Newman Dignan & Sheerar Inc. Has $1.18 Million Position in Medtronic plc (NYSE:MDT)

Newman Dignan & Sheerar Inc. cut its stake in shares of Medtronic plc (NYSE:MDT) by 6.4% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 14,786 shares of the medical technology company’s stock after selling 1,010 shares during the quarter. Newman Dignan & Sheerar Inc.’s holdings in Medtronic were worth $1,181,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Fortitude Family Office LLC bought a new position in shares of Medtronic in the 3rd quarter worth about $27,000. Darwin Wealth Management LLC bought a new position in shares of Medtronic in the 3rd quarter worth about $27,000. Highline Wealth Partners LLC bought a new position in shares of Medtronic in the 3rd quarter worth about $27,000. J. Stern & Co. LLP bought a new position in shares of Medtronic in the 3rd quarter worth about $30,000. Finally, Stephens Consulting LLC raised its position in shares of Medtronic by 145.7% in the 4th quarter. Stephens Consulting LLC now owns 344 shares of the medical technology company’s stock worth $27,000 after acquiring an additional 204 shares in the last quarter. 82.06% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Medtronic

In related news, EVP Brett A. Wall sold 9,850 shares of the company’s stock in a transaction that occurred on Wednesday, January 8th. The stock was sold at an average price of $80.41, for a total value of $792,038.50. Following the transaction, the executive vice president now owns 40,708 shares in the company, valued at approximately $3,273,330.28. This represents a 19.48 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 0.20% of the company’s stock.

Medtronic Price Performance

Shares of NYSE MDT opened at $93.02 on Friday. Medtronic plc has a twelve month low of $75.96 and a twelve month high of $93.08. The stock’s 50 day moving average price is $85.33 and its 200-day moving average price is $86.72. The company has a market capitalization of $119.28 billion, a PE ratio of 28.45, a PEG ratio of 2.57 and a beta of 0.84. The company has a quick ratio of 1.39, a current ratio of 1.84 and a debt-to-equity ratio of 0.51.

Medtronic (NYSE:MDT) last announced its earnings results on Tuesday, November 19th. The medical technology company reported $1.26 earnings per share for the quarter, topping analysts’ consensus estimates of $1.25 by $0.01. Medtronic had a return on equity of 13.79% and a net margin of 13.00%. The firm had revenue of $8.40 billion for the quarter, compared to the consensus estimate of $8.27 billion. During the same quarter in the previous year, the business earned $1.25 EPS. The company’s revenue was up 5.2% compared to the same quarter last year. On average, equities analysts anticipate that Medtronic plc will post 5.45 EPS for the current year.

Medtronic Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, January 10th. Stockholders of record on Friday, December 27th were paid a $0.70 dividend. The ex-dividend date was Friday, December 27th. This represents a $2.80 dividend on an annualized basis and a dividend yield of 3.01%. Medtronic’s payout ratio is presently 85.63%.

Analyst Ratings Changes

MDT has been the subject of several research analyst reports. JPMorgan Chase & Co. lowered their price objective on Medtronic from $99.00 to $96.00 and set a “neutral” rating for the company in a research report on Friday, November 15th. Needham & Company LLC reaffirmed a “hold” rating on shares of Medtronic in a research report on Wednesday. Truist Financial decreased their target price on Medtronic from $93.00 to $89.00 and set a “hold” rating for the company in a research report on Wednesday, December 18th. Robert W. Baird decreased their target price on Medtronic from $96.00 to $93.00 and set a “neutral” rating for the company in a research report on Wednesday, November 20th. Finally, Barclays boosted their target price on Medtronic from $105.00 to $109.00 and gave the company an “overweight” rating in a research report on Tuesday, November 26th. One analyst has rated the stock with a sell rating, nine have assigned a hold rating, six have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, Medtronic presently has a consensus rating of “Hold” and an average target price 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.