Medtronic plc (NYSE:MDT) Shares Sold by Bedell Frazier Investment Counselling LLC

Bedell Frazier Investment Counselling LLC trimmed its position in shares of Medtronic plc (NYSE:MDT) by 29.9% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,707 shares of the medical technology company’s stock after selling 1,580 shares during the period. Bedell Frazier Investment Counselling LLC’s holdings in Medtronic were worth $296,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of MDT. Mainstream Capital Management LLC acquired a new position in Medtronic in the fourth quarter worth $26,000. Stephens Consulting LLC increased its stake in shares of Medtronic by 145.7% in 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 during the period. Rakuten Securities Inc. raised its stake in Medtronic by 753.8% during the 4th quarter. Rakuten Securities Inc. now owns 333 shares of the medical technology company’s stock valued at $27,000 after acquiring an additional 294 shares in the last quarter. Fiduciary Advisors Inc. acquired a new stake in Medtronic in the fourth quarter worth about $36,000. Finally, Kieckhefer Group LLC acquired a new stake in shares of Medtronic in the 4th quarter worth approximately $40,000. Institutional investors and hedge funds own 82.06% of the company’s stock.

Insider Buying and Selling at Medtronic

In other Medtronic news, EVP Brett A. Wall sold 12,437 shares of the firm’s stock in a transaction dated Friday, January 24th. The shares were sold at an average price of $90.00, for a total value of $1,119,330.00. Following the completion of the sale, the executive vice president now directly owns 40,979 shares in the company, valued at $3,688,110. This trade represents a 23.28 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. 0.20% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on MDT. Truist Financial decreased their price target 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. Robert W. Baird upped their price objective on shares of Medtronic from $90.00 to $91.00 and gave the company a “neutral” rating in a research note on Wednesday, February 19th. Royal Bank of Canada reiterated an “outperform” rating and set a $105.00 price target on shares of Medtronic in a report on Wednesday, February 19th. Citigroup raised shares of Medtronic from a “neutral” rating to a “buy” rating and increased their target price for the stock from $92.00 to $107.00 in a research report on Tuesday, March 4th. Finally, Needham & Company LLC reiterated a “hold” rating on shares of Medtronic in a research note on Wednesday, February 19th. One analyst has rated the stock with a sell rating, eight have issued a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $96.07.

Medtronic Trading Down 1.5 %

NYSE:MDT opened at $87.62 on Monday. 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 firm’s 50 day moving average is $90.98 and its 200 day moving average is $87.99. Medtronic plc has a 12 month low of $75.96 and a 12 month high of $96.25. The stock has a market capitalization of $112.38 billion, a PE ratio of 26.63, a price-to-earnings-growth ratio of 2.22 and a beta of 0.80.

Medtronic (NYSE:MDT) last issued its earnings results on Tuesday, February 18th. The medical technology company reported $1.39 EPS for the quarter, topping 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 business had revenue of $8.29 billion during the quarter, compared to the consensus estimate of $8.33 billion. Sell-side analysts expect that Medtronic plc will post 5.46 earnings per share for the current year.

Medtronic Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, April 11th. Investors of record on Friday, March 28th will be issued a dividend of $0.70 per share. The ex-dividend date of this dividend is Friday, March 28th. This represents a $2.80 dividend on an annualized basis and a yield of 3.20%. Medtronic’s dividend payout ratio is currently 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.