Bison Wealth LLC Cuts Stake in Medtronic plc (NYSE:MDT)

Bison Wealth LLC lowered its position in shares of Medtronic plc (NYSE:MDT) by 5.2% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 5,647 shares of the medical technology company’s stock after selling 307 shares during the quarter. Bison Wealth LLC’s holdings in Medtronic were worth $465,000 as of its most recent filing with the SEC.

A number of other large investors also recently bought and sold shares of the company. Syntax Research Inc. raised its position in Medtronic by 4.1% during 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 during the last quarter. Cullen Investment Group LTD. purchased a new position in shares of Medtronic in the 4th quarter valued at about $5,618,000. Cornercap Investment Counsel Inc. purchased a new position in shares of Medtronic in the 4th quarter valued at about $943,000. Strs Ohio increased its holdings in shares of Medtronic by 23.3% in the 4th quarter. Strs Ohio now owns 994,593 shares of the medical technology company’s stock valued at $81,934,000 after purchasing an additional 188,154 shares in the last quarter. Finally, Conning Inc. increased its holdings in shares of Medtronic by 4.4% in the 4th quarter. Conning Inc. now owns 35,108 shares of the medical technology company’s stock valued at $2,892,000 after purchasing an additional 1,490 shares in the last quarter. Hedge funds and other institutional investors own 82.06% of the company’s stock.

Insider Buying and Selling

In related news, EVP Michael Marinaro sold 854 shares of the firm’s stock in a transaction that occurred 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 of the company’s stock, valued at $2,321,684.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, EVP Michael Marinaro sold 854 shares of the firm’s stock in a transaction that occurred 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 of the company’s stock, valued at $2,321,684.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Sean Salmon sold 30,695 shares of the firm’s stock in a transaction that occurred on Wednesday, February 21st. The stock was sold at an average price of $85.13, for a total transaction of $2,613,065.35. Following the completion of the sale, the executive vice president now directly owns 48,289 shares in the company, valued at $4,110,842.57. The disclosure for this sale can be found here. Corporate insiders own 0.30% of the company’s stock.

Medtronic Price Performance

Medtronic stock opened at $79.25 on Wednesday. Medtronic plc has a 12-month low of $68.84 and a 12-month high of $92.02. The stock has a market capitalization of $105.23 billion, a P/E ratio of 25.24, a P/E/G ratio of 2.74 and a beta of 0.76. The firm’s 50-day moving average is $84.35 and its two-hundred day moving average is $81.02. The company has a debt-to-equity ratio of 0.46, a current ratio of 2.30 and a quick ratio of 1.71.

Medtronic (NYSE:MDT) last released its quarterly earnings results on Tuesday, February 20th. The medical technology company reported $1.30 earnings per share (EPS) for the quarter, topping the consensus estimate 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 for the quarter, compared to analysts’ expectations of $7.95 billion. During the same period last year, the company earned $1.30 EPS. The firm’s revenue for the quarter was up 4.7% compared to the same quarter last year. Equities analysts predict that Medtronic plc will post 5.2 earnings per share for the current year.

Medtronic Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, April 12th. Investors of record on Friday, March 22nd were given a $0.69 dividend. The ex-dividend date of this dividend was Thursday, March 21st. This represents a $2.76 annualized dividend and a dividend yield of 3.48%. Medtronic’s dividend payout ratio is presently 87.90%.

Wall Street Analysts Forecast Growth

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

Medtronic Company 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.