WealthPlan Investment Management LLC Sells 28,792 Shares of Medtronic plc (NYSE:MDT)

WealthPlan Investment Management LLC lessened its holdings in Medtronic plc (NYSE:MDTFree Report) by 91.8% during the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 2,579 shares of the medical technology company’s stock after selling 28,792 shares during the period. WealthPlan Investment Management LLC’s holdings in Medtronic were worth $202,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. State Street Corp boosted its position in Medtronic by 0.3% in the 2nd quarter. State Street Corp now owns 60,146,861 shares of the medical technology company’s stock worth $5,339,879,000 after purchasing an additional 175,765 shares in the last quarter. Capital Research Global Investors boosted its position in Medtronic by 4.9% in the 2nd quarter. Capital Research Global Investors now owns 31,493,771 shares of the medical technology company’s stock worth $2,774,598,000 after purchasing an additional 1,475,241 shares in the last quarter. Bank of New York Mellon Corp boosted its position in Medtronic by 2.6% in the 3rd quarter. Bank of New York Mellon Corp now owns 20,392,467 shares of the medical technology company’s stock worth $1,597,954,000 after purchasing an additional 508,205 shares in the last quarter. Moneta Group Investment Advisors LLC boosted its position in Medtronic by 127,655.1% in the 4th quarter. Moneta Group Investment Advisors LLC now owns 14,160,371 shares of the medical technology company’s stock worth $1,100,544,000 after purchasing an additional 14,149,287 shares in the last quarter. Finally, Norges Bank purchased a new stake in Medtronic in the 4th quarter worth approximately $1,062,316,000. Institutional investors and hedge funds own 80.75% of the company’s stock.

Insiders Place Their Bets

In other Medtronic news, EVP Brett A. Wall sold 4,997 shares of the firm’s stock in a transaction on Tuesday, December 19th. The stock was sold at an average price of $82.17, for a total value of $410,603.49. Following the completion of the sale, the executive vice president now directly owns 28,910 shares of the company’s stock, valued at approximately $2,375,534.70. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 0.30% of the company’s stock.

Wall Street Analyst Weigh In

MDT has been the topic of a number of recent analyst reports. Truist Financial increased their target price on Medtronic from $84.00 to $87.00 and gave the company a “hold” rating in a research report on Friday, December 22nd. Morgan Stanley decreased their target price on Medtronic from $104.00 to $98.00 and set an “overweight” rating on the stock in a research report on Wednesday, November 22nd. Finally, Royal Bank of Canada increased their target price on Medtronic from $82.00 to $92.00 and gave the company a “sector perform” rating in a research report on Friday, January 12th. One analyst has rated the stock with a sell rating, four have issued a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $93.92.

Get Our Latest Research Report on Medtronic

Medtronic Trading Up 0.1 %

Shares of MDT stock opened at $85.07 on Tuesday. The stock’s fifty day moving average is $84.32 and its two-hundred day moving average is $80.35. The company has a debt-to-equity ratio of 0.46, a quick ratio of 1.69 and a current ratio of 2.29. The firm has a market capitalization of $113.11 billion, a P/E ratio of 27.71, a PEG ratio of 2.97 and a beta of 0.78. Medtronic plc has a fifty-two week low of $68.84 and a fifty-two week high of $92.02.

Medtronic (NYSE:MDTGet Free Report) last announced its quarterly earnings data on Tuesday, November 21st. The medical technology company reported $1.25 earnings per share for the quarter, beating analysts’ consensus estimates of $1.18 by $0.07. The company had revenue of $7.98 billion for the quarter, compared to analyst estimates of $7.93 billion. Medtronic had a return on equity of 13.73% and a net margin of 12.83%. The firm’s revenue for the quarter was up 5.3% on a year-over-year basis. During the same quarter last year, the firm posted $1.30 EPS. Research analysts expect that Medtronic plc will post 5.16 earnings per share for the current fiscal year.

Medtronic Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, January 12th. Shareholders of record on Wednesday, December 20th were paid a $0.69 dividend. This represents a $2.76 dividend on an annualized basis and a dividend yield of 3.24%. The ex-dividend date of this dividend was Tuesday, December 19th. Medtronic’s dividend payout ratio (DPR) is presently 89.90%.

Medtronic Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Medtronic (NYSE:MDT)

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