Haverford Trust Co lessened its position in shares of Medtronic plc (NYSE:MDT - Free Report) by 10.1% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 1,005,191 shares of the medical technology company's stock after selling 112,399 shares during the quarter. Haverford Trust Co owned about 0.08% of Medtronic worth $80,295,000 as of its most recent SEC filing.
Several other institutional investors also recently added to or reduced their stakes in the company. Mainstream Capital Management LLC purchased a new stake in shares of Medtronic during the fourth quarter worth approximately $26,000. Stephens Consulting LLC raised its position in Medtronic by 145.7% in the fourth quarter. Stephens Consulting LLC now owns 344 shares of the medical technology company's stock worth $27,000 after acquiring an additional 204 shares in the last quarter. Rakuten Securities Inc. lifted its stake in shares of Medtronic by 753.8% in the fourth quarter. Rakuten Securities Inc. now owns 333 shares of the medical technology company's stock valued at $27,000 after purchasing an additional 294 shares during the period. J. Stern & Co. LLP acquired a new position in Medtronic during the third quarter worth about $30,000. Finally, Fiduciary Advisors Inc. acquired a new stake in shares of Medtronic in the 4th quarter worth approximately $36,000. Institutional investors and hedge funds own 82.06% of the company's stock.
Wall Street Analyst Weigh In
A number of equities analysts have issued reports on the stock. Barclays lifted their target price on shares of Medtronic from $105.00 to $109.00 and gave the stock an "overweight" rating in a research report on Tuesday, November 26th. Needham & Company LLC reissued a "hold" rating on shares of Medtronic in a research report on Wednesday, February 19th. Royal Bank of Canada reiterated an "outperform" rating and set a $105.00 target price on shares of Medtronic in a research report on Wednesday, February 19th. UBS Group lifted their price target on shares of Medtronic from $85.00 to $95.00 and gave the company a "neutral" rating in a report on Wednesday, February 19th. Finally, 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. One analyst has rated the stock with a sell rating, eight have issued a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat, Medtronic currently has a consensus rating of "Hold" and a consensus price target of $96.07.
Read Our Latest Stock Analysis on Medtronic
Medtronic Trading Down 0.2 %
Medtronic stock traded down $0.20 during mid-day trading on Wednesday, hitting $88.39. 2,779,743 shares of the company's stock were exchanged, compared to its average volume of 6,101,829. The company's 50 day simple moving average is $90.90 and its 200-day simple moving average is $88.04. 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 has a market capitalization of $113.37 billion, a P/E ratio of 26.86, a PEG ratio of 2.22 and a beta of 0.80. Medtronic plc has a fifty-two week low of $75.96 and a fifty-two week high of $96.25.
Medtronic (NYSE:MDT - Get Free Report) last announced its earnings results on Tuesday, February 18th. The medical technology company reported $1.39 EPS for the quarter, topping the consensus estimate 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 net margin of 12.83% and a return on equity of 14.07%. On average, equities analysts anticipate that Medtronic plc will post 5.46 earnings per share for the current year.
Medtronic Announces Dividend
The company also recently announced a quarterly dividend, which will be paid on Friday, April 11th. Investors of record on Friday, March 28th will be given a $0.70 dividend. This represents a $2.80 dividend on an annualized basis and a yield of 3.17%. The ex-dividend date is Friday, March 28th. Medtronic's dividend payout ratio is presently 85.11%.
Insider Buying and Selling at Medtronic
In other 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 sale, the executive vice president now owns 40,979 shares in the company, valued at $3,688,110. This represents a 23.28 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. Company insiders own 0.20% of the company's stock.
About Medtronic
(
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.
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