Citizens Financial Group Inc. RI Sells 3,626 Shares of Medtronic plc (NYSE:MDT)

Citizens Financial Group Inc. RI decreased its position in Medtronic plc (NYSE:MDT) by 54.3% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 3,048 shares of the medical technology company’s stock after selling 3,626 shares during the quarter. Citizens Financial Group Inc. RI’s holdings in Medtronic were worth $251,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Fortitude Family Office LLC bought a new stake in Medtronic in the 4th quarter worth approximately $25,000. Hartford Financial Management Inc. increased its stake in Medtronic by 425.0% in the 3rd quarter. Hartford Financial Management Inc. now owns 315 shares of the medical technology company’s stock worth $25,000 after purchasing an additional 255 shares during the period. Financial Gravity Asset Management Inc. increased its stake in Medtronic by 317.0% in the 3rd quarter. Financial Gravity Asset Management Inc. now owns 367 shares of the medical technology company’s stock worth $29,000 after purchasing an additional 279 shares during the period. Princeton Global Asset Management LLC purchased a new position in Medtronic in the 3rd quarter worth approximately $31,000. Finally, Rakuten Securities Inc. purchased a new position in Medtronic in the 4th quarter worth approximately $49,000. Institutional investors own 82.06% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have commented on the company. Oppenheimer lifted their price target on Medtronic from $89.00 to $92.00 and gave the stock a “market perform” rating in a research note on Wednesday, February 21st. Royal Bank of Canada reissued a “sector perform” rating and set a $92.00 target price on shares of Medtronic in a research note on Wednesday, February 21st. Truist Financial boosted their target price on Medtronic from $87.00 to $90.00 and gave the company a “hold” rating in a research note on Wednesday, February 21st. Finally, Mizuho boosted their target price on Medtronic from $95.00 to $98.00 and gave the company a “buy” rating in a research note on Wednesday, February 21st. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $94.91.

Medtronic Stock Up 0.6 %

MDT stock opened at $79.74 on Monday. Medtronic plc has a fifty-two week low of $68.84 and a fifty-two week high of $92.02. The business’s 50-day moving average is $83.53 and its two-hundred day moving average is $81.25. The company has a debt-to-equity ratio of 0.46, a quick ratio of 1.71 and a current ratio of 2.30. The company has a market cap of $105.88 billion, a price-to-earnings ratio of 25.39, a P/E/G ratio of 2.73 and a beta of 0.76.

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

Medtronic Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, April 12th. Shareholders of record on Friday, March 22nd were given a $0.69 dividend. This represents a $2.76 dividend on an annualized basis and a yield of 3.46%. The ex-dividend date of this dividend was Thursday, March 21st. Medtronic’s payout ratio is 87.90%.

Insiders Place Their Bets

In related news, EVP Michael Marinaro sold 854 shares of the stock in a transaction dated Monday, April 8th. The stock was sold at an average price of $83.14, for a total transaction of $71,001.56. Following the completion of the sale, the executive vice president now owns 27,925 shares in the company, valued at $2,321,684.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, EVP Michael Marinaro sold 854 shares of the stock in a transaction that occurred on Monday, April 8th. The stock was sold at an average price of $83.14, for a total transaction of $71,001.56. Following the completion of the transaction, the executive vice president now directly owns 27,925 shares of the company’s stock, valued at $2,321,684.50. The sale was disclosed in a filing with the SEC, which is available through this link. Also, EVP Sean Salmon sold 30,695 shares of the stock in a transaction that occurred on Wednesday, February 21st. The shares were sold at an average price of $85.13, for a total value of $2,613,065.35. Following the transaction, the executive vice president now directly owns 48,289 shares of the company’s stock, valued at $4,110,842.57. The disclosure for this sale can be found here. Company insiders own 0.30% of the company’s stock.

Medtronic Profile

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.