Jacobs & Co. CA Sells 1,579 Shares of Medtronic plc (NYSE:MDT)

Jacobs & Co. CA reduced its stake in Medtronic plc (NYSE:MDT) by 4.0% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 37,613 shares of the medical technology company’s stock after selling 1,579 shares during the period. Jacobs & Co. CA’s holdings in Medtronic were worth $3,098,000 as of its most recent SEC filing.

A number of other institutional investors have also recently modified their holdings of the stock. Bollard Group LLC lifted its holdings in Medtronic by 1.8% in the second quarter. Bollard Group LLC now owns 6,955 shares of the medical technology company’s stock valued at $613,000 after acquiring an additional 121 shares during the period. DT Investment Partners LLC grew its holdings in Medtronic by 1.0% during the 2nd quarter. DT Investment Partners LLC now owns 12,076 shares of the medical technology company’s stock valued at $1,059,000 after buying an additional 124 shares in the last quarter. SRS Capital Advisors Inc. grew its holdings in Medtronic by 19.6% during the 2nd quarter. SRS Capital Advisors Inc. now owns 782 shares of the medical technology company’s stock valued at $69,000 after buying an additional 128 shares in the last quarter. Modera Wealth Management LLC boosted its holdings in shares of Medtronic by 3.9% in 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 period. Finally, jvl associates llc boosted its holdings in shares of Medtronic by 3.8% in 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 period. 82.06% of the stock is owned by hedge funds and other institutional investors.

Medtronic Stock Up 3.8 %

Shares of NYSE MDT opened at $86.92 on Thursday. The company has a market capitalization of $115.41 billion, a price-to-earnings ratio of 27.68, a price-to-earnings-growth ratio of 2.86 and a beta of 0.76. The company has a debt-to-equity ratio of 0.46, a current ratio of 2.30 and a quick ratio of 1.71. The business has a 50-day moving average of $85.21 and a two-hundred day moving average of $80.68. Medtronic plc has a 1 year low of $68.84 and a 1 year high of $92.02.

Medtronic (NYSE:MDT) last posted its earnings results on Tuesday, February 20th. The medical technology company reported $1.30 EPS for the quarter, topping 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 business had revenue of $8.09 billion for the quarter, compared to analysts’ expectations of $7.95 billion. During the same quarter in the previous year, the firm earned $1.30 earnings per share. The business’s revenue was up 4.7% compared to the same quarter last year. On average, analysts forecast that Medtronic plc will post 5.2 earnings per share for the current fiscal year.

Medtronic Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, April 12th. Investors of record on Friday, March 22nd will be given a $0.69 dividend. This represents a $2.76 annualized dividend and a yield of 3.18%. The ex-dividend date of this dividend is Thursday, March 21st. Medtronic’s dividend payout ratio (DPR) is presently 87.90%.

Insider Activity at Medtronic

In related news, EVP Sean Salmon sold 30,695 shares of the business’s stock in a transaction dated Wednesday, February 21st. The stock was 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 owns 48,289 shares in the company, valued at approximately $4,110,842.57. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.30% of the stock is currently owned by insiders.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on the company. Mizuho raised their price target on Medtronic from $95.00 to $98.00 and gave the stock a “buy” rating in a research note on Wednesday, February 21st. Royal Bank of Canada reiterated a “sector perform” rating and issued a $92.00 price target on shares of Medtronic in a report on Wednesday, February 21st. Oppenheimer lifted their price target on Medtronic from $89.00 to $92.00 and gave the company a “market perform” rating in a report on Wednesday, February 21st. Finally, Truist Financial boosted their target price on Medtronic from $87.00 to $90.00 and gave the stock a “hold” rating in a research note on Wednesday, February 21st. One investment analyst has rated the stock with a sell rating, four have given a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $94.91.

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.