's fifty day simple moving average is $89.71 and its two-hundred day simple moving average is $87.63.

Medtronic (NYSE:MDT - Get Free Report) last announced its earnings results on Tuesday, February 18th. The medical technology company reported $1.39 earnings per share for the quarter, topping analysts' consensus estimates of $1.36 by $0.03. The business had revenue of $8.29 billion during the quarter, compared to the consensus estimate of $8.33 billion. Medtronic had a net margin of 12.83% and a return on equity of 14.07%. Analysts forecast that Medtronic plc will post 5.46 EPS for the current year.

Medtronic Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, April 11th. Investors of record on Friday, March 28th were paid a dividend of $0.70 per share. The ex-dividend date of this dividend was Friday, March 28th. This represents a $2.80 annualized dividend and a yield of 3.39%. Medtronic's dividend payout ratio is currently 85.11%.

Insiders Place Their Bets

In other Medtronic news, EVP Brett A. Wall sold 12,437 shares of the firm's stock in a transaction on Friday, January 24th. The shares were 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 in the company, valued at approximately $3,688,110. This trade represents a 23.28 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.20% of the stock is currently owned by corporate insiders.

Medtronic Company 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.