Medtronic plc (NYSE:MDT) Shares Sold by EP Wealth Advisors LLC

EP Wealth Advisors LLC lessened its position in Medtronic plc (NYSE:MDT) by 57.5% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 8,646 shares of the medical technology company’s stock after selling 11,713 shares during the period. EP Wealth Advisors LLC’s holdings in Medtronic were worth $712,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of the company. Loomis Sayles & Co. L P raised its stake in Medtronic by 16.6% during the 3rd quarter. Loomis Sayles & Co. L P now owns 2,041 shares of the medical technology company’s stock valued at $160,000 after acquiring an additional 290 shares in the last quarter. FMR LLC lifted its holdings in Medtronic by 5.8% in the third quarter. FMR LLC now owns 1,590,041 shares of the medical technology company’s stock worth $124,596,000 after purchasing an additional 87,412 shares during the period. Stokes Family Office LLC grew its position in Medtronic by 12.9% in the 3rd quarter. Stokes Family Office LLC now owns 4,395 shares of the medical technology company’s stock valued at $344,000 after buying an additional 501 shares in the last quarter. CI Investments Inc. raised its position in shares of Medtronic by 1.7% during the 3rd quarter. CI Investments Inc. now owns 454,908 shares of the medical technology company’s stock worth $35,647,000 after buying an additional 7,597 shares in the last quarter. Finally, CenterBook Partners LP lifted its stake in shares of Medtronic by 23.0% in the 3rd quarter. CenterBook Partners LP now owns 18,173 shares of the medical technology company’s stock worth $1,424,000 after acquiring an additional 3,399 shares during the period. 82.06% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Medtronic

In other news, EVP Michael Marinaro sold 854 shares of the company’s stock in a transaction on Monday, April 8th. The shares were sold at an average price of $83.14, for a total value of $71,001.56. Following the transaction, the executive vice president now directly owns 27,925 shares of the company’s stock, valued at $2,321,684.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In related news, CEO Geoffrey Martha sold 19,113 shares of the business’s stock in a transaction that occurred on Friday, June 7th. The stock was sold at an average price of $83.77, for a total value of $1,601,096.01. Following the completion of the sale, the chief executive officer now owns 143,348 shares of the company’s stock, valued at approximately $12,008,261.96. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, EVP Michael Marinaro sold 854 shares of the firm’s stock in a transaction that occurred on Monday, April 8th. The shares were sold at an average price of $83.14, for a total transaction of $71,001.56. Following the transaction, the executive vice president now directly owns 27,925 shares in the company, valued at approximately $2,321,684.50. The disclosure for this sale can be found here. Company insiders own 0.30% of the company’s stock.

Analysts Set New Price Targets

Several brokerages recently commented on MDT. Truist Financial dropped their target price on Medtronic from $90.00 to $88.00 and set a “hold” rating on the stock in a report on Friday, May 24th. Wells Fargo & Company upped their price objective on Medtronic from $102.00 to $105.00 and gave the company an “overweight” rating in a report on Friday, May 24th. The Goldman Sachs Group initiated coverage on Medtronic in a report on Thursday, May 30th. They set a “sell” rating and a $83.00 target price on the stock. Royal Bank of Canada restated a “sector perform” rating and set a $92.00 price objective on shares of Medtronic in a research report on Wednesday, June 5th. Finally, Needham & Company LLC reiterated a “hold” rating on shares of Medtronic in a report on Friday, May 24th. Two analysts have rated the stock with a sell rating, five have given a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $93.00.

Medtronic Price Performance

MDT opened at $79.95 on Tuesday. Medtronic plc has a 12-month low of $68.84 and a 12-month high of $91.00. The company has a quick ratio of 1.55, a current ratio of 2.03 and a debt-to-equity ratio of 0.47. The firm has a market capitalization of $106.16 billion, a P/E ratio of 29.07, a PEG ratio of 2.36 and a beta of 0.83. The stock has a fifty day moving average of $81.95 and a 200-day moving average of $83.51.

Medtronic (NYSE:MDT) last announced its quarterly earnings data on Thursday, May 23rd. The medical technology company reported $1.46 EPS for the quarter, topping analysts’ consensus estimates of $1.45 by $0.01. The firm had revenue of $8.59 billion during the quarter, compared to analyst estimates of $8.44 billion. Medtronic had a return on equity of 13.47% and a net margin of 11.36%. The business’s quarterly revenue was up .5% compared to the same quarter last year. During the same period last year, the company posted $1.57 EPS. Equities analysts forecast that Medtronic plc will post 5.44 EPS for the current fiscal year.

Medtronic Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, July 12th. Shareholders of record on Friday, June 28th will be paid a $0.70 dividend. This represents a $2.80 annualized dividend and a yield of 3.50%. The ex-dividend date of this dividend is Friday, June 28th. This is a positive change from Medtronic’s previous quarterly dividend of $0.69. Medtronic’s dividend payout ratio is currently 100.36%.

About Medtronic

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.