Farmers & Merchants Investments Inc. Decreases Stake in Medtronic plc (NYSE:MDT)

Farmers & Merchants Investments Inc. lessened its position in shares of Medtronic plc (NYSE:MDTFree Report) by 0.5% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 143,865 shares of the medical technology company’s stock after selling 781 shares during the quarter. Farmers & Merchants Investments Inc.’s holdings in Medtronic were worth $11,852,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in MDT. Hartford Financial Management Inc. raised its stake in shares of Medtronic by 425.0% during the 3rd quarter. Hartford Financial Management Inc. now owns 315 shares of the medical technology company’s stock worth $25,000 after buying an additional 255 shares during the last quarter. Fortitude Family Office LLC acquired a new position in shares of Medtronic during the 4th quarter worth $25,000. Leith Wheeler Investment Counsel Ltd. raised its stake in shares of Medtronic by 293.0% during the 4th quarter. Leith Wheeler Investment Counsel Ltd. now owns 316,643 shares of the medical technology company’s stock worth $26,000 after buying an additional 236,064 shares during the last quarter. Financial Gravity Asset Management Inc. raised its stake in shares of Medtronic by 317.0% during the 3rd quarter. Financial Gravity Asset Management Inc. now owns 367 shares of the medical technology company’s stock worth $29,000 after buying an additional 279 shares during the last quarter. Finally, Princeton Global Asset Management LLC acquired a new position in shares of Medtronic during the 3rd quarter worth $31,000. Institutional investors and hedge funds own 82.06% of the company’s stock.

Medtronic Trading Down 0.2 %

NYSE MDT opened at $85.00 on Thursday. Medtronic plc has a 12 month low of $68.84 and a 12 month high of $92.02. The company has a 50-day moving average of $85.25 and a 200-day moving average of $80.90. 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 company has a market cap of $112.86 billion, a P/E ratio of 27.07, a P/E/G ratio of 2.91 and a beta of 0.76.

Medtronic (NYSE:MDTGet Free Report) last posted its quarterly earnings data on Tuesday, February 20th. The medical technology company reported $1.30 EPS for the quarter, beating analysts’ consensus estimates 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 the consensus estimate of $7.95 billion. During the same quarter in the prior year, the company posted $1.30 EPS. The company’s quarterly revenue was up 4.7% compared to the same quarter last year. As a group, equities analysts predict that Medtronic plc will post 5.2 earnings per share for the current year.

Medtronic Announces Dividend

The company also recently announced 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. This represents a $2.76 dividend on an annualized basis and a dividend yield of 3.25%. The ex-dividend date of this dividend is Thursday, March 21st. Medtronic’s payout ratio is currently 87.90%.

Insider Transactions at Medtronic

In other news, EVP Sean Salmon sold 30,695 shares of the business’s stock in a transaction dated 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 Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 0.30% of the company’s stock.

Analyst Ratings Changes

Several research analysts have recently issued reports on the company. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $92.00 price target on shares of Medtronic in a research note on Wednesday, February 21st. Truist Financial boosted 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 boosted 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, Mizuho boosted 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. One investment 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. According to data from MarketBeat.com, Medtronic presently has an average rating of “Moderate Buy” and a consensus price target of $94.91.

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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.

See Also

Institutional Ownership by Quarter for Medtronic (NYSE:MDT)

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