Medtronic plc (NYSE:MDT) Shares Sold by SNS Financial Group LLC

SNS Financial Group LLC reduced its position in shares of Medtronic plc (NYSE:MDT) by 10.1% during the 4th quarter, HoldingsChannel reports. The fund owned 15,287 shares of the medical technology company’s stock after selling 1,723 shares during the period. SNS Financial Group LLC’s holdings in Medtronic were worth $1,232,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently modified their holdings of MDT. Fortitude Family Office LLC acquired a new position in Medtronic during the third quarter worth $27,000. Highline Wealth Partners LLC purchased a new stake in shares of Medtronic during the third quarter worth about $27,000. Darwin Wealth Management LLC acquired a new position in shares of Medtronic during the 3rd quarter worth about $27,000. Stephens Consulting LLC lifted its stake in Medtronic by 145.7% in the 4th quarter. Stephens Consulting LLC now owns 344 shares of the medical technology company’s stock valued at $27,000 after buying an additional 204 shares in the last quarter. Finally, J. Stern & Co. LLP acquired a new stake in Medtronic in the 3rd quarter worth about $30,000. 82.06% of the stock is currently owned by institutional investors and hedge funds.

Medtronic Trading Up 1.1 %

Shares of Medtronic stock opened at $87.05 on Thursday. The stock has a 50 day moving average of $85.82 and a 200 day moving average of $87.02. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.39 and a current ratio of 1.84. The firm has a market capitalization of $111.62 billion, a price-to-earnings ratio of 26.62, a PEG ratio of 2.63 and a beta of 0.84. Medtronic plc has a fifty-two week low of $75.96 and a fifty-two week high of $93.08.

Medtronic (NYSE:MDT) last released its quarterly earnings results on Tuesday, February 18th. The medical technology company reported $1.39 earnings per share for the quarter, topping analysts’ consensus estimates of $1.36 by $0.03. The business had revenue of $8.29 billion during the quarter, compared to analysts’ expectations of $8.33 billion. Medtronic had a return on equity of 13.79% and a net margin of 13.00%. As a group, research analysts predict that Medtronic plc will post 5.45 earnings per share for the current year.

Medtronic Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, January 10th. Stockholders of record on Friday, December 27th were paid a $0.70 dividend. This represents a $2.80 dividend on an annualized basis and a dividend yield of 3.22%. The ex-dividend date of this dividend was Friday, December 27th. Medtronic’s dividend payout ratio (DPR) is 85.63%.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on MDT shares. Robert W. Baird increased their target price on Medtronic from $90.00 to $91.00 and gave the company a “neutral” rating in a report on Wednesday. JPMorgan Chase & Co. decreased their price objective on Medtronic from $99.00 to $96.00 and set a “neutral” rating on the stock in a report on Friday, November 15th. UBS Group upped their target price on shares of Medtronic from $85.00 to $95.00 and gave the stock a “neutral” rating in a report on Wednesday. Truist Financial decreased their price target 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, 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. One analyst has rated the stock with a sell rating, nine have assigned a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, Medtronic has a consensus rating of “Hold” and an average price target of $95.20.

Insider Transactions at Medtronic

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

About Medtronic

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.