Medtronic plc (NYSE:MDT) Shares Sold by Mark Sheptoff Financial Planning LLC

Mark Sheptoff Financial Planning LLC lessened its position in Medtronic plc (NYSE:MDT) by 18.3% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 2,908 shares of the medical technology company’s stock after selling 650 shares during the period. Mark Sheptoff Financial Planning LLC’s holdings in Medtronic were worth $240,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Fortitude Family Office LLC acquired a new position in Medtronic during the fourth quarter worth about $25,000. MeadowBrook Investment Advisors LLC purchased a new stake in Medtronic in the fourth quarter valued at approximately $27,000. Financial Gravity Asset Management Inc. grew its holdings in Medtronic by 317.0% in the third quarter. Financial Gravity Asset Management Inc. now owns 367 shares of the medical technology company’s stock valued at $29,000 after purchasing an additional 279 shares during the period. Hartford Financial Management Inc. grew its stake in Medtronic by 52.1% during the fourth quarter. Hartford Financial Management Inc. now owns 479 shares of the medical technology company’s stock worth $39,000 after buying an additional 164 shares during the period. Finally, Missouri Trust & Investment Co grew its stake in Medtronic by 405.0% during the fourth quarter. Missouri Trust & Investment Co now owns 505 shares of the medical technology company’s stock worth $42,000 after buying an additional 405 shares during the period. Institutional investors and hedge funds own 82.06% of the company’s stock.

Insider Buying and Selling at Medtronic

In other news, EVP Michael Marinaro sold 854 shares of the firm’s stock in a transaction dated 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 approximately $2,321,684.50. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. 0.30% of the stock is owned by corporate insiders.

Medtronic Stock Performance

Shares of MDT stock traded down $3.58 during trading hours on Thursday, reaching $82.18. The stock had a trading volume of 7,154,794 shares, compared to its average volume of 6,121,236. The company has a debt-to-equity ratio of 0.46, a current ratio of 2.30 and a quick ratio of 1.71. Medtronic plc has a twelve month low of $68.84 and a twelve month high of $91.00. The firm has a 50-day simple moving average of $82.90 and a 200-day simple moving average of $82.62. The firm has a market capitalization of $109.12 billion, a PE ratio of 26.66, a price-to-earnings-growth ratio of 2.78 and a beta of 0.78.

Medtronic (NYSE:MDT) last released its earnings results on Thursday, May 23rd. The medical technology company reported $1.46 EPS for the quarter, beating the consensus estimate of $1.45 by $0.01. The firm had revenue of $8.59 billion for the quarter, compared to analysts’ expectations of $8.44 billion. Medtronic had a net margin of 13.00% and a return on equity of 13.71%. Medtronic’s quarterly revenue was up .5% on a year-over-year basis. During the same quarter last year, the company earned $1.57 EPS. As a group, equities analysts forecast that Medtronic plc will post 5.2 earnings per share for the current year.

Medtronic Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, July 12th. Shareholders of record on Friday, June 28th will be paid a dividend of $0.70 per share. This is a boost from Medtronic’s previous quarterly dividend of $0.69. This represents a $2.80 annualized dividend and a yield of 3.41%. Medtronic’s dividend payout ratio (DPR) is presently 87.90%.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on MDT shares. Oppenheimer boosted their price objective 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. Mizuho boosted their target price 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. Truist Financial boosted their target price 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. Finally, Royal Bank of Canada reissued a “sector perform” rating and set a $92.00 target price on shares of Medtronic in a research report on Wednesday, February 21st. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat.com, the company 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.