Medtronic plc (NYSE:MDT) Shares Sold by SG Americas Securities LLC

SG Americas Securities LLC lowered its stake in shares of Medtronic plc (NYSE:MDT - Free Report) by 94.3% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 1,508 shares of the medical technology company's stock after selling 24,952 shares during the period. SG Americas Securities LLC's holdings in Medtronic were worth $120,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in MDT. Copley Financial Group Inc. acquired a new position in Medtronic in the third quarter valued at approximately $694,000. Olstein Capital Management L.P. lifted its stake in shares of Medtronic by 19.2% in the 3rd quarter. Olstein Capital Management L.P. now owns 87,000 shares of the medical technology company's stock valued at $7,833,000 after purchasing an additional 14,000 shares during the last quarter. Franklin Street Advisors Inc. NC lifted its stake in shares of Medtronic by 32.6% in the 4th quarter. Franklin Street Advisors Inc. NC now owns 73,517 shares of the medical technology company's stock valued at $5,873,000 after purchasing an additional 18,057 shares during the last quarter. Y Intercept Hong Kong Ltd grew its holdings in shares of Medtronic by 322.6% during the 3rd quarter. Y Intercept Hong Kong Ltd now owns 73,593 shares of the medical technology company's stock worth $6,626,000 after purchasing an additional 56,178 shares during the period. Finally, Czech National Bank increased its position in shares of Medtronic by 6.4% during the 4th quarter. Czech National Bank now owns 278,065 shares of the medical technology company's stock worth $22,212,000 after purchasing an additional 16,786 shares during the last quarter. 82.06% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research firms have commented on MDT. Sanford C. Bernstein upped their target price on shares of Medtronic from $96.00 to $97.00 and gave the company an "outperform" rating in a research report on Wednesday, November 20th. Truist Financial decreased their price objective on shares of Medtronic from $93.00 to $89.00 and set a "hold" rating on the stock in a report on Wednesday, December 18th. Barclays lifted their target price on shares of Medtronic from $105.00 to $109.00 and gave the company an "overweight" rating in a report on Tuesday, November 26th. JPMorgan Chase & Co. decreased their price target on Medtronic from $99.00 to $96.00 and set a "neutral" rating on the stock in a research note on Friday, November 15th. Finally, Robert W. Baird dropped their price objective on Medtronic from $96.00 to $93.00 and set a "neutral" rating for the company in a research note on Wednesday, November 20th. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat, Medtronic currently has an average rating of "Hold" and a consensus target price of $95.00.

Medtronic Stock Up 0.2 %

MDT stock traded up $0.15 during midday trading on Wednesday, reaching $91.35. 7,053,193 shares of the company were exchanged, compared to its average volume of 7,167,588. The stock's 50-day simple moving average is $85.04 and its 200 day simple moving average is $86.65. Medtronic plc has a 1-year low of $75.96 and a 1-year high of $93.08. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.39 and a current ratio of 1.84. The company has a market cap of $117.14 billion, a price-to-earnings ratio of 27.94, a price-to-earnings-growth ratio of 2.57 and a beta of 0.84.

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

Medtronic Announces Dividend

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

Insider Activity at Medtronic

In related news, EVP Brett A. Wall sold 9,850 shares of the company's stock in a transaction that occurred on Wednesday, January 8th. The stock was sold at an average price of $80.41, for a total value of $792,038.50. Following the sale, the executive vice president now owns 40,708 shares in the company, valued at $3,273,330.28. This represents a 19.48 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. 0.20% of the stock is owned by insiders.

Medtronic Company 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.