Medtronic plc (NYSE:MDT) Holdings Decreased by Vectors Research Management LLC

Vectors Research Management LLC cut its position in shares of Medtronic plc (NYSE:MDT) by 10.6% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 14,631 shares of the medical technology company’s stock after selling 1,731 shares during the quarter. Vectors Research Management LLC’s holdings in Medtronic were worth $1,169,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in the business. Tower Research Capital LLC TRC grew its position in shares of Medtronic by 54.9% during the 4th quarter. Tower Research Capital LLC TRC now owns 73,128 shares of the medical technology company’s stock valued at $5,841,000 after buying an additional 25,933 shares during the last quarter. Trajan Wealth LLC boosted its stake in Medtronic by 6.8% in the fourth quarter. Trajan Wealth LLC now owns 58,956 shares of the medical technology company’s stock valued at $4,709,000 after acquiring an additional 3,767 shares during the period. MML Investors Services LLC grew its holdings in shares of Medtronic by 13.6% during the fourth quarter. MML Investors Services LLC now owns 285,318 shares of the medical technology company’s stock valued at $22,791,000 after purchasing an additional 34,218 shares during the last quarter. MetLife Investment Management LLC raised its position in shares of Medtronic by 1.8% during the 4th quarter. MetLife Investment Management LLC now owns 339,472 shares of the medical technology company’s stock worth $27,117,000 after purchasing an additional 5,939 shares during the period. Finally, Norinchukin Bank The lifted its holdings in shares of Medtronic by 9.3% in the 4th quarter. Norinchukin Bank The now owns 57,779 shares of the medical technology company’s stock worth $4,615,000 after purchasing an additional 4,899 shares during the last quarter. Institutional investors and hedge funds own 82.06% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have recently issued reports on MDT. Needham & Company LLC reissued a “hold” rating on shares of Medtronic in a report on Wednesday, February 19th. Truist Financial cut their price target on Medtronic from $93.00 to $90.00 and set a “hold” rating on the stock in a report on Friday, April 11th. Royal Bank of Canada reissued an “outperform” rating and issued a $105.00 price objective on shares of Medtronic in a report on Wednesday, February 19th. Robert W. Baird lifted their target price on Medtronic from $90.00 to $91.00 and gave the company a “neutral” rating in a research note on Wednesday, February 19th. Finally, Citigroup raised Medtronic from a “neutral” rating to a “buy” rating and increased their price target for the stock from $92.00 to $107.00 in a research note on Tuesday, March 4th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $96.14.

Medtronic Stock Down 0.1 %

NYSE MDT opened at $82.58 on Monday. The company has a market capitalization of $105.91 billion, a P/E ratio of 25.10, a PEG ratio of 2.22 and a beta of 0.79. Medtronic plc has a 12 month low of $75.96 and a 12 month high of $96.25. The company has a debt-to-equity ratio of 0.48, a current ratio of 1.90 and a quick ratio of 1.39. The company’s 50 day simple moving average is $88.91 and its 200 day simple moving average is $87.41.

Medtronic (NYSE:MDT) last announced its quarterly earnings data 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. The company had revenue of $8.29 billion during the quarter, compared to the consensus estimate of $8.33 billion. Medtronic had a return on equity of 14.07% and a net margin of 12.83%. Equities research 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, April 11th. Shareholders of record on Friday, March 28th were issued a $0.70 dividend. This represents a $2.80 annualized dividend and a dividend yield of 3.39%. The ex-dividend date of this dividend was Friday, March 28th. Medtronic’s payout ratio is 85.11%.

Insider Transactions at Medtronic

In other news, EVP Brett A. Wall sold 12,437 shares of the stock in a transaction on Friday, January 24th. The stock was 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 owns 40,979 shares in the company, valued at $3,688,110. This represents a 23.28 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.20% of the stock is currently owned by insiders.

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.