Tufton Capital Management Has $6.24 Million Stock Holdings in Medtronic plc (NYSE:MDT)

Tufton Capital Management decreased its stake in shares of Medtronic plc (NYSE:MDT) by 4.0% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 75,715 shares of the medical technology company’s stock after selling 3,150 shares during the period. Tufton Capital Management’s holdings in Medtronic were worth $6,237,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. Peterson Wealth Services bought a new stake in shares of Medtronic during the fourth quarter valued at approximately $1,227,000. Daiwa Securities Group Inc. boosted its position in Medtronic by 8.1% in the 4th quarter. Daiwa Securities Group Inc. now owns 123,018 shares of the medical technology company’s stock valued at $10,135,000 after buying an additional 9,245 shares during the last quarter. Telos Capital Management Inc. increased its stake in shares of Medtronic by 1.7% in the 4th quarter. Telos Capital Management Inc. now owns 120,184 shares of the medical technology company’s stock valued at $9,901,000 after buying an additional 1,993 shares during the period. KLCM Advisors Inc. raised its position in shares of Medtronic by 3.5% during the fourth quarter. KLCM Advisors Inc. now owns 219,285 shares of the medical technology company’s stock worth $18,065,000 after acquiring an additional 7,412 shares during the last quarter. Finally, Rakuten Securities Inc. acquired a new position in shares of Medtronic during the fourth quarter valued at $49,000. Institutional investors own 82.06% of the company’s stock.

Wall Street Analyst Weigh In

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

Insider Buying and Selling

In other Medtronic news, EVP Michael Marinaro sold 854 shares of the business’s 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 sale, the executive vice president now 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 available at this hyperlink. In other 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 sale, the executive vice president now directly owns 27,925 shares in the company, valued at $2,321,684.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available 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 approximately $4,110,842.57. The disclosure for this sale can be found here. 0.30% of the stock is owned by corporate insiders.

Medtronic Stock Down 0.4 %

Shares of MDT traded down $0.28 on Thursday, hitting $78.80. The company’s stock had a trading volume of 1,710,651 shares, compared to its average volume of 6,254,464. The firm’s fifty day moving average price is $84.18 and its 200-day moving average price is $81.01. Medtronic plc has a fifty-two week low of $68.84 and a fifty-two week high of $92.02. The company has a quick ratio of 1.71, a current ratio of 2.30 and a debt-to-equity ratio of 0.46. The firm has a market capitalization of $104.63 billion, a price-to-earnings ratio of 25.18, a P/E/G ratio of 2.71 and a beta of 0.76.

Medtronic (NYSE:MDT) last released its quarterly earnings results on Tuesday, February 20th. The medical technology company reported $1.30 earnings per share for the quarter, beating 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 during the quarter, compared to analysts’ expectations of $7.95 billion. During the same quarter in the prior year, the company earned $1.30 earnings per share. The business’s quarterly revenue was up 4.7% compared to the same quarter last year. On average, equities research analysts expect that Medtronic plc will post 5.2 EPS for the current year.

Medtronic Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, April 12th. Stockholders of record on Friday, March 22nd were given a dividend of $0.69 per share. The ex-dividend date was Thursday, March 21st. This represents a $2.76 annualized dividend and a dividend yield of 3.50%. Medtronic’s dividend payout ratio is currently 87.90%.

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.