Weaver C. Barksdale & Associates Inc. Has $1.12 Million Stock Holdings in Medtronic plc (NYSE:MDT)

Weaver C. Barksdale & Associates Inc. lowered its position in Medtronic plc (NYSE:MDT) by 2.0% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 14,018 shares of the medical technology company’s stock after selling 280 shares during the quarter. Weaver C. Barksdale & Associates Inc.’s holdings in Medtronic were worth $1,121,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also added to or reduced their stakes in the company. Penobscot Investment Management Company Inc. bought a new position in shares of Medtronic during the fourth quarter valued at $279,000. Morey & Quinn Wealth Partners LLC acquired a new position in shares of Medtronic in the fourth quarter worth approximately $229,000. Ipsen Advisor Group LLC bought a new stake in Medtronic in the fourth quarter valued at approximately $459,000. Murphy & Mullick Capital Management Corp acquired a new stake in Medtronic during the 4th quarter valued at approximately $65,000. Finally, Mitsubishi UFJ Trust & Banking Corp raised its holdings in Medtronic by 2.0% during the 4th quarter. Mitsubishi UFJ Trust & Banking Corp now owns 647,334 shares of the medical technology company’s stock worth $51,709,000 after purchasing an additional 12,727 shares during the last quarter. Institutional investors own 82.06% of the company’s stock.

Medtronic Stock Performance

Shares of MDT stock opened at $88.50 on Wednesday. Medtronic plc has a 52 week low of $75.96 and a 52 week high of $96.25. The firm’s 50-day simple moving average is $90.90 and its two-hundred day simple moving average is $88.04. The firm has a market cap of $113.51 billion, a price-to-earnings ratio of 26.90, a P/E/G ratio of 2.22 and a beta of 0.80. The company has a debt-to-equity ratio of 0.48, a quick ratio of 1.39 and a current ratio of 1.90.

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

Medtronic Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, April 11th. Investors of record on Friday, March 28th will be issued a $0.70 dividend. This represents a $2.80 annualized dividend and a yield of 3.16%. The ex-dividend date is Friday, March 28th. Medtronic’s dividend payout ratio (DPR) is currently 85.11%.

Insider Activity at Medtronic

In other news, EVP Brett A. Wall sold 9,850 shares of Medtronic stock in a transaction dated Wednesday, January 8th. The shares were sold at an average price of $80.41, for a total value of $792,038.50. Following the completion of the transaction, the executive vice president now owns 40,708 shares in the company, valued at $3,273,330.28. This trade represents a 19.48 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.20% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on MDT. Citigroup upgraded shares of Medtronic from a “neutral” rating to a “buy” rating and increased their price objective for the stock from $92.00 to $107.00 in a research report on Tuesday, March 4th. UBS Group lifted their price objective on Medtronic from $85.00 to $95.00 and gave the stock a “neutral” rating in a research report on Wednesday, February 19th. Needham & Company LLC reissued a “hold” rating on shares of Medtronic in a research note on Wednesday, February 19th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $105.00 target price on shares of Medtronic in a research note on Wednesday, February 19th. Finally, Truist Financial cut their price target on Medtronic from $93.00 to $89.00 and set a “hold” rating on the stock in a report on Wednesday, December 18th. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, Medtronic has a consensus 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.