Greenleaf Trust Decreases Position in Medtronic plc (NYSE:MDT)

Greenleaf Trust cut its stake in shares of Medtronic plc (NYSE:MDT) by 57.1% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 8,456 shares of the medical technology company’s stock after selling 11,271 shares during the period. Greenleaf Trust’s holdings in Medtronic were worth $697,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also recently modified their holdings of the business. Marino Stram & Associates LLC boosted its holdings in shares of Medtronic by 1.8% during the 4th quarter. Marino Stram & Associates LLC now owns 7,127 shares of the medical technology company’s stock worth $587,000 after purchasing an additional 126 shares during the last quarter. Modera Wealth Management LLC boosted its holdings in shares of Medtronic by 3.9% during the 3rd quarter. Modera Wealth Management LLC now owns 3,537 shares of the medical technology company’s stock worth $277,000 after purchasing an additional 133 shares during the last quarter. jvl associates llc boosted its holdings in shares of Medtronic by 3.8% during the 4th quarter. jvl associates llc now owns 3,840 shares of the medical technology company’s stock worth $316,000 after purchasing an additional 139 shares during the last quarter. Washington Trust Advisors Inc. boosted its holdings in shares of Medtronic by 7.1% during the 3rd quarter. Washington Trust Advisors Inc. now owns 2,102 shares of the medical technology company’s stock worth $165,000 after purchasing an additional 140 shares during the last quarter. Finally, Dfpg Investments LLC boosted its holdings in shares of Medtronic by 0.3% during the 4th quarter. Dfpg Investments LLC now owns 53,045 shares of the medical technology company’s stock worth $4,413,000 after purchasing an additional 142 shares during the last quarter. 82.06% of the stock is currently owned by hedge funds and other institutional investors.

Medtronic Stock Up 1.4 %

Shares of NYSE MDT opened at $80.56 on Tuesday. The firm has a market cap of $106.97 billion, a price-to-earnings ratio of 25.66, a PEG ratio of 2.72 and a beta of 0.76. The company has a quick ratio of 1.71, a current ratio of 2.30 and a debt-to-equity ratio of 0.46. Medtronic plc has a 52-week low of $68.84 and a 52-week high of $92.02. The business’s 50 day moving average is $83.84 and its two-hundred day moving average is $81.11.

Medtronic (NYSE:MDT) last announced its earnings results on Tuesday, February 20th. The medical technology company reported $1.30 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.26 by $0.04. Medtronic had a return on equity of 13.71% and a net margin of 13.00%. The company had revenue of $8.09 billion for the quarter, compared to analyst estimates of $7.95 billion. During the same quarter in the previous year, the company earned $1.30 earnings per share. The firm’s quarterly revenue was up 4.7% compared to the same quarter last year. Research analysts predict that Medtronic plc will post 5.2 EPS for the current year.

Medtronic Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, April 12th. Stockholders of record on Friday, March 22nd were given a dividend of $0.69 per share. This represents a $2.76 dividend on an annualized basis and a dividend yield of 3.43%. The ex-dividend date of this dividend was Thursday, March 21st. Medtronic’s dividend payout ratio is currently 87.90%.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on the stock. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $92.00 price target on shares of Medtronic in a research report on Wednesday, February 21st. Oppenheimer lifted their price target on shares of Medtronic from $89.00 to $92.00 and gave the company a “market perform” rating in a research report on Wednesday, February 21st. Truist Financial lifted their price target on shares of Medtronic from $87.00 to $90.00 and gave the company a “hold” rating in a research report on Wednesday, February 21st. Finally, Mizuho lifted their price target on shares of Medtronic from $95.00 to $98.00 and gave the company a “buy” rating in a research report on Wednesday, February 21st. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat, Medtronic has a consensus rating of “Moderate Buy” and an average target price of $94.91.

Insider Transactions at Medtronic

In other news, EVP Sean Salmon sold 30,695 shares of the company’s stock in a transaction on Wednesday, February 21st. The stock was sold at an average price of $85.13, for a total transaction of $2,613,065.35. Following the sale, the executive vice president now owns 48,289 shares of the company’s stock, valued at $4,110,842.57. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, EVP Sean Salmon sold 30,695 shares of the company’s stock in a transaction on Wednesday, February 21st. The stock was sold at an average price of $85.13, for a total transaction of $2,613,065.35. Following the sale, the executive vice president now owns 48,289 shares of the company’s stock, valued at $4,110,842.57. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Michael Marinaro sold 854 shares of the company’s stock in a transaction on Monday, April 8th. The stock was sold at an average price of $83.14, for a total value of $71,001.56. Following the sale, 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. Corporate insiders own 0.30% of the company’s stock.

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.