Medtronic plc (NYSE:MDT) Shares Sold by Bogart Wealth LLC

Bogart Wealth LLC cut its stake in shares of Medtronic plc (NYSE:MDT) by 1.0% during the 4th quarter, HoldingsChannel.com reports. The fund owned 62,224 shares of the medical technology company’s stock after selling 649 shares during the period. Bogart Wealth LLC’s holdings in Medtronic were worth $5,126,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Morgan Stanley lifted its position in Medtronic by 9.2% during the 3rd quarter. Morgan Stanley now owns 23,777,808 shares of the medical technology company’s stock worth $1,863,229,000 after acquiring an additional 1,994,123 shares in the last quarter. Northern Trust Corp increased its holdings in Medtronic by 2.1% during the 3rd quarter. Northern Trust Corp now owns 13,622,933 shares of the medical technology company’s stock worth $1,067,493,000 after purchasing an additional 285,819 shares during the last quarter. Charles Schwab Investment Management Inc. increased its holdings in Medtronic by 0.9% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 11,089,400 shares of the medical technology company’s stock worth $893,352,000 after purchasing an additional 101,111 shares during the last quarter. American Century Companies Inc. increased its holdings in Medtronic by 6.7% during the 3rd quarter. American Century Companies Inc. now owns 10,297,135 shares of the medical technology company’s stock worth $806,883,000 after purchasing an additional 649,367 shares during the last quarter. Finally, First Eagle Investment Management LLC increased its holdings in Medtronic by 10.8% during the 3rd quarter. First Eagle Investment Management LLC now owns 6,088,880 shares of the medical technology company’s stock worth $477,125,000 after purchasing an additional 592,849 shares during the last quarter. 82.06% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Medtronic

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

Wall Street Analysts Forecast Growth

MDT has been the topic of several analyst reports. Mizuho lifted their price objective on Medtronic from $95.00 to $98.00 and gave the stock a “buy” rating in a report on Wednesday, February 21st. Truist Financial lifted their price objective on Medtronic from $87.00 to $90.00 and gave the stock a “hold” rating in a report on Wednesday, February 21st. Oppenheimer upped their price target on Medtronic from $89.00 to $92.00 and gave the company a “market perform” rating in a research report on Wednesday, February 21st. Finally, Royal Bank of Canada reissued a “sector perform” rating and set a $92.00 price target on shares of Medtronic in a research report on Wednesday, February 21st. One analyst has rated the stock with a sell rating, four have issued a hold rating and six have assigned a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $94.91.

Medtronic Stock Performance

NYSE MDT traded down $0.34 during trading hours on Wednesday, hitting $81.56. The company had a trading volume of 4,175,553 shares, compared to its average volume of 6,162,365. Medtronic plc has a fifty-two week low of $68.84 and a fifty-two week high of $91.00. 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 business has a fifty day simple moving average of $83.01 and a 200-day simple moving average of $81.69. The firm has a market cap of $108.29 billion, a P/E ratio of 25.97, a price-to-earnings-growth ratio of 2.66 and a beta of 0.78.

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 the consensus estimate of $1.26 by $0.04. Medtronic had a return on equity of 13.71% and a net margin of 13.00%. The firm had revenue of $8.09 billion for the quarter, compared to analyst estimates of $7.95 billion. During the same period last year, the company earned $1.30 earnings per share. The firm’s revenue for the quarter was up 4.7% on a year-over-year basis. Equities analysts predict that Medtronic plc will post 5.2 EPS for the current 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 paid a $0.69 dividend. The ex-dividend date was Thursday, March 21st. This represents a $2.76 annualized dividend and a dividend yield of 3.38%. Medtronic’s payout ratio is 87.90%.

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.