Longview Partners Guernsey LTD Sells 295,844 Shares of Medtronic plc (NYSE:MDT)

Longview Partners Guernsey LTD trimmed its stake in Medtronic plc (NYSE:MDT - Free Report) by 5.1% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 5,525,810 shares of the medical technology company's stock after selling 295,844 shares during the quarter. Medtronic comprises about 3.3% of Longview Partners Guernsey LTD's holdings, making the stock its 21st biggest position. Longview Partners Guernsey LTD owned 0.43% of Medtronic worth $441,402,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also recently made changes to their positions in MDT. Mainstream Capital Management LLC bought a new stake in Medtronic during the 4th quarter worth approximately $26,000. Stephens Consulting LLC lifted its position in shares of Medtronic by 145.7% during the 4th quarter. Stephens Consulting LLC now owns 344 shares of the medical technology company's stock worth $27,000 after buying an additional 204 shares in the last quarter. Rakuten Securities Inc. lifted its holdings in Medtronic by 753.8% during the fourth quarter. Rakuten Securities Inc. now owns 333 shares of the medical technology company's stock worth $27,000 after acquiring an additional 294 shares during the period. Fiduciary Advisors Inc. purchased a new stake in shares of Medtronic during the 4th quarter valued at $36,000. Finally, Kieckhefer Group LLC bought a new stake in shares of Medtronic during the 4th quarter worth $40,000. Institutional investors and hedge funds own 82.06% of the company's stock.

Medtronic Price Performance

Shares of Medtronic stock traded up $1.20 on Tuesday, hitting $83.00. 1,271,159 shares of the company traded hands, compared to its average volume of 6,647,329. The firm's 50-day simple moving average is $88.72 and its 200 day simple moving average is $87.37. Medtronic plc has a 12-month low of $75.96 and a 12-month high of $96.25. The company has a current ratio of 1.90, a quick ratio of 1.39 and a debt-to-equity ratio of 0.48. The company has a market cap of $106.45 billion, a P/E ratio of 25.30, a P/E/G ratio of 2.22 and a beta of 0.79.

Medtronic (NYSE:MDT - Get Free Report) last posted its quarterly 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. Medtronic had a net margin of 12.83% and a return on equity of 14.07%. The firm had revenue of $8.29 billion for the quarter, compared to the consensus estimate of $8.33 billion. Analysts expect that Medtronic plc will post 5.46 earnings per share for the current fiscal year.

Medtronic Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, April 11th. Investors of record on Friday, March 28th were paid a $0.70 dividend. This represents a $2.80 annualized dividend and a dividend yield of 3.37%. The ex-dividend date of this dividend was Friday, March 28th. Medtronic's payout ratio is 85.11%.

Insider Buying and Selling at Medtronic

In other 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 sale, the executive vice president now directly owns 40,979 shares in the company, valued at approximately $3,688,110. This trade represents a 23.28 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.20% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on MDT. Truist Financial reduced their target price on shares of Medtronic from $93.00 to $90.00 and set a "hold" rating for the company in a research report on Friday, April 11th. UBS Group lifted their target price 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. Citigroup upgraded shares of Medtronic from a "neutral" rating to a "buy" rating and upped their price target for the company from $92.00 to $107.00 in a research note on Tuesday, March 4th. Needham & Company LLC reissued a "hold" rating on shares of Medtronic in a report on Wednesday, February 19th. Finally, Robert W. Baird lifted their price target on Medtronic from $90.00 to $91.00 and gave the company a "neutral" rating in a research report on Wednesday, February 19th. One research analyst has rated the stock with a sell rating, eight have assigned 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, Medtronic currently has an average rating of "Hold" and a consensus target price of $96.14.

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.