Bison Wealth LLC Sells 307 Shares of Medtronic plc (NYSE:MDT)

Bison Wealth LLC cut its holdings in shares of Medtronic plc (NYSE:MDT) by 5.2% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 5,647 shares of the medical technology company’s stock after selling 307 shares during the period. Bison Wealth LLC’s holdings in Medtronic were worth $465,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Syntax Research Inc. boosted its stake in shares of Medtronic by 4.1% during the fourth quarter. Syntax Research Inc. now owns 5,814 shares of the medical technology company’s stock valued at $479,000 after purchasing an additional 228 shares in the last quarter. Cullen Investment Group LTD. bought a new position in shares of Medtronic during the fourth quarter valued at approximately $5,618,000. Cornercap Investment Counsel Inc. bought a new position in shares of Medtronic during the fourth quarter valued at approximately $943,000. Strs Ohio boosted its stake in shares of Medtronic by 23.3% during the fourth quarter. Strs Ohio now owns 994,593 shares of the medical technology company’s stock valued at $81,934,000 after purchasing an additional 188,154 shares in the last quarter. Finally, Conning Inc. boosted its stake in Medtronic by 4.4% in the fourth quarter. Conning Inc. now owns 35,108 shares of the medical technology company’s stock valued at $2,892,000 after acquiring an additional 1,490 shares in the last quarter. 82.06% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on MDT shares. Mizuho raised their target price on shares of Medtronic from $95.00 to $98.00 and gave the company a “buy” rating in a research note on Wednesday, February 21st. Truist Financial raised their target price on shares of Medtronic from $87.00 to $90.00 and gave the company a “hold” rating in a research note on Wednesday, February 21st. Oppenheimer raised their target price on shares of Medtronic from $89.00 to $92.00 and gave the company a “market perform” rating in a research note on Wednesday, February 21st. Finally, Royal Bank of Canada restated a “sector perform” rating and issued a $92.00 target price on shares of Medtronic in a research note on Wednesday, February 21st. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $94.91.

Medtronic Trading Down 1.2 %

NYSE MDT opened at $79.25 on Wednesday. The company has a fifty day simple moving average of $84.35 and a two-hundred day simple moving average of $81.02. The stock has a market cap of $105.23 billion, a P/E ratio of 25.24, a P/E/G ratio of 2.74 and a beta of 0.76. Medtronic plc has a 12-month low of $68.84 and a 12-month high of $92.02. The company has a current ratio of 2.30, a quick ratio of 1.71 and a debt-to-equity ratio of 0.46.

Medtronic (NYSE:MDT) last issued its earnings results on Tuesday, February 20th. The medical technology company reported $1.30 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.26 by $0.04. Medtronic had a net margin of 13.00% and a return on equity of 13.71%. The firm had revenue of $8.09 billion during the quarter, compared to analysts’ expectations of $7.95 billion. During the same quarter last year, the company posted $1.30 earnings per share. The firm’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 year.

Medtronic Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, April 12th. Investors of record on Friday, March 22nd were issued a dividend of $0.69 per share. The ex-dividend date was Thursday, March 21st. This represents a $2.76 annualized dividend and a dividend yield of 3.48%. Medtronic’s dividend payout ratio (DPR) is presently 87.90%.

Insider Buying and Selling

In related news, EVP Michael Marinaro sold 854 shares of the firm’s stock in a transaction 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 of the company’s stock, valued at $2,321,684.50. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In related news, EVP Sean Salmon sold 30,695 shares of the firm’s stock in a transaction on Wednesday, February 21st. The shares were sold at an average price of $85.13, for a total transaction of $2,613,065.35. Following 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 can be accessed through this link. Also, EVP Michael Marinaro sold 854 shares of the firm’s stock in a transaction 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 sale, the executive vice president now owns 27,925 shares in the company, valued at approximately $2,321,684.50. The disclosure for this sale can be found here. 0.30% of the stock is currently owned by corporate insiders.

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.