Medtronic plc (NYSE:MDT) Shares Sold by Amalgamated Bank

Amalgamated Bank reduced its position in Medtronic plc (NYSE:MDT) by 4.6% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 322,905 shares of the medical technology company’s stock after selling 15,535 shares during the period. Amalgamated Bank’s holdings in Medtronic were worth $26,601,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Marino Stram & Associates LLC increased its position in Medtronic by 1.8% in the 4th quarter. Marino Stram & Associates LLC now owns 7,127 shares of the medical technology company’s stock valued at $587,000 after acquiring an additional 126 shares during the period. Rogco LP lifted its stake in shares of Medtronic by 1.9% in the 4th quarter. Rogco LP now owns 6,814 shares of the medical technology company’s stock worth $561,000 after acquiring an additional 129 shares during the period. Modera Wealth Management LLC raised its holdings in Medtronic by 3.9% during the third quarter. Modera Wealth Management LLC now owns 3,537 shares of the medical technology company’s stock worth $277,000 after purchasing an additional 133 shares in the last quarter. jvl associates llc lifted its position in Medtronic by 3.8% in the fourth quarter. jvl associates llc now owns 3,840 shares of the medical technology company’s stock valued at $316,000 after purchasing an additional 139 shares during the period. Finally, Dfpg Investments LLC raised its stake in shares of Medtronic by 0.3% during the 4th quarter. Dfpg Investments LLC now owns 53,045 shares of the medical technology company’s stock worth $4,413,000 after buying an additional 142 shares in the last quarter. 82.06% of the stock is currently owned by hedge funds and other institutional investors.

Medtronic Stock Up 0.0 %

MDT traded up $0.03 on Thursday, reaching $80.92. The company’s stock had a trading volume of 6,220,884 shares, compared to its average volume of 6,241,713. Medtronic plc has a 1 year low of $68.84 and a 1 year 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 stock has a market cap of $107.45 billion, a price-to-earnings ratio of 25.77, a price-to-earnings-growth ratio of 2.75 and a beta of 0.78. The business’s 50 day moving average is $83.25 and its 200 day moving average is $81.37.

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, topping analysts’ consensus estimates of $1.26 by $0.04. The company had revenue of $8.09 billion for the quarter, compared to analysts’ expectations of $7.95 billion. Medtronic had a net margin of 13.00% and a return on equity of 13.71%. The firm’s revenue was up 4.7% compared to the same quarter last year. During the same period in the prior year, the company earned $1.30 earnings per share. As a group, research analysts forecast that Medtronic plc will post 5.2 EPS for the current fiscal year.

Medtronic Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, April 12th. Stockholders of record on Friday, March 22nd were issued a dividend of $0.69 per share. The ex-dividend date of this dividend was Thursday, March 21st. This represents a $2.76 dividend on an annualized basis and a dividend yield of 3.41%. Medtronic’s dividend payout ratio (DPR) is presently 87.90%.

Insider Transactions at Medtronic

In other Medtronic news, EVP Michael Marinaro sold 854 shares of the business’s 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 completion of the transaction, the executive vice president now owns 27,925 shares in the company, valued at approximately $2,321,684.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Medtronic news, EVP Sean Salmon sold 30,695 shares of Medtronic stock in a transaction that occurred 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 in the company, valued at $4,110,842.57. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Michael Marinaro sold 854 shares of the stock in a transaction dated Monday, April 8th. The shares were sold at an average price of $83.14, for a total value of $71,001.56. Following the transaction, the executive vice president now directly owns 27,925 shares in the company, valued at approximately $2,321,684.50. The disclosure for this sale can be found here. Insiders own 0.30% of the company’s stock.

Analyst Ratings Changes

A number of research analysts recently weighed in on MDT shares. Oppenheimer upped their price objective on Medtronic from $89.00 to $92.00 and gave the stock a “market perform” rating in a report on Wednesday, February 21st. Truist Financial increased their price target on shares of Medtronic from $87.00 to $90.00 and gave the company a “hold” rating in a report on Wednesday, February 21st. Mizuho boosted their price target on Medtronic from $95.00 to $98.00 and gave the stock a “buy” rating in a research note on Wednesday, February 21st. Finally, Royal Bank of Canada reiterated a “sector perform” rating and set a $92.00 target price 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 issued a hold rating and six have given a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price 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.