Insider Selling: Medtronic plc (NYSE:MDT) EVP Sells $71,001.56 in Stock

Medtronic plc (NYSE:MDT) EVP Michael Marinaro sold 854 shares of the stock in a transaction on Monday, April 8th. The shares were sold at an average price of $83.14, for a total value of $71,001.56. Following the transaction, the executive vice president now directly owns 27,925 shares in the company, valued at $2,321,684.50. The transaction was disclosed in a filing with the SEC, which is available through the SEC website.

Medtronic Price Performance

NYSE MDT opened at $82.16 on Friday. The stock’s fifty day moving average price is $84.80 and its 200 day moving average price is $80.97. 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. The company has a market cap of $109.09 billion, a price-to-earnings ratio of 26.17, a PEG ratio of 2.84 and a beta of 0.76.

Medtronic (NYSE:MDT) last released its quarterly earnings data on Tuesday, February 20th. The medical technology company reported $1.30 EPS for the quarter, beating the consensus estimate of $1.26 by $0.04. Medtronic had a net margin of 13.00% and a return on equity of 13.71%. The business had revenue of $8.09 billion for the quarter, compared to the consensus estimate of $7.95 billion. During the same period in the prior year, the firm earned $1.30 EPS. The business’s revenue for the quarter was up 4.7% on a year-over-year basis. As a group, equities research analysts forecast that Medtronic plc will post 5.2 earnings per share for the current year.

Medtronic Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, April 12th. Shareholders of record on Friday, March 22nd will be given a $0.69 dividend. The ex-dividend date is Thursday, March 21st. This represents a $2.76 dividend on an annualized basis and a dividend yield of 3.36%. Medtronic’s dividend payout ratio (DPR) is currently 87.90%.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on MDT shares. Oppenheimer lifted their target price on Medtronic from $89.00 to $92.00 and gave the company a “market perform” rating in a research report on Wednesday, February 21st. Truist Financial lifted their price objective on Medtronic from $87.00 to $90.00 and gave the company a “hold” rating in a research report on Wednesday, February 21st. Royal Bank of Canada reissued a “sector perform” rating and issued a $92.00 target price on shares of Medtronic in a report on Wednesday, February 21st. Finally, 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. One research analyst has rated the stock with a sell rating, four have given a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat, Medtronic presently has an average rating of “Moderate Buy” and an average price target of $94.91.

Hedge Funds Weigh In On Medtronic

A number of hedge funds have recently bought and sold shares of the business. Norges Bank purchased a new stake in Medtronic in the 4th quarter worth $1,229,726,000. Moneta Group Investment Advisors LLC raised its position in shares of Medtronic by 127,655.1% during the 4th 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 last quarter. Bank of New York Mellon Corp boosted its holdings in Medtronic by 33.1% in the 3rd quarter. Bank of New York Mellon Corp now owns 19,374,686 shares of the medical technology company’s stock worth $1,564,508,000 after buying an additional 4,816,172 shares during the last quarter. First Eagle Investment Management LLC increased its stake in Medtronic by 54.5% during the 4th quarter. First Eagle Investment Management LLC now owns 9,409,680 shares of the medical technology company’s stock worth $775,169,000 after buying an additional 3,320,800 shares in the last quarter. Finally, Pzena Investment Management LLC raised its holdings in shares of Medtronic by 112.8% during 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. Hedge funds and other institutional investors own 82.06% of the company’s stock.

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.