Medtronic plc (NYSE:MDT) Shares Sold by Golden State Equity Partners

Golden State Equity Partners lowered its position in Medtronic plc (NYSE:MDT) by 24.3% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 10,963 shares of the medical technology company’s stock after selling 3,510 shares during the period. Golden State Equity Partners’ holdings in Medtronic were worth $903,000 at the end of the most recent quarter.

A number of other large investors have also modified their holdings of MDT. Pzena Investment Management LLC raised its position in shares of Medtronic by 112.8% in the third quarter. Pzena Investment Management LLC now owns 5,730,577 shares of the medical technology company’s stock worth $449,048,000 after acquiring an additional 3,037,394 shares during the period. Morgan Stanley raised its position in shares of Medtronic by 9.2% in the third quarter. Morgan Stanley now owns 23,777,808 shares of the medical technology company’s stock worth $1,863,229,000 after acquiring an additional 1,994,123 shares during the period. Envestnet Asset Management Inc. raised its position in shares of Medtronic by 30.1% in the third quarter. Envestnet Asset Management Inc. now owns 5,181,266 shares of the medical technology company’s stock worth $406,004,000 after acquiring an additional 1,199,639 shares during the period. Caisse DE Depot ET Placement DU Quebec raised its position in shares of Medtronic by 78.4% during the 3rd quarter. Caisse DE Depot ET Placement DU Quebec now owns 2,356,359 shares of the medical technology company’s stock worth $184,644,000 after purchasing an additional 1,035,747 shares during the last quarter. Finally, International Assets Investment Management LLC raised its position in shares of Medtronic by 8,340.3% during the 4th quarter. International Assets Investment Management LLC now owns 1,038,579 shares of the medical technology company’s stock worth $85,558,000 after purchasing an additional 1,026,274 shares during the last quarter. Institutional investors and hedge funds own 82.06% of the company’s stock.

Insider Activity

In other 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 value of $71,001.56. Following the sale, the executive vice president now directly owns 27,925 shares in the company, valued at approximately $2,321,684.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other Medtronic 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 transaction, the executive vice president now directly owns 48,289 shares of the company’s stock, valued at approximately $4,110,842.57. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Michael Marinaro sold 854 shares of the firm’s stock in a transaction on Monday, April 8th. The stock was sold at an average price of $83.14, for a total transaction of $71,001.56. Following the transaction, the executive vice president now directly owns 27,925 shares in the company, valued at $2,321,684.50. The disclosure for this sale can be found here. Company insiders own 0.30% of the company’s stock.

Medtronic Trading Up 0.6 %

Shares of NYSE:MDT traded up $0.49 during mid-day trading on Friday, reaching $79.74. 5,024,880 shares of the company were exchanged, compared to its average volume of 5,781,218. 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 firm has a market cap of $105.88 billion, a price-to-earnings ratio of 25.39, a P/E/G ratio of 2.71 and a beta of 0.76. The firm’s 50-day simple moving average is $83.53 and its 200 day simple moving average is $81.16. Medtronic plc has a 1 year low of $68.84 and a 1 year high of $92.02.

Medtronic (NYSE:MDT) last issued its quarterly earnings results on Tuesday, February 20th. The medical technology company reported $1.30 EPS for the quarter, beating 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 company 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 EPS. The firm’s revenue was up 4.7% compared to the same quarter last year. Equities research analysts forecast that Medtronic plc will post 5.2 EPS for the current year.

Medtronic Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, April 12th. Stockholders of record on Friday, March 22nd were issued a $0.69 dividend. The ex-dividend date was Thursday, March 21st. This represents a $2.76 dividend on an annualized basis and a dividend yield of 3.46%. Medtronic’s payout ratio is 87.90%.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on MDT. Truist Financial upped their price target on shares of Medtronic from $87.00 to $90.00 and gave the stock a “hold” rating in a research report on Wednesday, February 21st. Mizuho upped their price target on shares of Medtronic from $95.00 to $98.00 and gave the stock a “buy” rating in a research report on Wednesday, February 21st. Royal Bank of Canada restated a “sector perform” rating and set a $92.00 price target on shares of Medtronic in a research report on Wednesday, February 21st. Finally, Oppenheimer upped their price target on shares of Medtronic from $89.00 to $92.00 and gave the stock a “market perform” 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 six have given a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $94.91.

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.