Courier Capital LLC Sells 384 Shares of Medtronic plc (NYSE:MDT)

Courier Capital LLC lessened its holdings in Medtronic plc (NYSE:MDT) by 0.9% during the 4th quarter, HoldingsChannel reports. The firm owned 41,089 shares of the medical technology company’s stock after selling 384 shares during the period. Courier Capital LLC’s holdings in Medtronic were worth $3,385,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of the business. State Street Corp increased its position in Medtronic by 0.3% in the second quarter. State Street Corp now owns 60,146,861 shares of the medical technology company’s stock worth $5,339,879,000 after purchasing an additional 175,765 shares during the last quarter. Morgan Stanley increased its position in Medtronic by 9.2% in the third quarter. Morgan Stanley now owns 23,777,808 shares of the medical technology company’s stock worth $1,863,229,000 after purchasing an additional 1,994,123 shares during the last quarter. Bank of New York Mellon Corp increased its position in Medtronic by 2.6% in the third quarter. Bank of New York Mellon Corp now owns 20,392,467 shares of the medical technology company’s stock worth $1,597,954,000 after purchasing an additional 508,205 shares during the last quarter. Moneta Group Investment Advisors LLC increased its position in Medtronic by 127,655.1% in the fourth quarter. Moneta Group Investment Advisors LLC now owns 14,160,371 shares of the medical technology company’s stock worth $1,100,544,000 after purchasing an additional 14,149,287 shares during the last quarter. Finally, Norges Bank bought a new position in Medtronic during the fourth quarter valued at $1,062,316,000. Institutional investors own 82.06% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have weighed in on the stock. Royal Bank of Canada reiterated a “sector perform” rating and set a $92.00 price objective on shares of Medtronic in a research report on Wednesday, February 21st. Mizuho boosted their price objective on shares of Medtronic from $95.00 to $98.00 and gave the company a “buy” rating in a research report on Wednesday, February 21st. Oppenheimer boosted their price objective on shares of Medtronic from $89.00 to $92.00 and gave the company a “market perform” rating in a research report on Wednesday, February 21st. Finally, Truist Financial boosted their price objective on shares of Medtronic from $87.00 to $90.00 and gave the company a “hold” rating in a research report on Wednesday, February 21st. One research analyst has rated the stock with a sell rating, four have given a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat, Medtronic currently has an average rating of “Moderate Buy” and a consensus price target of $94.91.

Insider Buying and Selling

In related news, EVP Sean Salmon sold 30,695 shares of the company’s stock in a transaction dated Wednesday, February 21st. The shares were sold at an average price of $85.13, for a total value of $2,613,065.35. Following the completion of the sale, the executive vice president now directly owns 48,289 shares of the company’s stock, valued at $4,110,842.57. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 0.30% of the stock is owned by insiders.

Medtronic Stock Up 3.8 %

Shares of MDT opened at $86.92 on Thursday. Medtronic plc has a 12-month low of $68.84 and a 12-month high of $92.02. The firm has a fifty day moving average price of $85.21 and a 200-day moving average price of $80.68. The firm has a market capitalization of $115.41 billion, a P/E ratio of 27.68, a P/E/G ratio of 2.86 and a beta of 0.76. The company has a current ratio of 2.30, a quick ratio of 1.71 and a debt-to-equity ratio of 0.46.

Medtronic (NYSE:MDT) last released its quarterly earnings data on Tuesday, February 20th. The medical technology company reported $1.30 earnings per share for the quarter, topping analysts’ consensus estimates of $1.26 by $0.04. Medtronic had a net margin of 13.00% and a return on equity of 13.71%. The company had revenue of $8.09 billion during the quarter, compared to analyst estimates of $7.95 billion. During the same period in the prior year, the firm earned $1.30 earnings per share. The firm’s revenue for the quarter was up 4.7% compared to the same quarter last year. Equities research analysts expect that Medtronic plc will post 5.2 earnings per share for the current year.

Medtronic Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, April 12th. Investors of record on Friday, March 22nd will be paid a $0.69 dividend. This represents a $2.76 dividend on an annualized basis and a yield of 3.18%. The ex-dividend date of this dividend is Thursday, March 21st. Medtronic’s dividend payout ratio (DPR) is presently 87.90%.

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.