Titleist Asset Management LLC Has $533,000 Stock Holdings in Medtronic plc (NYSE:MDT)

Titleist Asset Management LLC trimmed its stake in shares of Medtronic plc (NYSE:MDT) by 17.2% during the fourth quarter, Holdings Channel reports. The firm owned 6,677 shares of the medical technology company’s stock after selling 1,390 shares during the period. Titleist Asset Management LLC’s holdings in Medtronic were worth $533,000 at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of the stock. Russell Investments Group Ltd. lifted its position in shares of Medtronic by 5.4% during the 4th quarter. Russell Investments Group Ltd. now owns 1,641,002 shares of the medical technology company’s stock worth $131,067,000 after buying an additional 84,294 shares during the period. Wedbush Securities Inc. lifted its holdings in shares of Medtronic by 13.2% during the fourth quarter. Wedbush Securities Inc. now owns 34,482 shares of the medical technology company’s stock valued at $2,754,000 after acquiring an additional 4,022 shares during the period. Envestnet Asset Management Inc. boosted its stake in shares of Medtronic by 5.6% in the 4th quarter. Envestnet Asset Management Inc. now owns 4,387,426 shares of the medical technology company’s stock valued at $350,468,000 after purchasing an additional 232,277 shares in the last quarter. Sit Investment Associates Inc. grew its holdings in shares of Medtronic by 39.5% in the 4th quarter. Sit Investment Associates Inc. now owns 57,510 shares of the medical technology company’s stock worth $4,594,000 after purchasing an additional 16,280 shares during the last quarter. Finally, Grantham Mayo Van Otterloo & Co. LLC increased its position in shares of Medtronic by 4.7% during the 4th quarter. Grantham Mayo Van Otterloo & Co. LLC now owns 215,375 shares of the medical technology company’s stock worth $17,204,000 after purchasing an additional 9,646 shares in the last quarter. 82.06% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on MDT shares. UBS Group boosted their price target on shares of Medtronic from $85.00 to $95.00 and gave the company a “neutral” rating in a research report on Wednesday, February 19th. Citigroup raised Medtronic from a “neutral” rating to a “buy” rating and raised their price target for the company from $92.00 to $107.00 in a report on Tuesday, March 4th. Truist Financial reduced their price objective on Medtronic from $93.00 to $89.00 and set a “hold” rating on the stock in a research note on Wednesday, December 18th. Needham & Company LLC restated a “hold” rating on shares of Medtronic in a research note on Wednesday, February 19th. Finally, Robert W. Baird upped their price target on shares of Medtronic from $90.00 to $91.00 and gave the stock a “neutral” rating in a research report on Wednesday, February 19th. One research analyst has rated the stock with a sell rating, eight have issued a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, Medtronic has an average rating of “Hold” and an average price target of $96.07.

Medtronic Trading Down 5.7 %

Shares of NYSE MDT opened at $82.86 on Monday. The company’s 50 day simple moving average is $90.87 and its 200 day simple moving average is $87.93. The company has a debt-to-equity ratio of 0.48, a current ratio of 1.90 and a quick ratio of 1.39. Medtronic plc has a fifty-two week low of $75.96 and a fifty-two week high of $96.25. The firm has a market capitalization of $106.28 billion, a P/E ratio of 25.19, a P/E/G ratio of 2.22 and a beta of 0.79.

Medtronic (NYSE:MDT) last announced its quarterly earnings results 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 business had revenue of $8.29 billion for the quarter, compared to the consensus estimate of $8.33 billion. Medtronic had a net margin of 12.83% and a return on equity of 14.07%. On average, analysts predict that Medtronic plc will post 5.46 EPS for the current year.

Medtronic Announces Dividend

The firm also recently declared 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 is Friday, March 28th. This represents a $2.80 annualized dividend and a dividend yield of 3.38%. Medtronic’s dividend payout ratio (DPR) is currently 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 shares were sold at an average price of $90.00, for a total transaction of $1,119,330.00. Following the completion of the sale, the executive vice president now owns 40,979 shares of the company’s stock, valued at $3,688,110. This represents a 23.28 % decrease in their ownership of the stock. The sale 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 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.