Medtronic plc (NYSE:MDT) Shares Sold by New England Capital Financial Advisors LLC

New England Capital Financial Advisors LLC trimmed its holdings in Medtronic plc (NYSE:MDT) by 11.3% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 1,298 shares of the medical technology company’s stock after selling 166 shares during the period. New England Capital Financial Advisors LLC’s holdings in Medtronic were worth $107,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also recently added to or reduced their stakes in MDT. Morgan Stanley boosted its stake in shares of Medtronic by 9.2% during the 3rd quarter. Morgan Stanley now owns 23,777,808 shares of the medical technology company’s stock worth $1,863,229,000 after purchasing an additional 1,994,123 shares during the last quarter. Bank of New York Mellon Corp boosted its stake in shares of Medtronic by 2.6% during the 3rd quarter. Bank of New York Mellon Corp now owns 20,392,467 shares of the medical technology company’s stock worth $1,597,954,000 after purchasing an additional 508,205 shares during the last quarter. Northern Trust Corp boosted its position in shares of Medtronic by 2.1% in the third quarter. Northern Trust Corp now owns 13,622,933 shares of the medical technology company’s stock worth $1,067,493,000 after acquiring an additional 285,819 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its position in shares of Medtronic by 0.7% in the third quarter. Charles Schwab Investment Management Inc. now owns 10,988,289 shares of the medical technology company’s stock worth $843,979,000 after acquiring an additional 79,660 shares during the last quarter. Finally, American Century Companies Inc. boosted its position in shares of Medtronic by 6.7% in the third quarter. American Century Companies Inc. now owns 10,297,135 shares of the medical technology company’s stock worth $806,883,000 after acquiring an additional 649,367 shares during the last quarter. 82.06% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Medtronic news, EVP Michael Marinaro sold 854 shares of Medtronic stock in a transaction on Monday, April 8th. The shares were sold at an average price of $83.14, for a total value of $71,001.56. Following the completion of the transaction, the executive vice president now owns 27,925 shares of the company’s stock, valued at $2,321,684.50. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In other news, EVP Sean Salmon sold 30,695 shares of the business’s stock in a transaction on Wednesday, February 21st. The shares were sold at an average price of $85.13, for a total transaction of $2,613,065.35. Following the completion of the transaction, the executive vice president now owns 48,289 shares of the company’s stock, valued at $4,110,842.57. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, EVP Michael Marinaro sold 854 shares of the business’s stock in a transaction on Monday, April 8th. The shares were sold at an average price of $83.14, for a total transaction of $71,001.56. Following the transaction, the executive vice president now directly owns 27,925 shares of the company’s stock, valued at approximately $2,321,684.50. The disclosure for this sale can be found here. Insiders own 0.30% of the company’s stock.

Analyst Ratings Changes

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

Medtronic Stock Up 0.9 %

Shares of MDT traded up $0.71 during mid-day trading on Tuesday, reaching $81.28. 5,296,122 shares of the stock traded hands, compared to its average volume of 6,290,356. The firm has a market cap of $107.93 billion, a price-to-earnings ratio of 25.89, a P/E/G ratio of 2.72 and a beta of 0.76. The stock has a fifty day simple moving average of $83.80 and a 200 day simple moving average of $81.14. Medtronic plc has a 12-month low of $68.84 and a 12-month high of $92.02. The company has a quick ratio of 1.71, a current ratio of 2.30 and a debt-to-equity ratio of 0.46.

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

Medtronic Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, April 12th. Investors 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 dividend yield of 3.40%. Medtronic’s dividend payout ratio (DPR) is presently 87.90%.

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.