Auxano Advisors LLC Lowers Stock Position in Medtronic plc (NYSE:MDT)

Auxano Advisors LLC lessened its stake in shares of Medtronic plc (NYSE:MDT) by 3.7% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 11,716 shares of the medical technology company’s stock after selling 455 shares during the quarter. Auxano Advisors LLC’s holdings in Medtronic were worth $965,000 as of its most recent SEC filing.

Several other hedge funds also recently bought and sold shares of MDT. Brookstone Capital Management lifted its position in shares of Medtronic by 17.7% during the third quarter. Brookstone Capital Management now owns 74,541 shares of the medical technology company’s stock worth $5,393,000 after purchasing an additional 11,230 shares in the last quarter. Commonwealth Equity Services LLC raised its holdings in Medtronic by 7.0% in the third quarter. Commonwealth Equity Services LLC now owns 737,937 shares of the medical technology company’s stock valued at $57,825,000 after acquiring an additional 48,071 shares in the last quarter. Sheets Smith Wealth Management raised its holdings in Medtronic by 21.9% in the third quarter. Sheets Smith Wealth Management now owns 4,053 shares of the medical technology company’s stock valued at $318,000 after acquiring an additional 728 shares in the last quarter. Accurate Wealth Management LLC raised its holdings in Medtronic by 9.9% in the third quarter. Accurate Wealth Management LLC now owns 4,583 shares of the medical technology company’s stock valued at $334,000 after acquiring an additional 413 shares in the last quarter. Finally, Colton Groome Financial Advisors LLC raised its holdings in Medtronic by 28.2% in the third quarter. Colton Groome Financial Advisors LLC now owns 12,656 shares of the medical technology company’s stock valued at $992,000 after acquiring an additional 2,786 shares in the last quarter. Hedge funds and other institutional investors own 82.06% of the company’s stock.

Insider Activity at Medtronic

In other Medtronic news, EVP Michael Marinaro sold 854 shares of the firm’s stock in a transaction on 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 owns 27,925 shares of the company’s stock, valued at $2,321,684.50. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. In other Medtronic news, EVP Michael Marinaro sold 854 shares of the firm’s stock in a transaction on 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 owns 27,925 shares of the company’s stock, valued at $2,321,684.50. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, EVP Sean Salmon sold 30,695 shares of the firm’s stock in a transaction 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 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 disclosure for this sale can be found here. 0.30% of the stock is currently owned by insiders.

Medtronic Stock Performance

NYSE:MDT traded down $0.62 during midday trading on Tuesday, reaching $80.24. The stock had a trading volume of 6,223,571 shares, compared to its average volume of 6,242,646. The firm has a fifty day simple moving average of $83.46 and a two-hundred day simple moving average of $81.32. Medtronic plc has a 12-month low of $68.84 and a 12-month 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. The stock has a market cap of $106.54 billion, a P/E ratio of 25.59, a P/E/G ratio of 2.73 and a beta of 0.76.

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 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 last year, the firm posted $1.30 EPS. Medtronic’s quarterly revenue was up 4.7% on a year-over-year basis. On average, equities analysts expect that Medtronic plc will post 5.2 EPS for the current year.

Medtronic Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, April 12th. Investors of record on Friday, March 22nd were given a $0.69 dividend. The ex-dividend date was Thursday, March 21st. This represents a $2.76 dividend on an annualized basis and a yield of 3.44%. Medtronic’s dividend payout ratio (DPR) is 87.90%.

Analysts Set New Price Targets

Several brokerages recently weighed in on MDT. Mizuho raised their target price on shares of Medtronic from $95.00 to $98.00 and gave the company a “buy” rating in a report on Wednesday, February 21st. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $92.00 target price on shares of Medtronic in a report on Wednesday, February 21st. 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. Finally, Oppenheimer raised their target price 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. One analyst has rated the stock with a sell rating, four have issued a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat.com, Medtronic has a consensus rating of “Hold” and a consensus price target of $94.91.

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.