Medtronic plc (NYSE:MDT) Shares Sold by Dempze Nancy E

Dempze Nancy E decreased its holdings in Medtronic plc (NYSE:MDT) by 59.2% in the fourth quarter, HoldingsChannel.com reports. The firm owned 2,916 shares of the medical technology company’s stock after selling 4,227 shares during the quarter. Dempze Nancy E’s holdings in Medtronic were worth $233,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of the business. Norges Bank purchased a new stake in Medtronic in the 4th quarter worth $1,163,580,000. Raymond James Financial Inc. purchased a new stake in shares of Medtronic during the fourth quarter worth about $852,732,000. Beutel Goodman & Co Ltd. acquired a new position in shares of Medtronic during the 4th quarter worth about $377,169,000. Van ECK Associates Corp raised its position in shares of Medtronic by 2,043.4% during the 4th quarter. Van ECK Associates Corp now owns 2,598,150 shares of the medical technology company’s stock worth $207,540,000 after purchasing an additional 2,476,935 shares during the last quarter. Finally, Boston Partners lifted its stake in Medtronic by 117.4% in the 4th quarter. Boston Partners now owns 3,102,605 shares of the medical technology company’s stock valued at $248,311,000 after buying an additional 1,675,588 shares in the last quarter. Hedge funds and other institutional investors own 82.06% of the company’s stock.

Medtronic Stock Performance

NYSE MDT opened at $82.86 on Friday. The stock has a fifty day simple moving average of $90.87 and a 200-day simple moving average of $87.94. The company has a current ratio of 1.90, a quick ratio of 1.39 and a debt-to-equity ratio of 0.48. The stock has a market cap of $106.28 billion, a PE ratio of 25.19, a P/E/G ratio of 2.22 and a beta of 0.80. Medtronic plc has a twelve month low of $75.96 and a twelve month high of $96.25.

Medtronic (NYSE:MDT) last announced its earnings results 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 net margin of 12.83% and a return on equity of 14.07%. Equities analysts anticipate that Medtronic plc will post 5.46 earnings per share for the current year.

Medtronic Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, April 11th. Shareholders of record on Friday, March 28th will be given a $0.70 dividend. This represents a $2.80 dividend on an annualized basis and a yield of 3.38%. The ex-dividend date is Friday, March 28th. Medtronic’s payout ratio is 85.11%.

Wall Street Analyst Weigh In

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

Insiders Place Their Bets

In related news, EVP Brett A. Wall sold 12,437 shares of the stock in a transaction dated 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 transaction, the executive vice president now owns 40,979 shares of the company’s stock, valued at approximately $3,688,110. This represents a 23.28 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.20% of the stock is owned by insiders.

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.