Medtronic plc (NYSE:MDT) Stock Holdings Decreased by Cromwell Holdings LLC

Cromwell Holdings LLC reduced its position in Medtronic plc (NYSE:MDT) by 21.0% during the 4th quarter, HoldingsChannel.com reports. The fund owned 2,293 shares of the medical technology company’s stock after selling 611 shares during the quarter. Cromwell Holdings LLC’s holdings in Medtronic were worth $183,000 at the end of the most recent quarter.

Several other institutional investors have also made changes to their positions in the company. Clear Harbor Asset Management LLC increased its position in shares of Medtronic by 1.2% in the third quarter. Clear Harbor Asset Management LLC now owns 9,558 shares of the medical technology company’s stock worth $861,000 after acquiring an additional 111 shares in the last quarter. Guardian Wealth Management Inc. increased its position in shares of Medtronic by 0.9% in the third quarter. Guardian Wealth Management Inc. now owns 13,131 shares of the medical technology company’s stock worth $1,182,000 after acquiring an additional 115 shares in the last quarter. First City Capital Management Inc. increased its position in shares of Medtronic by 2.9% in the third quarter. First City Capital Management Inc. now owns 4,123 shares of the medical technology company’s stock worth $371,000 after acquiring an additional 116 shares in the last quarter. Hardy Reed LLC increased its position in shares of Medtronic by 4.4% in the third quarter. Hardy Reed LLC now owns 2,743 shares of the medical technology company’s stock worth $247,000 after acquiring an additional 116 shares in the last quarter. Finally, Lake Street Advisors Group LLC increased its position in shares of Medtronic by 2.0% in the third quarter. Lake Street Advisors Group LLC now owns 6,024 shares of the medical technology company’s stock worth $547,000 after acquiring an additional 118 shares in the last quarter. 82.06% of the stock is owned by hedge funds and other institutional investors.

Medtronic Price Performance

NYSE MDT opened at $88.14 on Friday. The company has a current ratio of 1.90, a quick ratio of 1.39 and a debt-to-equity ratio of 0.48. The company has a fifty day simple moving average of $85.93 and a 200 day simple moving average of $87.03. The company has a market cap of $113.02 billion, a P/E ratio of 26.79, a P/E/G ratio of 2.46 and a beta of 0.84. Medtronic plc has a 1 year low of $75.96 and a 1 year high of $93.08.

Medtronic (NYSE:MDT) last posted its quarterly earnings data on Tuesday, February 18th. The medical technology company reported $1.39 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.36 by $0.03. The business had revenue of $8.29 billion during the quarter, compared to the consensus estimate of $8.33 billion. Medtronic had a net margin of 12.83% and a return on equity of 14.07%. On average, sell-side analysts predict that Medtronic plc will post 5.46 EPS for the current year.

Medtronic Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, January 10th. Investors of record on Friday, December 27th were issued a dividend of $0.70 per share. This represents a $2.80 annualized dividend and a dividend yield of 3.18%. The ex-dividend date of this dividend was Friday, December 27th. Medtronic’s dividend payout ratio is currently 85.11%.

Insider Buying and Selling

In other Medtronic news, EVP Brett A. Wall sold 12,437 shares of the stock in a transaction on Friday, January 24th. The shares were sold at an average price of $90.00, for a total value of $1,119,330.00. Following the completion of the sale, the executive vice president now directly owns 40,979 shares of the company’s stock, valued at $3,688,110. This represents a 23.28 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.20% of the stock is owned by insiders.

Analyst Ratings Changes

Several research analysts have recently weighed in on the stock. Wells Fargo & Company dropped their target price on shares of Medtronic from $106.00 to $98.00 and set an “overweight” rating on the stock in a research report on Wednesday, November 20th. JPMorgan Chase & Co. dropped their price objective on shares of Medtronic from $99.00 to $96.00 and set a “neutral” rating on the stock in a research note on Friday, November 15th. Sanford C. Bernstein upped their price objective on shares of Medtronic from $96.00 to $97.00 and gave the company an “outperform” rating in a research note on Wednesday, November 20th. Truist Financial dropped their price objective on shares of Medtronic from $93.00 to $89.00 and set a “hold” rating on the stock in a research note on Wednesday, December 18th. Finally, Needham & Company LLC reiterated a “hold” rating on shares of Medtronic in a research note on Wednesday. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $95.20.

Medtronic 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.