Medtronic plc (NYSE:MDT) Shares Sold by People s United Financial Inc.

People s United Financial Inc. lessened its holdings in shares of Medtronic plc (NYSE:MDTGet Rating) by 8.3% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 61,792 shares of the medical technology company’s stock after selling 5,602 shares during the quarter. People s United Financial Inc.’s holdings in Medtronic were worth $6,392,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in MDT. Dixon Hughes Goodman Wealth Advisors LLC acquired a new position in shares of Medtronic during the 4th quarter valued at about $25,000. PYA Waltman Capital LLC acquired a new position in shares of Medtronic during the 4th quarter valued at about $25,000. Horan Securities Inc. acquired a new position in shares of Medtronic during the 4th quarter valued at about $25,000. Ibex Wealth Advisors acquired a new position in shares of Medtronic during the 3rd quarter valued at about $26,000. Finally, MD Financial Management Inc. boosted its position in shares of Medtronic by 100.0% during the 3rd quarter. MD Financial Management Inc. now owns 210 shares of the medical technology company’s stock valued at $26,000 after acquiring an additional 105 shares during the last quarter. 80.23% of the stock is currently owned by institutional investors.

Several research analysts have recently weighed in on MDT shares. Cowen set a $125.00 price target on shares of Medtronic and gave the company an “outperform” rating in a research report on Monday. Sanford C. Bernstein reaffirmed a “buy” rating and issued a $122.00 target price on shares of Medtronic in a research report on Friday. Piper Sandler decreased their target price on shares of Medtronic from $110.00 to $105.00 and set a “neutral” rating on the stock in a research report on Wednesday, February 16th. Needham & Company LLC decreased their target price on shares of Medtronic from $128.00 to $124.00 and set a “buy” rating on the stock in a research report on Wednesday, February 23rd. Finally, Cowen upped their target price on shares of Medtronic to $125.00 in a research report on Monday. Eleven investment analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Buy” and a consensus target price of $127.29.

Medtronic stock traded up $0.35 during mid-day trading on Tuesday, hitting $104.61. The company had a trading volume of 40,331 shares, compared to its average volume of 6,193,718. The stock has a market cap of $140.34 billion, a price-to-earnings ratio of 28.72, a PEG ratio of 2.34 and a beta of 0.74. Medtronic plc has a 1 year low of $98.38 and a 1 year high of $135.89. The company has a quick ratio of 2.10, a current ratio of 2.61 and a debt-to-equity ratio of 0.46. The business has a fifty day moving average of $107.52 and a 200 day moving average of $107.49.

Medtronic (NYSE:MDTGet Rating) last announced its quarterly earnings results on Tuesday, February 22nd. The medical technology company reported $1.37 EPS for the quarter, beating the consensus estimate of $1.36 by $0.01. The company had revenue of $7.76 billion for the quarter, compared to analyst estimates of $7.91 billion. Medtronic had a net margin of 15.46% and a return on equity of 14.57%. The firm’s revenue was down .2% on a year-over-year basis. During the same period in the prior year, the firm posted $1.29 earnings per share. Equities analysts anticipate that Medtronic plc will post 5.66 earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which was paid on Friday, April 22nd. Stockholders of record on Friday, March 25th were issued a $0.63 dividend. This represents a $2.52 annualized dividend and a dividend yield of 2.41%. The ex-dividend date was Thursday, March 24th. Medtronic’s payout ratio is currently 69.42%.

In other Medtronic news, CFO Karen L. Parkhill sold 682 shares of the stock in a transaction on Friday, March 18th. The stock was sold at an average price of $110.00, for a total value of $75,020.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Carol A. Surface sold 6,000 shares of the stock in a transaction on Friday, March 11th. The stock was sold at an average price of $105.30, for a total value of $631,800.00. The disclosure for this sale can be found here. 0.47% of the stock is owned by company insiders.

Medtronic Company Profile (Get Rating)

Medtronic plc develops, manufactures, distributes, and sells device-based medical therapies to hospitals, physicians, clinicians, and patients worldwide. It operates through four segments: Cardiovascular Portfolio, Neuroscience Portfolio, Medical Surgical Portfolio, and Diabetes Operating Unit. The Cardiovascular Portfolio segment offers implantable cardiac pacemakers, cardioverter defibrillators, and cardiac resynchronization therapy devices; AF ablation products; insertable cardiac monitor systems; mechanical circulatory support; TYRX products; and remote monitoring and patient-centered software.

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Institutional Ownership by Quarter for Medtronic (NYSE:MDT)

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