Dudley Capital Management LLC Has $849,000 Stake in Medtronic plc (NYSE:MDT)

Dudley Capital Management LLC cut its holdings in Medtronic plc (NYSE:MDT) by 30.6% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 10,627 shares of the medical technology company’s stock after selling 4,690 shares during the quarter. Dudley Capital Management LLC’s holdings in Medtronic were worth $849,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. 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 lifted its stake in 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 purchasing an additional 73,334 shares during the last quarter. Kingsview Wealth Management LLC grew its holdings in Medtronic by 11.7% during the third quarter. Kingsview Wealth Management LLC now owns 20,949 shares of the medical technology company’s stock worth $1,886,000 after purchasing an additional 2,197 shares during the period. Larson Financial Group LLC grew its holdings in Medtronic by 18.8% during the third quarter. Larson Financial Group LLC now owns 24,675 shares of the medical technology company’s stock worth $2,221,000 after purchasing an additional 3,903 shares during the period. Finally, Cahill Financial Advisors Inc. increased its position in Medtronic by 66.5% during the third quarter. Cahill Financial Advisors Inc. now owns 5,480 shares of the medical technology company’s stock worth $493,000 after buying an additional 2,189 shares during the last quarter. 82.06% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on the company. Barclays boosted their price objective on Medtronic from $105.00 to $109.00 and gave the stock an “overweight” rating in a report on Tuesday, November 26th. Truist Financial dropped their price objective on shares of Medtronic from $93.00 to $89.00 and set a “hold” rating for the company in a research note on Wednesday, December 18th. Needham & Company LLC restated a “hold” rating on shares of Medtronic in a report on Wednesday, February 19th. Citigroup raised Medtronic from a “neutral” rating to a “buy” rating and increased their price target for the company from $92.00 to $107.00 in a research note on Tuesday, March 4th. Finally, Robert W. Baird upped their price target on shares of Medtronic from $90.00 to $91.00 and gave the company a “neutral” rating in a research report on Wednesday, February 19th. One analyst has rated the stock with a sell rating, eight have assigned a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $96.07.

Insider Activity at Medtronic

In related news, EVP Brett A. Wall sold 12,437 shares of the company’s stock in a transaction that occurred on Friday, January 24th. The shares were sold at an average price of $90.00, for a total transaction of $1,119,330.00. Following the sale, the executive vice president now owns 40,979 shares of the company’s stock, valued at approximately $3,688,110. This represents a 23.28 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 0.20% of the stock is currently owned by corporate insiders.

Medtronic Price Performance

Shares of NYSE:MDT opened at $90.16 on Tuesday. The company has a current ratio of 1.90, a quick ratio of 1.39 and a debt-to-equity ratio of 0.48. The stock has a market cap of $115.64 billion, a PE ratio of 27.40, a price-to-earnings-growth ratio of 2.22 and a beta of 0.80. The stock’s fifty day simple moving average is $90.84 and its two-hundred day simple moving average is $88.05. Medtronic plc has a 1-year low of $75.96 and a 1-year high of $96.25.

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

Medtronic Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, April 11th. Stockholders of record on Friday, March 28th will be paid a dividend of $0.70 per share. The ex-dividend date is Friday, March 28th. This represents a $2.80 annualized dividend and a dividend yield of 3.11%. Medtronic’s payout ratio is 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.