LVM Capital Management Ltd. MI Sells 13,838 Shares of Medtronic plc (NYSE:MDT)

LVM Capital Management Ltd. MI lowered its position in Medtronic plc (NYSE:MDT) by 43.3% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 18,103 shares of the medical technology company’s stock after selling 13,838 shares during the quarter. LVM Capital Management Ltd. MI’s holdings in Medtronic were worth $1,446,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Acadian Asset Management LLC boosted its position in shares of Medtronic by 1,240.9% during the 2nd quarter. Acadian Asset Management LLC now owns 38,484 shares of the medical technology company’s stock valued at $3,027,000 after acquiring an additional 35,614 shares in the last quarter. Prudential PLC grew its stake in shares of Medtronic by 17.6% in the 2nd quarter. Prudential PLC now owns 22,322 shares of the medical technology company’s stock valued at $1,757,000 after purchasing an additional 3,335 shares during the period. Perritt Capital Management Inc raised its holdings in shares of Medtronic by 6.5% in the 2nd quarter. Perritt Capital Management Inc now owns 2,824 shares of the medical technology company’s stock worth $222,000 after buying an additional 172 shares in the last quarter. Qsemble Capital Management LP bought a new position in shares of Medtronic during the 2nd quarter worth approximately $3,586,000. Finally, Y.D. More Investments Ltd boosted its stake in Medtronic by 1,472.0% in the 2nd quarter. Y.D. More Investments Ltd now owns 1,179 shares of the medical technology company’s stock valued at $93,000 after buying an additional 1,104 shares in the last quarter. Institutional investors and hedge funds own 82.06% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on MDT. Needham & Company LLC reissued a “hold” rating on shares of Medtronic in a report on Monday, November 18th. Evercore ISI lifted their price target on shares of Medtronic from $100.00 to $104.00 and gave the company an “outperform” rating in a report on Tuesday, October 1st. Royal Bank of Canada raised shares of Medtronic from a “sector perform” rating to an “outperform” rating and upped their price objective for the stock from $98.00 to $105.00 in a research note on Thursday, October 10th. Truist Financial dropped their price objective on shares of Medtronic from $93.00 to $89.00 and set a “hold” rating for the company in a report on Wednesday, December 18th. Finally, Wells Fargo & Company reduced their target price on Medtronic from $106.00 to $98.00 and set an “overweight” rating on the stock in a report on Wednesday, November 20th. One research analyst has rated the stock with a sell rating, nine have given a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Hold” and an average price target of $95.00.

Medtronic Trading Down 2.1 %

Shares of MDT stock traded down $1.74 on Friday, reaching $80.94. The company had a trading volume of 3,387,191 shares, compared to its average volume of 6,757,626. The company has a 50-day moving average of $84.17 and a 200-day moving average of $84.89. Medtronic plc has a 12 month low of $75.96 and a 12 month high of $92.68. The stock has a market cap of $103.79 billion, a PE ratio of 24.75, a PEG ratio of 2.33 and a beta of 0.83. The company has a current ratio of 1.84, a quick ratio of 1.39 and a debt-to-equity ratio of 0.51.

Medtronic (NYSE:MDT) last posted its earnings results on Tuesday, November 19th. The medical technology company reported $1.26 earnings per share for the quarter, topping the consensus estimate of $1.25 by $0.01. Medtronic had a net margin of 13.00% and a return on equity of 13.79%. The company had revenue of $8.40 billion for the quarter, compared to analyst estimates of $8.27 billion. During the same period last year, the business posted $1.25 earnings per share. The business’s revenue for the quarter was up 5.2% compared to the same quarter last year. On average, equities analysts forecast that Medtronic plc will post 5.45 earnings per share for the current year.

Medtronic Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, January 10th. Shareholders of record on Friday, December 27th will be issued a $0.70 dividend. The ex-dividend date of this dividend is Friday, December 27th. This represents a $2.80 annualized dividend and a dividend yield of 3.46%. Medtronic’s dividend payout ratio (DPR) is currently 85.63%.

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.