Simplicity Wealth LLC Reduces Stock Holdings in Medtronic plc (NYSE:MDT)

Simplicity Wealth LLC reduced its position in shares of Medtronic plc (NYSE:MDT - Free Report) by 73.6% in the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 4,410 shares of the medical technology company's stock after selling 12,266 shares during the quarter. Simplicity Wealth LLC's holdings in Medtronic were worth $352,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also bought and sold shares of the company. Guardian Wealth Management Inc. increased its stake in Medtronic by 0.9% during the 3rd quarter. Guardian Wealth Management Inc. now owns 13,131 shares of the medical technology company's stock valued at $1,182,000 after purchasing an additional 115 shares in the last quarter. MONECO Advisors LLC boosted its holdings in shares of Medtronic by 1.8% during the 4th quarter. MONECO Advisors LLC now owns 6,408 shares of the medical technology company's stock valued at $512,000 after acquiring an additional 115 shares during the last quarter. First City Capital Management Inc. boosted its holdings in shares of Medtronic by 2.9% during the 3rd quarter. First City Capital Management Inc. now owns 4,123 shares of the medical technology company's stock valued at $371,000 after acquiring an additional 116 shares during the last quarter. Hardy Reed LLC boosted its holdings in shares of Medtronic by 4.4% during the 3rd quarter. Hardy Reed LLC now owns 2,743 shares of the medical technology company's stock valued at $247,000 after acquiring an additional 116 shares during the last quarter. Finally, OLD Second National Bank of Aurora boosted its holdings in shares of Medtronic by 0.3% during the 4th quarter. OLD Second National Bank of Aurora now owns 36,303 shares of the medical technology company's stock valued at $2,900,000 after acquiring an additional 121 shares during the last quarter. 82.06% of the stock is currently owned by institutional investors.

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Insider Buying and Selling

In related news, EVP Brett A. Wall sold 12,437 shares of the stock in a transaction on 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 of the company's stock, valued at $3,688,110. This trade represents a 23.28 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.20% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

MDT has been the topic of a number of research reports. UBS Group raised their price objective on shares of Medtronic from $85.00 to $95.00 and gave the stock a "neutral" rating in a report on Wednesday, February 19th. Royal Bank of Canada reissued an "outperform" rating and issued a $105.00 price objective on shares of Medtronic in a report on Wednesday, February 19th. Barclays raised their price objective on shares of Medtronic from $105.00 to $109.00 and gave the stock an "overweight" rating in a report on Tuesday, November 26th. Truist Financial dropped their price objective on shares of Medtronic from $93.00 to $89.00 and set a "hold" rating on the stock in a report on Wednesday, December 18th. Finally, JPMorgan Chase & Co. dropped their price objective 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. One research analyst has rated the stock with a sell rating, eight have given a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat, Medtronic has a consensus rating of "Hold" and an average price target of $96.07.

Medtronic Stock Down 2.1 %

Shares of Medtronic stock traded down $2.00 on Wednesday, reaching $91.28. 3,435,828 shares of the company were exchanged, compared to its average volume of 7,382,738. Medtronic plc has a 1-year low of $75.96 and a 1-year high of $96.25. The company has a market cap of $117.07 billion, a P/E ratio of 27.74, a price-to-earnings-growth 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 stock's 50 day moving average price is $88.89 and its 200-day moving average price is $87.88.

Medtronic (NYSE:MDT - Get Free Report) last announced its quarterly earnings results on Tuesday, February 18th. The medical technology company reported $1.39 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.36 by $0.03. Medtronic had a return on equity of 14.07% and a net margin of 12.83%. The firm had revenue of $8.29 billion during the quarter, compared to the consensus estimate of $8.33 billion. As a group, equities analysts forecast that Medtronic plc will post 5.46 EPS for the current year.

Medtronic Announces Dividend

The firm also recently disclosed 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. This represents a $2.80 dividend on an annualized basis and a yield of 3.07%. The ex-dividend date of this dividend is Friday, March 28th. Medtronic's dividend payout ratio is presently 85.11%.

Medtronic Company 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.