Ferguson Wellman Capital Management Inc. Sells 1,106 Shares of Medtronic plc (NYSE:MDT)

Ferguson Wellman Capital Management Inc. decreased its holdings in shares of Medtronic plc (NYSE:MDTFree Report) by 26.1% during the fourth quarter, HoldingsChannel reports. The institutional investor owned 3,126 shares of the medical technology company’s stock after selling 1,106 shares during the period. Ferguson Wellman Capital Management Inc.’s holdings in Medtronic were worth $258,000 at the end of the most recent quarter.

Other hedge funds have also recently modified their holdings of the company. Hartford Financial Management Inc. grew its stake in shares of Medtronic by 425.0% during the third quarter. Hartford Financial Management Inc. now owns 315 shares of the medical technology company’s stock valued at $25,000 after buying an additional 255 shares during the last quarter. Leith Wheeler Investment Counsel Ltd. grew its stake in shares of Medtronic by 293.0% during the fourth quarter. Leith Wheeler Investment Counsel Ltd. now owns 316,643 shares of the medical technology company’s stock valued at $26,000 after buying an additional 236,064 shares during the last quarter. Missouri Trust & Investment Co grew its stake in shares of Medtronic by 209.0% during the second quarter. Missouri Trust & Investment Co now owns 309 shares of the medical technology company’s stock valued at $27,000 after buying an additional 209 shares during the last quarter. Financial Gravity Asset Management Inc. boosted its holdings in shares of 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. Finally, Princeton Global Asset Management LLC purchased a new stake in shares of Medtronic in the third quarter valued at approximately $31,000. Institutional investors own 80.75% of the company’s stock.

Medtronic Stock Down 0.8 %

Medtronic stock opened at $83.39 on Friday. The business has a fifty day moving average of $85.51 and a two-hundred day moving average of $80.61. The company has a quick ratio of 1.71, a current ratio of 2.30 and a debt-to-equity ratio of 0.46. The firm has a market cap of $110.73 billion, a P/E ratio of 26.56, a P/E/G ratio of 2.88 and a beta of 0.76. Medtronic plc has a twelve month low of $68.84 and a twelve month high of $92.02.

Medtronic (NYSE:MDTGet Free Report) last issued its quarterly earnings data 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 return on equity of 13.71% and a net margin of 13.00%. The firm had revenue of $8.09 billion during the quarter, compared to analyst estimates of $7.95 billion. During the same quarter in the prior year, the business posted $1.30 EPS. The business’s revenue for the quarter 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 fiscal year.

Medtronic Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, April 12th. Stockholders of record on Friday, March 22nd will be issued a dividend of $0.69 per share. The ex-dividend date of this dividend is Thursday, March 21st. This represents a $2.76 annualized dividend and a dividend yield of 3.31%. Medtronic’s dividend payout ratio is presently 87.90%.

Insider Activity

In other news, EVP Sean Salmon sold 30,695 shares of the stock in a transaction 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 approximately $4,110,842.57. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Company insiders own 0.30% of the company’s stock.

Wall Street Analysts Forecast Growth

MDT has been the subject of a number of research reports. Royal Bank of Canada reiterated a “sector perform” rating and issued a $92.00 price target on shares of Medtronic in a report on Wednesday, February 21st. Oppenheimer boosted their price target on Medtronic from $89.00 to $92.00 and gave the company a “market perform” rating in a report on Wednesday, February 21st. Mizuho boosted their price target on Medtronic from $95.00 to $98.00 and gave the company a “buy” rating in a report on Wednesday, February 21st. Finally, Truist Financial boosted their price target on Medtronic from $87.00 to $90.00 and gave the company a “hold” rating in a report on Wednesday, February 21st. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and seven have issued a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $94.91.

Read Our Latest Stock Analysis on Medtronic

About Medtronic

(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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