Medtronic plc (NYSE:MDT) Shares Sold by Desjardins Global Asset Management Inc.

Desjardins Global Asset Management Inc. trimmed its holdings in shares of Medtronic plc (NYSE:MDT) by 4.3% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 23,232 shares of the medical technology company’s stock after selling 1,051 shares during the period. Desjardins Global Asset Management Inc.’s holdings in Medtronic were worth $1,914,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of the business. Marino Stram & Associates LLC lifted its holdings in Medtronic by 1.8% in the fourth quarter. Marino Stram & Associates LLC now owns 7,127 shares of the medical technology company’s stock worth $587,000 after acquiring an additional 126 shares during the last quarter. St. James Investment Company LLC raised its position in shares of Medtronic by 20.5% during the 4th quarter. St. James Investment Company LLC now owns 385,160 shares of the medical technology company’s stock worth $31,729,000 after purchasing an additional 65,570 shares during the period. LifePlan Financial LLC bought a new stake in shares of Medtronic in the 4th quarter worth approximately $1,497,000. VELA Investment Management LLC increased its position in Medtronic by 14.5% in the fourth quarter. VELA Investment Management LLC now owns 40,401 shares of the medical technology company’s stock worth $3,328,000 after buying an additional 5,127 shares during the period. Finally, Capital Analysts LLC lifted its stake in Medtronic by 1.5% in the fourth quarter. Capital Analysts LLC now owns 89,394 shares of the medical technology company’s stock valued at $7,364,000 after buying an additional 1,337 shares during the last quarter. 82.06% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

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

Insider Buying and Selling

In other news, EVP Michael Marinaro sold 854 shares of the company’s stock in a transaction on Monday, April 8th. The stock was sold at an average price of $83.14, for a total transaction 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 $2,321,684.50. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. 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 transaction of $2,613,065.35. Following the sale, the executive vice president now owns 48,289 shares in the company, valued at $4,110,842.57. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Michael Marinaro sold 854 shares of the firm’s stock in a transaction that occurred on Monday, April 8th. The stock was sold at an average price of $83.14, for a total transaction of $71,001.56. Following the completion of the transaction, the executive vice president now directly owns 27,925 shares of the company’s stock, valued at approximately $2,321,684.50. The disclosure for this sale can be found here. Insiders own 0.30% of the company’s stock.

Medtronic Trading Down 1.2 %

Shares of MDT stock opened at $79.25 on Wednesday. The stock has a 50-day simple moving average of $84.35 and a 200 day simple moving average of $81.02. The stock has a market capitalization of $105.23 billion, a P/E ratio of 25.24, a P/E/G ratio of 2.74 and a beta of 0.76. Medtronic plc has a fifty-two week low of $68.84 and a fifty-two week high of $92.02. The company has a quick ratio of 1.71, a current ratio of 2.30 and a debt-to-equity ratio of 0.46.

Medtronic (NYSE:MDT) last posted its quarterly earnings data on Tuesday, February 20th. The medical technology company reported $1.30 earnings per share 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 company had revenue of $8.09 billion during the quarter, compared to analyst estimates of $7.95 billion. During the same quarter last year, the firm posted $1.30 EPS. The business’s revenue for the quarter was up 4.7% on a year-over-year basis. On average, sell-side analysts expect that Medtronic plc will post 5.2 earnings per share for the current fiscal year.

Medtronic Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, April 12th. Stockholders of record on Friday, March 22nd were given a dividend of $0.69 per share. 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 dividend payout ratio (DPR) is presently 87.90%.

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.