Clearstead Trust LLC Lowers Stake in Medtronic plc (NYSE:MDT)

Clearstead Trust LLC lessened its holdings in Medtronic plc (NYSE:MDT) by 9.9% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,217 shares of the medical technology company’s stock after selling 134 shares during the period. Clearstead Trust LLC’s holdings in Medtronic were worth $100,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds also recently bought and sold shares of the company. Loudon Investment Management LLC boosted its stake in shares of Medtronic by 9.5% in the fourth quarter. Loudon Investment Management LLC now owns 10,026 shares of the medical technology company’s stock worth $786,000 after acquiring an additional 874 shares during the last quarter. BKM Wealth Management LLC acquired a new position in Medtronic during the fourth quarter worth about $941,000. International Assets Investment Management LLC grew its stake in Medtronic by 8,340.3% during the 4th quarter. International Assets Investment Management LLC now owns 1,038,579 shares of the medical technology company’s stock valued at $85,558,000 after acquiring an additional 1,026,274 shares in the last quarter. Tower Research Capital LLC TRC raised its holdings in Medtronic by 69.3% in the 3rd quarter. Tower Research Capital LLC TRC now owns 40,476 shares of the medical technology company’s stock valued at $3,172,000 after acquiring an additional 16,574 shares during the last quarter. Finally, Exchange Traded Concepts LLC boosted its holdings in shares of Medtronic by 109,325.0% during the 4th quarter. Exchange Traded Concepts LLC now owns 91,917 shares of the medical technology company’s stock worth $7,572,000 after purchasing an additional 91,833 shares during the last quarter. Hedge funds and other institutional investors own 82.06% of the company’s stock.

Medtronic Stock Performance

Medtronic stock traded up $0.77 during midday trading on Friday, hitting $81.69. 4,987,236 shares of the company’s stock were exchanged, compared to its average volume of 6,078,836. The firm’s 50 day simple moving average is $83.08 and its 200 day simple moving average is $81.56. Medtronic plc has a 12-month low of $68.84 and a 12-month high of $91.00. The company has a debt-to-equity ratio of 0.46, a quick ratio of 1.71 and a current ratio of 2.30. The stock has a market cap of $108.47 billion, a price-to-earnings ratio of 26.02, a price-to-earnings-growth ratio of 2.66 and a beta of 0.78.

Medtronic (NYSE:MDT) last posted its quarterly earnings data on Tuesday, February 20th. The medical technology company reported $1.30 earnings per share 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 company had revenue of $8.09 billion during the quarter, compared to analysts’ expectations of $7.95 billion. During the same period last year, the firm earned $1.30 EPS. The firm’s revenue for the quarter was up 4.7% on a year-over-year basis. Equities research analysts predict that Medtronic plc will post 5.2 EPS for the current year.

Medtronic Announces Dividend

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

Insider Buying and Selling at Medtronic

In related news, EVP Michael Marinaro sold 854 shares of Medtronic stock in a transaction that occurred on 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 $2,321,684.50. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In related news, EVP Michael Marinaro sold 854 shares of the firm’s stock in a transaction dated 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 sale, 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 Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Sean Salmon sold 30,695 shares of Medtronic stock in a transaction that occurred 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 sale, the executive vice president now owns 48,289 shares of the company’s stock, valued at $4,110,842.57. The disclosure for this sale can be found here. 0.30% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

MDT has been the topic of a number of recent research reports. Royal Bank of Canada reissued a “sector perform” rating and set a $92.00 price objective on shares of Medtronic in a research note on Wednesday, February 21st. Truist Financial upped their price target on Medtronic from $87.00 to $90.00 and gave the company a “hold” rating in a research note on Wednesday, February 21st. Oppenheimer lifted their price target on shares of Medtronic from $89.00 to $92.00 and gave the company a “market perform” rating in a research report on Wednesday, February 21st. Finally, Mizuho lifted their target price on shares of Medtronic from $95.00 to $98.00 and gave the company a “buy” 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 six have given a buy rating to the stock. According to data from MarketBeat, the stock 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.