Wolff Wiese Magana LLC Sells 1,224 Shares of Medtronic plc (NYSE:MDT)

Wolff Wiese Magana LLC reduced its stake in Medtronic plc (NYSE:MDT) by 6.9% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 16,522 shares of the medical technology company’s stock after selling 1,224 shares during the quarter. Medtronic comprises 1.3% of Wolff Wiese Magana LLC’s holdings, making the stock its 28th largest position. Wolff Wiese Magana LLC’s holdings in Medtronic were worth $1,361,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also recently bought and sold shares of the stock. Retirement Planning Group LLC grew its position in shares of Medtronic by 19.0% during the 4th quarter. Retirement Planning Group LLC now owns 3,653 shares of the medical technology company’s stock worth $301,000 after purchasing an additional 582 shares in the last quarter. Cooper Financial Group grew its position in shares of Medtronic by 26.5% during the 4th quarter. Cooper Financial Group now owns 7,832 shares of the medical technology company’s stock worth $645,000 after purchasing an additional 1,640 shares in the last quarter. Mutual Advisors LLC grew its position in shares of Medtronic by 15.5% during the 4th quarter. Mutual Advisors LLC now owns 32,187 shares of the medical technology company’s stock worth $2,652,000 after purchasing an additional 4,331 shares in the last quarter. FNY Investment Advisers LLC acquired a new position in shares of Medtronic during the 4th quarter worth approximately $131,000. Finally, Premier Path Wealth Partners LLC acquired a new position in shares of Medtronic during the 4th quarter worth approximately $1,142,000. 80.75% of the stock is owned by institutional investors.

Insider Activity

In other news, 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 transaction of $2,613,065.35. Following the completion of the transaction, the executive vice president now owns 48,289 shares of the company’s stock, valued at $4,110,842.57. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 0.30% of the company’s stock.

Analysts Set New Price Targets

MDT has been the topic of a number of analyst reports. Truist Financial increased their target price on shares of Medtronic from $87.00 to $90.00 and gave the stock a “hold” rating in a research report on Wednesday, February 21st. Mizuho increased their price target on shares of Medtronic from $95.00 to $98.00 and gave the stock a “buy” rating in a research report on Wednesday, February 21st. Oppenheimer increased their price target on shares of Medtronic from $89.00 to $92.00 and gave the stock a “market perform” rating in a research report on Wednesday, February 21st. Finally, Royal Bank of Canada reiterated a “sector perform” rating and set a $92.00 price target on shares of Medtronic in a research report on Wednesday, February 21st. One research analyst has rated the stock with a sell rating, four have given a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $94.91.

Medtronic Price Performance

Medtronic stock traded down $0.33 during mid-day trading on Friday, reaching $83.08. The company had a trading volume of 5,181,488 shares, compared to its average volume of 6,179,893. Medtronic plc has a fifty-two week low of $68.84 and a fifty-two week high of $92.02. The company has a current ratio of 2.30, a quick ratio of 1.71 and a debt-to-equity ratio of 0.46. The company has a market cap of $110.32 billion, a P/E ratio of 26.46, a P/E/G ratio of 2.85 and a beta of 0.76. The business has a fifty day simple moving average of $85.44 and a 200 day simple moving average of $80.62.

Medtronic (NYSE:MDT) last issued its earnings results 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. The firm had revenue of $8.09 billion for 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 company’s quarterly revenue was up 4.7% on a year-over-year basis. During the same quarter last year, the business posted $1.30 earnings per share. On average, equities research analysts predict that Medtronic plc will post 5.2 earnings per share for the current year.

Medtronic Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, April 12th. Stockholders of record on Friday, March 22nd will be paid a dividend of $0.69 per share. This represents a $2.76 annualized dividend and a dividend yield of 3.32%. The ex-dividend date of this dividend is Thursday, March 21st. Medtronic’s payout ratio is currently 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.