Puzo Michael J Decreases Stake in Medtronic plc (NYSE:MDT)

Puzo Michael J decreased its stake in shares of Medtronic plc (NYSE:MDT - Free Report) by 63.0% during the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 13,051 shares of the medical technology company's stock after selling 22,243 shares during the period. Puzo Michael J's holdings in Medtronic were worth $1,043,000 as of its most recent SEC filing.

Several other large investors have also added to or reduced their stakes in MDT. Vanguard Group Inc. boosted its holdings in shares of Medtronic by 0.6% in the 4th quarter. Vanguard Group Inc. now owns 124,203,387 shares of the medical technology company's stock worth $9,921,367,000 after purchasing an additional 754,395 shares in the last quarter. State Street Corp raised its position in Medtronic by 0.9% in the 3rd quarter. State Street Corp now owns 60,731,367 shares of the medical technology company's stock worth $5,509,155,000 after purchasing an additional 520,027 shares during the period. Geode Capital Management LLC boosted its position in Medtronic by 2.2% during the fourth quarter. Geode Capital Management LLC now owns 27,056,217 shares of the medical technology company's stock valued at $2,155,085,000 after buying an additional 574,055 shares during the period. Norges Bank bought a new stake in shares of Medtronic in the 4th quarter valued at about $1,163,580,000. Finally, Raymond James Financial Inc. bought a new stake in Medtronic in the fourth quarter valued at approximately $852,732,000. Institutional investors own 82.06% of the company's stock.

Insider Buying and Selling at Medtronic

In related news, EVP Brett A. Wall sold 12,437 shares of the stock in a transaction that occurred on 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 sale, 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 ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Insiders own 0.20% of the company's stock.

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Analyst Ratings Changes

MDT has been the topic of a number of recent analyst reports. Royal Bank of Canada reissued an "outperform" rating and issued a $105.00 price target on shares of Medtronic in a report on Wednesday, February 19th. UBS Group boosted their price objective 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. Needham & Company LLC reissued a "hold" rating on shares of Medtronic in a research report on Wednesday, February 19th. Truist Financial decreased their price objective on Medtronic from $93.00 to $89.00 and set a "hold" rating for the company in a report on Wednesday, December 18th. Finally, Citigroup raised shares of Medtronic from a "neutral" rating to a "buy" rating and lifted their price target for the company from $92.00 to $107.00 in a research 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 issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of "Hold" and an average target price of $96.07.

Medtronic Price Performance

Shares of Medtronic stock traded down $0.15 during trading on Tuesday, reaching $83.00. 3,209,502 shares of the stock traded hands, compared to its average volume of 7,758,577. The business has a fifty day simple moving average of $90.68 and a two-hundred day simple moving average of $87.89. Medtronic plc has a 52-week low of $75.96 and a 52-week high of $96.25. The company has a market capitalization of $106.45 billion, a price-to-earnings ratio of 25.23, a P/E/G ratio of 2.22 and a beta of 0.79. The company has a debt-to-equity ratio of 0.48, a current ratio of 1.90 and a quick ratio of 1.39.

Medtronic (NYSE:MDT - Get Free Report) last announced its earnings results on Tuesday, February 18th. The medical technology company reported $1.39 earnings per share (EPS) for the quarter, beating 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 firm had revenue of $8.29 billion for the quarter, compared to analysts' expectations of $8.33 billion. Sell-side analysts expect that Medtronic plc will post 5.46 EPS for the current year.

Medtronic Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, April 11th. Shareholders of record on Friday, March 28th will be issued a $0.70 dividend. This represents a $2.80 annualized dividend and a dividend yield of 3.37%. The ex-dividend date is Friday, March 28th. Medtronic's dividend payout ratio is 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.