Trinity Legacy Partners LLC Sells 13,154 Shares of Medtronic plc (NYSE:MDT)

Trinity Legacy Partners LLC lessened its position in shares of Medtronic plc (NYSE:MDT) by 23.5% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 42,738 shares of the medical technology company’s stock after selling 13,154 shares during the quarter. Trinity Legacy Partners LLC’s holdings in Medtronic were worth $3,414,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of MDT. Signaturefd LLC boosted its position in shares of Medtronic by 4.3% in the 3rd quarter. Signaturefd LLC now owns 13,332 shares of the medical technology company’s stock worth $1,200,000 after purchasing an additional 551 shares in the last quarter. Commerzbank Aktiengesellschaft FI raised its stake in Medtronic by 120.6% in the third quarter. Commerzbank Aktiengesellschaft FI now owns 11,049 shares of the medical technology company’s stock valued at $995,000 after buying an additional 6,041 shares during the last quarter. Wallington Asset Management LLC boosted its holdings in Medtronic by 5.3% in the third quarter. Wallington Asset Management LLC now owns 193,129 shares of the medical technology company’s stock worth $17,387,000 after acquiring an additional 9,694 shares in the last quarter. Axecap Investments LLC acquired a new stake in Medtronic in the third quarter worth about $470,000. Finally, International Assets Investment Management LLC grew its stake in shares of Medtronic by 8,908.6% during the third quarter. International Assets Investment Management LLC now owns 1,298,415 shares of the medical technology company’s stock worth $116,896,000 after acquiring an additional 1,284,002 shares during the last quarter. Institutional investors own 82.06% of the company’s stock.

Medtronic Stock Performance

MDT opened at $88.14 on Friday. The firm has a fifty day moving average price of $85.93 and a 200 day moving average price of $87.03. Medtronic plc has a 1 year low of $75.96 and a 1 year high of $93.08. The stock has a market cap of $113.02 billion, a P/E ratio of 26.79, a P/E/G ratio of 2.46 and a beta of 0.84. The company has a debt-to-equity ratio of 0.48, a current ratio of 1.90 and a quick ratio of 1.39.

Medtronic (NYSE:MDT) last issued its quarterly earnings data on Tuesday, February 18th. The medical technology company reported $1.39 earnings per share for the quarter, topping analysts’ consensus estimates of $1.36 by $0.03. Medtronic had a net margin of 12.83% and a return on equity of 14.07%. The business had revenue of $8.29 billion during the quarter, compared to the consensus estimate of $8.33 billion. Equities research analysts anticipate that Medtronic plc will post 5.46 earnings per share for the current year.

Medtronic Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, January 10th. Shareholders of record on Friday, December 27th were issued a $0.70 dividend. This represents a $2.80 annualized dividend and a yield of 3.18%. The ex-dividend date was Friday, December 27th. Medtronic’s payout ratio is currently 85.11%.

Analyst Ratings Changes

Several brokerages recently commented on MDT. Barclays increased their price objective on shares of Medtronic from $105.00 to $109.00 and gave the company an “overweight” rating in a research report on Tuesday, November 26th. Truist Financial lowered their price objective on shares of Medtronic from $93.00 to $89.00 and set a “hold” rating for the company in a research note on Wednesday, December 18th. JPMorgan Chase & Co. cut their target price on Medtronic from $99.00 to $96.00 and set a “neutral” rating on the stock in a research report on Friday, November 15th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $105.00 price target on shares of Medtronic in a research report on Wednesday. Finally, Robert W. Baird increased their price objective on Medtronic from $90.00 to $91.00 and gave the company a “neutral” rating in a report on Wednesday. One research analyst has rated the stock with a sell rating, nine have issued a hold rating, six have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, Medtronic presently has a consensus rating of “Hold” and an average target price of $95.20.

Insider Activity

In other news, EVP Brett A. Wall sold 12,437 shares of the stock in a transaction that occurred on Friday, January 24th. The stock was sold at an average price of $90.00, for a total transaction of $1,119,330.00. Following the transaction, the executive vice president now owns 40,979 shares in the company, valued at $3,688,110. This trade represents a 23.28 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Company insiders own 0.20% of the company’s stock.

Medtronic 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.