Medtronic plc (NYSE:MDT) is St. James Investment Company LLC's 8th Largest Position

St. James Investment Company LLC cut its holdings in shares of Medtronic plc (NYSE:MDT - Free Report) by 3.9% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 311,736 shares of the medical technology company's stock after selling 12,582 shares during the quarter. Medtronic accounts for 4.3% of St. James Investment Company LLC's holdings, making the stock its 8th largest position. St. James Investment Company LLC's holdings in Medtronic were worth $24,901,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in MDT. Norges Bank bought a new stake in shares of Medtronic during the 4th quarter worth approximately $1,163,580,000. Raymond James Financial Inc. acquired a new stake in Medtronic during the 4th quarter worth approximately $852,732,000. Beutel Goodman & Co Ltd. bought a new stake in shares of Medtronic in the fourth quarter worth $377,169,000. Van ECK Associates Corp lifted its stake in shares of Medtronic by 2,043.4% in the fourth quarter. Van ECK Associates Corp now owns 2,598,150 shares of the medical technology company's stock worth $207,540,000 after acquiring an additional 2,476,935 shares during the period. Finally, Boston Partners boosted its stake in shares of Medtronic by 117.4% in the 4th quarter. Boston Partners now owns 3,102,605 shares of the medical technology company's stock valued at $248,311,000 after purchasing an additional 1,675,588 shares during the last quarter. 82.06% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

MDT has been the topic of a number of research reports. Truist Financial dropped 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. Citigroup upgraded shares of Medtronic from a "neutral" rating to a "buy" rating and increased their price objective for the company from $92.00 to $107.00 in a research note on Tuesday, March 4th. Royal Bank of Canada restated an "outperform" rating and set a $105.00 price target on shares of Medtronic in a research report on Wednesday, February 19th. UBS Group raised their target price on Medtronic from $85.00 to $95.00 and gave the stock a "neutral" rating in a research report on Wednesday, February 19th. Finally, Robert W. Baird increased their target price on Medtronic from $90.00 to $91.00 and gave the stock a "neutral" rating in a research report on Wednesday, February 19th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of "Hold" and an average price target of $96.07.

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Insider Buying and Selling

In other Medtronic news, EVP Brett A. Wall sold 12,437 shares of Medtronic stock in a transaction on Friday, January 24th. The shares were 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 of the company's stock, valued at $3,688,110. This trade represents a 23.28 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. 0.20% of the stock is owned by insiders.

Medtronic Stock Down 1.5 %

Shares of NYSE MDT traded down $1.38 on Tuesday, reaching $88.48. 7,059,371 shares of the company's stock traded hands, compared to its average volume of 6,569,849. The business's 50 day simple moving average is $91.02 and its two-hundred day simple moving average is $87.99. Medtronic plc has a 12 month low of $75.96 and a 12 month high of $96.25. The company has a market cap of $113.48 billion, a price-to-earnings ratio of 26.89, a price-to-earnings-growth ratio of 2.22 and a beta of 0.80. The company has a quick ratio of 1.39, a current ratio of 1.90 and a debt-to-equity ratio of 0.48.

Medtronic (NYSE:MDT - Get Free Report) last released its quarterly earnings data on Tuesday, February 18th. The medical technology company reported $1.39 earnings per share for the quarter, beating analysts' consensus estimates of $1.36 by $0.03. Medtronic had a net margin of 12.83% and a return on equity of 14.07%. The business had revenue of $8.29 billion during the quarter, compared to analyst estimates of $8.33 billion. As a group, equities research analysts forecast that Medtronic plc will post 5.46 EPS for the current fiscal year.

Medtronic Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, April 11th. Investors of record on Friday, March 28th will be paid a dividend of $0.70 per share. This represents a $2.80 annualized dividend and a yield of 3.16%. The ex-dividend date is Friday, March 28th. Medtronic's dividend payout ratio (DPR) is presently 85.11%.

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.