Transcend Capital Advisors LLC trimmed its holdings in Medtronic plc (NYSE:MDT - Free Report) by 13.5% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 61,911 shares of the medical technology company's stock after selling 9,644 shares during the quarter. Transcend Capital Advisors LLC's holdings in Medtronic were worth $4,945,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other large investors also recently bought and sold shares of the company. Copley Financial Group Inc. bought a new position in Medtronic in the 3rd quarter worth about $694,000. Olstein Capital Management L.P. lifted its stake in shares of Medtronic by 19.2% in the third quarter. Olstein Capital Management L.P. now owns 87,000 shares of the medical technology company's stock worth $7,833,000 after buying an additional 14,000 shares in the last quarter. Franklin Street Advisors Inc. NC grew its holdings in shares of Medtronic by 32.6% during the fourth quarter. Franklin Street Advisors Inc. NC now owns 73,517 shares of the medical technology company's stock valued at $5,873,000 after buying an additional 18,057 shares during the last quarter. Y Intercept Hong Kong Ltd raised its holdings in Medtronic by 322.6% in the 3rd quarter. Y Intercept Hong Kong Ltd now owns 73,593 shares of the medical technology company's stock worth $6,626,000 after acquiring an additional 56,178 shares during the last quarter. Finally, Czech National Bank lifted its position in Medtronic by 6.4% in the 4th quarter. Czech National Bank now owns 278,065 shares of the medical technology company's stock valued at $22,212,000 after acquiring an additional 16,786 shares in the last quarter. 82.06% of the stock is owned by hedge funds and other institutional investors.
In related news, EVP Brett A. Wall sold 12,437 shares of Medtronic stock in a transaction dated 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 completion of the transaction, the executive vice president now owns 40,979 shares in the company, valued at approximately $3,688,110. This trade represents a 23.28 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 0.20% of the stock is currently owned by company insiders.
Shares of MDT opened at $88.14 on Friday. Medtronic plc has a 1 year low of $75.96 and a 1 year high of $93.08. The company has a 50 day simple moving average of $85.93 and a two-hundred day simple moving average of $87.03. The company has a debt-to-equity ratio of 0.48, a current ratio of 1.90 and a quick ratio of 1.39. The firm has a market cap of $113.02 billion, a P/E ratio of 26.79, a price-to-earnings-growth ratio of 2.46 and a beta of 0.84.
Medtronic (NYSE:MDT - Get Free Report) last posted its earnings results on Tuesday, February 18th. The medical technology company reported $1.39 EPS for the quarter, topping analysts' consensus estimates of $1.36 by $0.03. The company had revenue of $8.29 billion for the quarter, compared to the consensus estimate of $8.33 billion. Medtronic had a return on equity of 14.07% and a net margin of 12.83%. On average, equities analysts expect that Medtronic plc will post 5.46 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Friday, January 10th. Investors of record on Friday, December 27th were issued a $0.70 dividend. This represents a $2.80 dividend on an annualized basis and a dividend yield of 3.18%. The ex-dividend date of this dividend was Friday, December 27th. Medtronic's dividend payout ratio (DPR) is presently 85.11%.
A number of analysts have commented on MDT shares. Sanford C. Bernstein lifted their target price on Medtronic from $96.00 to $97.00 and gave the stock an "outperform" rating in a report on Wednesday, November 20th. Truist Financial decreased their target price on Medtronic from $93.00 to $89.00 and set a "hold" rating for the company in a research report on Wednesday, December 18th. Royal Bank of Canada reaffirmed an "outperform" rating and issued a $105.00 target price on shares of Medtronic in a research report on Wednesday. JPMorgan Chase & Co. lowered their target price on Medtronic from $99.00 to $96.00 and set a "neutral" rating on the stock in a report on Friday, November 15th. Finally, Wells Fargo & Company cut their price target on Medtronic from $106.00 to $98.00 and set an "overweight" rating for the company in a research note on Wednesday, November 20th. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, Medtronic presently has a consensus rating of "Hold" and a consensus target price of $95.20.
View Our Latest Stock Report on 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.
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