Ferguson Wellman Capital Management Inc. Has $8.21 Million Stock Position in Medtronic plc (NYSE:MDT)

Ferguson Wellman Capital Management Inc. cut its position in Medtronic plc (NYSE:MDT) by 2.4% during the fourth quarter, Holdings Channel.com reports. The institutional investor owned 102,804 shares of the medical technology company’s stock after selling 2,560 shares during the quarter. Ferguson Wellman Capital Management Inc.’s holdings in Medtronic were worth $8,212,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Savant Capital LLC grew its position in Medtronic by 138.0% during the 4th quarter. Savant Capital LLC now owns 89,644 shares of the medical technology company’s stock worth $7,161,000 after acquiring an additional 51,985 shares during the last quarter. Angeles Wealth Management LLC lifted its position in shares of Medtronic by 36.3% during the fourth quarter. Angeles Wealth Management LLC now owns 3,085 shares of the medical technology company’s stock worth $246,000 after purchasing an additional 822 shares in the last quarter. HTLF Bank boosted its position in Medtronic by 0.3% in the 4th quarter. HTLF Bank now owns 59,009 shares of the medical technology company’s stock valued at $4,714,000 after buying an additional 173 shares during the last quarter. Tevis Investment Management increased its stake in shares of Medtronic by 1.3% in the 4th quarter. Tevis Investment Management now owns 42,304 shares of the medical technology company’s stock valued at $3,409,000 after buying an additional 556 shares during the period. Finally, Kestra Private Wealth Services LLC raised its position in shares of Medtronic by 6.1% during the fourth quarter. Kestra Private Wealth Services LLC now owns 103,281 shares of the medical technology company’s stock worth $8,250,000 after acquiring an additional 5,942 shares during the last quarter. 82.06% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on MDT shares. Wells Fargo & Company lowered their price objective on Medtronic from $106.00 to $98.00 and set an “overweight” rating for the company in a research report on Wednesday, November 20th. Needham & Company LLC reissued a “hold” rating on shares of Medtronic in a research note on Monday, November 18th. Truist Financial reduced 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. JPMorgan Chase & Co. decreased 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. Finally, Sanford C. Bernstein upped their target price 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. One investment analyst has rated the stock with a sell rating, nine have given a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $95.00.

Insider Buying and Selling

In other Medtronic news, EVP Brett A. Wall sold 12,437 shares of the company’s 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 sale, the executive vice president now directly owns 40,979 shares of the company’s stock, valued at approximately $3,688,110. This represents a 23.28 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. 0.20% of the stock is currently owned by corporate insiders.

Medtronic Trading Down 0.9 %

NYSE MDT opened at $90.01 on Monday. The stock has a market capitalization of $115.42 billion, a price-to-earnings ratio of 27.53, a PEG ratio of 2.57 and a beta of 0.84. Medtronic plc has a 52 week low of $75.96 and a 52 week high of $93.08. The stock’s 50 day moving average price is $84.85 and its two-hundred day moving average price is $86.43. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.39 and a current ratio of 1.84.

Medtronic (NYSE:MDT) last released its earnings results on Tuesday, November 19th. The medical technology company reported $1.26 earnings per share for the quarter, beating analysts’ consensus estimates of $1.25 by $0.01. Medtronic had a net margin of 13.00% and a return on equity of 13.79%. The business had revenue of $8.40 billion during the quarter, compared to the consensus estimate of $8.27 billion. During the same quarter last year, the firm earned $1.25 earnings per share. The firm’s revenue for the quarter was up 5.2% compared to the same quarter last year. As a group, analysts anticipate that Medtronic plc will post 5.45 earnings per share for the current fiscal year.

Medtronic Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, January 10th. Investors 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 annualized dividend and a yield of 3.11%. Medtronic’s payout ratio is presently 85.63%.

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.