IRON Financial LLC Sells 370 Shares of Medtronic plc (NYSE:MDT)

IRON Financial LLC lowered its position in Medtronic plc (NYSE:MDTFree Report) by 4.6% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 7,621 shares of the medical technology company’s stock after selling 370 shares during the quarter. IRON Financial LLC’s holdings in Medtronic were worth $628,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in MDT. Moneta Group Investment Advisors LLC increased its holdings in shares of Medtronic by 127,655.1% in the fourth quarter. Moneta Group Investment Advisors LLC now owns 14,160,371 shares of the medical technology company’s stock worth $1,100,544,000 after purchasing an additional 14,149,287 shares during the period. Norges Bank bought a new position in Medtronic in the fourth quarter valued at $1,062,316,000. Bank of New York Mellon Corp increased its stake in Medtronic by 33.1% in the third quarter. Bank of New York Mellon Corp now owns 19,374,686 shares of the medical technology company’s stock valued at $1,564,508,000 after acquiring an additional 4,816,172 shares during the last quarter. Pzena Investment Management LLC increased its stake in Medtronic by 112.8% in the third quarter. Pzena Investment Management LLC now owns 5,730,577 shares of the medical technology company’s stock valued at $449,048,000 after acquiring an additional 3,037,394 shares during the last quarter. Finally, Morgan Stanley increased its stake in Medtronic by 9.2% in the third quarter. Morgan Stanley now owns 23,777,808 shares of the medical technology company’s stock valued at $1,863,229,000 after acquiring an additional 1,994,123 shares during the last quarter. Institutional investors own 82.06% of the company’s stock.

Analyst Ratings Changes

A number of research firms recently commented on MDT. Royal Bank of Canada reissued a “sector perform” rating and issued a $92.00 target price on shares of Medtronic in a research note on Wednesday, February 21st. Oppenheimer raised their price objective on Medtronic from $89.00 to $92.00 and gave the company a “market perform” rating in a research note on Wednesday, February 21st. Truist Financial raised their price objective on Medtronic from $87.00 to $90.00 and gave the company a “hold” rating in a research note on Wednesday, February 21st. Finally, Mizuho raised their price objective on Medtronic from $95.00 to $98.00 and gave the company a “buy” rating in a research note on Wednesday, February 21st. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $94.91.

Read Our Latest Report on Medtronic

Insider Activity at Medtronic

In other Medtronic news, EVP Sean Salmon sold 30,695 shares of Medtronic stock in a transaction that occurred on Wednesday, February 21st. The shares were sold at an average price of $85.13, for a total value of $2,613,065.35. Following the completion of the sale, the executive vice president now owns 48,289 shares of the company’s stock, valued at approximately $4,110,842.57. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. 0.30% of the stock is owned by insiders.

Medtronic Stock Performance

Shares of MDT opened at $87.15 on Monday. Medtronic plc has a one year low of $68.84 and a one year high of $92.02. The company has a 50-day simple moving average of $85.26 and a two-hundred day simple moving average of $80.81. The firm has a market capitalization of $115.72 billion, a PE ratio of 27.75, a price-to-earnings-growth ratio of 2.98 and a beta of 0.76. The company has a debt-to-equity ratio of 0.46, a current ratio of 2.30 and a quick ratio of 1.71.

Medtronic (NYSE:MDTGet Free Report) last announced its earnings results on Tuesday, February 20th. The medical technology company reported $1.30 earnings per share for the quarter, beating analysts’ consensus estimates of $1.26 by $0.04. The business had revenue of $8.09 billion during the quarter, compared to the consensus estimate of $7.95 billion. Medtronic had a net margin of 13.00% and a return on equity of 13.71%. The business’s revenue for the quarter was up 4.7% on a year-over-year basis. During the same quarter last year, the firm earned $1.30 earnings per share. On average, analysts anticipate that Medtronic plc will post 5.2 EPS for the current fiscal year.

Medtronic Dividend Announcement

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. This represents a $2.76 annualized dividend and a dividend yield of 3.17%. The ex-dividend date is Thursday, March 21st. Medtronic’s dividend payout ratio (DPR) is currently 87.90%.

Medtronic Company Profile

(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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