MassMutual Private Wealth & Trust FSB Cuts Stake in Medtronic plc (NYSE:MDT)

MassMutual Private Wealth & Trust FSB lessened its stake in shares of Medtronic plc (NYSE:MDT) by 5.2% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 95,905 shares of the medical technology company’s stock after selling 5,258 shares during the period. MassMutual Private Wealth & Trust FSB’s holdings in Medtronic were worth $7,661,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of MDT. Edgestream Partners L.P. acquired a new stake in shares of Medtronic in the second quarter valued at about $239,000. AE Wealth Management LLC grew its stake in Medtronic by 24.7% during the 2nd quarter. AE Wealth Management LLC now owns 9,578 shares of the medical technology company’s stock valued at $754,000 after acquiring an additional 1,896 shares in the last quarter. Pacer Advisors Inc. raised its holdings in Medtronic by 37.6% in the 2nd quarter. Pacer Advisors Inc. now owns 124,197 shares of the medical technology company’s stock valued at $9,776,000 after acquiring an additional 33,959 shares during the last quarter. Summit Trail Advisors LLC lifted its stake in Medtronic by 1.2% in the 2nd quarter. Summit Trail Advisors LLC now owns 14,812 shares of the medical technology company’s stock worth $1,176,000 after purchasing an additional 169 shares in the last quarter. Finally, Ensign Peak Advisors Inc boosted its holdings in shares of Medtronic by 5.9% during the 2nd quarter. Ensign Peak Advisors Inc now owns 388,629 shares of the medical technology company’s stock worth $30,589,000 after purchasing an additional 21,545 shares during the last quarter. 82.06% of the stock is owned by hedge funds and other institutional investors.

Medtronic Trading Up 1.2 %

Shares of NYSE MDT opened at $88.23 on Monday. The company has a current ratio of 1.84, a quick ratio of 1.39 and a debt-to-equity ratio of 0.51. The stock has a market capitalization of $113.13 billion, a PE ratio of 26.98, a PEG ratio of 2.28 and a beta of 0.83. Medtronic plc has a twelve month low of $75.96 and a twelve month high of $92.68. The stock has a fifty day simple moving average of $83.64 and a 200-day simple moving average of $85.16.

Medtronic (NYSE:MDT) last released its earnings results on Tuesday, November 19th. The medical technology company reported $1.26 earnings per share for the quarter, beating the consensus estimate of $1.25 by $0.01. The company had revenue of $8.40 billion during the quarter, compared to the consensus estimate of $8.27 billion. Medtronic had a return on equity of 13.79% and a net margin of 13.00%. Medtronic’s revenue was up 5.2% compared to the same quarter last year. During the same period in the previous year, the company posted $1.25 EPS. On average, equities analysts forecast that Medtronic plc will post 5.45 earnings per share for the current year.

Medtronic Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, January 10th. Shareholders of record on Friday, December 27th were issued a dividend of $0.70 per share. The ex-dividend date was Friday, December 27th. This represents a $2.80 dividend on an annualized basis and a yield of 3.17%. Medtronic’s dividend payout ratio (DPR) is presently 85.63%.

Insider Buying and Selling at Medtronic

In other news, EVP Brett A. Wall sold 9,850 shares of Medtronic stock in a transaction dated Wednesday, January 8th. The stock was sold at an average price of $80.41, for a total value of $792,038.50. Following the completion of the transaction, the executive vice president now owns 40,708 shares in the company, valued at approximately $3,273,330.28. This trade represents a 19.48 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 0.20% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on MDT shares. Needham & Company LLC reaffirmed a “hold” rating on shares of Medtronic in a report on Monday, November 18th. Wells Fargo & Company cut their target price on Medtronic from $106.00 to $98.00 and set an “overweight” rating for the company in a research note on Wednesday, November 20th. JPMorgan Chase & Co. lowered their price target on shares of Medtronic from $99.00 to $96.00 and set a “neutral” rating on the stock in a research report on Friday, November 15th. Barclays raised their price objective on shares of Medtronic from $105.00 to $109.00 and gave the stock an “overweight” rating in a research report on Tuesday, November 26th. Finally, Truist Financial decreased their target price on shares of Medtronic from $93.00 to $89.00 and set a “hold” rating on the stock in a report on Wednesday, December 18th. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating, six have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $95.00.

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.