Clark Estates Inc. NY Cuts Stock Holdings in Medtronic plc (NYSE:MDT)

Clark Estates Inc. NY lessened its position in Medtronic plc (NYSE:MDT) by 9.1% in the fourth quarter, according to its most recent disclosure with the SEC. The firm owned 250,000 shares of the medical technology company’s stock after selling 25,000 shares during the period. Medtronic makes up about 3.9% of Clark Estates Inc. NY’s holdings, making the stock its 4th largest position. Clark Estates Inc. NY’s holdings in Medtronic were worth $19,970,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of MDT. Triad Wealth Partners LLC acquired a new position in Medtronic during the fourth quarter worth $221,000. Laffer Tengler Investments Inc. increased its position in shares of Medtronic by 19.8% during the fourth quarter. Laffer Tengler Investments Inc. now owns 60,003 shares of the medical technology company’s stock worth $4,793,000 after acquiring an additional 9,902 shares in the last quarter. Carrera Capital Advisors acquired a new stake in shares of Medtronic in the 4th quarter worth about $2,099,000. Mainstream Capital Management LLC bought a new position in Medtronic in the 4th quarter valued at about $26,000. Finally, Commerzbank Aktiengesellschaft FI boosted its stake in Medtronic by 99.8% during the 4th quarter. Commerzbank Aktiengesellschaft FI now owns 22,072 shares of the medical technology company’s stock valued at $1,758,000 after purchasing an additional 11,023 shares during the last quarter. Institutional investors own 82.06% of the company’s stock.

Insiders Place Their Bets

In related news, EVP Brett A. Wall sold 12,437 shares of the business’s stock in a transaction on Friday, January 24th. The stock was sold at an average price of $90.00, for a total transaction of $1,119,330.00. Following the sale, the executive vice president now directly owns 40,979 shares in the company, valued at approximately $3,688,110. The trade was a 23.28 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 0.20% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have recently commented on MDT. JPMorgan Chase & Co. lowered their price objective on Medtronic from $99.00 to $96.00 and set a “neutral” rating for the company in a research note on Friday, November 15th. Citigroup upgraded Medtronic from a “neutral” rating to a “buy” rating and raised their price objective for the company from $92.00 to $107.00 in a research note on Tuesday. Truist Financial cut their price objective on shares of Medtronic from $93.00 to $89.00 and set a “hold” rating on the stock in a report on Wednesday, December 18th. Robert W. Baird increased their target price on shares of Medtronic from $90.00 to $91.00 and gave the company a “neutral” rating in a report on Wednesday, February 19th. Finally, UBS Group boosted their price target on shares of Medtronic from $85.00 to $95.00 and gave the stock a “neutral” rating in a report on Wednesday, February 19th. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $96.07.

Medtronic Stock Performance

NYSE:MDT opened at $93.09 on Wednesday. The company has a market capitalization of $119.40 billion, a P/E ratio of 28.30, a P/E/G ratio of 2.22 and a beta of 0.84. The business has a fifty day simple moving average of $87.57 and a two-hundred day simple moving average of $87.63. The company has a debt-to-equity ratio of 0.48, a current ratio of 1.90 and a quick ratio of 1.39. Medtronic plc has a 1 year low of $75.96 and a 1 year high of $95.57.

Medtronic (NYSE:MDT) last announced 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. The company had revenue of $8.29 billion during the quarter, compared to analyst estimates of $8.33 billion. Medtronic had a return on equity of 14.07% and a net margin of 12.83%. On average, analysts expect that Medtronic plc will post 5.46 earnings per share for the current year.

Medtronic Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, January 10th. Shareholders of record on Friday, December 27th were issued a dividend of $0.70 per share. The ex-dividend date was Friday, December 27th. This represents a $2.80 dividend on an annualized basis and a yield of 3.01%. Medtronic’s payout ratio is 85.11%.

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.