Bellecapital International Ltd. Has $520,000 Stock Position in Medtronic plc (NYSE:MDT)

Bellecapital International Ltd. decreased its position in Medtronic plc (NYSE:MDTFree Report) by 57.7% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 6,318 shares of the medical technology company’s stock after selling 8,630 shares during the period. Bellecapital International Ltd.’s holdings in Medtronic were worth $520,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Bollard Group LLC grew its holdings in shares of Medtronic by 1.8% in the 2nd quarter. Bollard Group LLC now owns 6,955 shares of the medical technology company’s stock valued at $613,000 after buying an additional 121 shares during the period. DT Investment Partners LLC boosted its stake in Medtronic by 1.0% in the 2nd quarter. DT Investment Partners LLC now owns 12,076 shares of the medical technology company’s stock worth $1,059,000 after purchasing an additional 124 shares during the period. SRS Capital Advisors Inc. boosted its stake in Medtronic by 19.6% in the 2nd quarter. SRS Capital Advisors Inc. now owns 782 shares of the medical technology company’s stock worth $69,000 after purchasing an additional 128 shares during the period. Modera Wealth Management LLC boosted its stake in Medtronic by 3.9% in the 3rd quarter. Modera Wealth Management LLC now owns 3,537 shares of the medical technology company’s stock worth $277,000 after purchasing an additional 133 shares during the period. Finally, jvl associates llc boosted its stake in Medtronic by 3.8% in the 4th quarter. jvl associates llc now owns 3,840 shares of the medical technology company’s stock worth $316,000 after purchasing an additional 139 shares during the period. Institutional investors and hedge funds own 82.06% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on the stock. Truist Financial boosted their price target on shares of Medtronic from $87.00 to $90.00 and gave the stock a “hold” rating in a research report on Wednesday, February 21st. Royal Bank of Canada reissued a “sector perform” rating and set a $92.00 price target on shares of Medtronic in a research report on Wednesday, February 21st. Mizuho boosted their price target on shares of Medtronic from $95.00 to $98.00 and gave the stock a “buy” rating in a research report on Wednesday, February 21st. Finally, Oppenheimer boosted their price target on shares of Medtronic from $89.00 to $92.00 and gave the stock a “market perform” rating in a research report on Wednesday, February 21st. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $94.91.

Get Our Latest Report on MDT

Medtronic Stock Performance

Shares of NYSE:MDT opened at $87.15 on Monday. The company’s 50 day moving average price is $85.26 and its two-hundred day moving average price is $80.81. Medtronic plc has a 12-month low of $68.84 and a 12-month high of $92.02. The firm has a market cap of $115.72 billion, a PE ratio of 27.75, a PEG ratio of 2.98 and a beta of 0.76. The company has a quick ratio of 1.71, a current ratio of 2.30 and a debt-to-equity ratio of 0.46.

Medtronic (NYSE:MDTGet Free Report) last announced its earnings results on Tuesday, February 20th. The medical technology company reported $1.30 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.26 by $0.04. Medtronic had a net margin of 13.00% and a return on equity of 13.71%. The firm had revenue of $8.09 billion for the quarter, compared to analyst estimates of $7.95 billion. During the same quarter in the prior year, the business posted $1.30 EPS. The business’s revenue was up 4.7% compared to the same quarter last year. Equities research analysts predict that Medtronic plc will post 5.2 earnings per share for the current year.

Medtronic Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, April 12th. Investors of record on Friday, March 22nd will be given a dividend of $0.69 per share. The ex-dividend date of this dividend is Thursday, March 21st. This represents a $2.76 annualized dividend and a dividend yield of 3.17%. Medtronic’s dividend payout ratio is 87.90%.

Insider Buying and Selling

In related news, EVP Sean Salmon sold 30,695 shares of the stock in a transaction that occurred on Wednesday, February 21st. The shares were sold at an average price of $85.13, for a total transaction of $2,613,065.35. Following the sale, the executive vice president now owns 48,289 shares in the company, valued at approximately $4,110,842.57. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.30% of the stock is currently owned by company insiders.

About Medtronic

(Free Report)

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.

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Institutional Ownership by Quarter for Medtronic (NYSE:MDT)

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