Signaturefd LLC Sells 804 Shares of Medtronic plc (NYSE:MDT)

Signaturefd LLC lowered its stake in Medtronic plc (NYSE:MDT) by 6.0% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 12,528 shares of the medical technology company’s stock after selling 804 shares during the quarter. Signaturefd LLC’s holdings in Medtronic were worth $1,001,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently modified their holdings of MDT. Mainstream Capital Management LLC purchased a new stake in shares of Medtronic in the 4th quarter valued at about $26,000. Darwin Wealth Management LLC purchased a new stake in shares of Medtronic in the 3rd quarter valued at about $27,000. Stephens Consulting LLC raised its holdings 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 valued at $27,000 after acquiring an additional 204 shares in the last quarter. Rakuten Securities Inc. raised its holdings in shares of Medtronic by 753.8% in the 4th quarter. Rakuten Securities Inc. now owns 333 shares of the medical technology company’s stock valued at $27,000 after acquiring an additional 294 shares in the last quarter. Finally, J. Stern & Co. LLP purchased a new stake in shares of Medtronic in the 3rd quarter valued at about $30,000. Hedge funds and other institutional investors own 82.06% of the company’s stock.

Wall Street Analyst Weigh In

MDT has been the topic of a number of research reports. Sanford C. Bernstein raised their price objective on Medtronic from $96.00 to $97.00 and gave the company an “outperform” rating in a report on Wednesday, November 20th. Wells Fargo & Company decreased their price target on 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 price target on Medtronic from $93.00 to $89.00 and set a “hold” rating on the stock in a research note on Wednesday, December 18th. UBS Group lifted their price target on Medtronic from $85.00 to $95.00 and gave the stock a “neutral” rating in a research note on Wednesday, February 19th. Finally, Citigroup raised Medtronic from a “neutral” rating to a “buy” rating and lifted their price target for the stock from $92.00 to $107.00 in a research note on Tuesday, March 4th. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating, six have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $96.07.

Insider Activity at Medtronic

In other Medtronic news, EVP Brett A. Wall sold 12,437 shares of Medtronic stock in a transaction on Friday, January 24th. The stock was sold at an average price of $90.00, for a total transaction of $1,119,330.00. Following the completion of the transaction, the executive vice president now owns 40,979 shares in the company, valued at approximately $3,688,110. The trade was a 23.28 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.20% of the stock is currently owned by corporate insiders.

Medtronic Trading Down 1.3 %

NYSE MDT opened at $92.10 on Wednesday. The company has a quick ratio of 1.39, a current ratio of 1.90 and a debt-to-equity ratio of 0.48. Medtronic plc has a twelve month low of $75.96 and a twelve month high of $96.25. The firm has a market capitalization of $118.12 billion, a PE ratio of 27.99, a P/E/G ratio of 2.22 and a beta of 0.80. The stock’s 50 day moving average is $90.12 and its 200 day moving average is $88.02.

Medtronic (NYSE:MDT) last released its quarterly earnings results on Tuesday, February 18th. The medical technology company reported $1.39 earnings per share for the quarter, beating the consensus estimate 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 analyst estimates of $8.33 billion. Research analysts forecast that Medtronic plc will post 5.46 earnings per share for the current fiscal year.

Medtronic Announces Dividend

The company 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 dividend of $0.70 per share. The ex-dividend date of this dividend is Friday, March 28th. This represents a $2.80 annualized dividend and a dividend yield of 3.04%. Medtronic’s dividend payout ratio is presently 85.11%.

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.