Medtronic plc (NYSE:MDT) Shares Sold by Sandy Spring Bank

Sandy Spring Bank lowered its stake in shares of Medtronic plc (NYSE:MDT) by 9.0% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 12,963 shares of the medical technology company’s stock after selling 1,280 shares during the quarter. Sandy Spring Bank’s holdings in Medtronic were worth $1,036,000 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of MDT. Segall Bryant & Hamill LLC acquired a new position in shares of Medtronic during the third quarter valued at about $2,641,000. Darwin Wealth Management LLC acquired a new position in shares of Medtronic during the third quarter valued at about $27,000. Citizens Financial Group Inc. RI increased its holdings in shares of Medtronic by 31.5% during the third quarter. Citizens Financial Group Inc. RI now owns 15,873 shares of the medical technology company’s stock valued at $1,439,000 after acquiring an additional 3,805 shares in the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. increased its holdings in Medtronic by 2.8% in the 3rd quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 813,041 shares of the medical technology company’s stock worth $73,198,000 after buying an additional 22,232 shares during the period. Finally, Cypress Capital Group increased its holdings in Medtronic by 28.9% in the 3rd quarter. Cypress Capital Group now owns 12,473 shares of the medical technology company’s stock worth $1,123,000 after buying an additional 2,798 shares during the period. Institutional investors and hedge funds own 82.06% of the company’s stock.

Insider Buying and Selling at Medtronic

In other news, EVP Brett A. Wall sold 12,437 shares of Medtronic stock in a transaction on Friday, January 24th. The stock was sold at an average price of $90.00, for a total transaction of $1,119,330.00. Following the transaction, the executive vice president now owns 40,979 shares in the company, valued at $3,688,110. The trade was a 23.28 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.20% of the stock is currently owned by insiders.

Medtronic Trading Down 0.9 %

Shares of NYSE:MDT opened at $90.37 on Friday. Medtronic plc has a 1 year low of $75.96 and a 1 year high of $96.25. The firm has a market capitalization of $115.90 billion, a price-to-earnings ratio of 27.47, a price-to-earnings-growth ratio of 2.22 and a beta of 0.80. 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 business’s 50 day moving average price is $90.67 and its 200-day moving average price is $88.08.

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

Medtronic Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, April 11th. Shareholders of record on Friday, March 28th will be issued a $0.70 dividend. The ex-dividend date of this dividend is Friday, March 28th. This represents a $2.80 dividend on an annualized basis and a yield of 3.10%. Medtronic’s payout ratio is currently 85.11%.

Analyst Ratings Changes

Several brokerages recently weighed in on MDT. Barclays increased their price target on shares of Medtronic from $105.00 to $109.00 and gave the stock an “overweight” rating in a report on Tuesday, November 26th. Needham & Company LLC reiterated a “hold” rating on shares of Medtronic in a report on Wednesday, February 19th. Royal Bank of Canada reiterated an “outperform” rating and issued a $105.00 price target on shares of Medtronic in a report on Wednesday, February 19th. Truist Financial cut their price target 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. Finally, Robert W. Baird increased their price target on shares of Medtronic from $90.00 to $91.00 and gave the stock a “neutral” rating in a report on Wednesday, February 19th. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating, six have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company has an average rating of “Hold” and an average price target 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.