Medtronic plc (NYSE:MDT) Stake Lessened by Reynders McVeigh Capital Management LLC

Reynders McVeigh Capital Management LLC decreased its position in Medtronic plc (NYSE:MDT - Free Report) by 4.1% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 211,085 shares of the medical technology company's stock after selling 9,066 shares during the quarter. Reynders McVeigh Capital Management LLC's holdings in Medtronic were worth $16,861,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in the company. Mainstream Capital Management LLC bought a new position in Medtronic in the fourth quarter worth about $26,000. Stephens Consulting LLC raised its position in shares of Medtronic by 145.7% during the 4th quarter. Stephens Consulting LLC now owns 344 shares of the medical technology company's stock worth $27,000 after purchasing an additional 204 shares during the period. Rakuten Securities Inc. lifted its holdings in shares of Medtronic by 753.8% in the 4th quarter. Rakuten Securities Inc. now owns 333 shares of the medical technology company's stock worth $27,000 after purchasing an additional 294 shares during the last quarter. Fiduciary Advisors Inc. acquired a new position in Medtronic during the 4th quarter valued at approximately $36,000. Finally, Kieckhefer Group LLC acquired a new position in Medtronic during the 4th quarter valued at approximately $40,000. 82.06% of the stock is currently owned by institutional investors.

Insider Activity

In other Medtronic news, EVP Brett A. Wall sold 12,437 shares of the business's stock in a transaction dated 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 sale, the executive vice president now owns 40,979 shares in the company, valued at approximately $3,688,110. The trade was a 23.28 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.20% of the company's stock.

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Medtronic Price Performance

MDT stock traded down $1.96 during trading hours on Tuesday, hitting $82.26. 5,524,849 shares of the stock traded hands, compared to its average volume of 6,672,764. The stock has a 50-day simple moving average of $89.39 and a 200 day simple moving average of $87.56. The company has a market cap of $105.51 billion, a P/E ratio of 25.00, a P/E/G ratio of 2.22 and a beta of 0.79. Medtronic plc has a one year low of $75.96 and a one year high of $96.25. The company has a current ratio of 1.90, a quick ratio of 1.39 and a debt-to-equity ratio of 0.48.

Medtronic (NYSE:MDT - Get Free Report) last posted its quarterly earnings data on Tuesday, February 18th. The medical technology company reported $1.39 earnings per share 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 company had revenue of $8.29 billion during the quarter, compared to analyst estimates of $8.33 billion. Equities analysts forecast that Medtronic plc will post 5.46 earnings per share for the current year.

Medtronic Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, April 11th. Shareholders of record on Friday, March 28th were issued a $0.70 dividend. The ex-dividend date was Friday, March 28th. This represents a $2.80 annualized dividend and a dividend yield of 3.40%. Medtronic's dividend payout ratio is currently 85.11%.

Analysts Set New Price Targets

Several brokerages have weighed in on MDT. Royal Bank of Canada reaffirmed an "outperform" rating and issued a $105.00 target price on shares of Medtronic in a research report on Wednesday, February 19th. Truist Financial dropped their price objective on shares of Medtronic from $93.00 to $90.00 and set a "hold" rating on the stock in a report on Friday. UBS Group boosted their target price on shares of Medtronic from $85.00 to $95.00 and gave the company a "neutral" rating in a research note on Wednesday, February 19th. Citigroup upgraded shares of Medtronic from a "neutral" rating to a "buy" rating and raised their price target for the company from $92.00 to $107.00 in a research note on Tuesday, March 4th. Finally, Needham & Company LLC reiterated a "hold" rating on shares of Medtronic in a research report on Wednesday, February 19th. 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 issued a strong buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of "Hold" and an average target price 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.