Medtronic plc (NYSE:MDT) Stock Position Trimmed by Donaldson Capital Management LLC

Donaldson Capital Management LLC decreased its position in Medtronic plc (NYSE:MDT) by 91.3% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 3,411 shares of the medical technology company’s stock after selling 35,649 shares during the period. Donaldson Capital Management LLC’s holdings in Medtronic were worth $281,000 as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in MDT. Capital Analysts LLC boosted its holdings in shares of Medtronic by 1.5% in the fourth quarter. Capital Analysts LLC now owns 89,394 shares of the medical technology company’s stock valued at $7,364,000 after acquiring an additional 1,337 shares in the last quarter. Mackenzie Financial Corp increased its position in shares of Medtronic by 11.5% during the 4th quarter. Mackenzie Financial Corp now owns 477,512 shares of the medical technology company’s stock valued at $39,337,000 after purchasing an additional 49,270 shares during the period. Syntax Research Inc. raised its stake in shares of Medtronic by 4.1% in the 4th quarter. Syntax Research Inc. now owns 5,814 shares of the medical technology company’s stock worth $479,000 after buying an additional 228 shares in the last quarter. Cullen Investment Group LTD. acquired a new stake in shares of Medtronic in the fourth quarter valued at $5,618,000. Finally, Cornercap Investment Counsel Inc. bought a new position in Medtronic during the fourth quarter valued at about $943,000. Institutional investors and hedge funds own 82.06% of the company’s stock.

Wall Street Analyst Weigh In

MDT has been the topic of several recent research reports. Oppenheimer lifted their price objective on shares of Medtronic from $89.00 to $92.00 and gave the stock a “market perform” rating in a research note on Wednesday, February 21st. Truist Financial boosted their price target on shares of Medtronic from $87.00 to $90.00 and gave the company a “hold” rating in a report on Wednesday, February 21st. Mizuho raised their price objective on Medtronic from $95.00 to $98.00 and gave the stock a “buy” rating in a research report on Wednesday, February 21st. Finally, Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $92.00 price target on shares of Medtronic in a research note on Wednesday, February 21st. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat.com, Medtronic has a consensus rating of “Moderate Buy” and an average target price of $94.91.

Insider Activity

In other Medtronic news, EVP Michael Marinaro sold 854 shares of Medtronic stock in a transaction that occurred on Monday, April 8th. The stock was sold at an average price of $83.14, for a total value of $71,001.56. Following the transaction, the executive vice president now directly owns 27,925 shares of the company’s stock, valued at approximately $2,321,684.50. The sale was disclosed in a document filed with the SEC, which is accessible through this link. In other Medtronic news, EVP Michael Marinaro sold 854 shares of the firm’s stock in a transaction on Monday, April 8th. The shares were sold at an average price of $83.14, for a total value of $71,001.56. Following the sale, the executive vice president now directly owns 27,925 shares in the company, valued at approximately $2,321,684.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, 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 transaction of $2,613,065.35. Following the transaction, the executive vice president now directly owns 48,289 shares of the company’s stock, valued at approximately $4,110,842.57. The disclosure for this sale can be found here. 0.30% of the stock is currently owned by company insiders.

Medtronic Stock Down 1.3 %

NYSE MDT traded down $1.02 during trading on Tuesday, hitting $79.21. 1,390,635 shares of the company traded hands, compared to its average volume of 6,232,924. The company has a market capitalization of $105.18 billion, a P/E ratio of 25.55, a PEG ratio of 2.74 and a beta of 0.76. The business has a fifty day simple moving average of $84.52 and a 200 day simple moving average of $81.02. Medtronic plc has a 12 month low of $68.84 and a 12 month high of $92.02. 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 issued 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 business had revenue of $8.09 billion during the quarter, compared to analysts’ expectations of $7.95 billion. During the same period in the previous year, the company earned $1.30 earnings per share. Medtronic’s revenue for the quarter was up 4.7% on a year-over-year basis. As a group, sell-side analysts predict that Medtronic plc will post 5.2 EPS for the current year.

Medtronic Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, April 12th. Shareholders of record on Friday, March 22nd were issued a dividend of $0.69 per share. This represents a $2.76 dividend on an annualized basis and a yield of 3.48%. The ex-dividend date of this dividend was Thursday, March 21st. Medtronic’s dividend payout ratio (DPR) is 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.