DGS Capital Management LLC Sells 984 Shares of Medtronic plc (NYSE:MDT)

DGS Capital Management LLC lessened its stake in shares of Medtronic plc (NYSE:MDT) by 25.5% during the fourth quarter, Holdings Channel.com reports. The firm owned 2,878 shares of the medical technology company’s stock after selling 984 shares during the period. DGS Capital Management LLC’s holdings in Medtronic were worth $237,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. BKM Wealth Management LLC bought a new position in Medtronic in the 4th quarter valued at about $941,000. International Assets Investment Management LLC lifted its position in Medtronic by 8,340.3% in the 4th quarter. International Assets Investment Management LLC now owns 1,038,579 shares of the medical technology company’s stock valued at $85,558,000 after acquiring an additional 1,026,274 shares in the last quarter. Tower Research Capital LLC TRC lifted its position in Medtronic by 69.3% in the 3rd quarter. Tower Research Capital LLC TRC now owns 40,476 shares of the medical technology company’s stock valued at $3,172,000 after acquiring an additional 16,574 shares in the last quarter. Ropes Wealth Advisors LLC lifted its position in Medtronic by 21.4% in the 3rd quarter. Ropes Wealth Advisors LLC now owns 7,205 shares of the medical technology company’s stock valued at $565,000 after acquiring an additional 1,269 shares in the last quarter. Finally, Exchange Traded Concepts LLC lifted its position in Medtronic by 109,325.0% in the 4th quarter. Exchange Traded Concepts LLC now owns 91,917 shares of the medical technology company’s stock valued at $7,572,000 after acquiring an additional 91,833 shares in the last quarter. Institutional investors own 82.06% of the company’s stock.

Medtronic Trading Down 1.2 %

Shares of MDT stock opened at $79.25 on Wednesday. The company has a 50 day moving average of $84.35 and a 200-day moving average of $81.02. The company has a quick ratio of 1.71, a current ratio of 2.30 and a debt-to-equity ratio of 0.46. Medtronic plc has a 12-month low of $68.84 and a 12-month high of $92.02. The firm has a market cap of $105.23 billion, a P/E ratio of 25.24, a PEG ratio of 2.74 and a beta of 0.76.

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, beating 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 analyst estimates of $7.95 billion. During the same period in the previous year, the business earned $1.30 EPS. Medtronic’s revenue was up 4.7% compared to the same quarter last year. Sell-side analysts anticipate that Medtronic plc will post 5.2 earnings per share for the current year.

Medtronic Dividend Announcement

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

Insider Activity at Medtronic

In related news, EVP Michael Marinaro sold 854 shares of Medtronic 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 completion of the transaction, 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 can be accessed 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 completion of 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 legal filing with the SEC, which can be accessed through the SEC website. Also, EVP Sean Salmon sold 30,695 shares of the firm’s stock in a transaction on 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 completion of the transaction, the executive vice president now directly owns 48,289 shares of the company’s stock, valued at $4,110,842.57. The disclosure for this sale can be found here. 0.30% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on MDT. Mizuho raised their price target 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. Truist Financial lifted their target price on shares of Medtronic from $87.00 to $90.00 and gave the stock a “hold” rating in a research report on Wednesday, February 21st. Oppenheimer lifted their target price on shares of Medtronic from $89.00 to $92.00 and gave the stock a “market perform” rating in a research report on Wednesday, February 21st. Finally, Royal Bank of Canada reissued a “sector perform” rating and set a $92.00 target price on shares of Medtronic in a research report on Wednesday, February 21st. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price 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.