Medtronic plc (NYSE:MDT) Holdings Decreased by Lmcg Investments LLC

Lmcg Investments LLC cut its position in shares of Medtronic plc (NYSE:MDT) by 10.5% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 21,829 shares of the medical technology company’s stock after selling 2,563 shares during the quarter. Lmcg Investments LLC’s holdings in Medtronic were worth $1,744,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in the business. Fortitude Family Office LLC acquired a new position in shares of Medtronic in the 3rd quarter valued at about $27,000. Highline Wealth Partners LLC acquired a new position in Medtronic in 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 approximately $27,000. J. Stern & Co. LLP acquired a new stake in shares of Medtronic during the 3rd quarter worth approximately $30,000. Finally, Kieckhefer Group LLC bought a new stake in shares of Medtronic in the 4th quarter worth approximately $40,000. Institutional investors and hedge funds own 82.06% of the company’s stock.

Medtronic Price Performance

NYSE:MDT opened at $88.35 on Wednesday. Medtronic plc has a 52-week low of $75.96 and a 52-week high of $92.68. The company has a quick ratio of 1.39, a current ratio of 1.84 and a debt-to-equity ratio of 0.51. The firm has a market cap of $113.29 billion, a P/E ratio of 27.02, a PEG ratio of 2.49 and a beta of 0.83. The business’s 50-day moving average price is $83.64 and its 200 day moving average price is $85.29.

Medtronic (NYSE:MDT) last announced its quarterly earnings data on Tuesday, November 19th. The medical technology company reported $1.26 earnings per share (EPS) 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 analysts’ expectations of $8.27 billion. During the same quarter in the previous year, the company posted $1.25 EPS. The business’s revenue was up 5.2% compared to the same quarter last year. As a group, sell-side analysts predict that Medtronic plc will post 5.45 earnings per share for the current fiscal year.

Medtronic Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, January 10th. Stockholders of record on Friday, December 27th were paid a dividend of $0.70 per share. This represents a $2.80 annualized dividend and a dividend yield of 3.17%. The ex-dividend date was Friday, December 27th. Medtronic’s dividend payout ratio is presently 85.63%.

Insider Buying and Selling

In related news, EVP Brett A. Wall sold 9,850 shares of the stock in a transaction on Wednesday, January 8th. The stock was sold at an average price of $80.41, for a total value of $792,038.50. Following the completion of the transaction, the executive vice president now owns 40,708 shares in the company, valued at $3,273,330.28. This trade represents a 19.48 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders own 0.20% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on the company. Barclays increased their target price on Medtronic from $105.00 to $109.00 and gave the stock an “overweight” rating in a research report on Tuesday, November 26th. Robert W. Baird cut their price objective on shares of Medtronic from $96.00 to $93.00 and set a “neutral” rating on the stock in a research report on Wednesday, November 20th. Evercore ISI boosted their target price on shares of Medtronic from $100.00 to $104.00 and gave the company an “outperform” rating in a research note on Tuesday, October 1st. Sanford C. Bernstein raised their price target on shares of Medtronic from $96.00 to $97.00 and gave the company an “outperform” rating in a research note on Wednesday, November 20th. Finally, Truist Financial reduced their price objective on Medtronic from $93.00 to $89.00 and set a “hold” rating for the company in a research report on Wednesday, December 18th. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating, six have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, Medtronic currently has an average rating of “Hold” and an average price target of $95.00.

About 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.