Wrapmanager Inc. Decreases Stake in Medtronic plc (NYSE:MDT)

Wrapmanager Inc. decreased its holdings in shares of Medtronic plc (NYSE:MDT) by 7.1% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 3,750 shares of the medical technology company’s stock after selling 288 shares during the quarter. Wrapmanager Inc.’s holdings in Medtronic were worth $309,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. Marino Stram & Associates LLC boosted its position in Medtronic by 1.8% during the fourth quarter. Marino Stram & Associates LLC now owns 7,127 shares of the medical technology company’s stock worth $587,000 after purchasing an additional 126 shares during the period. Rogco LP grew its position in shares of Medtronic by 1.9% in the fourth quarter. Rogco LP now owns 6,814 shares of the medical technology company’s stock valued at $561,000 after purchasing an additional 129 shares during the last quarter. Modera Wealth Management LLC lifted its position in shares of Medtronic by 3.9% during the 3rd quarter. Modera Wealth Management LLC now owns 3,537 shares of the medical technology company’s stock worth $277,000 after purchasing an additional 133 shares during the last quarter. jvl associates llc grew its holdings in Medtronic by 3.8% in the 4th quarter. jvl associates llc now owns 3,840 shares of the medical technology company’s stock valued at $316,000 after buying an additional 139 shares during the last quarter. Finally, Dfpg Investments LLC boosted its position in shares of Medtronic by 0.3% in the fourth quarter. Dfpg Investments LLC now owns 53,045 shares of the medical technology company’s stock valued at $4,413,000 after acquiring an additional 142 shares during the period. 82.06% of the stock is currently owned by institutional investors and hedge funds.

Medtronic Trading Up 1.5 %

NYSE:MDT traded up $1.21 during trading hours on Thursday, hitting $82.76. 5,545,134 shares of the stock were exchanged, compared to its average volume of 6,155,512. The company has a market capitalization of $109.89 billion, a P/E ratio of 26.36, a price-to-earnings-growth ratio of 2.66 and a beta of 0.78. The company has a quick ratio of 1.71, a current ratio of 2.30 and a debt-to-equity ratio of 0.46. The company’s 50 day moving average is $82.97 and its two-hundred day moving average is $81.69. Medtronic plc has a twelve month low of $68.84 and a twelve month high of $91.00.

Medtronic (NYSE:MDT) last announced its quarterly earnings data on Tuesday, February 20th. The medical technology company reported $1.30 EPS for the quarter, topping analysts’ consensus estimates of $1.26 by $0.04. Medtronic had a return on equity of 13.71% and a net margin of 13.00%. The firm had revenue of $8.09 billion during the quarter, compared to analyst estimates of $7.95 billion. During the same period last year, the company earned $1.30 earnings per share. The company’s revenue was up 4.7% on a year-over-year basis. On average, sell-side analysts anticipate that Medtronic plc will post 5.2 earnings per share for the current fiscal year.

Medtronic Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, April 12th. Shareholders of record on Friday, March 22nd were paid a $0.69 dividend. The ex-dividend date was Thursday, March 21st. This represents a $2.76 dividend on an annualized basis and a yield of 3.33%. Medtronic’s payout ratio is presently 87.90%.

Insiders Place Their Bets

In other Medtronic news, EVP Michael Marinaro sold 854 shares of the firm’s stock in a transaction dated Monday, April 8th. The stock was sold at an average price of $83.14, for a total transaction of $71,001.56. Following the transaction, the executive vice president now owns 27,925 shares in the company, valued at $2,321,684.50. The sale was disclosed in a document filed with the SEC, which is available through this link. In other Medtronic news, EVP Sean Salmon sold 30,695 shares of Medtronic 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 transaction, the executive vice president now directly owns 48,289 shares in the company, valued at $4,110,842.57. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, EVP Michael Marinaro sold 854 shares of the firm’s stock in a transaction dated Monday, April 8th. The stock was sold at an average price of $83.14, for a total value of $71,001.56. Following the sale, the executive vice president now directly owns 27,925 shares in the company, valued at approximately $2,321,684.50. The disclosure for this sale can be found here. Company insiders own 0.30% of the company’s stock.

Analyst Ratings Changes

MDT has been the topic of several research reports. Oppenheimer boosted their price objective on shares of Medtronic from $89.00 to $92.00 and gave the stock a “market perform” rating in a report on Wednesday, February 21st. Royal Bank of Canada reiterated a “sector perform” rating and issued a $92.00 price objective on shares of Medtronic in a research report on Wednesday, February 21st. Mizuho boosted their price objective on Medtronic from $95.00 to $98.00 and gave the company a “buy” rating in a research report on Wednesday, February 21st. Finally, Truist Financial raised their target price on Medtronic from $87.00 to $90.00 and gave the stock a “hold” rating in a research report on Wednesday, February 21st. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $94.91.

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.