Medtronic plc (NYSE:MDT) Shares Sold by Lee Danner & Bass Inc.

Lee Danner & Bass Inc. trimmed its stake in Medtronic plc (NYSE:MDT - Free Report) by 2.8% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 122,455 shares of the medical technology company's stock after selling 3,465 shares during the quarter. Lee Danner & Bass Inc.'s holdings in Medtronic were worth $9,782,000 at the end of the most recent quarter.

Other institutional investors have also recently modified their holdings of the company. Guardian Wealth Management Inc. grew its holdings in shares of Medtronic by 0.9% in the third quarter. Guardian Wealth Management Inc. now owns 13,131 shares of the medical technology company's stock worth $1,182,000 after purchasing an additional 115 shares during the last quarter. MONECO Advisors LLC grew its stake in Medtronic by 1.8% in the 4th quarter. MONECO Advisors LLC now owns 6,408 shares of the medical technology company's stock worth $512,000 after acquiring an additional 115 shares in the last quarter. Hardy Reed LLC grew its stake in Medtronic by 4.4% in the 3rd quarter. Hardy Reed LLC now owns 2,743 shares of the medical technology company's stock worth $247,000 after acquiring an additional 116 shares in the last quarter. OLD Second National Bank of Aurora increased its position in shares of Medtronic by 0.3% during the fourth quarter. OLD Second National Bank of Aurora now owns 36,303 shares of the medical technology company's stock worth $2,900,000 after acquiring an additional 121 shares during the period. Finally, McKinley Carter Wealth Services Inc. raised its stake in shares of Medtronic by 0.7% during the fourth quarter. McKinley Carter Wealth Services Inc. now owns 19,677 shares of the medical technology company's stock valued at $1,572,000 after acquiring an additional 129 shares in the last quarter. 82.06% of the stock is owned by hedge funds and other institutional investors.

Remove Ads

Insider Transactions at Medtronic

In other news, EVP Brett A. Wall sold 12,437 shares of the firm's stock in a transaction dated 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 completion of the transaction, the executive vice president now directly owns 40,979 shares in the company, valued at $3,688,110. This trade represents a 23.28 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Insiders own 0.20% of the company's stock.

Medtronic Stock Down 0.2 %

MDT traded down $0.17 during trading on Monday, hitting $90.16. The stock had a trading volume of 5,420,324 shares, compared to its average volume of 6,104,009. The company has a debt-to-equity ratio of 0.48, a quick ratio of 1.39 and a current ratio of 1.90. The company has a market capitalization of $115.64 billion, a PE ratio of 27.40, a PEG ratio of 2.22 and a beta of 0.80. Medtronic plc has a twelve month low of $75.96 and a twelve month high of $96.25. The stock has a 50 day simple moving average of $90.84 and a two-hundred day simple moving average of $88.05.

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 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 business had revenue of $8.29 billion during the quarter, compared to the consensus estimate of $8.33 billion. On average, research analysts predict that Medtronic plc will post 5.46 earnings per share for the current year.

Medtronic Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, April 11th. Shareholders of record on Friday, March 28th will be paid a dividend of $0.70 per share. The ex-dividend date is Friday, March 28th. This represents a $2.80 dividend on an annualized basis and a yield of 3.11%. Medtronic's payout ratio is 85.11%.

Analyst Upgrades and Downgrades

MDT has been the topic of several research reports. Barclays raised their price objective on Medtronic from $105.00 to $109.00 and gave the stock an "overweight" rating in a report on Tuesday, November 26th. Royal Bank of Canada restated an "outperform" rating and set a $105.00 price target on shares of Medtronic in a research note on Wednesday, February 19th. UBS Group lifted their price objective on Medtronic from $85.00 to $95.00 and gave the company a "neutral" rating in a report on Wednesday, February 19th. Needham & Company LLC reiterated a "hold" rating on shares of Medtronic in a report on Wednesday, February 19th. Finally, Truist Financial cut their target price on shares of Medtronic from $93.00 to $89.00 and set a "hold" rating on the stock in a research report on Wednesday, December 18th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating, six have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of "Hold" and an average target price of $96.07.

About Medtronic

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.