Prosperity Consulting Group LLC Sells 3,735 Shares of Medtronic plc (NYSE:MDT)

Prosperity Consulting Group LLC reduced its stake in Medtronic plc (NYSE:MDT - Free Report) by 15.9% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 19,743 shares of the medical technology company's stock after selling 3,735 shares during the period. Prosperity Consulting Group LLC's holdings in Medtronic were worth $1,577,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. Oxford Asset Management LLP lifted its stake in shares of Medtronic by 70.1% in the 4th quarter. Oxford Asset Management LLP now owns 7,442 shares of the medical technology company's stock valued at $594,000 after purchasing an additional 3,068 shares during the period. Boothbay Fund Management LLC increased its holdings in shares of Medtronic by 2,439.1% during the fourth quarter. Boothbay Fund Management LLC now owns 77,571 shares of the medical technology company's stock valued at $6,196,000 after acquiring an additional 74,516 shares in the last quarter. Capital Analysts LLC increased its stake in Medtronic by 2.7% during the 4th quarter. Capital Analysts LLC now owns 121,300 shares of the medical technology company's stock valued at $9,690,000 after purchasing an additional 3,180 shares in the last quarter. New Vernon Investment Management LLC raised its holdings in Medtronic by 304.9% in the fourth quarter. New Vernon Investment Management LLC now owns 29,613 shares of the medical technology company's stock worth $2,425,000 after buying an additional 22,300 shares during the last quarter. Finally, Cheviot Value Management LLC lifted its stake in shares of Medtronic by 3.4% in the fourth quarter. Cheviot Value Management LLC now owns 86,944 shares of the medical technology company's stock worth $6,945,000 after buying an additional 2,885 shares in the last quarter. 82.06% of the stock is currently owned by hedge funds and other institutional investors.

Medtronic Stock Down 0.1 %

NYSE MDT opened at $84.19 on Friday. The company has a market capitalization of $107.98 billion, a P/E ratio of 25.59, a price-to-earnings-growth ratio of 2.22 and a beta of 0.79. Medtronic plc has a 52 week low of $75.96 and a 52 week high of $96.25. The stock's 50-day moving average price is $88.14 and its 200-day moving average price is $87.26. 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 earnings results 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 company had revenue of $8.29 billion for the quarter, compared to analysts' expectations of $8.33 billion. On average, equities research analysts predict that Medtronic plc will post 5.46 earnings per share for the current year.

Medtronic Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, April 11th. Investors of record on Friday, March 28th were paid a dividend of $0.70 per share. This represents a $2.80 annualized dividend and a yield of 3.33%. The ex-dividend date was Friday, March 28th. Medtronic's dividend payout ratio (DPR) is presently 85.11%.

Analyst Ratings Changes

Several analysts have commented on the company. UBS Group increased their target price on Medtronic from $85.00 to $95.00 and gave the company a "neutral" rating in a research note on Wednesday, February 19th. Robert W. Baird lifted their price target on shares of Medtronic from $90.00 to $91.00 and gave the stock a "neutral" rating in a research note on Wednesday, February 19th. Royal Bank of Canada restated an "outperform" rating and set a $105.00 price objective on shares of Medtronic in a research report on Wednesday, February 19th. Truist Financial cut their target price on shares of Medtronic from $93.00 to $90.00 and set a "hold" rating for the company in a research report on Friday, April 11th. Finally, Citigroup upgraded Medtronic from a "neutral" rating to a "buy" rating and raised their price target for the stock from $92.00 to $107.00 in a research note on Tuesday, March 4th. One analyst has rated the stock with a sell rating, eight have assigned a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, Medtronic has an average rating of "Hold" and a consensus price target of $96.14.

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.

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