Oak Harbor Wealth Partners LLC Sells 1,490 Shares of Medtronic plc (NYSE:MDT)

Oak Harbor Wealth Partners LLC trimmed its holdings in shares of Medtronic plc (NYSE:MDT) by 5.4% in the fourth quarter, Holdings Channel.com reports. The firm owned 25,918 shares of the medical technology company’s stock after selling 1,490 shares during the quarter. Oak Harbor Wealth Partners LLC’s holdings in Medtronic were worth $2,070,000 as of its most recent SEC filing.

A number of other large investors have also bought and sold shares of the business. Amundi increased its stake in Medtronic by 0.7% during the 4th quarter. Amundi now owns 4,883,584 shares of the medical technology company’s stock worth $403,773,000 after purchasing an additional 31,794 shares in the last quarter. Naviter Wealth LLC grew its stake in shares of Medtronic by 19.1% during the 4th quarter. Naviter Wealth LLC now owns 19,473 shares of the medical technology company’s stock worth $1,569,000 after acquiring an additional 3,120 shares in the last quarter. Larson Financial Group LLC grew its stake in shares of Medtronic by 20.1% during the 4th quarter. Larson Financial Group LLC now owns 29,635 shares of the medical technology company’s stock worth $2,367,000 after acquiring an additional 4,960 shares in the last quarter. Bank Julius Baer & Co. Ltd Zurich grew its stake in shares of Medtronic by 174.3% during the 4th quarter. Bank Julius Baer & Co. Ltd Zurich now owns 894,086 shares of the medical technology company’s stock worth $75,994,000 after acquiring an additional 568,107 shares in the last quarter. Finally, Machina Capital S.A.S. bought a new position in shares of Medtronic during the 4th quarter worth approximately $1,534,000. 82.06% of the stock is owned by institutional investors.

Insider Buying and Selling

In related news, EVP Brett A. Wall sold 9,850 shares of the firm’s stock in a transaction 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 trade represents a 19.48 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 0.20% of the stock is owned by company insiders.

Medtronic Stock Up 1.6 %

MDT stock opened at $94.58 on Friday. The company has a debt-to-equity ratio of 0.48, a current ratio of 1.90 and a quick ratio of 1.39. Medtronic plc has a fifty-two week low of $75.96 and a fifty-two week high of $95.57. The stock has a market capitalization of $121.30 billion, a price-to-earnings ratio of 28.75, a PEG ratio of 2.22 and a beta of 0.80. The business’s fifty day moving average price is $88.33 and its two-hundred day moving average price is $87.78.

Medtronic (NYSE:MDT) last issued its quarterly earnings results on Tuesday, February 18th. The medical technology company reported $1.39 EPS for the quarter, topping analysts’ consensus estimates of $1.36 by $0.03. Medtronic had a return on equity of 14.07% and a net margin of 12.83%. The company had revenue of $8.29 billion for the quarter, compared to analysts’ expectations of $8.33 billion. On average, equities analysts anticipate that Medtronic plc will post 5.46 earnings per share for the current year.

Medtronic Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, April 11th. Investors of record on Friday, March 28th will be given a $0.70 dividend. This represents a $2.80 dividend on an annualized basis and a dividend yield of 2.96%. The ex-dividend date is Friday, March 28th. Medtronic’s payout ratio is currently 85.11%.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on the company. Wells Fargo & Company cut their price objective on Medtronic from $106.00 to $98.00 and set an “overweight” rating for the company in a report on Wednesday, November 20th. Truist Financial cut their price objective on Medtronic from $93.00 to $89.00 and set a “hold” rating for the company in a report on Wednesday, December 18th. Needham & Company LLC reissued a “hold” rating on shares of Medtronic in a report on Wednesday, February 19th. Barclays raised their price target on Medtronic from $105.00 to $109.00 and gave the company an “overweight” rating in a report on Tuesday, November 26th. Finally, JPMorgan Chase & Co. cut their price target on Medtronic from $99.00 to $96.00 and set a “neutral” rating for the company in a report on Friday, November 15th. One analyst has rated the stock with a sell rating, eight have given a hold rating, six have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, Medtronic currently has a consensus rating of “Hold” and a consensus target price of $96.07.

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.