Arlington Partners LLC Decreases Stock Position in Medtronic plc (NYSE:MDT)

Arlington Partners LLC lowered its position in shares of Medtronic plc (NYSE:MDT - Free Report) by 20.8% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 38,959 shares of the medical technology company's stock after selling 10,232 shares during the period. Arlington Partners LLC's holdings in Medtronic were worth $3,112,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Fortitude Family Office LLC purchased a new position in Medtronic during the 3rd quarter valued at about $27,000. Darwin Wealth Management LLC bought a new position in shares of Medtronic during the third quarter valued at approximately $27,000. Highline Wealth Partners LLC purchased a new position in Medtronic during the third quarter valued at approximately $27,000. J. Stern & Co. LLP bought a new position in Medtronic in the third quarter worth approximately $30,000. Finally, Stephens Consulting LLC lifted its holdings in Medtronic by 145.7% during the fourth quarter. Stephens Consulting LLC now owns 344 shares of the medical technology company's stock worth $27,000 after buying an additional 204 shares during the period. 82.06% of the stock is currently owned by institutional investors.

Insider Activity at Medtronic

In other Medtronic news, EVP Brett A. Wall sold 12,437 shares of the 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 transaction, the executive vice president now owns 40,979 shares in the company, valued at approximately $3,688,110. This represents a 23.28 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 0.20% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on MDT shares. Barclays lifted their price target on Medtronic from $105.00 to $109.00 and gave the company an "overweight" rating in a report on Tuesday, November 26th. Wells Fargo & Company reduced their target price on shares of Medtronic from $106.00 to $98.00 and set an "overweight" rating for the company in a report on Wednesday, November 20th. JPMorgan Chase & Co. lowered their price target on shares of Medtronic from $99.00 to $96.00 and set a "neutral" rating on the stock in a report on Friday, November 15th. Truist Financial decreased 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. Finally, Robert W. Baird cut their price target on shares of Medtronic from $96.00 to $93.00 and set a "neutral" rating on the stock in a report on Wednesday, November 20th. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating, six have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock presently has an average rating of "Hold" and a consensus price target of $95.00.

Medtronic Stock Performance

NYSE:MDT traded up $0.42 during mid-day trading on Tuesday, hitting $91.26. The company's stock had a trading volume of 2,213,457 shares, compared to its average volume of 7,006,643. The business's fifty day moving average is $84.93 and its two-hundred day moving average is $86.56. The stock has a market cap of $117.02 billion, a price-to-earnings ratio of 27.91, a PEG ratio of 2.57 and a beta of 0.84. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.84 and a quick ratio of 1.39. Medtronic plc has a 1 year low of $75.96 and a 1 year high of $93.08.

Medtronic (NYSE:MDT - Get Free Report) last issued its earnings results on Tuesday, November 19th. The medical technology company reported $1.26 EPS for the quarter, topping analysts' consensus estimates of $1.25 by $0.01. The firm had revenue of $8.40 billion for the quarter, compared to the consensus estimate of $8.27 billion. Medtronic had a return on equity of 13.79% and a net margin of 13.00%. The company's revenue was up 5.2% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.25 earnings per share. Analysts anticipate that Medtronic plc will post 5.45 EPS for the current fiscal year.

Medtronic Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, January 10th. Investors of record on Friday, December 27th were paid a $0.70 dividend. This represents a $2.80 annualized dividend and a dividend yield of 3.07%. The ex-dividend date of this dividend was Friday, December 27th. Medtronic's dividend payout ratio is currently 85.63%.

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.