Sanibel Captiva Trust Company Inc. lessened its stake in Medtronic plc (NYSE:MDT - Free Report) by 8.9% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 91,936 shares of the medical technology company's stock after selling 9,030 shares during the period. Sanibel Captiva Trust Company Inc.'s holdings in Medtronic were worth $7,344,000 at the end of the most recent reporting period.
Other institutional investors have also added to or reduced their stakes in the company. Fortitude Family Office LLC bought a new position in shares of Medtronic during the third quarter valued at $27,000. Highline Wealth Partners LLC acquired a new stake in Medtronic in the third quarter worth about $27,000. Darwin Wealth Management LLC bought a new stake in shares of Medtronic during the third quarter worth approximately $27,000. J. Stern & Co. LLP bought a new stake in shares of Medtronic during the 3rd quarter valued at $30,000. Finally, Kieckhefer Group LLC bought a new stake in Medtronic in the fourth quarter valued at about $40,000. 82.06% of the stock is owned by institutional investors and hedge funds.
Medtronic Price Performance
MDT stock traded up $1.07 during mid-day trading on Friday, hitting $88.23. The stock had a trading volume of 9,577,939 shares, compared to its average volume of 5,401,241. The company has a current ratio of 1.84, a quick ratio of 1.39 and a debt-to-equity ratio of 0.51. The firm has a market capitalization of $113.13 billion, a P/E ratio of 26.98, a P/E/G ratio of 2.28 and a beta of 0.83. The firm has a fifty day simple moving average of $83.64 and a 200 day simple moving average of $85.10. Medtronic plc has a 52 week low of $75.96 and a 52 week high of $92.68.
Medtronic (NYSE:MDT - Get Free Report) last released its earnings results on Tuesday, November 19th. The medical technology company reported $1.26 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.25 by $0.01. Medtronic had a return on equity of 13.79% and a net margin of 13.00%. The firm had revenue of $8.40 billion for the quarter, compared to analysts' expectations of $8.27 billion. During the same quarter in the previous year, the business posted $1.25 earnings per share. The business's revenue for the quarter was up 5.2% on a year-over-year basis. As a group, research analysts forecast that Medtronic plc will post 5.45 EPS for the current year.
Medtronic Dividend Announcement
The company also recently announced a quarterly dividend, which was paid on Friday, January 10th. Shareholders of record on Friday, December 27th were given a $0.70 dividend. The ex-dividend date was Friday, December 27th. This represents a $2.80 annualized dividend and a yield of 3.17%. Medtronic's dividend payout ratio is presently 85.63%.
Analyst Upgrades and Downgrades
Several equities research analysts have weighed in on MDT shares. JPMorgan Chase & Co. cut their target price on shares of Medtronic from $99.00 to $96.00 and set a "neutral" rating on the stock in a report on Friday, November 15th. Citigroup lifted their price objective on shares of Medtronic from $85.00 to $92.00 and gave the company a "neutral" rating in a report on Tuesday, October 1st. Evercore ISI upped their target price on Medtronic from $100.00 to $104.00 and gave the stock an "outperform" rating in a report on Tuesday, October 1st. Needham & Company LLC reiterated a "hold" rating on shares of Medtronic in a research note on Monday, November 18th. Finally, Truist Financial decreased their target price on Medtronic from $93.00 to $89.00 and set a "hold" rating on the stock in a report on Wednesday, December 18th. One equities research analyst has rated the stock with a sell rating, nine 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, the stock has an average rating of "Hold" and an average target price of $95.00.
Check Out Our Latest Stock Analysis on Medtronic
Insider Activity at Medtronic
In other Medtronic news, EVP Brett A. Wall sold 9,850 shares of the firm's stock in a transaction that occurred on Wednesday, January 8th. The shares were sold at an average price of $80.41, for a total transaction of $792,038.50. Following the completion of the transaction, the executive vice president now owns 40,708 shares in the company, valued at approximately $3,273,330.28. This trade represents a 19.48 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.20% of the stock is owned by company insiders.
About Medtronic
(
Free Report)
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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