Donaldson Capital Management LLC Lowers Stake in Medtronic plc (NYSE:MDT)

Donaldson Capital Management LLC lowered its stake in Medtronic plc (NYSE:MDT) by 91.3% during the fourth quarter, Holdings Channel.com reports. The fund owned 3,411 shares of the medical technology company’s stock after selling 35,649 shares during the quarter. Donaldson Capital Management LLC’s holdings in Medtronic were worth $281,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Fortitude Family Office LLC purchased a new stake in Medtronic during the 4th quarter worth approximately $25,000. Hartford Financial Management Inc. boosted its stake in shares of Medtronic by 425.0% in the third quarter. Hartford Financial Management Inc. now owns 315 shares of the medical technology company’s stock worth $25,000 after acquiring an additional 255 shares during the last quarter. Financial Gravity Asset Management Inc. increased its position in shares of Medtronic by 317.0% during the third 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 in the last quarter. Fairfield Bush & CO. acquired a new position in Medtronic in the 2nd quarter valued at $32,000. Finally, Certified Advisory Corp purchased a new position in Medtronic in the 1st quarter valued at $31,000. Institutional investors and hedge funds own 82.06% of the company’s stock.

Insider Activity

In related news, EVP Michael Marinaro sold 854 shares of Medtronic 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 completion of the transaction, the executive vice president now directly owns 27,925 shares in the company, valued at $2,321,684.50. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In related news, EVP Sean Salmon sold 30,695 shares of the business’s stock in a transaction that occurred 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 completion of the sale, the executive vice president now owns 48,289 shares in the company, valued at $4,110,842.57. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP Michael Marinaro sold 854 shares of the stock in a transaction that occurred on Monday, April 8th. The shares were 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 owns 27,925 shares in the company, valued at $2,321,684.50. The disclosure for this sale can be found here. Insiders own 0.30% of the company’s stock.

Medtronic Trading Down 1.3 %

Shares of MDT stock traded down $1.02 during trading hours on Tuesday, hitting $79.21. The company had a trading volume of 1,390,635 shares, compared to its average volume of 6,232,924. Medtronic plc has a fifty-two week low of $68.84 and a fifty-two week high of $92.02. 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 company’s fifty day moving average is $84.52 and its 200 day moving average is $81.02. The stock has a market capitalization of $105.18 billion, a PE ratio of 25.55, a price-to-earnings-growth ratio of 2.74 and a beta of 0.76.

Medtronic (NYSE:MDT) last released its quarterly earnings results on Tuesday, February 20th. The medical technology company reported $1.30 EPS for the quarter, topping the consensus estimate of $1.26 by $0.04. The business had revenue of $8.09 billion during the quarter, compared to analyst estimates of $7.95 billion. Medtronic had a return on equity of 13.71% and a net margin of 13.00%. The company’s quarterly revenue was up 4.7% on a year-over-year basis. During the same period last year, the business posted $1.30 earnings per share. Research analysts expect that Medtronic plc will post 5.2 earnings per share for the current fiscal year.

Medtronic Announces Dividend

The firm also recently declared 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. The ex-dividend date of this dividend was Thursday, March 21st. This represents a $2.76 annualized dividend and a dividend yield of 3.48%. Medtronic’s dividend payout ratio is presently 87.90%.

Wall Street Analysts Forecast Growth

MDT has been the topic of a number of research reports. Oppenheimer raised their target price on shares of 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 price objective on shares of Medtronic in a research note on Wednesday, February 21st. Truist Financial raised 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. Finally, Mizuho boosted 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 equities research analyst has rated the stock with a sell rating, four have issued a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat, Medtronic presently has a consensus rating of “Moderate Buy” and a consensus target price of $94.91.

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.