Ceredex Value Advisors LLC Has $28.52 Million Holdings in Medtronic plc (NYSE:MDT)

Ceredex Value Advisors LLC reduced its stake in Medtronic plc (NYSE:MDT - Free Report) by 14.3% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 357,014 shares of the medical technology company's stock after selling 59,712 shares during the period. Ceredex Value Advisors LLC's holdings in Medtronic were worth $28,518,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also added to or reduced their stakes in MDT. Finward Bancorp acquired a new position in Medtronic in the fourth quarter valued at about $451,000. Regal Investment Advisors LLC boosted its position in shares of Medtronic by 1.3% during the 4th quarter. Regal Investment Advisors LLC now owns 115,048 shares of the medical technology company's stock worth $9,190,000 after acquiring an additional 1,491 shares in the last quarter. United Capital Financial Advisors LLC increased its stake in Medtronic by 19.9% in the fourth quarter. United Capital Financial Advisors LLC now owns 464,436 shares of the medical technology company's stock valued at $37,099,000 after acquiring an additional 77,010 shares during the last quarter. GABELLI & Co INVESTMENT ADVISERS INC. acquired a new position in Medtronic during the fourth quarter valued at approximately $240,000. Finally, Dodge & Cox lifted its stake in Medtronic by 13.3% during the fourth quarter. Dodge & Cox now owns 7,661,125 shares of the medical technology company's stock worth $611,971,000 after purchasing an additional 897,635 shares during the last quarter. Institutional investors and hedge funds own 82.06% of the company's stock.

Medtronic Trading Down 0.1 %

MDT stock traded down $0.12 during midday trading on Friday, hitting $82.58. The stock had a trading volume of 5,937,486 shares, compared to its average volume of 6,674,143. 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 business has a fifty day moving average price of $88.91 and a two-hundred day moving average price of $87.42. Medtronic plc has a 1-year low of $75.96 and a 1-year high of $96.25. The firm has a market cap of $105.91 billion, a P/E ratio of 25.10, a price-to-earnings-growth ratio of 2.22 and a beta of 0.79.

Medtronic (NYSE:MDT - Get Free Report) last announced its earnings results on Tuesday, February 18th. The medical technology company reported $1.39 EPS for the quarter, beating the consensus estimate of $1.36 by $0.03. Medtronic had a return on equity of 14.07% and a net margin of 12.83%. The company had revenue of $8.29 billion for the quarter, compared to analyst estimates of $8.33 billion. On average, sell-side analysts predict that Medtronic plc will post 5.46 earnings per share for the current fiscal year.

Medtronic Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, April 11th. Investors of record on Friday, March 28th were given a dividend of $0.70 per share. The ex-dividend date of this dividend was Friday, March 28th. This represents a $2.80 dividend on an annualized basis and a dividend yield of 3.39%. Medtronic's payout ratio is presently 85.11%.

Insider Buying and Selling

In related news, EVP Brett A. Wall sold 12,437 shares of the company's 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 directly owns 40,979 shares of the company's stock, valued at approximately $3,688,110. This represents a 23.28 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.20% of the stock is owned by insiders.

Analyst Ratings Changes

MDT has been the topic of several recent analyst reports. 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 note on Wednesday, February 19th. Royal Bank of Canada reaffirmed an "outperform" rating and set a $105.00 price target on shares of Medtronic in a report on Wednesday, February 19th. UBS Group raised their target price on shares of Medtronic from $85.00 to $95.00 and gave the company a "neutral" rating in a research report on Wednesday, February 19th. Truist Financial lowered their price target on shares of Medtronic from $93.00 to $90.00 and set a "hold" rating for the company in a report on Friday, April 11th. Finally, Citigroup raised Medtronic from a "neutral" rating to a "buy" rating and raised their price objective for the company from $92.00 to $107.00 in a report on Tuesday, March 4th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat, the company presently has an average rating of "Hold" and an average target price of $96.14.

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.