Medtronic plc (NYSE:MDT) Shares Sold by Schaper Benz & Wise Investment Counsel Inc. WI

Schaper Benz & Wise Investment Counsel Inc. WI lowered its holdings in Medtronic plc (NYSE:MDT - Free Report) by 17.8% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 103,995 shares of the medical technology company's stock after selling 22,551 shares during the quarter. Schaper Benz & Wise Investment Counsel Inc. WI's holdings in Medtronic were worth $9,345,000 at the end of the most recent reporting period.

Other hedge funds have also recently modified their holdings of the company. Brighton Jones LLC raised its position in shares of Medtronic by 1,368.0% in the 4th quarter. Brighton Jones LLC now owns 39,989 shares of the medical technology company's stock worth $3,194,000 after acquiring an additional 37,265 shares in the last quarter. Principal Securities Inc. grew its stake in Medtronic by 24.5% in the fourth quarter. Principal Securities Inc. now owns 59,314 shares of the medical technology company's stock valued at $4,738,000 after purchasing an additional 11,658 shares during the last quarter. Allworth Financial LP raised its holdings in Medtronic by 42.5% in the fourth quarter. Allworth Financial LP now owns 40,408 shares of the medical technology company's stock worth $3,549,000 after purchasing an additional 12,055 shares in the last quarter. Csenge Advisory Group lifted its position in shares of Medtronic by 54.2% during the fourth quarter. Csenge Advisory Group now owns 12,854 shares of the medical technology company's stock valued at $1,027,000 after buying an additional 4,517 shares during the last quarter. Finally, J.W. Cole Advisors Inc. boosted its holdings in shares of Medtronic by 3.5% in the 4th quarter. J.W. Cole Advisors Inc. now owns 9,778 shares of the medical technology company's stock valued at $781,000 after buying an additional 328 shares in the last quarter. Hedge funds and other institutional investors own 82.06% of the company's stock.

Medtronic Stock Performance

Shares of MDT stock traded down $1.73 during trading hours on Tuesday, hitting $86.19. The company's stock had a trading volume of 6,938,434 shares, compared to its average volume of 6,892,356. The stock has a market cap of $110.54 billion, a PE ratio of 26.20, a price-to-earnings-growth ratio of 2.22 and a beta of 0.79. Medtronic plc has a 12-month low of $75.96 and a 12-month high of $96.25. The company has a 50 day moving average of $84.33 and a 200 day moving average of $86.27. The company has a current ratio of 1.90, a quick ratio of 1.39 and a debt-to-equity ratio of 0.48.

Medtronic (NYSE:MDT - Get Free Report) last announced its quarterly earnings results on Wednesday, May 21st. The medical technology company reported $1.62 earnings per share for the quarter, topping the consensus estimate of $1.58 by $0.04. The company had revenue of $8.93 billion for the quarter, compared to the consensus estimate of $8.81 billion. Medtronic had a return on equity of 14.07% and a net margin of 12.83%. The firm's revenue for the quarter was up 3.9% compared to the same quarter last year. During the same period last year, the firm earned $1.46 EPS. On average, sell-side analysts forecast that Medtronic plc will post 5.46 EPS for the current fiscal 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. This represents a $2.84 annualized dividend and a yield of 3.30%. The ex-dividend date is Friday, June 27th. This is a positive change from Medtronic's previous quarterly dividend of $0.70. Medtronic's dividend payout ratio is currently 78.45%.

Analysts Set New Price Targets

Several research analysts recently commented on MDT shares. Royal Bank of Canada reduced their price objective on shares of Medtronic from $105.00 to $101.00 and set an "outperform" rating for the company in a research note on Thursday, May 22nd. Leerink Partnrs upgraded Medtronic to a "strong-buy" rating in a report on Monday. UBS Group raised their price objective on Medtronic from $85.00 to $95.00 and gave the stock a "neutral" rating in a research report on Wednesday, February 19th. Truist Financial dropped their target price on Medtronic from $93.00 to $90.00 and set a "hold" rating on the stock in a research note on Friday, April 11th. Finally, Leerink Partners started coverage on Medtronic in a report on Monday. They issued an "outperform" rating and a $110.00 price target for the company. Nine investment analysts have rated the stock with a hold rating, eight have given a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $97.87.

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.