Legacy Capital Wealth Partners LLC Sells 3,671 Shares of Medtronic plc (NYSE:MDT)

Legacy Capital Wealth Partners LLC decreased its position in Medtronic plc (NYSE:MDT) by 22.0% during the 4th quarter, according to its most recent filing with the SEC. The institutional investor owned 13,026 shares of the medical technology company’s stock after selling 3,671 shares during the period. Legacy Capital Wealth Partners LLC’s holdings in Medtronic were worth $1,073,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds also recently made changes to their positions in MDT. Connecticut Wealth Management LLC increased its holdings in shares of Medtronic by 52.0% during the 3rd quarter. Connecticut Wealth Management LLC now owns 3,813 shares of the medical technology company’s stock worth $299,000 after acquiring an additional 1,305 shares during the last quarter. Ropes Wealth Advisors LLC grew its holdings in Medtronic by 21.4% in the 3rd quarter. Ropes Wealth Advisors LLC now owns 7,205 shares of the medical technology company’s stock valued at $565,000 after buying an additional 1,269 shares in the last quarter. U.S. Capital Wealth Advisors LLC grew its holdings in Medtronic by 17.7% in the 3rd quarter. U.S. Capital Wealth Advisors LLC now owns 64,496 shares of the medical technology company’s stock valued at $5,054,000 after buying an additional 9,694 shares in the last quarter. Valeo Financial Advisors LLC grew its holdings in shares of Medtronic by 5.7% during the 3rd quarter. Valeo Financial Advisors LLC now owns 23,604 shares of the medical technology company’s stock worth $1,850,000 after purchasing an additional 1,278 shares in the last quarter. Finally, Manning & Napier Group LLC grew its holdings in shares of Medtronic by 0.3% during the 3rd quarter. Manning & Napier Group LLC now owns 2,319,830 shares of the medical technology company’s stock worth $181,782,000 after purchasing an additional 6,497 shares in the last quarter. Institutional investors own 82.06% of the company’s stock.

Analysts Set New Price Targets

MDT has been the subject of several recent research reports. Royal Bank of Canada reissued a “sector perform” rating and issued a $92.00 price target 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 stock a “hold” rating in a research note on Wednesday, February 21st. Oppenheimer raised their target price on Medtronic from $89.00 to $92.00 and gave the stock a “market perform” 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 stock a “buy” rating in a research note on Wednesday, February 21st. One analyst has rated the stock with a sell rating, four have assigned a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $94.91.

Medtronic Stock Up 0.6 %

Shares of MDT stock traded up $0.49 during trading hours on Friday, reaching $79.74. The company had a trading volume of 5,024,880 shares, compared to its average volume of 5,781,218. Medtronic plc has a 12 month low of $68.84 and a 12 month high of $92.02. The company has a debt-to-equity ratio of 0.46, a current ratio of 2.30 and a quick ratio of 1.71. The business has a fifty day simple moving average of $83.53 and a 200-day simple moving average of $81.19. The company has a market cap of $105.88 billion, a price-to-earnings ratio of 25.39, a price-to-earnings-growth ratio of 2.73 and a beta of 0.76.

Medtronic (NYSE:MDT) last posted 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. Medtronic had a return on equity of 13.71% and a net margin of 13.00%. The company had revenue of $8.09 billion for the quarter, compared to analyst estimates of $7.95 billion. During the same quarter last year, the company earned $1.30 earnings per share. The company’s revenue for the quarter was up 4.7% on a year-over-year basis. On average, research analysts expect that Medtronic plc will post 5.2 earnings per share for the current fiscal year.

Medtronic Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, April 12th. Investors of record on Friday, March 22nd were issued a dividend of $0.69 per share. The ex-dividend date was Thursday, March 21st. This represents a $2.76 dividend on an annualized basis and a yield of 3.46%. Medtronic’s dividend payout ratio (DPR) is currently 87.90%.

Insider Buying and Selling

In related news, EVP Michael Marinaro sold 854 shares of Medtronic 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 sale, the executive vice president now directly owns 27,925 shares in the company, valued at $2,321,684.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Medtronic news, EVP Sean Salmon sold 30,695 shares of the business’s stock in a transaction on Wednesday, February 21st. The stock was sold at an average price of $85.13, for a total value of $2,613,065.35. Following the sale, the executive vice president now directly owns 48,289 shares in the company, valued at $4,110,842.57. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, EVP Michael Marinaro sold 854 shares of the business’s stock in a transaction on Monday, April 8th. The shares were 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 in the company, valued at $2,321,684.50. The disclosure for this sale can be found here. 0.30% of the stock is currently owned by corporate insiders.

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.