Calamos Advisors LLC Sells 45,650 Shares of Medtronic plc (NYSE:MDT)

Calamos Advisors LLC reduced its stake in Medtronic plc (NYSE:MDT - Free Report) by 7.4% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 568,194 shares of the medical technology company's stock after selling 45,650 shares during the period. Calamos Advisors LLC's holdings in Medtronic were worth $46,808,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also modified their holdings of MDT. Morgan Stanley lifted its position in Medtronic by 9.2% during the third quarter. Morgan Stanley now owns 23,777,808 shares of the medical technology company's stock worth $1,863,229,000 after purchasing an additional 1,994,123 shares during the period. Bank of New York Mellon Corp lifted 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 worth $1,597,954,000 after acquiring an additional 508,205 shares during the last quarter. Moneta Group Investment Advisors LLC lifted 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 worth $1,100,544,000 after acquiring an additional 14,149,287 shares during the last quarter. Norges Bank bought a new position in shares of Medtronic in the fourth quarter worth about $1,062,316,000. Finally, Northern Trust Corp lifted its holdings in shares of Medtronic by 2.1% in the third 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 during the last quarter. 82.06% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Medtronic

In other news, EVP Michael Marinaro sold 854 shares of the firm's stock in a transaction that occurred 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 sale, the executive vice president now owns 27,925 shares of the company's stock, valued at approximately $2,321,684.50. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In other news, EVP Sean Salmon sold 30,695 shares of the firm's stock in a transaction that occurred 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 completion of the sale, the executive vice president now owns 48,289 shares of the company's stock, valued at approximately $4,110,842.57. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Michael Marinaro sold 854 shares of the 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 transaction, the executive vice president now owns 27,925 shares in the company, valued at $2,321,684.50. The disclosure for this sale can be found here. Insiders own 0.30% of the company's stock.

Medtronic Trading Up 0.1 %

NYSE:MDT traded up $0.11 on Thursday, reaching $79.19. 6,063,267 shares of the stock traded hands, compared to its average volume of 6,315,096. The firm has a market capitalization of $105.15 billion, a price-to-earnings ratio of 25.22, a price-to-earnings-growth ratio of 2.71 and a beta of 0.76. The company's 50 day moving average is $84.04 and its 200-day moving average is $81.00. 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 plc has a 1-year low of $68.84 and a 1-year high of $92.02.

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

Medtronic Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, April 12th. Stockholders of record on Friday, March 22nd were given a dividend of $0.69 per share. This represents a $2.76 annualized dividend and a dividend yield of 3.49%. The ex-dividend date of this dividend was Thursday, March 21st. Medtronic's dividend payout ratio (DPR) is 87.90%.

Analysts Set New Price Targets

MDT has been the subject of a number of research reports. Royal Bank of Canada reissued a "sector perform" rating and issued a $92.00 target price on shares of Medtronic in a report on Wednesday, February 21st. Mizuho increased their target price on shares of Medtronic from $95.00 to $98.00 and gave the stock a "buy" rating in a report on Wednesday, February 21st. Oppenheimer increased their target price 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, Truist Financial increased their target price on shares of Medtronic from $87.00 to $90.00 and gave the stock a "hold" rating in a report on Wednesday, February 21st. One analyst has rated the stock with a sell rating, four have issued a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat.com, Medtronic currently has an average rating of "Moderate Buy" and an average target price of $94.91.

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.