Park Edge Advisors LLC Sells 700 Shares of Medtronic plc (NYSE:MDT)

Park Edge Advisors LLC trimmed its stake in Medtronic plc (NYSE:MDT) by 16.4% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 3,575 shares of the medical technology company’s stock after selling 700 shares during the period. Park Edge Advisors LLC’s holdings in Medtronic were worth $286,000 as of its most recent SEC filing.

A number of other large investors have also recently modified their holdings of the stock. KFG Wealth Management LLC grew its holdings in shares of Medtronic by 5.5% during the 4th quarter. KFG Wealth Management LLC now owns 2,725 shares of the medical technology company’s stock worth $218,000 after acquiring an additional 141 shares during the period. Affiance Financial LLC boosted its position in shares of Medtronic by 22.1% during the fourth quarter. Affiance Financial LLC now owns 3,873 shares of the medical technology company’s stock valued at $309,000 after purchasing an additional 700 shares in the last quarter. Olstein Capital Management L.P. grew its stake in Medtronic by 8.0% in the fourth quarter. Olstein Capital Management L.P. now owns 94,000 shares of the medical technology company’s stock worth $7,509,000 after purchasing an additional 7,000 shares during the period. Flagship Harbor Advisors LLC raised its holdings in Medtronic by 33.2% in the fourth quarter. Flagship Harbor Advisors LLC now owns 10,594 shares of the medical technology company’s stock worth $846,000 after purchasing an additional 2,638 shares in the last quarter. Finally, Insight Inv LLC boosted its holdings in shares of Medtronic by 4.9% during the 4th quarter. Insight Inv LLC now owns 14,906 shares of the medical technology company’s stock valued at $1,191,000 after buying an additional 698 shares in the last quarter. Institutional investors own 82.06% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on the stock. Royal Bank of Canada raised shares of Medtronic from a “sector perform” rating to an “outperform” rating and lifted their price target for the company from $98.00 to $105.00 in a research report on Thursday, October 10th. Citigroup boosted their price target on Medtronic from $85.00 to $92.00 and gave the stock a “neutral” rating in a research report on Tuesday, October 1st. Sanford C. Bernstein upped their price target on Medtronic from $96.00 to $97.00 and gave the stock an “outperform” rating in a research note on Wednesday, November 20th. Wells Fargo & Company lowered their price objective on Medtronic from $106.00 to $98.00 and set an “overweight” rating for the company in a research note on Wednesday, November 20th. Finally, Truist Financial cut their target price on Medtronic from $93.00 to $89.00 and set a “hold” rating on the stock in a research note on Wednesday, December 18th. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating, six have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $95.00.

Medtronic Stock Up 0.9 %

MDT opened at $90.07 on Friday. Medtronic plc has a twelve month low of $75.96 and a twelve month high of $92.68. The company has a quick ratio of 1.39, a current ratio of 1.84 and a debt-to-equity ratio of 0.51. The firm has a 50 day moving average price of $83.75 and a 200-day moving average price of $85.50. The stock has a market capitalization of $115.49 billion, a price-to-earnings ratio of 27.54, a PEG ratio of 2.49 and a beta of 0.83.

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

Medtronic Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, January 10th. Shareholders of record on Friday, December 27th were paid a dividend of $0.70 per share. The ex-dividend date of this dividend was Friday, December 27th. This represents a $2.80 dividend on an annualized basis and a dividend yield of 3.11%. Medtronic’s dividend payout ratio is currently 85.63%.

Insider Activity

In other news, EVP Brett A. Wall sold 9,850 shares of the business’s stock in a transaction on Wednesday, January 8th. The shares were sold at an average price of $80.41, for a total transaction of $792,038.50. Following the completion of the sale, the executive vice president now owns 40,708 shares of the company’s stock, valued at $3,273,330.28. The trade was a 19.48 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Insiders own 0.20% of the company’s stock.

Medtronic Company 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.