Janiczek Wealth Management LLC Reduces Stock Holdings in Medtronic plc (NYSE:MDT)

Janiczek Wealth Management LLC trimmed its holdings in shares of Medtronic plc (NYSE:MDT) by 57.0% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,922 shares of the medical technology company’s stock after selling 3,875 shares during the quarter. Janiczek Wealth Management LLC’s holdings in Medtronic were worth $241,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Franklin Parlapiano Turner & Welch LLC increased its holdings in shares of Medtronic by 4.0% in the fourth quarter. Franklin Parlapiano Turner & Welch LLC now owns 83,168 shares of the medical technology company’s stock valued at $6,851,000 after purchasing an additional 3,179 shares during the period. GHP Investment Advisors Inc. increased its holdings in shares of Medtronic by 3.1% in the fourth quarter. GHP Investment Advisors Inc. now owns 38,741 shares of the medical technology company’s stock valued at $3,191,000 after purchasing an additional 1,149 shares during the period. Advisors Management Group Inc. ADV increased its holdings in shares of Medtronic by 6.4% in the fourth quarter. Advisors Management Group Inc. ADV now owns 27,957 shares of the medical technology company’s stock valued at $2,303,000 after purchasing an additional 1,672 shares during the period. Randolph Co Inc acquired a new position in shares of Medtronic in the fourth quarter valued at about $24,228,000. Finally, Liberty One Investment Management LLC increased its holdings in shares of Medtronic by 7.7% in the fourth quarter. Liberty One Investment Management LLC now owns 34,192 shares of the medical technology company’s stock valued at $2,817,000 after purchasing an additional 2,438 shares during the period. 82.06% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research firms recently commented on MDT. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $92.00 target price on shares of Medtronic in a report on Wednesday, February 21st. Oppenheimer raised their target price on Medtronic from $89.00 to $92.00 and gave the stock a “market perform” rating in a report on Wednesday, February 21st. Mizuho raised their target price on Medtronic from $95.00 to $98.00 and gave the stock a “buy” rating in a report on Wednesday, February 21st. Finally, Truist Financial increased their price target on Medtronic from $87.00 to $90.00 and gave the stock a “hold” rating in a research report on Wednesday, February 21st. One research 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. According to data from MarketBeat.com, Medtronic currently has a consensus rating of “Moderate Buy” and a consensus target price of $94.91.

Insider Activity at Medtronic

In other Medtronic news, EVP Sean Salmon sold 30,695 shares of Medtronic stock in a transaction dated 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 of the company’s stock, valued at approximately $4,110,842.57. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other news, EVP Michael Marinaro sold 854 shares of the business’s stock in a transaction dated Monday, April 8th. The stock was sold at an average price of $83.14, for a total value of $71,001.56. Following the completion of the sale, the executive vice president now directly owns 27,925 shares of the company’s stock, valued at approximately $2,321,684.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Sean Salmon sold 30,695 shares of the business’s stock in a transaction dated 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 directly owns 48,289 shares of the company’s stock, valued at $4,110,842.57. The disclosure for this sale can be found here. 0.30% of the stock is currently owned by company insiders.

Medtronic Price Performance

MDT stock opened at $81.56 on Friday. The business has a fifty day moving average of $84.80 and a two-hundred day moving average of $80.97. The company has a quick ratio of 1.71, a current ratio of 2.30 and a debt-to-equity ratio of 0.46. The stock has a market cap of $108.30 billion, a price-to-earnings ratio of 26.17, a price-to-earnings-growth ratio of 2.82 and a beta of 0.76. Medtronic plc has a 52-week low of $68.84 and a 52-week high of $92.02.

Medtronic (NYSE:MDT) last issued its quarterly earnings data 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. Medtronic had a return on equity of 13.71% and a net margin of 13.00%. The business had revenue of $8.09 billion during the quarter, compared to analysts’ expectations of $7.95 billion. During the same period in the previous year, the firm posted $1.30 earnings per share. The company’s revenue was up 4.7% on a year-over-year basis. As a group, research analysts anticipate that Medtronic plc will post 5.2 earnings per share for the current year.

Medtronic Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, April 12th. Investors of record on Friday, March 22nd will be issued 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 yield of 3.38%. Medtronic’s dividend payout ratio (DPR) is presently 87.90%.

Medtronic Company Profile

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.