Medtronic plc (NYSE:MDT) Position Trimmed by Massachusetts Financial Services Co. MA

Massachusetts Financial Services Co. MA decreased its holdings in shares of Medtronic plc (NYSE:MDT - Free Report) by 9.9% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 28,887,300 shares of the medical technology company's stock after selling 3,183,182 shares during the period. Medtronic comprises about 0.8% of Massachusetts Financial Services Co. MA's portfolio, making the stock its 25th largest holding. Massachusetts Financial Services Co. MA owned approximately 2.17% of Medtronic worth $2,379,736,000 as of its most recent SEC filing.

Other institutional investors have also recently added to or reduced their stakes in the company. Fortitude Family Office LLC bought a new stake in Medtronic during the fourth quarter valued at $25,000. MeadowBrook Investment Advisors LLC bought a new stake in Medtronic during the fourth quarter valued at $27,000. Financial Gravity Asset Management Inc. grew its position in shares of Medtronic by 317.0% during 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 during the last quarter. Hartford Financial Management Inc. grew its position in shares of Medtronic by 52.1% during the fourth quarter. Hartford Financial Management Inc. now owns 479 shares of the medical technology company's stock worth $39,000 after acquiring an additional 164 shares during the last quarter. Finally, Rakuten Securities Inc. bought a new position in shares of Medtronic during the fourth quarter worth about $49,000. Institutional investors own 82.06% of the company's stock.

Medtronic Price Performance

NYSE MDT traded up $0.08 on Friday, reaching $82.84. The company's stock had a trading volume of 4,217,841 shares, compared to its average volume of 5,690,403. Medtronic plc has a twelve month low of $68.84 and a twelve month high of $91.00. The company has a debt-to-equity ratio of 0.46, a quick ratio of 1.71 and a current ratio of 2.30. The stock has a market cap of $110.00 billion, a PE ratio of 26.38, a PEG ratio of 2.70 and a beta of 0.78. The firm's 50 day moving average is $82.94 and its two-hundred day moving average is $81.84.

Medtronic (NYSE:MDT - Get Free Report) last issued its quarterly 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. Medtronic had a net margin of 13.00% and a return on equity of 13.71%. The company had revenue of $8.09 billion during the quarter, compared to the consensus estimate of $7.95 billion. During the same period in the prior year, the company earned $1.30 EPS. Medtronic's revenue was up 4.7% on a year-over-year basis. As a group, sell-side analysts predict that Medtronic plc will post 5.2 EPS for the current year.

Medtronic Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, April 12th. Shareholders of record on Friday, March 22nd were issued a $0.69 dividend. This represents a $2.76 dividend on an annualized basis and a yield of 3.33%. The ex-dividend date was Thursday, March 21st. Medtronic's payout ratio is 87.90%.

Insider Buying and Selling at Medtronic

In other Medtronic news, EVP Michael Marinaro sold 854 shares of the company's stock in a transaction dated Monday, April 8th. The shares were 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 approximately $2,321,684.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other Medtronic news, EVP Michael Marinaro sold 854 shares of the company's stock in a transaction dated 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 directly owns 27,925 shares of the company's stock, valued at $2,321,684.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Sean Salmon sold 30,695 shares of the company's stock in a transaction dated 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 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. 0.30% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several equities analysts have recently commented on the stock. Oppenheimer upped their price target on shares of Medtronic from $89.00 to $92.00 and gave the stock a "market perform" rating in a research report on Wednesday, February 21st. Mizuho upped their price target on shares of Medtronic from $95.00 to $98.00 and gave the stock a "buy" rating in a research report on Wednesday, February 21st. Royal Bank of Canada reaffirmed a "sector perform" rating and issued a $92.00 price objective on shares of Medtronic in a report on Wednesday, February 21st. Finally, Truist Financial upped their price objective 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 equities research analyst has rated the stock with a sell rating, four have given a hold rating and six have given a buy rating to the company's stock. According to MarketBeat, the company has a consensus rating of "Hold" and a consensus price target 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.

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