TD Private Client Wealth LLC Cuts Stock Holdings in Medtronic plc (NYSE:MDT)

TD Private Client Wealth LLC decreased its stake in Medtronic plc (NYSE:MDT - Free Report) by 4.6% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 58,274 shares of the medical technology company's stock after selling 2,786 shares during the period. TD Private Client Wealth LLC's holdings in Medtronic were worth $4,655,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. Kiker Wealth Management LLC bought a new position in Medtronic during the fourth quarter valued at approximately $530,000. AllSquare Wealth Management LLC grew its holdings in shares of Medtronic by 24.6% during the 4th quarter. AllSquare Wealth Management LLC now owns 6,084 shares of the medical technology company's stock valued at $486,000 after purchasing an additional 1,200 shares during the last quarter. HUB Investment Partners LLC raised its position in Medtronic by 21.8% in the 4th quarter. HUB Investment Partners LLC now owns 17,160 shares of the medical technology company's stock worth $1,371,000 after purchasing an additional 3,074 shares during the period. Northwest & Ethical Investments L.P. boosted its position in Medtronic by 6.4% during the fourth quarter. Northwest & Ethical Investments L.P. now owns 22,722 shares of the medical technology company's stock valued at $1,815,000 after buying an additional 1,371 shares during the period. Finally, Lingohr Asset Management GmbH bought a new position in shares of Medtronic during the fourth quarter valued at about $1,072,000. 82.06% of the stock is owned by institutional investors.

Medtronic Stock Down 1.8 %

Shares of MDT stock traded down $1.63 during midday trading on Tuesday, reaching $88.50. 8,819,534 shares of the stock were exchanged, compared to its average volume of 6,102,713. Medtronic plc has a 1 year low of $75.96 and a 1 year high of $96.25. The firm has a market cap of $113.51 billion, a PE ratio of 26.90, a price-to-earnings-growth ratio of 2.22 and a beta of 0.80. The company's 50 day moving average is $90.84 and its two-hundred day moving average is $88.05. The company has a current ratio of 1.90, a quick ratio of 1.39 and a debt-to-equity ratio of 0.48.

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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 (EPS) for the quarter, topping 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 business had revenue of $8.29 billion during the quarter, compared to the consensus estimate of $8.33 billion. On average, equities research analysts predict that Medtronic plc will post 5.46 EPS for the current year.

Medtronic Dividend Announcement

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 paid a dividend of $0.70 per share. This represents a $2.80 annualized dividend and a yield of 3.16%. The ex-dividend date is Friday, March 28th. Medtronic's payout ratio is currently 85.11%.

Wall Street Analyst Weigh In

MDT has been the subject of a number of recent research reports. Needham & Company LLC reissued a "hold" rating on shares of Medtronic in a research note on Wednesday, February 19th. Royal Bank of Canada reiterated an "outperform" rating and issued 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 $89.00 and set a "hold" rating on the stock in a report on Wednesday, December 18th. Robert W. Baird upped their price target on shares of Medtronic from $90.00 to $91.00 and gave the company a "neutral" rating in a report on Wednesday, February 19th. Finally, Barclays raised their price target on shares of Medtronic from $105.00 to $109.00 and gave the stock an "overweight" rating in a report on Tuesday, November 26th. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating, six have issued a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus target price of $96.07.

Insiders Place Their Bets

In other Medtronic news, EVP Brett A. Wall sold 9,850 shares of Medtronic stock in a transaction on Wednesday, January 8th. The stock was 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. The trade was a 19.48 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 0.20% of the company's stock.

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.