Medtronic plc (NYSE:MDT) Shares Sold by Pathway Financial Advisers LLC

Pathway Financial Advisers LLC lowered its stake in Medtronic plc (NYSE:MDT) by 2.0% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 39,805 shares of the medical technology company’s stock after selling 832 shares during the period. Pathway Financial Advisers LLC’s holdings in Medtronic were worth $3,180,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds also recently modified their holdings of MDT. Fortitude Family Office LLC acquired a new stake in shares of Medtronic during the third quarter worth $27,000. Highline Wealth Partners LLC purchased a new position in Medtronic in the 3rd quarter worth about $27,000. Darwin Wealth Management LLC acquired a new stake in Medtronic during the 3rd quarter worth about $27,000. Stephens Consulting LLC lifted its stake in Medtronic by 145.7% during the fourth quarter. Stephens Consulting LLC now owns 344 shares of the medical technology company’s stock valued at $27,000 after buying an additional 204 shares in the last quarter. Finally, J. Stern & Co. LLP acquired a new position in shares of Medtronic in the third quarter worth about $30,000. Institutional investors and hedge funds own 82.06% of the company’s stock.

Medtronic Price Performance

NYSE MDT opened at $91.35 on Thursday. The company has a quick ratio of 1.39, a current ratio of 1.84 and a debt-to-equity ratio of 0.51. The stock has a market capitalization of $117.14 billion, a PE ratio of 27.94, a price-to-earnings-growth ratio of 2.57 and a beta of 0.84. Medtronic plc has a 12-month low of $75.96 and a 12-month high of $93.08. The company has a 50 day moving average price of $85.16 and a two-hundred day moving average price of $86.68.

Medtronic (NYSE:MDT) last released its quarterly earnings data on Tuesday, November 19th. The medical technology company reported $1.26 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.25 by $0.01. Medtronic had a net margin of 13.00% and a return on equity of 13.79%. The business had revenue of $8.40 billion during the quarter, compared to analyst estimates of $8.27 billion. During the same quarter in the previous year, the business earned $1.25 EPS. Medtronic’s quarterly revenue was up 5.2% compared to the same quarter last year. As a group, equities analysts predict that Medtronic plc will post 5.45 earnings per share for the current fiscal year.

Medtronic Dividend Announcement

The business also recently announced 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 dividend on an annualized basis and a yield of 3.07%. Medtronic’s payout ratio is currently 85.63%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on the stock. Sanford C. Bernstein boosted their price target on shares of Medtronic from $96.00 to $97.00 and gave the company an “outperform” rating in a report on Wednesday, November 20th. Robert W. Baird cut their target price on shares of Medtronic from $96.00 to $93.00 and set a “neutral” rating on the stock in a research note on Wednesday, November 20th. Truist Financial decreased their target price on Medtronic from $93.00 to $89.00 and set a “hold” rating for the company in a research report on Wednesday, December 18th. JPMorgan Chase & Co. dropped their price target on Medtronic from $99.00 to $96.00 and set a “neutral” rating on the stock in a research report on Friday, November 15th. Finally, Barclays raised their price objective on Medtronic from $105.00 to $109.00 and gave the stock an “overweight” rating in a research report on Tuesday, November 26th. One analyst has rated the stock with a sell rating, nine have assigned a hold rating, six have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, Medtronic presently has a consensus rating of “Hold” and an average price target of $95.00.

Insider Activity

In related news, EVP Brett A. Wall sold 12,437 shares of the business’s stock in a transaction dated 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 completion of the transaction, the executive vice president now owns 40,979 shares of the company’s stock, valued at approximately $3,688,110. The trade was a 23.28 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.20% of the company’s stock.

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.