Kesler Norman & Wride LLC Sells 42,554 Shares of Medtronic PLC $MDT

Kesler Norman & Wride LLC reduced its holdings in Medtronic PLC (NYSE:MDT) by 74.9% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 14,277 shares of the medical technology company’s stock after selling 42,554 shares during the period. Kesler Norman & Wride LLC’s holdings in Medtronic were worth $1,371,000 as of its most recent SEC filing.

Other institutional investors also recently added to or reduced their stakes in the company. Lodestone Wealth Management LLC bought a new position in Medtronic in the 4th quarter worth approximately $27,000. Anfield Capital Management LLC increased its position in Medtronic by 410.7% in the 4th quarter. Anfield Capital Management LLC now owns 286 shares of the medical technology company’s stock worth $27,000 after buying an additional 230 shares during the period. Board of the Pension Protection Fund bought a new position in Medtronic in the 4th quarter worth approximately $29,000. GoalVest Advisory LLC bought a new stake in shares of Medtronic during the fourth quarter valued at approximately $29,000. Finally, Imprint Wealth LLC acquired a new position in shares of Medtronic in the third quarter valued at $31,000. 82.06% of the stock is owned by institutional investors.

Medtronic Stock Performance

Shares of NYSE:MDT opened at $73.72 on Wednesday. The business’s fifty day moving average price is $82.11 and its two-hundred day moving average price is $92.49. Medtronic PLC has a fifty-two week low of $73.31 and a fifty-two week high of $106.33. The stock has a market capitalization of $94.65 billion, a price-to-earnings ratio of 20.54, a price-to-earnings-growth ratio of 1.76 and a beta of 0.58. The company has a debt-to-equity ratio of 0.57, a current ratio of 2.54 and a quick ratio of 1.87.

Medtronic Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, April 17th. Stockholders of record on Friday, March 27th were issued a dividend of $0.71 per share. This represents a $2.84 annualized dividend and a dividend yield of 3.9%. The ex-dividend date was Friday, March 27th. Medtronic’s dividend payout ratio is presently 79.11%.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on the stock. Barclays lifted their price target on shares of Medtronic from $118.00 to $120.00 and gave the stock an “overweight” rating in a research note on Wednesday, April 1st. Daiwa Securities Group decreased their price target on shares of Medtronic from $117.00 to $115.00 and set a “buy” rating on the stock in a research note on Friday, February 27th. Evercore set a $106.00 price target on shares of Medtronic and gave the stock an “outperform” rating in a research note on Thursday, April 9th. Jefferies Financial Group reiterated a “hold” rating and set a $95.00 price target on shares of Medtronic in a research note on Thursday, April 23rd. Finally, The Goldman Sachs Group set a $84.00 price target on shares of Medtronic and gave the stock a “neutral” rating in a research note on Thursday, May 21st. Fifteen investment analysts have rated the stock with a Buy rating and eleven have assigned a Hold rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $106.45.

About Medtronic

Medtronic plc is a global medical technology company that develops and manufactures a broad range of therapeutic devices and health care solutions. Headquartered legally in Ireland with principal operational offices in the United States, the company markets products to hospitals, physicians and health systems worldwide and has grown from its founding in 1949 into one of the largest medical-device manufacturers serving global health-care markets.

Medtronic’s offerings span several clinical areas, including cardiac rhythm and heart failure (pacemakers, implantable cardioverter‑defibrillators and related cardiac therapies), minimally invasive and surgical technologies (laparoscopic and advanced energy devices, visualization systems and surgical innovations), restorative therapies (spine and orthopedics, neuromodulation and neurovascular treatments) and diabetes management (insulin-delivery systems and glucose monitoring solutions).