Medtronic plc (NYSE:MDT) Shares Sold by Atomi Financial Group Inc.

Atomi Financial Group Inc. reduced its holdings in Medtronic plc (NYSE:MDT) by 12.4% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 10,508 shares of the medical technology company’s stock after selling 1,481 shares during the quarter. Atomi Financial Group Inc.’s holdings in Medtronic were worth $839,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently added to or reduced their stakes in MDT. LifePlan Financial LLC increased its stake in shares of Medtronic by 3.8% during the 4th quarter. LifePlan Financial LLC now owns 22,327 shares of the medical technology company’s stock valued at $1,783,000 after acquiring an additional 822 shares during the last quarter. Clear Harbor Asset Management LLC grew its holdings in Medtronic by 3.1% in the fourth quarter. Clear Harbor Asset Management LLC now owns 9,855 shares of the medical technology company’s stock valued at $787,000 after purchasing an additional 297 shares during the period. Legal Advantage Investments Inc. increased its position in Medtronic by 14.1% during the fourth quarter. Legal Advantage Investments Inc. now owns 2,906 shares of the medical technology company’s stock worth $232,000 after purchasing an additional 360 shares during the last quarter. Crossmark Global Holdings Inc. raised its stake in Medtronic by 5.4% during the fourth quarter. Crossmark Global Holdings Inc. now owns 355,408 shares of the medical technology company’s stock worth $28,390,000 after purchasing an additional 18,310 shares during the period. Finally, Ballentine Partners LLC boosted its holdings in shares of Medtronic by 24.6% in the 4th quarter. Ballentine Partners LLC now owns 16,287 shares of the medical technology company’s stock valued at $1,301,000 after purchasing an additional 3,215 shares during the last quarter. 82.06% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

MDT has been the subject of a number of research analyst reports. Needham & Company LLC restated a “hold” rating on shares of Medtronic in a report on Monday, November 18th. Royal Bank of Canada upgraded Medtronic from a “sector perform” rating to an “outperform” rating and upped their price target for the stock from $98.00 to $105.00 in a research note on Thursday, October 10th. Sanford C. Bernstein lifted their price objective on Medtronic from $96.00 to $97.00 and gave the company an “outperform” rating in a research note on Wednesday, November 20th. Barclays increased their target price on shares of Medtronic from $105.00 to $109.00 and gave the stock an “overweight” rating in a research report on Tuesday, November 26th. Finally, Truist Financial reduced their price target on shares of Medtronic from $93.00 to $89.00 and set a “hold” rating on the stock in a research report on Wednesday, December 18th. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating, six have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, Medtronic presently has a consensus rating of “Hold” and an average price target of $95.00.

Medtronic Stock Down 0.6 %

Shares of NYSE MDT opened at $87.84 on Thursday. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.39 and a current ratio of 1.84. Medtronic plc has a 1 year low of $75.96 and a 1 year high of $92.68. The stock’s 50-day simple moving average is $83.64 and its 200-day simple moving average is $85.37. The firm has a market cap of $112.64 billion, a price-to-earnings ratio of 26.86, a PEG ratio of 2.49 and a beta of 0.83.

Medtronic (NYSE:MDT) last posted its quarterly earnings data on Tuesday, November 19th. The medical technology company reported $1.26 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.25 by $0.01. The company had revenue of $8.40 billion for the quarter, compared to the consensus estimate of $8.27 billion. Medtronic had a return on equity of 13.79% and a net margin of 13.00%. Medtronic’s revenue for the quarter was up 5.2% compared to the same quarter last year. During the same period in the previous year, the business earned $1.25 EPS. As a group, equities analysts anticipate that Medtronic plc will post 5.45 earnings per share for the current fiscal year.

Medtronic Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, January 10th. Stockholders of record on Friday, December 27th were given a $0.70 dividend. This represents a $2.80 annualized dividend and a dividend yield of 3.19%. The ex-dividend date was Friday, December 27th. Medtronic’s payout ratio is currently 85.63%.

Insider Activity

In other news, EVP Brett A. Wall sold 9,850 shares of Medtronic stock in a transaction that occurred on Wednesday, January 8th. The stock was 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 approximately $3,273,330.28. This trade represents a 19.48 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 0.20% of the company’s stock.

About Medtronic

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.