Glen Eagle Advisors LLC Sells 358 Shares of Medtronic plc (NYSE:MDT)

Glen Eagle Advisors LLC lessened its holdings in Medtronic plc (NYSE:MDT) by 4.5% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 7,676 shares of the medical technology company’s stock after selling 358 shares during the quarter. Glen Eagle Advisors LLC’s holdings in Medtronic were worth $613,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of MDT. Mainstream Capital Management LLC acquired a new position in Medtronic in the fourth quarter valued at about $26,000. Stephens Consulting LLC raised its stake in Medtronic by 145.7% in the fourth quarter. Stephens Consulting LLC now owns 344 shares of the medical technology company’s stock valued at $27,000 after purchasing an additional 204 shares in the last quarter. Rakuten Securities Inc. raised its stake in Medtronic by 753.8% during the fourth quarter. Rakuten Securities Inc. now owns 333 shares of the medical technology company’s stock worth $27,000 after acquiring an additional 294 shares in the last quarter. Optiver Holding B.V. acquired a new position in Medtronic during the fourth quarter worth about $31,000. Finally, Chapman Financial Group LLC acquired a new position in shares of Medtronic in the fourth quarter valued at approximately $33,000. Institutional investors own 82.06% of the company’s stock.

Medtronic Stock Down 0.9%

Shares of MDT opened at $86.19 on Wednesday. The firm has a market cap of $110.54 billion, a P/E ratio of 26.20, a P/E/G ratio of 2.22 and a beta of 0.81. The stock has a 50 day simple moving average of $85.71 and a two-hundred day simple moving average of $86.57. 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 plc has a 1 year low of $75.96 and a 1 year high of $96.25.

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

Medtronic Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, April 11th. Investors of record on Friday, March 28th were issued a dividend of $0.70 per share. The ex-dividend date of this dividend was Friday, March 28th. This represents a $2.80 dividend on an annualized basis and a dividend yield of 3.25%. Medtronic’s dividend payout ratio is presently 85.11%.

Analysts Set New Price Targets

A number of research firms have weighed in on MDT. Royal Bank of Canada reissued an “outperform” rating and set a $105.00 target price on shares of Medtronic in a research report on Wednesday, February 19th. UBS Group increased their price target on Medtronic from $85.00 to $95.00 and gave the company a “neutral” rating in a research report on Wednesday, February 19th. Needham & Company LLC reiterated a “hold” rating on shares of Medtronic in a research note on Monday. Citigroup upgraded Medtronic from a “neutral” rating to a “buy” rating and boosted their price objective for the company from $92.00 to $107.00 in a research note on Tuesday, March 4th. Finally, Truist Financial lowered their price objective on Medtronic from $93.00 to $90.00 and set a “hold” rating on the stock in a research note on Friday, April 11th. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating, six have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $96.14.

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.