New England Capital Financial Advisors LLC Sells 166 Shares of Medtronic plc (NYSE:MDT)

New England Capital Financial Advisors LLC reduced its position in Medtronic plc (NYSE:MDT) by 11.3% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 1,298 shares of the medical technology company’s stock after selling 166 shares during the quarter. New England Capital Financial Advisors LLC’s holdings in Medtronic were worth $107,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Fortitude Family Office LLC bought a new position in shares of Medtronic during the fourth quarter valued at $25,000. Hartford Financial Management Inc. lifted its holdings in shares of Medtronic by 425.0% during the third quarter. Hartford Financial Management Inc. now owns 315 shares of the medical technology company’s stock valued at $25,000 after acquiring an additional 255 shares during the period. Financial Gravity Asset Management Inc. lifted its holdings in shares of Medtronic by 317.0% during the third quarter. Financial Gravity Asset Management Inc. now owns 367 shares of the medical technology company’s stock valued at $29,000 after acquiring an additional 279 shares during the period. Princeton Global Asset Management LLC bought a new position in shares of Medtronic during the third quarter valued at $31,000. Finally, SJS Investment Consulting Inc. lifted its holdings in shares of Medtronic by 96.4% during the third quarter. SJS Investment Consulting Inc. now owns 485 shares of the medical technology company’s stock valued at $38,000 after acquiring an additional 238 shares during the period. 82.06% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other Medtronic news, EVP Michael Marinaro sold 854 shares of the firm’s stock in a transaction dated Monday, April 8th. The stock was sold at an average price of $83.14, for a total transaction of $71,001.56. Following the transaction, the executive vice president now owns 27,925 shares in the company, valued at $2,321,684.50. The sale was disclosed in a document filed with the SEC, which is available through this link. In other Medtronic news, EVP Michael Marinaro sold 854 shares of the firm’s stock in a transaction dated Monday, April 8th. The stock was sold at an average price of $83.14, for a total transaction of $71,001.56. Following the transaction, the executive vice president now owns 27,925 shares in the company, valued at $2,321,684.50. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, EVP Sean Salmon sold 30,695 shares of Medtronic stock in a transaction dated 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 transaction, the executive vice president now owns 48,289 shares in the company, valued at approximately $4,110,842.57. The disclosure for this sale can be found here. Company insiders own 0.30% of the company’s stock.

Medtronic Trading Up 0.9 %

MDT stock traded up $0.71 during midday trading on Tuesday, reaching $81.28. The stock had a trading volume of 5,296,122 shares, compared to its average volume of 6,290,356. The business has a fifty day simple moving average of $83.80 and a two-hundred day simple moving average of $81.14. 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 firm has a market cap of $107.93 billion, a price-to-earnings ratio of 25.89, a PEG ratio of 2.72 and a beta of 0.76. Medtronic plc has a twelve month low of $68.84 and a twelve month high of $92.02.

Medtronic (NYSE:MDT) last announced its quarterly earnings data on Tuesday, February 20th. The medical technology company reported $1.30 EPS 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 return on equity of 13.71% and a net margin of 13.00%. The company’s revenue was up 4.7% on a year-over-year basis. During the same period last year, the company earned $1.30 earnings per share. As a group, research analysts expect that Medtronic plc will post 5.2 EPS for the current fiscal year.

Medtronic Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, April 12th. Shareholders of record on Friday, March 22nd were issued a dividend of $0.69 per share. This represents a $2.76 dividend on an annualized basis and a yield of 3.40%. The ex-dividend date of this dividend was Thursday, March 21st. Medtronic’s dividend payout ratio (DPR) is currently 87.90%.

Wall Street Analysts Forecast Growth

MDT has been the subject of a number of research reports. Oppenheimer raised their target price on Medtronic from $89.00 to $92.00 and gave the company a “market perform” rating in a research note on Wednesday, February 21st. Royal Bank of Canada restated a “sector perform” rating and issued a $92.00 target price on shares of Medtronic in a research note on Wednesday, February 21st. Truist Financial raised 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, Mizuho raised their target price on Medtronic from $95.00 to $98.00 and gave the company a “buy” rating in a research note on Wednesday, February 21st. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $94.91.

Medtronic 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.