Summit Trail Advisors LLC Has $930,000 Stock Position in Medtronic plc (NYSE:MDT)

Summit Trail Advisors LLC reduced its holdings in Medtronic plc (NYSE:MDT) by 5.2% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 11,192 shares of the medical technology company’s stock after selling 615 shares during the quarter. Summit Trail Advisors LLC’s holdings in Medtronic were worth $930,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. Marino Stram & Associates LLC grew its holdings in Medtronic by 1.8% during the fourth 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. Rogco LP boosted its position in Medtronic by 1.9% in the fourth quarter. Rogco LP now owns 6,814 shares of the medical technology company’s stock worth $561,000 after purchasing an additional 129 shares during the last quarter. Modera Wealth Management LLC boosted its position in Medtronic by 3.9% in the third quarter. Modera Wealth Management LLC now owns 3,537 shares of the medical technology company’s stock worth $277,000 after purchasing an additional 133 shares during the last quarter. jvl associates llc boosted its position in Medtronic by 3.8% in the fourth quarter. jvl associates llc now owns 3,840 shares of the medical technology company’s stock worth $316,000 after purchasing an additional 139 shares during the last quarter. Finally, Dfpg Investments LLC boosted its position in Medtronic by 0.3% in the fourth quarter. Dfpg Investments LLC now owns 53,045 shares of the medical technology company’s stock worth $4,413,000 after purchasing an additional 142 shares during the last quarter. 82.06% of the stock is currently owned by institutional investors.

Medtronic Stock Up 0.1 %

Shares of Medtronic stock traded up $0.08 on Monday, reaching $81.77. The company’s stock had a trading volume of 3,676,129 shares, compared to its average volume of 6,199,255. The company has a market capitalization of $108.57 billion, a price-to-earnings ratio of 25.89, a P/E/G ratio of 2.66 and a beta of 0.78. The firm’s fifty day simple moving average is $83.08 and its two-hundred day simple moving average is $81.56. Medtronic plc has a 52 week low of $68.84 and a 52 week high of $91.00. The company has a quick ratio of 1.71, a current ratio of 2.30 and a debt-to-equity ratio of 0.46.

Medtronic (NYSE:MDT) last issued its quarterly earnings data 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. The company had revenue of $8.09 billion during the quarter, compared to analyst estimates of $7.95 billion. Medtronic had a return on equity of 13.71% and a net margin of 13.00%. Medtronic’s revenue was up 4.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.30 earnings per share. Equities analysts anticipate that Medtronic plc will post 5.2 earnings per share for the current year.

Medtronic Announces Dividend

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 yield of 3.38%. Medtronic’s dividend payout ratio (DPR) is presently 87.90%.

Insider Activity at Medtronic

In other news, EVP Sean Salmon sold 30,695 shares of the business’s stock in a transaction dated 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 transaction, the executive vice president now directly owns 48,289 shares in the company, valued at $4,110,842.57. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In other news, EVP Sean Salmon sold 30,695 shares of Medtronic stock in a transaction dated 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 sale, the executive vice president now directly owns 48,289 shares of the company’s stock, valued at $4,110,842.57. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Michael Marinaro sold 854 shares of Medtronic stock in a transaction dated 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 sale, the executive vice president now directly owns 27,925 shares in the company, valued at $2,321,684.50. The disclosure for this sale can be found here. 0.30% of the stock is owned by company insiders.

Analysts Set New Price Targets

MDT has been the topic of several research analyst reports. Royal Bank of Canada reissued a “sector perform” rating and issued a $92.00 price objective on shares of Medtronic in a research report on Wednesday, February 21st. Oppenheimer increased their price objective on Medtronic from $89.00 to $92.00 and gave the stock a “market perform” rating in a report on Wednesday, February 21st. Truist Financial increased their price objective on Medtronic from $87.00 to $90.00 and gave the stock a “hold” rating in a report on Wednesday, February 21st. Finally, Mizuho increased their price objective on Medtronic from $95.00 to $98.00 and gave the stock a “buy” rating in a report on Wednesday, February 21st. One analyst has rated the stock with a sell rating, four have given a hold rating and six have issued a buy rating to the company. According to MarketBeat, Medtronic currently has an average rating of “Hold” and a consensus target price of $94.91.

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.