Diversified Trust Co Sells 10,030 Shares of Medtronic plc (NYSE:MDT)

Diversified Trust Co trimmed its position in shares of Medtronic plc (NYSE:MDT) by 57.9% in the 1st quarter, Holdings Channel.com reports. The firm owned 7,293 shares of the medical technology company’s stock after selling 10,030 shares during the quarter. Diversified Trust Co’s holdings in Medtronic were worth $636,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also bought and sold shares of the company. Morgan Stanley lifted its position in shares of Medtronic by 9.2% during the 3rd quarter. Morgan Stanley now owns 23,777,808 shares of the medical technology company’s stock valued at $1,863,229,000 after buying an additional 1,994,123 shares during the last quarter. Norges Bank purchased a new stake in Medtronic during the fourth quarter valued at about $1,229,726,000. Sanders Capital LLC boosted its position in Medtronic by 2.8% during the fourth quarter. Sanders Capital LLC now owns 12,634,161 shares of the medical technology company’s stock worth $1,040,802,000 after purchasing an additional 346,641 shares during the period. Charles Schwab Investment Management Inc. increased its stake in shares of Medtronic by 0.9% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 11,089,400 shares of the medical technology company’s stock worth $893,352,000 after purchasing an additional 101,111 shares in the last quarter. Finally, American Century Companies Inc. raised its position in shares of Medtronic by 6.7% in the third quarter. American Century Companies Inc. now owns 10,297,135 shares of the medical technology company’s stock valued at $806,883,000 after purchasing an additional 649,367 shares during the period. 82.06% of the stock is owned by hedge funds and other institutional investors.

Medtronic Trading Down 0.2 %

MDT opened at $77.19 on Thursday. Medtronic plc has a one year low of $68.84 and a one year high of $91.00. The company has a debt-to-equity ratio of 0.47, a current ratio of 2.03 and a quick ratio of 1.55. The business has a 50 day simple moving average of $81.71 and a two-hundred day simple moving average of $83.45. The firm has a market capitalization of $98.98 billion, a price-to-earnings ratio of 28.07, a PEG ratio of 2.29 and a beta of 0.82.

Medtronic (NYSE:MDT) last announced its earnings results on Thursday, May 23rd. The medical technology company reported $1.46 EPS for the quarter, beating analysts’ consensus estimates of $1.45 by $0.01. Medtronic had a return on equity of 13.47% and a net margin of 11.36%. The company had revenue of $8.59 billion during the quarter, compared to the consensus estimate of $8.44 billion. During the same quarter in the prior year, the company earned $1.57 earnings per share. The firm’s revenue for the quarter was up .5% on a year-over-year basis. Analysts predict that Medtronic plc will post 5.44 EPS for the current year.

Medtronic Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, July 12th. Stockholders of record on Friday, June 28th will be given a $0.70 dividend. The ex-dividend date of this dividend is Friday, June 28th. This represents a $2.80 annualized dividend and a dividend yield of 3.63%. This is a positive change from Medtronic’s previous quarterly dividend of $0.69. Medtronic’s dividend payout ratio is currently 101.82%.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on MDT. Wells Fargo & Company boosted their target price on shares of Medtronic from $102.00 to $105.00 and gave the company an “overweight” rating in a report on Friday, May 24th. Royal Bank of Canada reiterated a “sector perform” rating and issued a $92.00 target price on shares of Medtronic in a research report on Wednesday, June 5th. UBS Group raised their price target on Medtronic from $75.00 to $76.00 and gave the company a “sell” rating in a research report on Friday, May 24th. Truist Financial cut their price objective on Medtronic from $90.00 to $88.00 and set a “hold” rating for the company in a report on Friday, May 24th. Finally, The Goldman Sachs Group began coverage on Medtronic in a report on Thursday, May 30th. They set a “sell” rating and a $83.00 price objective on the stock. Two investment analysts have rated the stock with a sell rating, five have given a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat.com, Medtronic presently has an average rating of “Hold” and an average price target of $91.70.

Insider Activity

In other news, CEO Geoffrey Martha sold 19,113 shares of the business’s stock in a transaction on Friday, June 7th. The shares were sold at an average price of $83.77, for a total transaction of $1,601,096.01. Following the sale, the chief executive officer now owns 143,348 shares in the company, valued at approximately $12,008,261.96. The sale was disclosed in a document filed with the SEC, which is accessible through this link. In related news, CEO Geoffrey Martha sold 19,113 shares of the business’s stock in a transaction dated Friday, June 7th. The shares were sold at an average price of $83.77, for a total transaction of $1,601,096.01. Following the sale, the chief executive officer now owns 143,348 shares of the company’s stock, valued at $12,008,261.96. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Michael Marinaro sold 854 shares of Medtronic 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 owns 27,925 shares of the company’s stock, valued at $2,321,684.50. The disclosure for this sale can be found here. 0.30% of the stock is currently owned by company insiders.

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.