Medtronic plc (NYSE:MDT) Stock Position Decreased by Pettyjohn Wood & White Inc.

Pettyjohn Wood & White Inc. trimmed its position in shares of Medtronic plc (NYSE:MDT) by 6.7% during the 4th quarter, HoldingsChannel reports. The firm owned 20,226 shares of the medical technology company’s stock after selling 1,450 shares during the quarter. Pettyjohn Wood & White Inc.’s holdings in Medtronic were worth $1,616,000 at the end of the most recent quarter.

A number of other hedge funds also recently modified their holdings of MDT. Highline Wealth Partners LLC acquired a new position in Medtronic during the third quarter valued at $27,000. Fortitude Family Office LLC acquired a new position in shares of Medtronic in the 3rd quarter valued at about $27,000. Darwin Wealth Management LLC purchased a new stake in shares of Medtronic in the third quarter worth approximately $27,000. Stephens Consulting LLC grew its position in Medtronic by 145.7% during the fourth quarter. Stephens Consulting LLC now owns 344 shares of the medical technology company’s stock valued at $27,000 after purchasing an additional 204 shares in the last quarter. Finally, J. Stern & Co. LLP acquired a new position in Medtronic in the 3rd quarter valued at approximately $30,000. Hedge funds and other institutional investors own 82.06% of the company’s stock.

Analysts Set New Price Targets

MDT has been the subject of a number of research reports. Barclays lifted their target price on shares of Medtronic from $105.00 to $109.00 and gave the company an “overweight” rating in a research note on Tuesday, November 26th. Truist Financial lowered their price objective on shares of Medtronic from $93.00 to $89.00 and set a “hold” rating on the stock in a research note on Wednesday, December 18th. Royal Bank of Canada reissued an “outperform” rating and issued a $105.00 price target on shares of Medtronic in a report on Wednesday, February 19th. Sanford C. Bernstein boosted their price objective on Medtronic from $96.00 to $97.00 and gave the company an “outperform” rating in a research report on Wednesday, November 20th. Finally, Wells Fargo & Company dropped their price objective on shares of Medtronic from $106.00 to $98.00 and set an “overweight” rating for the company in a report on Wednesday, November 20th. One analyst has rated the stock with a sell rating, nine have assigned a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, Medtronic has a consensus rating of “Hold” and a consensus target price of $95.00.

Insiders Place Their Bets

In other news, EVP Brett A. Wall sold 12,437 shares of the stock in a transaction on Friday, January 24th. The shares were sold at an average price of $90.00, for a total transaction of $1,119,330.00. Following the completion of the sale, the executive vice president now owns 40,979 shares of the company’s stock, valued at $3,688,110. This represents a 23.28 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 0.20% of the company’s stock.

Medtronic Price Performance

Shares of MDT opened at $90.67 on Friday. The stock has a market cap of $116.26 billion, a P/E ratio of 27.56, a price-to-earnings-growth ratio of 2.22 and a beta of 0.84. Medtronic plc has a 1 year low of $75.96 and a 1 year high of $93.08. The stock’s 50-day moving average price is $86.86 and its two-hundred day moving average price is $87.35. The company has a current ratio of 1.90, a quick ratio of 1.39 and a debt-to-equity ratio of 0.48.

Medtronic (NYSE:MDT) last released its quarterly earnings data on Tuesday, February 18th. The medical technology company reported $1.39 earnings per share for the quarter, topping the consensus estimate of $1.36 by $0.03. Medtronic had a net margin of 12.83% and a return on equity of 14.07%. The business had revenue of $8.29 billion for the quarter, compared to analyst estimates of $8.33 billion. On average, equities analysts predict that Medtronic plc will post 5.46 earnings per share for the current year.

Medtronic Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, January 10th. Investors of record on Friday, December 27th were paid a dividend of $0.70 per share. This represents a $2.80 annualized dividend and a yield of 3.09%. The ex-dividend date of this dividend was Friday, December 27th. Medtronic’s payout ratio is presently 85.11%.

Medtronic Company 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.