Dumont & Blake Investment Advisors LLC Has $939,000 Stake in Medtronic plc (NYSE:MDT)

Dumont & Blake Investment Advisors LLC decreased its holdings in Medtronic plc (NYSE:MDTFree Report) by 6.5% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 11,395 shares of the medical technology company’s stock after selling 795 shares during the quarter. Dumont & Blake Investment Advisors LLC’s holdings in Medtronic were worth $939,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also bought and sold shares of MDT. WoodTrust Financial Corp increased its holdings in Medtronic by 9.2% in the 4th quarter. WoodTrust Financial Corp now owns 4,206 shares of the medical technology company’s stock valued at $346,000 after buying an additional 356 shares during the period. Trust Point Inc. bought a new position in Medtronic in the 4th quarter valued at about $870,000. DORCHESTER WEALTH MANAGEMENT Co increased its holdings in Medtronic by 3.3% in the 4th quarter. DORCHESTER WEALTH MANAGEMENT Co now owns 4,805 shares of the medical technology company’s stock valued at $396,000 after buying an additional 152 shares during the period. Factory Mutual Insurance Co. increased its holdings in Medtronic by 10.0% in the 4th quarter. Factory Mutual Insurance Co. now owns 339,740 shares of the medical technology company’s stock valued at $27,988,000 after buying an additional 31,000 shares during the period. Finally, Venturi Wealth Management LLC increased its holdings in Medtronic by 61.5% in the 4th quarter. Venturi Wealth Management LLC now owns 4,255 shares of the medical technology company’s stock valued at $351,000 after buying an additional 1,620 shares during the period. Institutional investors and hedge funds own 82.06% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have commented on MDT shares. Truist Financial raised their target price on shares of Medtronic from $87.00 to $90.00 and gave the company a “hold” rating in a report on Wednesday, February 21st. Mizuho lifted their price target on shares of Medtronic from $95.00 to $98.00 and gave the company a “buy” rating in a report on Wednesday, February 21st. Oppenheimer lifted their price target on shares of Medtronic from $89.00 to $92.00 and gave the company a “market perform” rating in a report on Wednesday, February 21st. Finally, Royal Bank of Canada reaffirmed a “sector perform” rating and set a $92.00 price target on shares of Medtronic in a report on Wednesday, February 21st. One 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, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $94.91.

View Our Latest Stock Report on Medtronic

Insider Transactions at Medtronic

In other news, EVP Sean Salmon sold 30,695 shares of the business’s 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 transaction, the executive vice president now owns 48,289 shares in the company, valued at approximately $4,110,842.57. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.30% of the company’s stock.

Medtronic Trading Down 0.5 %

MDT traded down $0.42 during trading on Wednesday, reaching $84.78. 3,754,042 shares of the company’s stock were exchanged, compared to its average volume of 6,249,671. Medtronic plc has a one year low of $68.84 and a one year high of $92.02. The company has a current ratio of 2.30, a quick ratio of 1.71 and a debt-to-equity ratio of 0.46. The stock has a market capitalization of $112.57 billion, a PE ratio of 27.13, a price-to-earnings-growth ratio of 2.98 and a beta of 0.76. The firm has a fifty day moving average price of $85.24 and a two-hundred day moving average price of $80.87.

Medtronic (NYSE:MDTGet Free Report) last posted its earnings results on Tuesday, February 20th. The medical technology company reported $1.30 earnings per share 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 period in the previous year, the firm posted $1.30 EPS. The company’s revenue for the quarter was up 4.7% compared to the same quarter last year. As a group, equities research analysts forecast that Medtronic plc will post 5.2 earnings per share for the current fiscal year.

Medtronic Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, April 12th. Stockholders of record on Friday, March 22nd will be given a $0.69 dividend. The ex-dividend date of this dividend is Thursday, March 21st. This represents a $2.76 dividend on an annualized basis and a dividend yield of 3.26%. Medtronic’s dividend payout ratio (DPR) is currently 87.90%.

Medtronic 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.

See Also

Institutional Ownership by Quarter for Medtronic (NYSE:MDT)

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