Medtronic plc (NYSE:MDT) Shares Sold by Cutler Investment Counsel LLC

Cutler Investment Counsel LLC lessened its stake in Medtronic plc (NYSE:MDT) by 3.7% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 122,342 shares of the medical technology company’s stock after selling 4,690 shares during the quarter. Cutler Investment Counsel LLC’s holdings in Medtronic were worth $9,857,000 as of its most recent filing with the SEC.

A number of other institutional investors have also modified their holdings of MDT. Copley Financial Group Inc. acquired a new stake in Medtronic during the third quarter valued at approximately $694,000. Olstein Capital Management L.P. lifted its position in shares of Medtronic by 19.2% in the 3rd quarter. Olstein Capital Management L.P. now owns 87,000 shares of the medical technology company’s stock worth $7,833,000 after buying an additional 14,000 shares during the last quarter. Franklin Street Advisors Inc. NC boosted its holdings in shares of Medtronic by 32.6% in the 4th quarter. Franklin Street Advisors Inc. NC now owns 73,517 shares of the medical technology company’s stock valued at $5,873,000 after buying an additional 18,057 shares during the period. Y Intercept Hong Kong Ltd grew its position in shares of Medtronic by 322.6% during the 3rd quarter. Y Intercept Hong Kong Ltd now owns 73,593 shares of the medical technology company’s stock valued at $6,626,000 after buying an additional 56,178 shares during the last quarter. Finally, Czech National Bank grew its position in shares of Medtronic by 6.4% during the 4th quarter. Czech National Bank now owns 278,065 shares of the medical technology company’s stock valued at $22,212,000 after buying an additional 16,786 shares during the last quarter. Institutional investors and hedge funds own 82.06% of the company’s stock.

Medtronic Stock Up 0.9 %

MDT stock opened at $93.02 on Monday. The firm has a market cap of $119.28 billion, a PE ratio of 28.45, a P/E/G ratio of 2.57 and a beta of 0.84. Medtronic plc has a 12 month low of $75.96 and a 12 month high of $93.08. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.84 and a quick ratio of 1.39. The firm has a 50 day simple moving average of $85.51 and a 200 day simple moving average of $86.86.

Medtronic (NYSE:MDT) last announced its quarterly earnings data on Tuesday, November 19th. The medical technology company reported $1.26 EPS for the quarter, beating analysts’ consensus estimates of $1.25 by $0.01. The company had revenue of $8.40 billion during the quarter, compared to the consensus estimate of $8.27 billion. Medtronic had a return on equity of 13.79% and a net margin of 13.00%. The company’s quarterly revenue was up 5.2% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.25 EPS. Equities research analysts forecast that Medtronic plc will post 5.45 earnings per share for the current fiscal year.

Medtronic Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, January 10th. Investors of record on Friday, December 27th were given a $0.70 dividend. The ex-dividend date was Friday, December 27th. This represents a $2.80 annualized dividend and a dividend yield of 3.01%. Medtronic’s dividend payout ratio (DPR) is presently 85.63%.

Insider Transactions at Medtronic

In other Medtronic news, EVP Brett A. Wall sold 9,850 shares of Medtronic stock in a transaction on Wednesday, January 8th. The shares were sold at an average price of $80.41, for a total transaction of $792,038.50. Following the completion of the sale, the executive vice president now owns 40,708 shares of the company’s stock, valued at $3,273,330.28. This trade represents a 19.48 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. 0.20% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on MDT. JPMorgan Chase & Co. decreased their target price on Medtronic from $99.00 to $96.00 and set a “neutral” rating for the company in a research note on Friday, November 15th. Sanford C. Bernstein boosted their price objective on Medtronic from $96.00 to $97.00 and gave the company an “outperform” rating in a research report on Wednesday, November 20th. Robert W. Baird lowered their price objective on Medtronic from $96.00 to $93.00 and set a “neutral” rating for the company in a research note on Wednesday, November 20th. Truist Financial cut their target price on Medtronic from $93.00 to $89.00 and set a “hold” rating on the stock in a research note on Wednesday, December 18th. Finally, Wells Fargo & Company lowered their price target on shares of Medtronic from $106.00 to $98.00 and set an “overweight” rating for the company in a research report on Wednesday, November 20th. One analyst has rated the stock with a sell rating, nine have assigned a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $95.00.

About Medtronic

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.