Medtronic plc (NYSE:MDT) Shares Sold by Peloton Wealth Strategists

Peloton Wealth Strategists cut its stake in shares of Medtronic plc (NYSE:MDTGet Rating) by 4.1% during the 4th quarter, according to its most recent filing with the SEC. The institutional investor owned 36,854 shares of the medical technology company’s stock after selling 1,565 shares during the period. Medtronic makes up approximately 1.5% of Peloton Wealth Strategists’ holdings, making the stock its 27th largest holding. Peloton Wealth Strategists’ holdings in Medtronic were worth $3,813,000 at the end of the most recent reporting period.

A number of other institutional investors also recently added to or reduced their stakes in MDT. Gulf International Bank UK Ltd acquired a new position in shares of Medtronic in the 4th quarter valued at approximately $23,005,000. Braun Stacey Associates Inc. acquired a new stake in shares of Medtronic during the 3rd quarter valued at approximately $16,242,000. TownSquare Capital LLC raised its position in shares of Medtronic by 14.6% during the 3rd quarter. TownSquare Capital LLC now owns 52,817 shares of the medical technology company’s stock valued at $6,620,000 after acquiring an additional 6,745 shares in the last quarter. Renaissance Technologies LLC raised its position in shares of Medtronic by 128.5% during the 3rd quarter. Renaissance Technologies LLC now owns 457,841 shares of the medical technology company’s stock valued at $57,390,000 after acquiring an additional 257,500 shares in the last quarter. Finally, Sanders Capital LLC raised its position in shares of Medtronic by 3.3% during the 3rd quarter. Sanders Capital LLC now owns 10,666,014 shares of the medical technology company’s stock valued at $1,478,609,000 after acquiring an additional 339,798 shares in the last quarter. 80.23% of the stock is currently owned by hedge funds and other institutional investors.

Medtronic stock traded up $1.56 during mid-day trading on Friday, hitting $102.67. 3,525,869 shares of the company’s stock were exchanged, compared to its average volume of 5,166,020. The company has a current ratio of 2.61, a quick ratio of 2.10 and a debt-to-equity ratio of 0.46. The stock has a market cap of $137.74 billion, a P/E ratio of 28.28, a P/E/G ratio of 2.29 and a beta of 0.74. Medtronic plc has a 1-year low of $98.38 and a 1-year high of $135.89. The stock has a 50 day moving average of $107.55 and a two-hundred day moving average of $108.41.

Medtronic (NYSE:MDTGet Rating) last posted its earnings results on Tuesday, February 22nd. The medical technology company reported $1.37 EPS for the quarter, topping the consensus estimate of $1.36 by $0.01. The firm had revenue of $7.76 billion for the quarter, compared to the consensus estimate of $7.91 billion. Medtronic had a net margin of 15.46% and a return on equity of 14.57%. The business’s quarterly revenue was down .2% on a year-over-year basis. During the same period in the prior year, the business posted $1.29 earnings per share. As a group, research analysts predict that Medtronic plc will post 5.66 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which was paid on Friday, April 22nd. Stockholders of record on Friday, March 25th were given a $0.63 dividend. This represents a $2.52 annualized dividend and a dividend yield of 2.45%. The ex-dividend date was Thursday, March 24th. Medtronic’s dividend payout ratio is currently 69.42%.

In other news, SVP Carol A. Surface sold 6,000 shares of the firm’s stock in a transaction dated Friday, March 11th. The stock was sold at an average price of $105.30, for a total value of $631,800.00. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CFO Karen L. Parkhill sold 682 shares of the firm’s stock in a transaction dated Friday, March 18th. The shares were sold at an average price of $110.00, for a total value of $75,020.00. The disclosure for this sale can be found here. Company insiders own 0.47% of the company’s stock.

MDT has been the topic of several research reports. StockNews.com initiated coverage on Medtronic in a research report on Thursday, March 31st. They set a “buy” rating on the stock. Citigroup dropped their price target on Medtronic from $130.00 to $129.00 and set a “buy” rating on the stock in a research report on Wednesday, January 19th. Raymond James dropped their target price on Medtronic from $127.00 to $116.00 and set an “outperform” rating on the stock in a research report on Friday, February 18th. Piper Sandler dropped their target price on Medtronic from $110.00 to $105.00 and set a “neutral” rating on the stock in a research report on Wednesday, February 16th. Finally, The Goldman Sachs Group dropped their target price on Medtronic from $129.00 to $115.00 and set a “neutral” rating on the stock in a research report on Tuesday, January 18th. Eleven research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus target price of $128.19.

About Medtronic (Get Rating)

Medtronic plc develops, manufactures, distributes, and sells device-based medical therapies to hospitals, physicians, clinicians, and patients worldwide. It operates through four segments: Cardiovascular Portfolio, Neuroscience Portfolio, Medical Surgical Portfolio, and Diabetes Operating Unit. The Cardiovascular Portfolio segment offers implantable cardiac pacemakers, cardioverter defibrillators, and cardiac resynchronization therapy devices; AF ablation products; insertable cardiac monitor systems; mechanical circulatory support; TYRX products; and remote monitoring and patient-centered software.

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Institutional Ownership by Quarter for Medtronic (NYSE:MDT)

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