Motley Fool Wealth Management LLC Lowers Holdings in Medtronic plc (NYSE:MDT)

Motley Fool Wealth Management LLC lessened its position in shares of Medtronic plc (NYSE:MDT - Free Report) by 11.0% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 76,813 shares of the medical technology company's stock after selling 9,484 shares during the quarter. Motley Fool Wealth Management LLC's holdings in Medtronic were worth $6,204,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of MDT. Raymond James Financial Inc. bought a new stake in Medtronic during the fourth quarter valued at about $852,732,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in shares of Medtronic by 436.7% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 7,343,385 shares of the medical technology company's stock valued at $661,125,000 after buying an additional 5,975,110 shares in the last quarter. Van ECK Associates Corp grew its stake in shares of Medtronic by 2,043.4% during the 4th quarter. Van ECK Associates Corp now owns 2,598,150 shares of the medical technology company's stock valued at $207,540,000 after acquiring an additional 2,476,935 shares during the period. Boston Partners increased its holdings in Medtronic by 117.4% in the 4th quarter. Boston Partners now owns 3,102,605 shares of the medical technology company's stock worth $248,311,000 after acquiring an additional 1,675,588 shares in the last quarter. Finally, Janus Henderson Group PLC raised its stake in Medtronic by 58.4% during the 3rd quarter. Janus Henderson Group PLC now owns 3,850,914 shares of the medical technology company's stock worth $346,705,000 after acquiring an additional 1,420,263 shares during the period. Institutional investors own 82.06% of the company's stock.

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Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on the stock. Citigroup upgraded shares of Medtronic from a "neutral" rating to a "buy" rating and upped their price target for the stock from $92.00 to $107.00 in a research report on Tuesday, March 4th. Needham & Company LLC reaffirmed a "hold" rating on shares of Medtronic in a report on Wednesday, February 19th. UBS Group raised their price target on Medtronic from $85.00 to $95.00 and gave the company a "neutral" rating in a report on Wednesday, February 19th. Truist Financial dropped their price objective on Medtronic from $93.00 to $89.00 and set a "hold" rating for the company in a research note on Wednesday, December 18th. Finally, Royal Bank of Canada reiterated an "outperform" rating and set a $105.00 target price on shares of Medtronic 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 given a strong buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of "Hold" and an average target price of $96.07.

Insider Buying and Selling

In other Medtronic news, EVP Brett A. Wall sold 12,437 shares of the company's stock in a transaction 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 transaction, the executive vice president now owns 40,979 shares of the company's stock, valued at $3,688,110. This represents a 23.28 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. 0.20% of the stock is currently owned by corporate insiders.

Medtronic Trading Down 1.5 %

Shares of Medtronic stock traded down $1.36 on Friday, reaching $87.62. The company had a trading volume of 6,320,123 shares, compared to its average volume of 6,561,213. The firm has a market cap of $112.38 billion, a price-to-earnings ratio of 26.63, a P/E/G ratio of 2.22 and a beta of 0.80. The company has a debt-to-equity ratio of 0.48, a current ratio of 1.90 and a quick ratio of 1.39. The firm's 50-day moving average price is $90.98 and its two-hundred day moving average price is $88.01. Medtronic plc has a 1 year low of $75.96 and a 1 year high of $96.25.

Medtronic (NYSE:MDT - Get Free Report) last posted its quarterly earnings data 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 company had revenue of $8.29 billion during the quarter, compared to analyst estimates of $8.33 billion. As a group, research analysts predict that Medtronic plc will post 5.46 earnings per share for the current fiscal year.

Medtronic Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, April 11th. Investors of record on Friday, March 28th will be issued a dividend of $0.70 per share. The ex-dividend date of this dividend is Friday, March 28th. This represents a $2.80 annualized dividend and a yield of 3.20%. Medtronic's payout ratio is 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.