Bright Futures Wealth Management LLC. Has $225,000 Holdings in Medtronic plc (NYSE:MDT)

Bright Futures Wealth Management LLC. cut its position in Medtronic plc (NYSE:MDT) by 19.8% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 2,811 shares of the medical technology company’s stock after selling 693 shares during the period. Bright Futures Wealth Management LLC.’s holdings in Medtronic were worth $225,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Copley Financial Group Inc. bought a new position in shares of Medtronic in the third quarter worth about $694,000. Olstein Capital Management L.P. raised its stake in shares of Medtronic by 19.2% in 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 acquiring an additional 14,000 shares during the last quarter. Franklin Street Advisors Inc. NC raised its stake in shares of Medtronic by 32.6% in the fourth 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 raised its stake in shares of Medtronic by 322.6% in 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 acquiring an additional 56,178 shares during the last quarter. Finally, Czech National Bank raised its stake 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 acquiring an additional 16,786 shares during the last quarter. 82.06% of the stock is currently owned by institutional investors and hedge funds.

Medtronic Trading Up 1.0 %

MDT opened at $92.27 on Friday. The firm’s fifty day moving average is $85.16 and its two-hundred day moving average is $86.68. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.39 and a current ratio of 1.84. The firm has a market cap of $118.32 billion, a PE ratio of 28.22, a price-to-earnings-growth ratio of 2.57 and a beta of 0.84. Medtronic plc has a twelve month low of $75.96 and a twelve month high of $93.08.

Medtronic (NYSE:MDT) last posted its earnings results on Tuesday, November 19th. The medical technology company reported $1.26 earnings per share for the quarter, topping the consensus estimate of $1.25 by $0.01. The company had revenue of $8.40 billion for the quarter, compared to analyst estimates of $8.27 billion. Medtronic had a net margin of 13.00% and a return on equity of 13.79%. The business’s revenue for the quarter was up 5.2% compared to the same quarter last year. During the same period last year, the business posted $1.25 earnings per share. Equities research analysts anticipate 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. Shareholders of record on Friday, December 27th were issued a $0.70 dividend. The ex-dividend date of this dividend was Friday, December 27th. This represents a $2.80 annualized dividend and a yield of 3.03%. Medtronic’s dividend payout ratio (DPR) is presently 85.63%.

Insider Transactions at Medtronic

In other news, EVP Brett A. Wall sold 9,850 shares of the stock in a transaction on Wednesday, January 8th. The shares were sold at an average price of $80.41, for a total transaction of $792,038.50. Following the completion of the sale, the executive vice president now owns 40,708 shares of the company’s stock, valued at $3,273,330.28. This represents a 19.48 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.20% of the stock is owned by insiders.

Analyst Ratings Changes

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

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.