Medtronic plc (NYSE:MDT) Shares Sold by Kesler Norman & Wride LLC

Kesler Norman & Wride LLC cut its position in shares of Medtronic plc (NYSE:MDT) by 3.7% during the 4th quarter, according to the company in its most recent filing with the SEC. The firm owned 56,831 shares of the medical technology company’s stock after selling 2,157 shares during the quarter. Kesler Norman & Wride LLC’s holdings in Medtronic were worth $4,540,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Mainstream Capital Management LLC acquired a new position in Medtronic during the fourth quarter worth about $26,000. Rakuten Securities Inc. boosted its position in shares of Medtronic by 753.8% during the 4th quarter. Rakuten Securities Inc. now owns 333 shares of the medical technology company’s stock valued at $27,000 after purchasing an additional 294 shares in the last quarter. Stephens Consulting LLC grew its stake in shares of Medtronic by 145.7% in the 4th quarter. Stephens Consulting LLC now owns 344 shares of the medical technology company’s stock worth $27,000 after purchasing an additional 204 shares during the last quarter. Fiduciary Advisors Inc. bought a new stake in shares of Medtronic in the 4th quarter worth approximately $36,000. Finally, Chelsea Counsel Co. acquired a new stake in Medtronic during the third quarter valued at approximately $45,000. Institutional investors own 82.06% of the company’s stock.

Medtronic Stock Down 1.5 %

MDT stock opened at $88.48 on Wednesday. The company has a 50 day moving average of $91.02 and a two-hundred day moving average of $87.98. The company has a market cap of $113.48 billion, a price-to-earnings ratio of 26.89, a PEG ratio of 2.22 and a beta of 0.80. Medtronic plc has a 12-month low of $75.96 and a 12-month high of $96.25. 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 (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, topping the consensus estimate of $1.36 by $0.03. Medtronic had a return on equity of 14.07% and a net margin of 12.83%. The business had revenue of $8.29 billion during the quarter, compared to analyst estimates of $8.33 billion. On average, equities analysts anticipate that Medtronic plc will post 5.46 earnings per share for the current fiscal year.

Medtronic Dividend Announcement

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

Insider Buying and Selling

In other Medtronic news, EVP Brett A. Wall sold 12,437 shares of the business’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 value of $1,119,330.00. Following the completion of the sale, the executive vice president now directly owns 40,979 shares of the company’s stock, valued at $3,688,110. The trade was a 23.28 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. 0.20% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several research firms have issued reports on MDT. Citigroup upgraded shares of Medtronic from a “neutral” rating to a “buy” rating and lifted their price target for the stock from $92.00 to $107.00 in a research report on Tuesday, March 4th. Truist Financial cut their target price on Medtronic from $93.00 to $89.00 and set a “hold” rating on the stock in a research report on Wednesday, December 18th. Needham & Company LLC reiterated a “hold” rating on shares of Medtronic in a research report on Wednesday, February 19th. Royal Bank of Canada restated an “outperform” rating and set a $105.00 price objective on shares of Medtronic in a report on Wednesday, February 19th. Finally, Robert W. Baird raised their target price 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 research analyst has rated the stock with a sell rating, eight have assigned a hold rating, six have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, Medtronic presently has a consensus rating of “Hold” and a consensus target price 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.