Fiduciary Group LLC trimmed its holdings in shares of Medtronic plc (NYSE:MDT – Free Report) by 7.1% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 20,168 shares of the medical technology company’s stock after selling 1,536 shares during the quarter. Fiduciary Group LLC’s holdings in Medtronic were worth $1,793,000 at the end of the most recent quarter.
Other institutional investors also recently bought and sold shares of the company. Wellington Management Group LLP raised its stake in shares of Medtronic by 0.3% in the 1st quarter. Wellington Management Group LLP now owns 29,945,349 shares of the medical technology company’s stock valued at $2,414,194,000 after acquiring an additional 88,302 shares in the last quarter. Geode Capital Management LLC lifted its stake in shares of Medtronic by 1.6% in the fourth quarter. Geode Capital Management LLC now owns 27,222,300 shares of the medical technology company’s stock worth $2,112,247,000 after buying an additional 423,715 shares during the last quarter. Bank of New York Mellon Corp lifted its stake in shares of Medtronic by 2.7% in the first quarter. Bank of New York Mellon Corp now owns 20,120,071 shares of the medical technology company’s stock worth $1,622,080,000 after buying an additional 534,722 shares during the last quarter. Franklin Resources Inc. boosted its holdings in shares of Medtronic by 6.0% during the 1st quarter. Franklin Resources Inc. now owns 19,990,359 shares of the medical technology company’s stock worth $1,611,623,000 after buying an additional 1,124,808 shares during the period. Finally, Deutsche Bank AG grew its stake in Medtronic by 14.9% in the 4th quarter. Deutsche Bank AG now owns 16,599,068 shares of the medical technology company’s stock valued at $1,290,080,000 after buying an additional 2,157,370 shares during the last quarter. 80.75% of the stock is currently owned by institutional investors.
Insider Activity
In related news, EVP Hoedt Rob Ten sold 5,514 shares of Medtronic stock in a transaction dated Monday, July 10th. The shares were sold at an average price of $86.58, for a total transaction of $477,402.12. Following the completion of the transaction, the executive vice president now directly owns 43,802 shares of the company’s stock, valued at approximately $3,792,377.16. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, EVP Brett A. Wall sold 2,000 shares of the stock in a transaction that occurred on Friday, July 14th. The stock was sold at an average price of $87.97, for a total transaction of $175,940.00. Following the sale, the executive vice president now directly owns 23,948 shares in the company, valued at approximately $2,106,705.56. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, EVP Hoedt Rob Ten sold 5,514 shares of the firm’s stock in a transaction on Monday, July 10th. The shares were sold at an average price of $86.58, for a total value of $477,402.12. Following the sale, the executive vice president now directly owns 43,802 shares of the company’s stock, valued at $3,792,377.16. The disclosure for this sale can be found here. In the last quarter, insiders have sold 19,866 shares of company stock worth $1,688,839. Corporate insiders own 0.30% of the company’s stock.
Analyst Ratings Changes
A number of equities research analysts have issued reports on MDT shares. StockNews.com cut shares of Medtronic from a “strong-buy” rating to a “buy” rating in a report on Thursday, September 7th. Truist Financial decreased their target price on Medtronic from $93.00 to $90.00 in a research note on Friday, May 26th. Robert W. Baird initiated coverage on Medtronic in a research report on Tuesday, July 18th. They issued a “neutral” rating and a $90.00 price target on the stock. Mizuho increased their price objective on Medtronic from $95.00 to $100.00 and gave the company a “buy” rating in a research report on Wednesday, August 23rd. Finally, Oppenheimer reaffirmed a “market perform” rating and set a $89.00 target price on shares of Medtronic in a research report on Wednesday, August 23rd. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $91.67.
Medtronic Price Performance
NYSE:MDT traded down $0.38 during mid-day trading on Tuesday, hitting $81.02. The company’s stock had a trading volume of 689,082 shares, compared to its average volume of 5,676,341. The company has a market capitalization of $107.80 billion, a price-to-earnings ratio of 30.04, a P/E/G ratio of 2.81 and a beta of 0.71. The company has a current ratio of 2.42, a quick ratio of 1.79 and a debt-to-equity ratio of 0.48. Medtronic plc has a fifty-two week low of $75.76 and a fifty-two week high of $92.02. The stock has a fifty day moving average of $84.56 and a 200-day moving average of $84.39.
Medtronic (NYSE:MDT – Get Free Report) last issued its earnings results on Tuesday, August 22nd. The medical technology company reported $1.20 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.11 by $0.09. The business had revenue of $7.70 billion during the quarter, compared to analysts’ expectations of $7.57 billion. Medtronic had a return on equity of 13.81% and a net margin of 11.47%. Medtronic’s quarterly revenue was up 4.5% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.13 EPS. As a group, equities analysts forecast that Medtronic plc will post 5.12 EPS for the current fiscal year.
Medtronic Announces Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 13th. Shareholders of record on Friday, September 22nd will be issued a dividend of $0.69 per share. The ex-dividend date is Thursday, September 21st. This represents a $2.76 dividend on an annualized basis and a dividend yield of 3.41%. Medtronic’s payout ratio is presently 101.85%.
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.