Medtronic plc (NYSE:MDT) Shares Sold by M&R Capital Management Inc.

M&R Capital Management Inc. lowered its position in shares of Medtronic plc (NYSE:MDT) by 21.6% during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 2,728 shares of the medical technology company’s stock after selling 752 shares during the quarter. M&R Capital Management Inc.’s holdings in Medtronic were worth $246,000 at the end of the most recent quarter.

A number of other large investors also recently bought and sold shares of MDT. J. W. Coons Advisors LLC acquired a new stake in shares of Medtronic during the fourth quarter worth $210,000. CWA Asset Management Group LLC acquired a new stake in Medtronic during the fourth quarter worth about $376,000. First Trust Advisors LP lifted its holdings in Medtronic by 2.4% in the fourth quarter. First Trust Advisors LP now owns 1,106,515 shares of the medical technology company’s stock worth $91,155,000 after acquiring an additional 26,023 shares during the last quarter. Tower Research Capital LLC TRC lifted its holdings in Medtronic by 346.5% in the fourth quarter. Tower Research Capital LLC TRC now owns 180,717 shares of the medical technology company’s stock worth $14,887,000 after acquiring an additional 140,241 shares during the last quarter. Finally, Public Employees Retirement Association of Colorado acquired a new position in Medtronic in the fourth quarter valued at approximately $16,280,000. Institutional investors own 82.06% of the company’s stock.

Analyst Upgrades and Downgrades

MDT has been the topic of a number of research reports. Evercore ISI increased their price target on Medtronic from $100.00 to $104.00 and gave the stock an “outperform” rating in a research report on Tuesday. Truist Financial increased their target price on Medtronic from $85.00 to $90.00 and gave the stock a “hold” rating in a research report on Friday, August 23rd. Piper Sandler upped their price target on shares of Medtronic from $85.00 to $90.00 and gave the stock a “neutral” rating in a research report on Wednesday, August 21st. Barclays increased their price objective on shares of Medtronic from $104.00 to $105.00 and gave the stock an “overweight” rating in a report on Thursday, August 22nd. Finally, Wells Fargo & Company raised their price target on shares of Medtronic from $105.00 to $106.00 and gave the company an “overweight” rating in a research note on Wednesday, August 21st. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, Medtronic currently has a consensus rating of “Hold” and a consensus target price of $94.21.

Medtronic Price Performance

Shares of Medtronic stock opened at $89.10 on Thursday. Medtronic plc has a 52 week low of $68.84 and a 52 week high of $91.49. The company has a current ratio of 2.13, a quick ratio of 1.61 and a debt-to-equity ratio of 0.55. The company’s 50-day moving average price is $86.39 and its two-hundred day moving average price is $83.23. The stock has a market cap of $114.25 billion, a PE ratio of 32.40, a price-to-earnings-growth ratio of 2.56 and a beta of 0.84.

Medtronic (NYSE:MDT) last released its earnings results on Tuesday, August 20th. The medical technology company reported $1.23 EPS for the quarter, beating the consensus estimate of $1.20 by $0.03. The business had revenue of $7.97 billion during the quarter, compared to analyst estimates of $7.90 billion. Medtronic had a net margin of 12.06% and a return on equity of 13.68%. The business’s quarterly revenue was up 3.4% on a year-over-year basis. During the same period in the prior year, the business earned $1.20 earnings per share. As a group, sell-side analysts anticipate that Medtronic plc will post 5.46 EPS for the current fiscal year.

Medtronic Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, October 11th. Investors of record on Friday, September 27th will be given a $0.70 dividend. The ex-dividend date is Friday, September 27th. This represents a $2.80 annualized dividend and a dividend yield of 3.14%. Medtronic’s dividend payout ratio (DPR) is presently 101.82%.

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.