Financial Counselors Inc. Sells 17,346 Shares of Medtronic plc (NYSE:MDT)

Financial Counselors Inc. lessened its holdings in shares of Medtronic plc (NYSE:MDT) by 7.9% in the fourth quarter, Holdings Channel.com reports. The firm owned 200,943 shares of the medical technology company’s stock after selling 17,346 shares during the period. Financial Counselors Inc.’s holdings in Medtronic were worth $16,051,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Copley Financial Group Inc. bought a new position in Medtronic in the 3rd quarter worth approximately $694,000. Franklin Street Advisors Inc. NC boosted its holdings in shares of Medtronic by 32.6% in the fourth quarter. Franklin Street Advisors Inc. NC now owns 73,517 shares of the medical technology company’s stock worth $5,873,000 after acquiring an additional 18,057 shares during the period. Y Intercept Hong Kong Ltd grew its position in shares of Medtronic by 322.6% in the third quarter. Y Intercept Hong Kong Ltd now owns 73,593 shares of the medical technology company’s stock valued at $6,626,000 after purchasing an additional 56,178 shares in the last quarter. Olstein Capital Management L.P. grew its position in shares of Medtronic by 8.0% in the fourth quarter. Olstein Capital Management L.P. now owns 94,000 shares of the medical technology company’s stock valued at $7,509,000 after purchasing an additional 7,000 shares in the last quarter. Finally, Czech National Bank raised its stake in shares of Medtronic by 6.4% during the 4th quarter. Czech National Bank now owns 278,065 shares of the medical technology company’s stock valued at $22,212,000 after purchasing an additional 16,786 shares during the period. Institutional investors own 82.06% of the company’s stock.

Analysts Set New Price Targets

MDT has been the subject of several analyst reports. Citigroup upgraded Medtronic from a “neutral” rating to a “buy” rating and raised their target price for the stock from $92.00 to $107.00 in a research note on Tuesday, March 4th. Barclays raised their price objective on shares of Medtronic from $105.00 to $109.00 and gave the company an “overweight” rating in a research report on Tuesday, November 26th. Truist Financial decreased their target price on shares of Medtronic from $93.00 to $89.00 and set a “hold” rating on the stock in a report on Wednesday, December 18th. Robert W. Baird boosted 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. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and issued a $105.00 price target on shares of Medtronic in a report on Wednesday, February 19th. One investment 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 company’s stock. According to data from MarketBeat, Medtronic presently has an average rating of “Hold” and a consensus target price of $96.07.

Insiders Place Their Bets

In other news, EVP Brett A. Wall sold 9,850 shares of the firm’s stock in a transaction that occurred on Wednesday, January 8th. The shares were sold at an average price of $80.41, for a total value of $792,038.50. Following 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 ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.20% of the company’s stock.

Medtronic Trading Down 1.8 %

MDT stock opened at $88.50 on Wednesday. Medtronic plc has a one year low of $75.96 and a one year high of $96.25. The company has a market capitalization of $113.51 billion, a PE ratio of 26.90, a price-to-earnings-growth ratio of 2.22 and a beta of 0.80. The company’s 50 day moving average price is $90.90 and its two-hundred day moving average price is $88.04. 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 results on Tuesday, February 18th. The medical technology company reported $1.39 earnings per share for the quarter, topping 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 business had revenue of $8.29 billion during the quarter, compared to the consensus estimate of $8.33 billion. As a group, analysts predict that Medtronic plc will post 5.46 earnings per share for the current fiscal year.

Medtronic Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, April 11th. Investors of record on Friday, March 28th will be given a dividend of $0.70 per share. The ex-dividend date is Friday, March 28th. This represents a $2.80 annualized dividend and a yield of 3.16%. Medtronic’s payout ratio is 85.11%.

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.