MBA Advisors LLC Sells 915 Shares of Medtronic plc (NYSE:MDT)

MBA Advisors LLC cut its position in shares of Medtronic plc (NYSE:MDT) by 20.1% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 3,631 shares of the medical technology company’s stock after selling 915 shares during the quarter. MBA Advisors LLC’s holdings in Medtronic were worth $290,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in the company. Savant Capital LLC increased its position in shares of Medtronic by 138.0% during the 4th quarter. Savant Capital LLC now owns 89,644 shares of the medical technology company’s stock valued at $7,161,000 after purchasing an additional 51,985 shares during the last quarter. Angeles Wealth Management LLC increased its holdings in Medtronic by 36.3% during the fourth quarter. Angeles Wealth Management LLC now owns 3,085 shares of the medical technology company’s stock worth $246,000 after buying an additional 822 shares during the last quarter. HTLF Bank raised its position in Medtronic by 0.3% in the fourth quarter. HTLF Bank now owns 59,009 shares of the medical technology company’s stock worth $4,714,000 after acquiring an additional 173 shares during the period. Tevis Investment Management boosted its stake in Medtronic by 1.3% in the fourth quarter. Tevis Investment Management now owns 42,304 shares of the medical technology company’s stock valued at $3,409,000 after acquiring an additional 556 shares during the last quarter. Finally, Kestra Private Wealth Services LLC grew its position in shares of Medtronic by 6.1% during the 4th quarter. Kestra Private Wealth Services LLC now owns 103,281 shares of the medical technology company’s stock valued at $8,250,000 after acquiring an additional 5,942 shares during the period. 82.06% of the stock is owned by institutional investors.

Medtronic Price Performance

Shares of Medtronic stock opened at $90.01 on Monday. The stock has a market capitalization of $115.42 billion, a P/E ratio of 27.53, a price-to-earnings-growth ratio of 2.57 and a beta of 0.84. Medtronic plc has a one year low of $75.96 and a one year high of $93.08. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.84 and a quick ratio of 1.39. The business’s 50 day simple moving average is $84.85 and its two-hundred day simple moving average is $86.43.

Medtronic (NYSE:MDT) last announced its quarterly earnings results on Tuesday, November 19th. The medical technology company reported $1.26 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.25 by $0.01. The business had revenue of $8.40 billion for the quarter, compared to analyst estimates of $8.27 billion. Medtronic had a net margin of 13.00% and a return on equity of 13.79%. The company’s revenue was up 5.2% on a year-over-year basis. During the same quarter last year, the firm earned $1.25 EPS. Analysts forecast that Medtronic plc will post 5.45 EPS for the current year.

Medtronic Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, January 10th. Shareholders of record on Friday, December 27th were given a dividend of $0.70 per share. The ex-dividend date of this dividend was Friday, December 27th. This represents a $2.80 annualized dividend and a yield of 3.11%. Medtronic’s payout ratio is 85.63%.

Analysts Set New Price Targets

A number of equities research analysts recently commented on the stock. Needham & Company LLC reaffirmed a “hold” rating on shares of Medtronic in a report on Monday, November 18th. Wells Fargo & Company lowered their target price on Medtronic from $106.00 to $98.00 and set an “overweight” rating on the stock in a research note on Wednesday, November 20th. Truist Financial cut their price target on Medtronic from $93.00 to $89.00 and set a “hold” rating for the company in a research note on Wednesday, December 18th. JPMorgan Chase & Co. lowered their price objective on Medtronic from $99.00 to $96.00 and set a “neutral” rating on the stock in a research note on Friday, November 15th. Finally, Robert W. Baird cut their target price on shares of Medtronic from $96.00 to $93.00 and set a “neutral” rating for the company in a research report on Wednesday, November 20th. One research analyst has rated the stock with a sell rating, nine have given a hold rating, six have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $95.00.

Insider Activity at Medtronic

In other Medtronic news, EVP Brett A. Wall sold 12,437 shares of the company’s stock in a transaction dated Friday, January 24th. The shares were sold at an average price of $90.00, for a total value 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. This represents a 23.28 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.20% of the stock is currently owned by corporate insiders.

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.