Nelson Capital Management LLC Lowers Holdings in Medtronic plc (NYSE:MDT)

Nelson Capital Management LLC decreased its holdings in Medtronic plc (NYSE:MDT) by 2.3% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 39,157 shares of the medical technology company’s stock after selling 922 shares during the period. Nelson Capital Management LLC’s holdings in Medtronic were worth $3,128,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Fortitude Family Office LLC purchased a new stake in Medtronic in the third quarter worth approximately $27,000. Darwin Wealth Management LLC purchased a new position in shares of Medtronic in the 3rd quarter worth $27,000. Highline Wealth Partners LLC bought a new stake in shares of Medtronic in the third quarter worth $27,000. J. Stern & Co. LLP bought a new position in shares of Medtronic in the 3rd quarter worth approximately $30,000. Finally, Stephens Consulting LLC raised its position in Medtronic by 145.7% in the fourth quarter. Stephens Consulting LLC now owns 344 shares of the medical technology company’s stock worth $27,000 after acquiring an additional 204 shares during the period. 82.06% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several research analysts recently weighed in on MDT shares. Wells Fargo & Company dropped their target price on shares of Medtronic from $106.00 to $98.00 and set an “overweight” rating for the company in a report on Wednesday, November 20th. Truist Financial cut their price target 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. UBS Group raised their target price on shares of Medtronic from $85.00 to $95.00 and gave the stock a “neutral” rating in a report on Wednesday, February 19th. Needham & Company LLC reiterated a “hold” rating on shares of Medtronic in a research report on Wednesday, February 19th. Finally, JPMorgan Chase & Co. lowered their price target on shares of Medtronic from $99.00 to $96.00 and set a “neutral” rating on the stock in a research report on Friday, November 15th. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $95.00.

Insider Buying and Selling

In related news, EVP Brett A. Wall sold 12,437 shares of the business’s stock in a transaction on 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 directly 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 legal filing with the SEC, which can be accessed through this hyperlink. 0.20% of the stock is owned by corporate insiders.

Medtronic Stock Up 0.4 %

Shares of MDT stock opened at $90.57 on Wednesday. Medtronic plc has a 1 year low of $75.96 and a 1 year high of $93.08. The company has a debt-to-equity ratio of 0.48, a quick ratio of 1.39 and a current ratio of 1.90. The business’s fifty day moving average is $86.44 and its 200-day moving average is $87.30. The stock has a market cap of $116.13 billion, a PE ratio of 27.53, a price-to-earnings-growth ratio of 2.22 and a beta of 0.84.

Medtronic (NYSE:MDT) last posted its quarterly earnings results on Tuesday, February 18th. The medical technology company reported $1.39 earnings per share for the quarter, topping analysts’ consensus estimates of $1.36 by $0.03. The business had revenue of $8.29 billion for the quarter, compared to the consensus estimate of $8.33 billion. Medtronic had a net margin of 12.83% and a return on equity of 14.07%. Equities analysts expect that Medtronic plc will post 5.46 earnings per share for the current fiscal year.

Medtronic Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, January 10th. Stockholders of record on Friday, December 27th were paid a $0.70 dividend. The ex-dividend date of this dividend was Friday, December 27th. This represents a $2.80 annualized dividend and a dividend yield of 3.09%. 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.