Medtronic plc (NYSE:MDT) Shares Sold by Johnson Financial Group Inc.

Johnson Financial Group Inc. cut its holdings in Medtronic plc (NYSE:MDT - Free Report) by 11.4% in the 4th quarter, according to its most recent 13F filing with the SEC. The fund owned 28,364 shares of the medical technology company's stock after selling 3,660 shares during the period. Johnson Financial Group Inc.'s holdings in Medtronic were worth $2,266,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Mainstream Capital Management LLC acquired a new position in Medtronic in the 4th quarter valued at $26,000. Rakuten Securities Inc. raised 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 valued at $27,000 after acquiring an additional 294 shares during the last quarter. Stephens Consulting LLC raised its holdings in Medtronic by 145.7% in the 4th quarter. Stephens Consulting LLC now owns 344 shares of the medical technology company's stock valued at $27,000 after acquiring an additional 204 shares during the last quarter. Fiduciary Advisors Inc. acquired a new position in Medtronic in the 4th quarter valued at $36,000. Finally, Chelsea Counsel Co. acquired a new position in Medtronic in the 3rd quarter valued at $45,000. 82.06% of the stock is currently owned by institutional investors and hedge funds.

Medtronic Stock Down 0.2 %

MDT stock traded down $0.18 during midday trading on Monday, hitting $83.98. 4,513,345 shares of the company's stock were exchanged, compared to its average volume of 6,676,670. The company has a current ratio of 1.90, a quick ratio of 1.39 and a debt-to-equity ratio of 0.48. Medtronic plc has a 12-month low of $75.96 and a 12-month high of $96.25. The firm has a 50 day moving average price of $88.08 and a 200-day moving average price of $87.21. The stock has a market capitalization of $107.71 billion, a price-to-earnings ratio of 25.53, a price-to-earnings-growth ratio of 2.22 and a beta of 0.79.

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

Medtronic Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, April 11th. Shareholders of record on Friday, March 28th were issued 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 3.33%. Medtronic's dividend payout ratio is presently 85.11%.

Wall Street Analysts Forecast Growth

MDT has been the subject of several research reports. Needham & Company LLC reissued 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 boosted their price objective for the company from $92.00 to $107.00 in a research note on Tuesday, March 4th. Royal Bank of Canada reissued an "outperform" rating and set a $105.00 price objective on shares of Medtronic in a research note on Wednesday, February 19th. UBS Group boosted their price objective on shares of Medtronic from $85.00 to $95.00 and gave the company a "neutral" rating in a research note on Wednesday, February 19th. Finally, Truist Financial lowered their price objective on shares of Medtronic from $93.00 to $90.00 and set a "hold" rating for the company in a research note on Friday, April 11th. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, Medtronic currently has an average rating of "Hold" and an average price target of $96.14.

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.