Hemenway Trust Co LLC lowered its stake in Medtronic plc (NYSE:MDT - Free Report) by 71.9% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 39,926 shares of the medical technology company's stock after selling 102,173 shares during the quarter. Hemenway Trust Co LLC's holdings in Medtronic were worth $3,189,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also recently bought and sold shares of the company. Morse Asset Management Inc acquired a new stake in Medtronic in the 3rd quarter valued at about $225,000. Royal London Asset Management Ltd. lifted its stake in Medtronic by 1.6% during the third quarter. Royal London Asset Management Ltd. now owns 561,578 shares of the medical technology company's stock valued at $50,559,000 after purchasing an additional 8,907 shares during the last quarter. Quadrature Capital Ltd bought a new stake in Medtronic during the third quarter worth approximately $252,000. Taika Capital LP acquired a new position in Medtronic in the third quarter worth approximately $1,493,000. Finally, Two Sigma Advisers LP increased its holdings in shares of Medtronic by 131.2% in the third quarter. Two Sigma Advisers LP now owns 333,220 shares of the medical technology company's stock valued at $30,000,000 after buying an additional 189,088 shares in the last quarter. Institutional investors own 82.06% of the company's stock.
Wall Street Analyst Weigh In
A number of brokerages recently issued reports on MDT. Truist Financial decreased their target price on Medtronic from $93.00 to $89.00 and set a "hold" rating on the stock in a report on Wednesday, December 18th. Needham & Company LLC reaffirmed a "hold" rating on shares of Medtronic in a research note on Wednesday, February 19th. Citigroup raised shares of Medtronic from a "neutral" rating to a "buy" rating and lifted their target price for the stock from $92.00 to $107.00 in a research report on Tuesday, March 4th. Royal Bank of Canada restated an "outperform" rating and set a $105.00 price target on shares of Medtronic in a report on Wednesday, February 19th. Finally, UBS Group raised their price objective on shares of Medtronic from $85.00 to $95.00 and gave the stock a "neutral" rating in a research note on Wednesday, February 19th. One analyst has rated the stock with a sell rating, eight have assigned a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of "Hold" and an average price target of $96.07.
View Our Latest Analysis on MDT
Insiders Place Their Bets
In other Medtronic news, EVP Brett A. Wall sold 12,437 shares of Medtronic stock in a transaction that occurred on 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 transaction, 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. Company insiders own 0.20% of the company's stock.
Medtronic Stock Down 1.0 %
Shares of NYSE MDT traded down $0.82 during trading hours on Wednesday, hitting $81.06. The stock had a trading volume of 2,777,515 shares, compared to its average volume of 6,623,796. The company has a market capitalization of $103.96 billion, a P/E ratio of 24.67, a P/E/G ratio of 2.22 and a beta of 0.79. The firm's 50-day moving average price is $90.28 and its two-hundred day moving average price is $87.79. The company has a debt-to-equity ratio of 0.48, a quick ratio of 1.39 and a current ratio of 1.90. Medtronic plc has a 52 week low of $75.96 and a 52 week high of $96.25.
Medtronic (NYSE:MDT - Get Free Report) last released its quarterly earnings results on Tuesday, February 18th. The medical technology company reported $1.39 earnings per share for the quarter, beating analysts' consensus estimates of $1.36 by $0.03. The business 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%. Analysts anticipate that Medtronic plc will post 5.46 EPS for the current fiscal 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 paid a $0.70 dividend. The ex-dividend date of this dividend is Friday, March 28th. This represents a $2.80 dividend on an annualized basis and a yield of 3.45%. Medtronic's payout ratio is presently 85.11%.
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.
Featured Articles
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
Looking for the next FAANG stock before everyone has heard about it? Enter your email address to see which stocks MarketBeat analysts think might become the next trillion dollar tech company.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
