Longfellow Investment Management Co. LLC Trims Stock Position in Medtronic plc (NYSE:MDT)

Longfellow Investment Management Co. LLC reduced its stake in shares of Medtronic plc (NYSE:MDTFree Report) by 10.8% during the 3rd quarter, HoldingsChannel reports. The firm owned 21,253 shares of the medical technology company’s stock after selling 2,586 shares during the quarter. Longfellow Investment Management Co. LLC’s holdings in Medtronic were worth $1,665,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in MDT. Hall Capital Management Co. Inc. boosted its stake in Medtronic by 2.9% in the second quarter. Hall Capital Management Co. Inc. now owns 4,226 shares of the medical technology company’s stock valued at $372,000 after acquiring an additional 120 shares in the last quarter. Bollard Group LLC raised its holdings in shares of Medtronic by 1.8% in the second quarter. Bollard Group LLC now owns 6,955 shares of the medical technology company’s stock valued at $613,000 after buying an additional 121 shares during the last quarter. DT Investment Partners LLC raised its holdings in shares of Medtronic by 1.0% in the second quarter. DT Investment Partners LLC now owns 12,076 shares of the medical technology company’s stock valued at $1,059,000 after buying an additional 124 shares during the last quarter. BOK Financial Private Wealth Inc. raised its holdings in shares of Medtronic by 13.1% in the second quarter. BOK Financial Private Wealth Inc. now owns 1,091 shares of the medical technology company’s stock valued at $97,000 after buying an additional 126 shares during the last quarter. Finally, SRS Capital Advisors Inc. raised its holdings in Medtronic by 19.6% during the second quarter. SRS Capital Advisors Inc. now owns 782 shares of the medical technology company’s stock worth $69,000 after purchasing an additional 128 shares in the last quarter. 80.75% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, EVP Brett A. Wall sold 4,997 shares of the company’s stock in a transaction dated Tuesday, December 19th. The shares were sold at an average price of $82.17, for a total value of $410,603.49. Following the sale, the executive vice president now owns 28,910 shares in the company, valued at approximately $2,375,534.70. 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.

Medtronic Stock Up 0.1 %

MDT stock traded up $0.08 during trading on Monday, reaching $85.07. The stock had a trading volume of 5,867,889 shares, compared to its average volume of 6,002,865. Medtronic plc has a 1-year low of $68.84 and a 1-year high of $92.02. The company has a current ratio of 2.29, a quick ratio of 1.69 and a debt-to-equity ratio of 0.46. The company has a market capitalization of $113.11 billion, a P/E ratio of 27.71, a PEG ratio of 2.97 and a beta of 0.78. The firm has a fifty day moving average price of $84.21 and a 200 day moving average price of $80.38.

Medtronic (NYSE:MDTGet Free Report) last issued its quarterly earnings data on Tuesday, November 21st. The medical technology company reported $1.25 EPS for the quarter, topping analysts’ consensus estimates of $1.18 by $0.07. Medtronic had a net margin of 12.83% and a return on equity of 13.73%. The firm had revenue of $7.98 billion for the quarter, compared to analyst estimates of $7.93 billion. During the same quarter in the previous year, the business posted $1.30 EPS. The firm’s revenue was up 5.3% compared to the same quarter last year. On average, equities analysts anticipate that Medtronic plc will post 5.16 earnings per share for the current year.

Medtronic Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, January 12th. Stockholders of record on Wednesday, December 20th were paid a $0.69 dividend. The ex-dividend date of this dividend was Tuesday, December 19th. This represents a $2.76 dividend on an annualized basis and a dividend yield of 3.24%. Medtronic’s dividend payout ratio (DPR) is presently 89.90%.

Wall Street Analysts Forecast Growth

MDT has been the subject of several analyst reports. Truist Financial increased their price target on shares of Medtronic from $84.00 to $87.00 and gave the stock a “hold” rating in a report on Friday, December 22nd. Morgan Stanley dropped their target price on shares of Medtronic from $104.00 to $98.00 and set an “overweight” rating for the company in a report on Wednesday, November 22nd. Finally, Royal Bank of Canada increased their price target on shares of Medtronic from $82.00 to $92.00 and gave the company a “sector perform” rating in a research report on Friday, January 12th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $93.92.

Check Out Our Latest Stock Report on Medtronic

Medtronic Profile

(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.

Featured Stories

Want to see what other hedge funds are holding MDT? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Medtronic plc (NYSE:MDTFree Report).

Institutional Ownership by Quarter for Medtronic (NYSE:MDT)

Receive News & Ratings for Medtronic Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Medtronic and related companies with MarketBeat.com's FREE daily email newsletter.