Desjardins Global Asset Management Inc. Sells 1,051 Shares of Medtronic plc (NYSE:MDT)

Desjardins Global Asset Management Inc. reduced its position in Medtronic plc (NYSE:MDT) by 4.3% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 23,232 shares of the medical technology company’s stock after selling 1,051 shares during the quarter. Desjardins Global Asset Management Inc.’s holdings in Medtronic were worth $1,914,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in the company. Marino Stram & Associates LLC raised its holdings in shares of Medtronic by 1.8% during the 4th quarter. Marino Stram & Associates LLC now owns 7,127 shares of the medical technology company’s stock worth $587,000 after buying an additional 126 shares in the last quarter. St. James Investment Company LLC grew its position in Medtronic by 20.5% in the fourth quarter. St. James Investment Company LLC now owns 385,160 shares of the medical technology company’s stock valued at $31,729,000 after acquiring an additional 65,570 shares during the last quarter. LifePlan Financial LLC acquired a new position in Medtronic during the fourth quarter worth about $1,497,000. VELA Investment Management LLC lifted its holdings in shares of Medtronic by 14.5% in the fourth quarter. VELA Investment Management LLC now owns 40,401 shares of the medical technology company’s stock worth $3,328,000 after acquiring an additional 5,127 shares during the last quarter. Finally, Capital Analysts LLC lifted its position in shares of Medtronic by 1.5% in the 4th quarter. Capital Analysts LLC now owns 89,394 shares of the medical technology company’s stock worth $7,364,000 after purchasing an additional 1,337 shares during the period. 82.06% of the stock is owned by institutional investors.

Insider Buying and Selling

In related news, EVP Michael Marinaro sold 854 shares of the firm’s stock in a transaction dated Monday, April 8th. The shares were sold at an average price of $83.14, for a total transaction of $71,001.56. Following the transaction, the executive vice president now directly owns 27,925 shares of the company’s stock, valued at $2,321,684.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, EVP Michael Marinaro sold 854 shares of the company’s stock in a transaction that occurred on Monday, April 8th. The stock was sold at an average price of $83.14, for a total value of $71,001.56. Following the completion of the transaction, the executive vice president now directly owns 27,925 shares of the company’s stock, valued at $2,321,684.50. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, EVP Sean Salmon sold 30,695 shares of the business’s stock in a transaction on Wednesday, February 21st. The stock was 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 disclosure for this sale can be found here. 0.30% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

MDT has been the subject of several recent analyst reports. Oppenheimer increased their price objective on shares of Medtronic from $89.00 to $92.00 and gave the stock a “market perform” rating in a research report on Wednesday, February 21st. Mizuho lifted their price objective on Medtronic from $95.00 to $98.00 and gave the stock a “buy” rating in a research report on Wednesday, February 21st. Royal Bank of Canada restated a “sector perform” rating and set a $92.00 target price on shares of Medtronic in a research report on Wednesday, February 21st. Finally, Truist Financial boosted their price target on Medtronic from $87.00 to $90.00 and gave the company a “hold” 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 seven have assigned a buy rating to the company. Based on data from MarketBeat.com, Medtronic currently has an average rating of “Moderate Buy” and a consensus price target of $94.91.

Medtronic Stock Performance

NYSE MDT opened at $79.25 on Wednesday. The company has a current ratio of 2.30, a quick ratio of 1.71 and a debt-to-equity ratio of 0.46. The company has a fifty day simple moving average of $84.35 and a 200 day simple moving average of $81.02. Medtronic plc has a 12-month low of $68.84 and a 12-month high of $92.02. The company has a market cap of $105.23 billion, a P/E ratio of 25.24, a PEG ratio of 2.74 and a beta of 0.76.

Medtronic (NYSE:MDT) last posted its earnings results on Tuesday, February 20th. The medical technology company reported $1.30 EPS for the quarter, topping the consensus estimate of $1.26 by $0.04. Medtronic had a net margin of 13.00% and a return on equity of 13.71%. The company had revenue of $8.09 billion during the quarter, compared to the consensus estimate of $7.95 billion. During the same period in the previous year, the firm posted $1.30 earnings per share. The firm’s revenue for the quarter was up 4.7% on a year-over-year basis. Sell-side analysts predict that Medtronic plc will post 5.2 earnings per share for the current fiscal year.

Medtronic Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, April 12th. Investors of record on Friday, March 22nd were given a dividend of $0.69 per share. The ex-dividend date of this dividend was Thursday, March 21st. This represents a $2.76 annualized dividend and a dividend yield of 3.48%. Medtronic’s payout ratio is 87.90%.

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.