FourThought Financial Partners LLC Decreases Stake in Medtronic plc (NYSE:MDT)

FourThought Financial Partners LLC trimmed its holdings in shares of Medtronic plc (NYSE:MDT) by 2.3% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 139,161 shares of the medical technology company’s stock after selling 3,246 shares during the quarter. Medtronic accounts for about 1.4% of FourThought Financial Partners LLC’s investment portfolio, making the stock its 18th biggest position. FourThought Financial Partners LLC’s holdings in Medtronic were worth $11,464,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of MDT. Marino Stram & Associates LLC boosted its stake in shares of Medtronic by 1.8% during the 4th quarter. Marino Stram & Associates LLC now owns 7,127 shares of the medical technology company’s stock valued at $587,000 after buying an additional 126 shares during the last quarter. Rogco LP grew its holdings in Medtronic by 1.9% during the 4th quarter. Rogco LP now owns 6,814 shares of the medical technology company’s stock worth $561,000 after acquiring an additional 129 shares in the last quarter. Modera Wealth Management LLC increased its position in shares of Medtronic by 3.9% in 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 raised its stake in shares of 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 purchasing an additional 139 shares in the last quarter. Finally, Dfpg Investments LLC lifted its position in shares of Medtronic by 0.3% during the fourth quarter. Dfpg Investments LLC now owns 53,045 shares of the medical technology company’s stock worth $4,413,000 after purchasing an additional 142 shares during the last quarter. Institutional investors and hedge funds own 82.06% of the company’s stock.

Insider Activity

In other Medtronic news, EVP Sean Salmon sold 30,695 shares of the firm’s stock in a transaction dated 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 transaction, the executive vice president now owns 48,289 shares of the company’s stock, valued at approximately $4,110,842.57. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In other Medtronic news, EVP Sean Salmon sold 30,695 shares of the company’s stock in a transaction that occurred on Wednesday, February 21st. The stock was sold at an average price of $85.13, for a total value of $2,613,065.35. Following the completion of the sale, 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 legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, 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 transaction, the executive vice president now owns 27,925 shares in the company, valued at $2,321,684.50. The disclosure for this sale can be found here. Corporate insiders own 0.30% of the company’s stock.

Medtronic Stock Performance

MDT stock traded up $0.77 during mid-day trading on Friday, reaching $81.69. The company had a trading volume of 4,987,236 shares, compared to its average volume of 6,078,836. Medtronic plc has a one year low of $68.84 and a one year high of $91.00. 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 stock has a market capitalization of $108.47 billion, a P/E ratio of 26.02, a P/E/G ratio of 2.64 and a beta of 0.78. The stock’s 50-day simple moving average is $83.08 and its two-hundred day simple moving average is $81.44.

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

Medtronic Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, April 12th. Stockholders of record on Friday, March 22nd were paid a $0.69 dividend. The ex-dividend date of this dividend was Thursday, March 21st. This represents a $2.76 annualized dividend and a dividend yield of 3.38%. Medtronic’s payout ratio is 87.90%.

Analyst Ratings Changes

Several analysts recently weighed in on MDT shares. Truist Financial boosted their price objective on Medtronic from $87.00 to $90.00 and gave the company a “hold” rating in a report on Wednesday, February 21st. Royal Bank of Canada reissued a “sector perform” rating and set a $92.00 price target on shares of Medtronic in a research report on Wednesday, February 21st. Mizuho raised their price objective on Medtronic from $95.00 to $98.00 and gave the stock a “buy” rating in a research note on Wednesday, February 21st. Finally, Oppenheimer boosted their target price on shares of Medtronic from $89.00 to $92.00 and gave the company a “market perform” rating in a research note on Wednesday, February 21st. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat.com, Medtronic has a consensus rating of “Hold” and an average target price of $94.91.

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.