Flputnam Investment Management Co. Sells 13,082 Shares of Medtronic plc (NYSE:MDT)

Flputnam Investment Management Co. trimmed its holdings in Medtronic plc (NYSE:MDT) by 37.9% during the fourth quarter, Holdings Channel reports. The institutional investor owned 21,462 shares of the medical technology company’s stock after selling 13,082 shares during the quarter. Flputnam Investment Management Co.’s holdings in Medtronic were worth $1,768,000 as of its most recent SEC filing.

A number of other large investors have also recently made changes to their positions in the business. SRS Capital Advisors Inc. lifted its stake in shares of Medtronic by 19.6% in the second quarter. SRS Capital Advisors Inc. now owns 782 shares of the medical technology company’s stock valued at $69,000 after buying an additional 128 shares in the last quarter. Modera Wealth Management LLC lifted its position in shares of Medtronic by 3.9% during the third quarter. Modera Wealth Management LLC now owns 3,537 shares of the medical technology company’s stock valued at $277,000 after purchasing an additional 133 shares in the last quarter. jvl associates llc lifted its position in shares of Medtronic by 3.8% during the fourth quarter. jvl associates llc now owns 3,840 shares of the medical technology company’s stock valued at $316,000 after purchasing an additional 139 shares in the last quarter. Washington Trust Advisors Inc. lifted its position in shares of Medtronic by 7.1% during the third quarter. Washington Trust Advisors Inc. now owns 2,102 shares of the medical technology company’s stock valued at $165,000 after purchasing an additional 140 shares in the last quarter. Finally, Dfpg Investments LLC lifted its position in shares of Medtronic by 0.3% during the fourth quarter. Dfpg Investments LLC now owns 53,045 shares of the medical technology company’s stock valued at $4,413,000 after purchasing an additional 142 shares in the last quarter. 82.06% of the stock is owned by institutional investors.

Medtronic Trading Down 1.2 %

Shares of Medtronic stock opened at $79.25 on Wednesday. Medtronic plc has a 1 year low of $68.84 and a 1 year high of $92.02. The firm has a market cap of $105.23 billion, a PE ratio of 25.24, a PEG ratio of 2.74 and a beta of 0.76. 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 50 day simple moving average of $84.35 and a two-hundred day simple moving average of $81.02.

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

Medtronic Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, April 12th. Stockholders of record on Friday, March 22nd were issued a $0.69 dividend. The ex-dividend date of this dividend was Thursday, March 21st. This represents a $2.76 dividend on an annualized basis and a dividend yield of 3.48%. Medtronic’s payout ratio is 87.90%.

Analyst Ratings Changes

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

Insider Transactions at Medtronic

In related news, EVP Michael Marinaro sold 854 shares of Medtronic 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 of the company’s stock, valued at $2,321,684.50. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In other Medtronic news, EVP Sean Salmon sold 30,695 shares of the business’s stock in a transaction on Wednesday, February 21st. The shares were sold at an average price of $85.13, for a total transaction of $2,613,065.35. Following the transaction, 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 legal filing with the SEC, which can be accessed through the SEC website. Also, EVP Michael Marinaro sold 854 shares of the business’s stock in a transaction on Monday, April 8th. The shares were sold at an average price of $83.14, for a total transaction 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 disclosure for this sale can be found here. Company insiders own 0.30% 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.