Motley Fool Wealth Management LLC Sells 9,484 Shares of Medtronic plc (NYSE:MDT)

Motley Fool Wealth Management LLC lessened its holdings in shares of Medtronic plc (NYSE:MDT) by 11.0% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 76,813 shares of the medical technology company’s stock after selling 9,484 shares during the period. Motley Fool Wealth Management LLC’s holdings in Medtronic were worth $6,204,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. Penobscot Investment Management Company Inc. acquired a new stake in Medtronic during the fourth quarter worth approximately $279,000. Morey & Quinn Wealth Partners LLC bought a new stake in shares of Medtronic during the 4th quarter valued at $229,000. Ipsen Advisor Group LLC acquired a new stake in shares of Medtronic during the 4th quarter worth $459,000. Murphy & Mullick Capital Management Corp bought a new position in shares of Medtronic in the fourth quarter worth $65,000. Finally, Mitsubishi UFJ Trust & Banking Corp raised its stake in Medtronic by 2.0% in the fourth quarter. Mitsubishi UFJ Trust & Banking Corp now owns 647,334 shares of the medical technology company’s stock valued at $51,709,000 after purchasing an additional 12,727 shares in the last quarter. 82.06% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

MDT has been the topic of several recent analyst reports. Needham & Company LLC reissued a “hold” rating on shares of Medtronic in a report on Wednesday, February 19th. Royal Bank of Canada restated an “outperform” rating and set a $105.00 price objective on shares of Medtronic in a research report on Wednesday, February 19th. Barclays upped their target price on Medtronic from $105.00 to $109.00 and gave the stock an “overweight” rating in a research note on Tuesday, November 26th. Citigroup raised Medtronic from a “neutral” rating to a “buy” rating and boosted their price target for the stock from $92.00 to $107.00 in a report on Tuesday, March 4th. Finally, Truist Financial reduced their price objective on Medtronic from $93.00 to $89.00 and set a “hold” rating on the stock in a research note on Wednesday, December 18th. One research analyst has rated the stock with a sell rating, eight have issued a hold rating, six have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, Medtronic currently has a consensus rating of “Hold” and a consensus price target of $96.07.

Insider Buying and Selling

In other Medtronic news, EVP Brett A. Wall sold 9,850 shares of Medtronic stock in a transaction that occurred on Wednesday, January 8th. The stock was sold at an average price of $80.41, for a total value of $792,038.50. Following the completion of the sale, the executive vice president now directly owns 40,708 shares in the company, valued at approximately $3,273,330.28. The trade was a 19.48 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.20% of the stock is owned by insiders.

Medtronic Stock Performance

NYSE MDT opened at $88.50 on Wednesday. The company has a market capitalization of $113.51 billion, a price-to-earnings ratio of 26.90, a PEG ratio of 2.22 and a beta of 0.80. The company has a quick ratio of 1.39, a current ratio of 1.90 and a debt-to-equity ratio of 0.48. Medtronic plc has a twelve month low of $75.96 and a twelve month high of $96.25. The stock has a fifty day simple moving average of $90.90 and a 200 day simple moving average of $88.04.

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

Medtronic Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, April 11th. Stockholders of record on Friday, March 28th will be given a dividend of $0.70 per share. This represents a $2.80 annualized dividend and a dividend yield of 3.16%. The ex-dividend date is Friday, March 28th. Medtronic’s dividend payout ratio (DPR) is presently 85.11%.

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.