Geneos Wealth Management Inc. Sells 17,131 Shares of Medtronic plc (NYSE:MDT)

Geneos Wealth Management Inc. decreased its holdings in shares of Medtronic plc (NYSE:MDT - Free Report) by 22.3% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 59,534 shares of the medical technology company's stock after selling 17,131 shares during the period. Geneos Wealth Management Inc.'s holdings in Medtronic were worth $4,904,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in MDT. Hartford Financial Management Inc. boosted its position in shares of Medtronic by 425.0% during the 3rd quarter. Hartford Financial Management Inc. now owns 315 shares of the medical technology company's stock valued at $25,000 after purchasing an additional 255 shares in the last quarter. Fortitude Family Office LLC bought a new position in Medtronic in the fourth quarter worth approximately $25,000. Leith Wheeler Investment Counsel Ltd. boosted its holdings in Medtronic by 293.0% in the fourth quarter. Leith Wheeler Investment Counsel Ltd. now owns 316,643 shares of the medical technology company's stock worth $26,000 after acquiring an additional 236,064 shares in the last quarter. Financial Gravity Asset Management Inc. boosted its holdings in Medtronic by 317.0% in the third quarter. Financial Gravity Asset Management Inc. now owns 367 shares of the medical technology company's stock worth $29,000 after acquiring an additional 279 shares in the last quarter. Finally, Princeton Global Asset Management LLC bought a new position in Medtronic in the third quarter worth approximately $31,000. Institutional investors own 82.06% of the company's stock.

Medtronic Stock Performance

Shares of MDT traded up $0.89 on Tuesday, reaching $83.80. 5,592,632 shares of the company's stock traded hands, compared to its average volume of 6,300,547. The company has a current ratio of 2.30, a quick ratio of 1.71 and a debt-to-equity ratio of 0.46. The stock has a market cap of $111.27 billion, a PE ratio of 26.64, a PEG ratio of 2.89 and a beta of 0.76. The stock's 50 day simple moving average is $85.08 and its two-hundred day simple moving average is $80.93. Medtronic plc has a 52-week low of $68.84 and a 52-week high of $92.02.

Medtronic (NYSE:MDT - Get Free Report) last issued its quarterly earnings results on Tuesday, February 20th. The medical technology company reported $1.30 EPS for the quarter, beating analysts' consensus estimates of $1.26 by $0.04. The company had revenue of $8.09 billion during the quarter, compared to the consensus estimate of $7.95 billion. Medtronic had a return on equity of 13.71% and a net margin of 13.00%. Medtronic's revenue was up 4.7% on a year-over-year basis. During the same period last year, the business posted $1.30 earnings per share. On average, analysts forecast that Medtronic plc will post 5.2 earnings per share for the current fiscal year.

Medtronic Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, April 12th. Shareholders of record on Friday, March 22nd will be given a $0.69 dividend. This represents a $2.76 dividend on an annualized basis and a yield of 3.29%. The ex-dividend date of this dividend is Thursday, March 21st. Medtronic's dividend payout ratio is currently 87.90%.

Insiders Place Their Bets

In other Medtronic news, EVP Michael Marinaro sold 854 shares of the firm's 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 sale, the executive vice president now directly 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 Securities & Exchange Commission, which is accessible through this link. In other Medtronic news, EVP Michael Marinaro sold 854 shares of the firm's 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 sale, the executive vice president now directly 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 Securities & Exchange Commission, which is accessible through this link. Also, EVP Sean Salmon sold 30,695 shares of the firm's 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 sale, the executive vice president now directly owns 48,289 shares of the company's stock, valued at $4,110,842.57. The disclosure for this sale can be found here. Company insiders own 0.30% of the company's stock.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on MDT. Mizuho increased their price target on Medtronic from $95.00 to $98.00 and gave the stock a "buy" rating in a report on Wednesday, February 21st. Truist Financial increased their price target on Medtronic from $87.00 to $90.00 and gave the stock a "hold" rating in a report on Wednesday, February 21st. Oppenheimer increased their price target on Medtronic from $89.00 to $92.00 and gave the stock a "market perform" rating in a report on Wednesday, February 21st. Finally, Royal Bank of Canada reiterated a "sector perform" rating and issued a $92.00 price target on shares of Medtronic in a report on Wednesday, February 21st. One investment analyst has rated the stock with a sell rating, four have given a hold rating and seven have given a buy rating to the company. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and an average 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.

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