Angeles Investment Advisors LLC Sells 380 Shares of Medtronic plc (NYSE:MDT)

Angeles Investment Advisors LLC lessened its position in shares of Medtronic plc (NYSE:MDT) by 5.1% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 7,057 shares of the medical technology company’s stock after selling 380 shares during the period. Angeles Investment Advisors LLC’s holdings in Medtronic were worth $566,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in the company. LPL Financial LLC grew its holdings in shares of Medtronic by 6.9% in the 3rd quarter. LPL Financial LLC now owns 1,092,135 shares of the medical technology company’s stock valued at $98,325,000 after acquiring an additional 70,413 shares in the last quarter. Nicolet Advisory Services LLC grew its holdings in shares of Medtronic by 10.5% in the 3rd quarter. Nicolet Advisory Services LLC now owns 3,802 shares of the medical technology company’s stock valued at $334,000 after acquiring an additional 360 shares in the last quarter. Cerity Partners LLC grew its holdings in shares of Medtronic by 43.1% in the 3rd quarter. Cerity Partners LLC now owns 243,308 shares of the medical technology company’s stock valued at $21,910,000 after acquiring an additional 73,334 shares in the last quarter. Kingsview Wealth Management LLC grew its holdings in shares of Medtronic by 11.7% in the 3rd quarter. Kingsview Wealth Management LLC now owns 20,949 shares of the medical technology company’s stock valued at $1,886,000 after acquiring an additional 2,197 shares in the last quarter. Finally, Okabena Investment Services Inc. grew its holdings in shares of Medtronic by 13.8% in the 3rd quarter. Okabena Investment Services Inc. now owns 3,696 shares of the medical technology company’s stock valued at $333,000 after acquiring an additional 448 shares in the last quarter. Institutional investors own 82.06% of the company’s stock.

Medtronic Trading Down 0.9 %

Shares of MDT stock opened at $90.37 on Monday. The firm has a 50 day moving average price of $90.67 and a two-hundred day moving average price of $88.05. The company has a quick ratio of 1.39, a current ratio of 1.90 and a debt-to-equity ratio of 0.48. The company has a market capitalization of $115.90 billion, a PE ratio of 27.47, a price-to-earnings-growth ratio of 2.22 and a beta of 0.80. Medtronic plc has a 12-month low of $75.96 and a 12-month high of $96.25.

Medtronic (NYSE:MDT) last issued its quarterly earnings data on Tuesday, February 18th. The medical technology company reported $1.39 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.36 by $0.03. Medtronic had a net margin of 12.83% and a return on equity of 14.07%. The firm had revenue of $8.29 billion during the quarter, compared to the consensus estimate of $8.33 billion. As a group, analysts predict that Medtronic plc will post 5.46 earnings per share for the current year.

Medtronic Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, April 11th. Stockholders of record on Friday, March 28th will be given a $0.70 dividend. The ex-dividend date of this dividend is Friday, March 28th. This represents a $2.80 dividend on an annualized basis and a dividend yield of 3.10%. Medtronic’s payout ratio is 85.11%.

Insider Activity

In other news, EVP Brett A. Wall sold 12,437 shares of Medtronic stock in a transaction that occurred 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 completion of the sale, the executive vice president now directly owns 40,979 shares in the company, valued at approximately $3,688,110. The trade was a 23.28 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 0.20% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

MDT has been the subject of several analyst reports. UBS Group raised their price objective on Medtronic from $85.00 to $95.00 and gave the company a “neutral” rating in a report on Wednesday, February 19th. Robert W. Baird lifted their price target on Medtronic from $90.00 to $91.00 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 report on Wednesday, February 19th. Royal Bank of Canada reiterated an “outperform” rating and set a $105.00 price target on shares of Medtronic in a report on Wednesday, February 19th. Finally, Truist Financial reduced their price target on Medtronic from $93.00 to $89.00 and set a “hold” rating for the company in a report on Wednesday, December 18th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating, six have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $96.07.

Medtronic 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.