Medtronic plc (NYSE:MDT) Shares Sold by Drucker Wealth 3.0 LLC

Drucker Wealth 3.0 LLC cut its holdings in Medtronic plc (NYSE:MDT - Free Report) by 16.3% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 39,612 shares of the medical technology company's stock after selling 7,740 shares during the quarter. Drucker Wealth 3.0 LLC's holdings in Medtronic were worth $3,164,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Mainstream Capital Management LLC purchased a new stake in shares of Medtronic in the fourth quarter valued at about $26,000. Rakuten Securities Inc. lifted its position in Medtronic by 753.8% in the fourth quarter. Rakuten Securities Inc. now owns 333 shares of the medical technology company's stock valued at $27,000 after purchasing an additional 294 shares during the period. Stephens Consulting LLC lifted its position in Medtronic by 145.7% in the fourth quarter. Stephens Consulting LLC now owns 344 shares of the medical technology company's stock valued at $27,000 after purchasing an additional 204 shares during the period. Optiver Holding B.V. purchased a new stake in Medtronic in the 4th quarter valued at approximately $31,000. Finally, McIlrath & Eck LLC increased its position in Medtronic by 72.3% during the 4th quarter. McIlrath & Eck LLC now owns 410 shares of the medical technology company's stock worth $33,000 after purchasing an additional 172 shares during the period. 82.06% of the stock is owned by hedge funds and other institutional investors.

Medtronic Trading Up 0.6%

NYSE MDT traded up $0.46 during mid-day trading on Tuesday, hitting $81.14. The company's stock had a trading volume of 8,294,287 shares, compared to its average volume of 6,817,710. The firm has a market capitalization of $104.07 billion, a P/E ratio of 24.66, a price-to-earnings-growth ratio of 2.22 and a beta of 0.81. The company has a debt-to-equity ratio of 0.48, a current ratio of 1.90 and a quick ratio of 1.39. Medtronic plc has a 52-week low of $75.96 and a 52-week high of $96.25. The stock's fifty day simple moving average is $84.84 and its two-hundred day simple moving average is $86.35.

Medtronic (NYSE:MDT - Get Free Report) last released its quarterly earnings data on Wednesday, May 21st. The medical technology company reported $1.62 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.58 by $0.04. The company had revenue of $8.93 billion during the quarter, compared to analyst estimates of $8.81 billion. Medtronic had a net margin of 12.83% and a return on equity of 14.07%. The business's quarterly revenue was up 3.9% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.46 earnings per share. Research analysts expect that Medtronic plc will post 5.46 EPS for the current year.

Medtronic Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, July 11th. Shareholders of record on Friday, June 27th will be given a $0.71 dividend. The ex-dividend date is Friday, June 27th. This is a positive change from Medtronic's previous quarterly dividend of $0.70. This represents a $2.84 annualized dividend and a yield of 3.50%. Medtronic's dividend payout ratio (DPR) is 78.45%.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on the company. Truist Financial reduced their price target on Medtronic from $93.00 to $90.00 and set a "hold" rating for the company in a report on Friday, April 11th. Needham & Company LLC reissued a "hold" rating on shares of Medtronic in a report on Monday, May 19th. Robert W. Baird decreased their target price on shares of Medtronic from $94.00 to $92.00 and set a "neutral" rating on the stock in a research report on Thursday, May 22nd. Citigroup upgraded shares of Medtronic from a "neutral" rating to a "buy" rating and increased their price target for the company from $92.00 to $107.00 in a report on Tuesday, March 4th. Finally, UBS Group boosted their price objective on shares of Medtronic from $85.00 to $95.00 and gave the stock a "neutral" rating in a report on Wednesday, February 19th. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, Medtronic currently has a consensus rating of "Hold" and a consensus target price of $96.07.

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.