Thrivent Financial for Lutherans Cuts Holdings in Medtronic plc (NYSE:MDT)

Thrivent Financial for Lutherans decreased its stake in Medtronic plc (NYSE:MDT - Free Report) by 46.4% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 703,796 shares of the medical technology company's stock after selling 608,994 shares during the period. Thrivent Financial for Lutherans owned about 0.05% of Medtronic worth $56,727,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Mainstream Capital Management LLC bought a new position in shares of Medtronic during the fourth quarter valued at $26,000. Darwin Wealth Management LLC bought a new position in shares of Medtronic during the third quarter valued at $27,000. Stephens Consulting LLC raised its stake in shares of Medtronic by 145.7% during the fourth 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. Rakuten Securities Inc. raised its stake in shares of Medtronic by 753.8% during the fourth 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. Finally, J. Stern & Co. LLP bought a new position in shares of Medtronic during the third quarter valued at $30,000. Institutional investors own 82.06% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on MDT shares. UBS Group raised their price target 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. Truist Financial dropped their price target on shares of Medtronic from $93.00 to $89.00 and set a "hold" rating for the company in a research note on Wednesday, December 18th. Robert W. Baird increased their price objective on shares of Medtronic from $90.00 to $91.00 and gave the stock a "neutral" rating in a research report on Wednesday, February 19th. Royal Bank of Canada reiterated an "outperform" rating and set a $105.00 price objective on shares of Medtronic in a research report on Wednesday, February 19th. Finally, Citigroup upgraded shares of Medtronic from a "neutral" rating to a "buy" rating and increased their price objective for the stock from $92.00 to $107.00 in a research report on Tuesday, March 4th. 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 given a strong buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of "Hold" and an average price target of $96.07.

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Insider Activity

In other news, EVP Brett A. Wall sold 12,437 shares of Medtronic stock in a transaction dated Friday, January 24th. The shares were sold at an average price of $90.00, for a total transaction 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 filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 0.20% of the company's stock.

Medtronic Stock Down 0.9 %

NYSE:MDT traded down $0.85 during trading hours on Friday, reaching $90.37. The company had a trading volume of 14,027,607 shares, compared to its average volume of 6,106,756. The company has a quick ratio of 1.39, a current ratio of 1.90 and a debt-to-equity ratio of 0.48. The firm has a market cap of $115.90 billion, a price-to-earnings ratio of 27.47, a P/E/G ratio of 2.22 and a beta of 0.80. The business's 50-day simple moving average is $90.67 and its two-hundred day simple moving average is $88.07. Medtronic plc has a twelve month low of $75.96 and a twelve month high of $96.25.

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 analysts' consensus estimates of $1.36 by $0.03. The business had revenue of $8.29 billion during the quarter, compared to analysts' expectations of $8.33 billion. Medtronic had a net margin of 12.83% and a return on equity of 14.07%. On average, equities analysts expect that Medtronic plc will post 5.46 earnings per share for the current year.

Medtronic Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, April 11th. Stockholders of record on Friday, March 28th will be issued a dividend of $0.70 per share. This represents a $2.80 dividend on an annualized basis and a dividend yield of 3.10%. The ex-dividend date is Friday, March 28th. Medtronic's dividend payout ratio is currently 85.11%.

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.