Sawyer & Company Inc Sells 680 Shares of Medtronic plc (NYSE:MDT)

Sawyer & Company Inc lowered its position in shares of Medtronic plc (NYSE:MDT) by 3.2% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 20,763 shares of the medical technology company’s stock after selling 680 shares during the period. Sawyer & Company Inc’s holdings in Medtronic were worth $1,659,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Fortitude Family Office LLC bought a new position in Medtronic during the third quarter worth $27,000. Highline Wealth Partners LLC purchased a new position in shares of Medtronic during the third quarter valued at approximately $27,000. Darwin Wealth Management LLC bought a new position in shares of Medtronic during the third quarter valued at about $27,000. J. Stern & Co. LLP bought a new position in shares of Medtronic in the third quarter valued at approximately $30,000. Finally, Kieckhefer Group LLC purchased a new stake in shares of Medtronic during the 4th quarter valued at $40,000. 82.06% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

MDT has been the topic of a number of recent research reports. Sanford C. Bernstein upped their price target on Medtronic from $96.00 to $97.00 and gave the company an “outperform” rating in a research report on Wednesday, November 20th. Robert W. Baird dropped their price objective on shares of Medtronic from $96.00 to $93.00 and set a “neutral” rating for the company in a report on Wednesday, November 20th. Truist Financial reduced their price target on Medtronic from $93.00 to $89.00 and set a “hold” rating on the stock in a research report on Wednesday, December 18th. Royal Bank of Canada raised shares of Medtronic from a “sector perform” rating to an “outperform” rating and raised their target price for the stock from $98.00 to $105.00 in a research report on Thursday, October 10th. Finally, Citigroup upped their price target on Medtronic from $85.00 to $92.00 and gave the stock a “neutral” rating in a research note on Tuesday, October 1st. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $95.00.

Medtronic Stock Up 0.1 %

Shares of MDT opened at $85.33 on Thursday. The stock has a 50 day moving average price of $83.74 and a 200 day moving average price of $85.01. 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 stock has a market capitalization of $109.42 billion, a price-to-earnings ratio of 26.09, a PEG ratio of 2.28 and a beta of 0.83. Medtronic plc has a one year low of $75.96 and a one year high of $92.68.

Medtronic (NYSE:MDT) last released its quarterly earnings results on Tuesday, November 19th. The medical technology company reported $1.26 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.25 by $0.01. Medtronic had a net margin of 13.00% and a return on equity of 13.79%. The business had revenue of $8.40 billion for the quarter, compared to the consensus estimate of $8.27 billion. During the same period in the previous year, the firm earned $1.25 EPS. The business’s revenue was up 5.2% on a year-over-year basis. Equities research analysts forecast that Medtronic plc will post 5.45 earnings per share for the current fiscal year.

Medtronic Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, January 10th. Shareholders of record on Friday, December 27th were paid a $0.70 dividend. The ex-dividend date was Friday, December 27th. This represents a $2.80 annualized dividend and a yield of 3.28%. Medtronic’s dividend payout ratio is currently 85.63%.

Insider Activity at Medtronic

In related news, EVP Brett A. Wall sold 9,850 shares of the stock in a transaction dated Wednesday, January 8th. The shares were sold at an average price of $80.41, for a total transaction of $792,038.50. Following the completion of the transaction, the executive vice president now directly owns 40,708 shares of the company’s stock, valued at $3,273,330.28. This represents a 19.48 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this link. Insiders own 0.20% of the company’s stock.

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.