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

Drucker Wealth 3.0 LLC decreased its position in shares of Medtronic plc (NYSE:MDT - Free Report) by 16.3% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund 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 Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently modified their holdings of the company. Vanguard Group Inc. boosted its position in shares of Medtronic by 0.6% during the 4th quarter. Vanguard Group Inc. now owns 124,203,387 shares of the medical technology company's stock valued at $9,921,367,000 after acquiring an additional 754,395 shares during the last quarter. Capital Research Global Investors boosted its stake in Medtronic by 1.8% during the fourth quarter. Capital Research Global Investors now owns 33,203,685 shares of the medical technology company's stock worth $2,652,310,000 after buying an additional 571,700 shares during the period. Geode Capital Management LLC boosted its stake in Medtronic by 2.2% during the fourth quarter. Geode Capital Management LLC now owns 27,056,217 shares of the medical technology company's stock worth $2,155,085,000 after buying an additional 574,055 shares during the period. Deutsche Bank AG boosted its stake in Medtronic by 2.1% during the fourth quarter. Deutsche Bank AG now owns 18,443,640 shares of the medical technology company's stock worth $1,473,278,000 after buying an additional 372,168 shares during the period. Finally, Invesco Ltd. boosted its stake in Medtronic by 17.8% during the fourth quarter. Invesco Ltd. now owns 15,445,284 shares of the medical technology company's stock worth $1,233,769,000 after buying an additional 2,333,600 shares during the period. Institutional investors and hedge funds own 82.06% of the company's stock.

Analyst Ratings Changes

MDT has been the subject of several research analyst reports. UBS Group increased their target price on shares of Medtronic from $85.00 to $95.00 and gave the stock a "neutral" rating in a research note on Wednesday, February 19th. Citigroup raised Medtronic from a "neutral" rating to a "buy" rating and boosted their target price for the company from $92.00 to $107.00 in a research report on Tuesday, March 4th. Mizuho cut their target price on Medtronic from $100.00 to $98.00 and set an "outperform" rating on the stock in a research report on Thursday, May 22nd. Robert W. Baird cut their target price on Medtronic from $94.00 to $92.00 and set a "neutral" rating on the stock in a research report on Thursday, May 22nd. Finally, Truist Financial cut their target price on Medtronic from $93.00 to $90.00 and set a "hold" rating on the stock in a research report on Friday, April 11th. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of "Hold" and an average target price of $96.07.

Medtronic Stock Up 0.1%

Shares of MDT stock traded up $0.08 during trading hours on Wednesday, reaching $81.26. 7,514,297 shares of the stock were exchanged, compared to its average volume of 6,820,486. The business's fifty day moving average is $84.64 and its two-hundred day moving average is $86.31. 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 12-month low of $75.96 and a 12-month high of $96.25. The firm has a market capitalization of $104.22 billion, a P/E ratio of 24.70, a P/E/G ratio of 2.22 and a beta of 0.81.

Medtronic (NYSE:MDT - Get Free Report) last released its earnings results on Wednesday, May 21st. The medical technology company reported $1.62 earnings per share for the quarter, topping analysts' consensus estimates of $1.58 by $0.04. The firm had revenue of $8.93 billion for 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 period in the prior year, the firm earned $1.46 earnings per share. As a group, research analysts expect that Medtronic plc will post 5.46 EPS for the current fiscal year.

Medtronic Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, July 11th. Stockholders of record on Friday, June 27th will be issued a $0.71 dividend. This is an increase from Medtronic's previous quarterly dividend of $0.70. This represents a $2.84 annualized dividend and a dividend yield of 3.49%. The ex-dividend date is Friday, June 27th. Medtronic's dividend payout ratio is presently 78.45%.

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.