Uncommon Cents Investing LLC Sells 195 Shares of Medtronic plc (NYSE:MDT)

Uncommon Cents Investing LLC cut its position in shares of Medtronic plc (NYSE:MDT) by 0.6% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 29,929 shares of the medical technology company’s stock after selling 195 shares during the quarter. Uncommon Cents Investing LLC’s holdings in Medtronic were worth $2,466,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of MDT. Hartford Financial Management Inc. grew its holdings in shares of Medtronic by 425.0% during the third quarter. Hartford Financial Management Inc. now owns 315 shares of the medical technology company’s stock worth $25,000 after buying an additional 255 shares in the last quarter. Fortitude Family Office LLC bought a new position in shares of Medtronic during the fourth quarter worth about $25,000. Leith Wheeler Investment Counsel Ltd. grew its holdings in shares of Medtronic by 293.0% during the fourth quarter. Leith Wheeler Investment Counsel Ltd. now owns 316,643 shares of the medical technology company’s stock worth $26,000 after buying an additional 236,064 shares in the last quarter. Financial Gravity Asset Management Inc. grew its stake in Medtronic by 317.0% in the third quarter. Financial Gravity Asset Management Inc. now owns 367 shares of the medical technology company’s stock valued at $29,000 after purchasing an additional 279 shares in the last quarter. Finally, Princeton Global Asset Management LLC bought a new position in Medtronic in the third quarter valued at approximately $31,000. 82.06% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

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

Medtronic Stock Performance

MDT opened at $87.13 on Friday. The business has a fifty day simple moving average of $85.23 and a 200 day simple moving average of $80.73. The company has a market capitalization of $115.69 billion, a PE ratio of 27.75, a price-to-earnings-growth ratio of 2.97 and a beta of 0.76. Medtronic plc has a 1 year low of $68.84 and a 1 year high of $92.02. 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:MDT) last released its quarterly earnings results on Tuesday, February 20th. The medical technology company reported $1.30 earnings per share (EPS) for the quarter, beating the consensus estimate 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 return on equity of 13.71% and a net margin of 13.00%. The firm’s quarterly revenue was up 4.7% on a year-over-year basis. During the same period in the previous year, the company posted $1.30 EPS. Research analysts expect that Medtronic plc will post 5.2 EPS 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 paid a $0.69 dividend. The ex-dividend date of this dividend is Thursday, March 21st. This represents a $2.76 annualized dividend and a yield of 3.17%. Medtronic’s dividend payout ratio (DPR) is presently 87.90%.

Insider Activity at Medtronic

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

About Medtronic

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.