Fiduciary Trust Co Sells 2,910 Shares of Medtronic plc (NYSE:MDT)

by · The Cerbat Gem

Fiduciary Trust Co cut its position in shares of Medtronic plc (NYSE:MDT – Free Report) by 8.2% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 32,465 shares of the medical technology company’s stock after selling 2,910 shares during the period. Fiduciary Trust Co’s holdings in Medtronic were worth $2,593,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of MDT. Mainstream Capital Management LLC acquired a new position in shares of Medtronic in the 4th quarter valued at $26,000. Stephens Consulting LLC increased its stake in Medtronic by 145.7% in the fourth 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 during the period. Rakuten Securities Inc. raised its position in Medtronic by 753.8% in the fourth quarter. Rakuten Securities Inc. now owns 333 shares of the medical technology company’s stock worth $27,000 after purchasing an additional 294 shares in the last quarter. Optiver Holding B.V. bought a new position in Medtronic during the fourth quarter worth about $31,000. Finally, Chapman Financial Group LLC acquired a new stake in Medtronic during the fourth quarter valued at approximately $33,000. 82.06% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research firms recently commented on MDT. UBS Group raised their target price on Medtronic from $85.00 to $95.00 and gave the stock a “neutral” rating in a research report on Wednesday, February 19th. Citigroup raised Medtronic from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $92.00 to $107.00 in a report on Tuesday, March 4th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $105.00 target price on shares of Medtronic in a report on Wednesday, February 19th. Needham & Company LLC reissued a “hold” rating on shares of Medtronic in a report on Wednesday, February 19th. Finally, Truist Financial decreased their price objective on shares of Medtronic from $93.00 to $90.00 and set a “hold” rating on the stock in a research note on Friday, April 11th. 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. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $96.14.

View Our Latest Research Report on Medtronic

Medtronic Stock Down 0.2 %

Shares of MDT stock opened at $83.47 on Friday. The firm’s fifty day moving average price is $86.76 and its two-hundred day moving average price is $86.83. The company has a current ratio of 1.90, a quick ratio of 1.39 and a debt-to-equity ratio of 0.48. Medtronic plc has a 1 year low of $75.96 and a 1 year high of $96.25. The firm has a market capitalization of $107.05 billion, a P/E ratio of 25.37, a PEG ratio of 2.22 and a beta of 0.81.

Medtronic (NYSE:MDT – Get Free Report) last announced its quarterly earnings data 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 during the quarter, compared to analysts’ expectations of $8.33 billion. On average, equities analysts predict that Medtronic plc will post 5.46 EPS for the current fiscal year.

Medtronic Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, April 11th. Investors of record on Friday, March 28th were issued a dividend of $0.70 per share. The ex-dividend date was Friday, March 28th. This represents a $2.80 dividend on an annualized basis and a yield of 3.35%. Medtronic’s payout ratio is 85.11%.

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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