Medtronic plc (NYSE:MDT) Shares Sold by Forum Financial Management LP

Forum Financial Management LP reduced its stake in shares of Medtronic plc (NYSE:MDT) by 4.2% in the 4th quarter, Holdings Channel reports. The fund owned 12,742 shares of the medical technology company’s stock after selling 554 shares during the period. Forum Financial Management LP’s holdings in Medtronic were worth $1,018,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently bought and sold shares of MDT. MONECO Advisors LLC increased its holdings in shares of Medtronic by 1.8% during the 4th quarter. MONECO Advisors LLC now owns 6,408 shares of the medical technology company’s stock valued at $512,000 after purchasing an additional 115 shares in the last quarter. OLD Second National Bank of Aurora grew its position in Medtronic by 0.3% during the fourth quarter. OLD Second National Bank of Aurora now owns 36,303 shares of the medical technology company’s stock valued at $2,900,000 after buying an additional 121 shares during the period. McKinley Carter Wealth Services Inc. grew its position in Medtronic by 0.7% during the fourth quarter. McKinley Carter Wealth Services Inc. now owns 19,677 shares of the medical technology company’s stock valued at $1,572,000 after buying an additional 129 shares during the period. Faithward Advisors LLC increased its holdings in Medtronic by 2.7% in the fourth quarter. Faithward Advisors LLC now owns 5,043 shares of the medical technology company’s stock valued at $403,000 after buying an additional 134 shares in the last quarter. Finally, Vestor Capital LLC raised its position in shares of Medtronic by 0.3% in the fourth quarter. Vestor Capital LLC now owns 51,375 shares of the medical technology company’s stock worth $4,104,000 after acquiring an additional 138 shares during the period. 82.06% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on MDT shares. Citigroup upgraded Medtronic from a “neutral” rating to a “buy” rating and raised their target price for the company from $92.00 to $107.00 in a research report on Tuesday, March 4th. Robert W. Baird raised their price objective on Medtronic from $90.00 to $91.00 and gave the company a “neutral” rating in a report on Wednesday, February 19th. Truist Financial cut their price objective on Medtronic from $93.00 to $90.00 and set a “hold” rating for the company in a research report on Friday, April 11th. UBS Group increased their target price on Medtronic from $85.00 to $95.00 and gave the company a “neutral” rating in a research report on Wednesday, February 19th. Finally, Needham & Company LLC reissued a “hold” rating on shares of Medtronic in a report on Wednesday, February 19th. One research analyst has rated the stock with a sell rating, eight have given a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $96.14.

Insiders Place Their Bets

In other news, EVP Brett A. Wall sold 12,437 shares of the firm’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 completion of the sale, the executive vice president now owns 40,979 shares in the company, valued at $3,688,110. This trade represents a 23.28 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 0.20% of the company’s stock.

Medtronic Price Performance

Medtronic stock opened at $82.58 on Friday. The company has a fifty day simple moving average of $88.91 and a 200-day simple moving average of $87.42. The firm has a market capitalization of $105.91 billion, a price-to-earnings ratio of 25.10, a PEG ratio of 2.22 and a beta of 0.79. The company has a quick ratio of 1.39, a current ratio of 1.90 and a debt-to-equity ratio of 0.48. Medtronic plc has a 52-week low of $75.96 and a 52-week high of $96.25.

Medtronic (NYSE:MDT) last announced its quarterly earnings data on Tuesday, February 18th. The medical technology company reported $1.39 earnings per share (EPS) for the quarter, beating 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 company had revenue of $8.29 billion during the quarter, compared to analysts’ expectations of $8.33 billion. On average, equities analysts anticipate that Medtronic plc will post 5.46 EPS for the current fiscal year.

Medtronic Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, April 11th. Shareholders of record on Friday, March 28th were paid a dividend of $0.70 per share. This represents a $2.80 dividend on an annualized basis and a yield of 3.39%. The ex-dividend date of this dividend was Friday, March 28th. Medtronic’s dividend payout ratio (DPR) is currently 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.