Clifford Swan Investment Counsel LLC Has $345,000 Position in Medtronic plc (NYSE:MDT)

Clifford Swan Investment Counsel LLC reduced its stake in Medtronic plc (NYSE:MDT) by 34.5% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 4,187 shares of the medical technology company’s stock after selling 2,201 shares during the period. Clifford Swan Investment Counsel LLC’s holdings in Medtronic were worth $345,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently made changes to their positions in the stock. Loudon Investment Management LLC lifted its stake in shares of Medtronic by 9.5% in the 4th quarter. Loudon Investment Management LLC now owns 10,026 shares of the medical technology company’s stock valued at $786,000 after acquiring an additional 874 shares during the last quarter. BKM Wealth Management LLC bought a new stake in shares of Medtronic during the fourth quarter worth about $941,000. International Assets Investment Management LLC increased its stake in shares of Medtronic by 8,340.3% in the fourth 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 buying an additional 1,026,274 shares during the period. Tower Research Capital LLC TRC raised its holdings 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 buying an additional 16,574 shares during the last quarter. Finally, Exchange Traded Concepts LLC boosted its position in Medtronic by 109,325.0% during the 4th quarter. Exchange Traded Concepts LLC now owns 91,917 shares of the medical technology company’s stock worth $7,572,000 after buying an additional 91,833 shares during the period. 82.06% of the stock is owned by institutional investors.

Analysts Set New Price Targets

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

Medtronic Trading Up 0.1 %

Shares of NYSE MDT traded up $0.07 during midday trading on Monday, reaching $81.76. The company had a trading volume of 3,676,099 shares, compared to its average volume of 6,199,255. The firm’s fifty day moving average price is $83.08 and its 200-day moving average price is $81.56. 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 one year low of $68.84 and a one year high of $91.00. The stock has a market cap of $108.56 billion, a PE ratio of 25.89, a price-to-earnings-growth ratio of 2.66 and a beta of 0.78.

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

Medtronic Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, April 12th. Stockholders of record on Friday, March 22nd were given a $0.69 dividend. This represents a $2.76 annualized dividend and a dividend yield of 3.38%. The ex-dividend date of this dividend was Thursday, March 21st. Medtronic’s dividend payout ratio is currently 87.90%.

Insider Activity at Medtronic

In related news, EVP Sean Salmon sold 30,695 shares of the 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 transaction, the executive vice president now directly owns 48,289 shares in the company, valued at approximately $4,110,842.57. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other news, EVP Michael Marinaro sold 854 shares of the 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 transaction, the executive vice president now owns 27,925 shares in the company, valued at approximately $2,321,684.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Sean Salmon sold 30,695 shares of Medtronic stock in a transaction that occurred 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 transaction, the executive vice president now directly owns 48,289 shares in the company, 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 corporate insiders.

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.