Miller Howard Investments Inc. NY Sells 17,116 Shares of Medtronic plc (NYSE:MDT)

Miller Howard Investments Inc. NY trimmed its position in Medtronic plc (NYSE:MDT) by 2.3% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 735,219 shares of the medical technology company’s stock after selling 17,116 shares during the quarter. Medtronic makes up approximately 1.9% of Miller Howard Investments Inc. NY’s portfolio, making the stock its 20th biggest holding. Miller Howard Investments Inc. NY’s holdings in Medtronic were worth $58,729,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Copley Financial Group Inc. purchased a new stake in Medtronic in the 3rd quarter worth approximately $694,000. Olstein Capital Management L.P. grew its position in Medtronic by 19.2% during the third quarter. Olstein Capital Management L.P. now owns 87,000 shares of the medical technology company’s stock worth $7,833,000 after buying an additional 14,000 shares in the last quarter. Franklin Street Advisors Inc. NC increased its stake in Medtronic by 32.6% in the 4th quarter. Franklin Street Advisors Inc. NC now owns 73,517 shares of the medical technology company’s stock worth $5,873,000 after acquiring an additional 18,057 shares during the last quarter. Y Intercept Hong Kong Ltd grew its holdings in shares of Medtronic by 322.6% during the third quarter. Y Intercept Hong Kong Ltd now owns 73,593 shares of the medical technology company’s stock worth $6,626,000 after purchasing an additional 56,178 shares in the last quarter. Finally, Czech National Bank increased its position in shares of Medtronic by 6.4% in the fourth quarter. Czech National Bank now owns 278,065 shares of the medical technology company’s stock worth $22,212,000 after purchasing an additional 16,786 shares during the last quarter. 82.06% of the stock is currently owned by institutional investors.

Medtronic Trading Down 0.9 %

NYSE:MDT opened at $90.01 on Friday. Medtronic plc has a one year low of $75.96 and a one year high of $93.08. The business has a fifty day moving average price of $84.85 and a 200-day moving average price of $86.38. The firm has a market capitalization of $115.42 billion, a price-to-earnings ratio of 27.53, a price-to-earnings-growth ratio of 2.57 and a beta of 0.84. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.84 and a quick ratio of 1.39.

Medtronic (NYSE:MDT) last released its earnings results on Tuesday, November 19th. The medical technology company reported $1.26 earnings per share for the quarter, beating analysts’ consensus estimates of $1.25 by $0.01. The company had revenue of $8.40 billion for the quarter, compared to analysts’ expectations of $8.27 billion. Medtronic had a net margin of 13.00% and a return on equity of 13.79%. Medtronic’s revenue for the quarter was up 5.2% on a year-over-year basis. During the same quarter in the previous year, the company earned $1.25 EPS. Sell-side analysts forecast that Medtronic plc will post 5.45 EPS for the current year.

Medtronic Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, January 10th. Investors of record on Friday, December 27th were given a $0.70 dividend. The ex-dividend date of this dividend was Friday, December 27th. This represents a $2.80 dividend on an annualized basis and a dividend yield of 3.11%. Medtronic’s dividend payout ratio is currently 85.63%.

Insider Buying and Selling at Medtronic

In related news, EVP Brett A. Wall sold 12,437 shares of the company’s stock in a transaction on Friday, January 24th. The shares were sold at an average price of $90.00, for a total transaction of $1,119,330.00. Following the sale, the executive vice president now owns 40,979 shares of the company’s stock, valued at $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 is available through this link. 0.20% of the stock is currently owned by company insiders.

Analyst Ratings Changes

MDT has been the topic of several research reports. JPMorgan Chase & Co. lowered their price objective on shares of Medtronic from $99.00 to $96.00 and set a “neutral” rating on the stock in a research report on Friday, November 15th. Needham & Company LLC reaffirmed a “hold” rating on shares of Medtronic in a research note on Monday, November 18th. Wells Fargo & Company decreased their price target on shares of Medtronic from $106.00 to $98.00 and set an “overweight” rating on the stock in a research note on Wednesday, November 20th. Truist Financial decreased their target price on shares of Medtronic from $93.00 to $89.00 and set a “hold” rating on the stock in a research report on Wednesday, December 18th. Finally, Sanford C. Bernstein increased their target price on Medtronic from $96.00 to $97.00 and gave the company an “outperform” rating in a report on Wednesday, November 20th. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $95.00.

About Medtronic

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.