Medtronic plc (NYSE:MDT) is Clark Estates Inc. NY’s 4th Largest Position

Clark Estates Inc. NY lessened its holdings in Medtronic plc (NYSE:MDT) by 9.1% during the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 250,000 shares of the medical technology company’s stock after selling 25,000 shares during the period. Medtronic accounts for approximately 3.9% of Clark Estates Inc. NY’s portfolio, making the stock its 4th largest holding. Clark Estates Inc. NY’s holdings in Medtronic were worth $19,970,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of the business. Guardian Wealth Management Inc. grew its stake in Medtronic by 0.9% in the 3rd quarter. Guardian Wealth Management Inc. now owns 13,131 shares of the medical technology company’s stock worth $1,182,000 after buying an additional 115 shares in the last quarter. MONECO Advisors LLC boosted its holdings in shares of Medtronic by 1.8% in the 4th quarter. MONECO Advisors LLC now owns 6,408 shares of the medical technology company’s stock worth $512,000 after purchasing an additional 115 shares in the last quarter. First City Capital Management Inc. increased its position in shares of Medtronic by 2.9% during the 3rd quarter. First City Capital Management Inc. now owns 4,123 shares of the medical technology company’s stock valued at $371,000 after purchasing an additional 116 shares during the last quarter. Hardy Reed LLC lifted its position in Medtronic by 4.4% in the 3rd quarter. Hardy Reed LLC now owns 2,743 shares of the medical technology company’s stock worth $247,000 after buying an additional 116 shares during the last quarter. Finally, OLD Second National Bank of Aurora boosted its stake in Medtronic by 0.3% in the fourth quarter. OLD Second National Bank of Aurora now owns 36,303 shares of the medical technology company’s stock worth $2,900,000 after buying an additional 121 shares in the last quarter. Hedge funds and other institutional investors own 82.06% of the company’s stock.

Medtronic Stock Down 1.3 %

Shares of Medtronic stock opened at $93.09 on Wednesday. The company has a current ratio of 1.90, a quick ratio of 1.39 and a debt-to-equity ratio of 0.48. Medtronic plc has a 12-month low of $75.96 and a 12-month high of $95.57. The company has a market cap of $119.40 billion, a P/E ratio of 28.30, a PEG ratio of 2.22 and a beta of 0.84. The company’s fifty day simple moving average is $87.57 and its two-hundred day simple moving average is $87.63.

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

Medtronic Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, January 10th. Stockholders of record on Friday, December 27th were paid a $0.70 dividend. This represents a $2.80 dividend on an annualized basis and a dividend yield of 3.01%. The ex-dividend date was Friday, December 27th. Medtronic’s payout ratio is presently 85.11%.

Analyst Ratings Changes

MDT has been the topic of several recent research reports. Truist Financial reduced their target price on shares of Medtronic from $93.00 to $89.00 and set a “hold” rating on the stock in a report on Wednesday, December 18th. JPMorgan Chase & Co. reduced their price objective on Medtronic from $99.00 to $96.00 and set a “neutral” rating on the stock in a research note on Friday, November 15th. Wells Fargo & Company lowered their target price on Medtronic from $106.00 to $98.00 and set an “overweight” rating for the company in a research note on Wednesday, November 20th. Citigroup upgraded Medtronic from a “neutral” rating to a “buy” rating and raised their price target for the stock from $92.00 to $107.00 in a research report on Tuesday. Finally, UBS Group lifted their price target on Medtronic from $85.00 to $95.00 and gave the stock a “neutral” rating in a research note on Wednesday, February 19th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company presently has an average rating of “Hold” and an average target price of $96.07.

Insider Activity at Medtronic

In other Medtronic news, EVP Brett A. Wall sold 12,437 shares of the stock in a transaction on Friday, January 24th. The stock was sold at an average price of $90.00, for a total value of $1,119,330.00. Following the completion of the transaction, the executive vice president now owns 40,979 shares in the company, valued at approximately $3,688,110. This represents a 23.28 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.20% of the stock is currently owned by corporate insiders.

Medtronic Company 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.