Medtronic plc (NYSE:MDT) Shares Sold by Financial Counselors Inc.

Financial Counselors Inc. lowered its holdings in Medtronic plc (NYSE:MDT - Free Report) by 6.3% in the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 194,999 shares of the medical technology company's stock after selling 13,167 shares during the period. Financial Counselors Inc.'s holdings in Medtronic were worth $16,064,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in the business. Morgan Stanley grew its holdings in shares of Medtronic by 9.2% in the third quarter. Morgan Stanley now owns 23,777,808 shares of the medical technology company's stock valued at $1,863,229,000 after purchasing an additional 1,994,123 shares in the last quarter. Bank of New York Mellon Corp grew its holdings in shares of Medtronic by 2.6% in the third quarter. Bank of New York Mellon Corp now owns 20,392,467 shares of the medical technology company's stock valued at $1,597,954,000 after purchasing an additional 508,205 shares in the last quarter. Moneta Group Investment Advisors LLC grew its holdings in shares of Medtronic by 127,655.1% in the fourth quarter. Moneta Group Investment Advisors LLC now owns 14,160,371 shares of the medical technology company's stock valued at $1,100,544,000 after purchasing an additional 14,149,287 shares in the last quarter. Norges Bank acquired a new position in Medtronic during the 4th quarter worth approximately $1,062,316,000. Finally, Northern Trust Corp grew 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 acquiring an additional 285,819 shares in the last quarter. Institutional investors and hedge funds own 82.06% of the company's stock.

Medtronic Stock Performance

MDT stock traded down $1.48 on Wednesday, hitting $82.32. The company's stock had a trading volume of 6,508,936 shares, compared to its average volume of 6,298,902. The firm has a 50 day moving average of $84.91 and a two-hundred day moving average of $80.96. Medtronic plc has a 1 year low of $68.84 and a 1 year high of $92.02. The stock has a market cap of $109.31 billion, a price-to-earnings ratio of 26.22, a price-to-earnings-growth ratio of 2.84 and a beta of 0.76. The company has a current ratio of 2.30, a quick ratio of 1.71 and a debt-to-equity ratio of 0.46.

Medtronic (NYSE:MDT - Get Free Report) last released its quarterly earnings results on Tuesday, February 20th. The medical technology company reported $1.30 EPS for the quarter, beating the consensus estimate of $1.26 by $0.04. Medtronic had a net margin of 13.00% and a return on equity of 13.71%. The firm had revenue of $8.09 billion during the quarter, compared to the consensus estimate of $7.95 billion. During the same quarter in the prior year, the firm earned $1.30 EPS. Medtronic'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 fiscal year.

Medtronic Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, April 12th. Investors of record on Friday, March 22nd will be given a $0.69 dividend. The ex-dividend date of this dividend is Thursday, March 21st. This represents a $2.76 annualized dividend and a yield of 3.35%. Medtronic's dividend payout ratio (DPR) is 87.90%.

Insiders Place Their Bets

In other Medtronic news, EVP Michael Marinaro sold 854 shares of the company's stock in a transaction on Monday, April 8th. The shares were sold at an average price of $83.14, for a total transaction of $71,001.56. Following the completion of the transaction, the executive vice president now owns 27,925 shares in the company, valued at approximately $2,321,684.50. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In other news, EVP Sean Salmon sold 30,695 shares of the company's stock in a transaction on Wednesday, February 21st. The shares were sold at an average price of $85.13, for a total transaction of $2,613,065.35. Following the transaction, the executive vice president now directly owns 48,289 shares of the company's stock, valued at approximately $4,110,842.57. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, EVP Michael Marinaro sold 854 shares of the company's stock in a transaction on Monday, April 8th. The stock was sold at an average price of $83.14, for a total transaction of $71,001.56. Following the transaction, the executive vice president now directly owns 27,925 shares in the company, valued at $2,321,684.50. The disclosure for this sale can be found here. 0.30% of the stock is owned by insiders.

Analysts Set New Price Targets

Several research analysts have commented on MDT shares. Truist Financial boosted their price target on shares of Medtronic from $87.00 to $90.00 and gave the stock a "hold" rating in a report on Wednesday, February 21st. Royal Bank of Canada reiterated a "sector perform" rating and set a $92.00 price target on shares of Medtronic in a report on Wednesday, February 21st. Oppenheimer boosted their price target on shares of Medtronic from $89.00 to $92.00 and gave the stock a "market perform" rating in a report on Wednesday, February 21st. Finally, Mizuho boosted their price target on shares of Medtronic from $95.00 to $98.00 and gave the stock a "buy" rating in a report on Wednesday, February 21st. One 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's stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $94.91.

About Medtronic

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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