Fernwood Investment Management LLC Has $851,000 Stock Position in Medtronic plc (NYSE:MDT)

Fernwood Investment Management LLC trimmed its holdings in Medtronic plc (NYSE:MDT - Free Report) by 39.7% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 10,650 shares of the medical technology company's stock after selling 7,000 shares during the quarter. Fernwood Investment Management LLC's holdings in Medtronic were worth $851,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in the stock. Mainstream Capital Management LLC bought a new position in Medtronic in the fourth quarter valued at approximately $26,000. Stephens Consulting LLC boosted its position in shares of Medtronic by 145.7% in 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 last quarter. Rakuten Securities Inc. grew its stake in shares of Medtronic by 753.8% during the fourth quarter. Rakuten Securities Inc. now owns 333 shares of the medical technology company's stock worth $27,000 after purchasing an additional 294 shares during the period. Fiduciary Advisors Inc. bought a new stake in Medtronic in the fourth quarter valued at about $36,000. Finally, Kieckhefer Group LLC bought a new position in Medtronic during the fourth quarter worth about $40,000. Institutional investors own 82.06% of the company's stock.

Medtronic Stock Up 0.2 %

Shares of NYSE MDT traded up $0.15 during midday trading on Friday, reaching $82.69. The company's stock had a trading volume of 8,011,993 shares, compared to its average volume of 6,683,754. The stock has a 50 day simple moving average of $89.71 and a 200-day simple moving average of $87.63. The company has a current ratio of 1.90, a quick ratio of 1.39 and a debt-to-equity ratio of 0.48. 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 fifty-two week low of $75.96 and a fifty-two week high of $96.25.

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Medtronic (NYSE:MDT - Get Free Report) last issued its quarterly earnings results on Tuesday, February 18th. The medical technology company reported $1.39 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.36 by $0.03. The firm had revenue of $8.29 billion for 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%. Equities research analysts predict that Medtronic plc will post 5.46 earnings per share for the current year.

Medtronic Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, April 11th. Stockholders of record on Friday, March 28th were issued a $0.70 dividend. This represents a $2.80 annualized dividend and a dividend yield of 3.39%. The ex-dividend date of this dividend was Friday, March 28th. Medtronic's payout ratio is presently 85.11%.

Insider Activity at Medtronic

In other news, EVP Brett A. Wall sold 12,437 shares of the business's stock in a transaction dated Friday, January 24th. The shares were sold at an average price of $90.00, for a total transaction of $1,119,330.00. Following the transaction, the executive vice president now directly owns 40,979 shares in the company, valued at $3,688,110. The trade was a 23.28 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.20% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on MDT shares. Royal Bank of Canada reaffirmed an "outperform" rating and issued a $105.00 price target on shares of Medtronic in a research note on Wednesday, February 19th. UBS Group increased 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. Truist Financial decreased their price target on shares of Medtronic from $93.00 to $90.00 and set a "hold" rating for the company in a report on Friday. Needham & Company LLC reaffirmed a "hold" rating on shares of Medtronic in a research note on Wednesday, February 19th. Finally, Robert W. Baird boosted their target price 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 given a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, Medtronic presently has a consensus rating of "Hold" and an average target price of $96.14.

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.