Haverford Trust Co Trims Holdings in Medtronic plc (NYSE:MDT)

Haverford Trust Co reduced its holdings in shares of Medtronic plc (NYSE:MDT) by 10.1% during the 4th quarter, according to its most recent 13F filing with the SEC. The fund owned 1,005,191 shares of the medical technology company’s stock after selling 112,399 shares during the period. Haverford Trust Co’s holdings in Medtronic were worth $80,295,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently bought and sold shares of MDT. Raymond James Financial Inc. purchased a new stake in Medtronic in the 4th quarter valued at approximately $852,732,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in shares of Medtronic by 436.7% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 7,343,385 shares of the medical technology company’s stock valued at $661,125,000 after buying an additional 5,975,110 shares during the period. Van ECK Associates Corp lifted its holdings in shares of Medtronic by 2,043.4% in the 4th quarter. Van ECK Associates Corp now owns 2,598,150 shares of the medical technology company’s stock valued at $207,540,000 after buying an additional 2,476,935 shares during the period. Bank of Montreal Can boosted its stake in shares of Medtronic by 65.0% in the third quarter. Bank of Montreal Can now owns 4,546,819 shares of the medical technology company’s stock valued at $406,122,000 after buying an additional 1,790,483 shares in the last quarter. Finally, Boston Partners grew its holdings in Medtronic by 117.4% during the fourth quarter. Boston Partners now owns 3,102,605 shares of the medical technology company’s stock worth $248,311,000 after acquiring an additional 1,675,588 shares during the period. 82.06% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Medtronic

In related news, EVP Brett A. Wall sold 9,850 shares of Medtronic 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 transaction, the executive vice president now owns 40,708 shares in the company, valued at approximately $3,273,330.28. This trade represents a 19.48 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.20% of the stock is owned by company insiders.

Medtronic Stock Down 0.9 %

MDT stock opened at $90.37 on Monday. The company has a 50 day moving average price of $90.67 and a two-hundred day moving average price of $88.05. The company has a debt-to-equity ratio of 0.48, a quick ratio of 1.39 and a current ratio of 1.90. The stock has a market capitalization of $115.90 billion, a P/E ratio of 27.47, a PEG ratio of 2.22 and a beta of 0.80. Medtronic plc has a one year low of $75.96 and a one year high of $96.25.

Medtronic (NYSE:MDT) last released its earnings results on Tuesday, February 18th. The medical technology company reported $1.39 EPS for the quarter, beating the consensus estimate of $1.36 by $0.03. Medtronic had a return on equity of 14.07% and a net margin of 12.83%. The firm had revenue of $8.29 billion during the quarter, compared to analyst estimates of $8.33 billion. As a group, sell-side analysts expect that Medtronic plc will post 5.46 EPS for the current year.

Medtronic Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, April 11th. Investors of record on Friday, March 28th will be given a dividend of $0.70 per share. This represents a $2.80 annualized dividend and a yield of 3.10%. The ex-dividend date is Friday, March 28th. Medtronic’s dividend payout ratio (DPR) is 85.11%.

Analysts Set New Price Targets

MDT has been the topic of several research analyst reports. Truist Financial decreased their target price on shares of Medtronic from $93.00 to $89.00 and set a “hold” rating on the stock in a research report on Wednesday, December 18th. Needham & Company LLC restated a “hold” rating on shares of Medtronic in a research report on Wednesday, February 19th. UBS Group lifted their price target on shares of Medtronic from $85.00 to $95.00 and gave the company a “neutral” rating in a research report on Wednesday, February 19th. Citigroup upgraded Medtronic from a “neutral” rating to a “buy” rating and upped their price target for the stock from $92.00 to $107.00 in a report on Tuesday, March 4th. Finally, Barclays boosted 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. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, Medtronic currently has a consensus rating of “Hold” and an average target price of $96.07.

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.