Signature Estate & Investment Advisors LLC Sells 518 Shares of Medtronic plc (NYSE:MDT)

Signature Estate & Investment Advisors LLC lowered its stake in Medtronic plc (NYSE:MDT) by 12.4% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 3,671 shares of the medical technology company’s stock after selling 518 shares during the quarter. Signature Estate & Investment Advisors LLC’s holdings in Medtronic were worth $293,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of MDT. Raymond James Financial Inc. acquired a new stake in shares of Medtronic in the 4th quarter valued at about $852,732,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in Medtronic by 436.7% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 7,343,385 shares of the medical technology company’s stock worth $661,125,000 after acquiring an additional 5,975,110 shares in the last quarter. Van ECK Associates Corp grew its stake in Medtronic by 2,043.4% in the fourth quarter. Van ECK Associates Corp now owns 2,598,150 shares of the medical technology company’s stock valued at $207,540,000 after acquiring an additional 2,476,935 shares during the period. Boston Partners grew its stake in Medtronic by 117.4% in the fourth quarter. Boston Partners now owns 3,102,605 shares of the medical technology company’s stock valued at $248,311,000 after acquiring an additional 1,675,588 shares during the period. Finally, Janus Henderson Group PLC raised its position in shares of Medtronic by 58.4% during the third quarter. Janus Henderson Group PLC now owns 3,850,914 shares of the medical technology company’s stock worth $346,705,000 after purchasing an additional 1,420,263 shares during the period. Institutional investors own 82.06% of the company’s stock.

Insider Buying and Selling

In other Medtronic news, EVP Brett A. Wall sold 12,437 shares of the firm’s stock in a transaction on Friday, January 24th. The stock was sold at an average price of $90.00, for a total value of $1,119,330.00. Following the completion of the sale, the executive vice president now directly owns 40,979 shares of the company’s stock, valued at $3,688,110. This trade represents a 23.28 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. 0.20% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on the stock. Needham & Company LLC reissued a “hold” rating on shares of Medtronic in a research report on Wednesday, February 19th. UBS Group lifted their price objective on shares of Medtronic from $85.00 to $95.00 and gave the company a “neutral” rating in a report on Wednesday, February 19th. Royal Bank of Canada restated an “outperform” rating and issued a $105.00 target price on shares of Medtronic in a report on Wednesday, February 19th. Citigroup raised shares of Medtronic from a “neutral” rating to a “buy” rating and raised their price target for the company from $92.00 to $107.00 in a research report on Tuesday, March 4th. Finally, Truist Financial decreased 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. One equities research 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 company’s stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $96.07.

Medtronic Stock Down 0.5 %

Shares of NYSE:MDT opened at $88.17 on Thursday. Medtronic plc has a 1 year low of $75.96 and a 1 year high of $96.25. The company has a market capitalization of $113.08 billion, a PE ratio of 26.80, a price-to-earnings-growth ratio of 2.22 and a beta of 0.80. The business has a fifty day moving average price of $90.96 and a two-hundred day moving average price of $88.04. 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 (NYSE:MDT) last posted 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 net margin of 12.83% and a return on equity of 14.07%. The company had revenue of $8.29 billion during the quarter, compared to analyst estimates of $8.33 billion. Analysts forecast that Medtronic plc will post 5.46 earnings per share for the current year.

Medtronic Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, April 11th. Stockholders of record on Friday, March 28th will be paid a dividend of $0.70 per share. The ex-dividend date is Friday, March 28th. This represents a $2.80 annualized dividend and a dividend yield of 3.18%. Medtronic’s payout ratio is currently 85.11%.

Medtronic Company 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.