Haverford Trust Co Sells 198,255 Shares of Medtronic plc (NYSE:MDT)

Haverford Trust Co decreased its stake in shares of Medtronic plc (NYSE:MDT - Free Report) by 13.0% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,326,634 shares of the medical technology company's stock after selling 198,255 shares during the quarter. Medtronic comprises about 1.2% of Haverford Trust Co's investment portfolio, making the stock its 27th biggest holding. Haverford Trust Co owned about 0.10% of Medtronic worth $109,288,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also added to or reduced their stakes in the company. Fortitude Family Office LLC purchased a new stake in Medtronic during the 4th quarter valued at about $25,000. Leith Wheeler Investment Counsel Ltd. grew its holdings in shares of Medtronic by 293.0% during the fourth quarter. Leith Wheeler Investment Counsel Ltd. now owns 316,643 shares of the medical technology company's stock valued at $26,000 after buying an additional 236,064 shares during the last quarter. MeadowBrook Investment Advisors LLC bought a new stake in shares of Medtronic during the fourth quarter valued at approximately $27,000. Financial Gravity Asset Management Inc. raised its holdings in Medtronic by 317.0% in the 3rd 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. Finally, Hartford Financial Management Inc. lifted its position in Medtronic by 52.1% in the 4th quarter. Hartford Financial Management Inc. now owns 479 shares of the medical technology company's stock valued at $39,000 after acquiring an additional 164 shares in the last quarter. 82.06% of the stock is owned by institutional investors.

Insider Activity at Medtronic

In related 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 completion of the transaction, the executive vice president now owns 48,289 shares in the company, valued at $4,110,842.57. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In related news, EVP Sean Salmon sold 30,695 shares of the business's stock in a transaction dated 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 sale, the executive vice president now directly owns 48,289 shares in the company, valued at $4,110,842.57. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Michael Marinaro sold 854 shares of the stock in a transaction that occurred on Monday, April 8th. The shares were sold at an average price of $83.14, for a total value of $71,001.56. Following the transaction, the executive vice president now directly owns 27,925 shares of the company's stock, valued at $2,321,684.50. The disclosure for this sale can be found here. 0.30% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on MDT shares. Mizuho upped their price target on Medtronic from $95.00 to $98.00 and gave the company a "buy" rating in a 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. Oppenheimer increased their target price on Medtronic from $89.00 to $92.00 and gave the company a "market perform" rating in a report on Wednesday, February 21st. Finally, Truist Financial upped their price target on shares of Medtronic from $87.00 to $90.00 and gave the company a "hold" rating in a research 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 assigned a buy rating to the company's stock. According to data from MarketBeat, the stock currently has an average rating of "Hold" and a consensus price target of $94.91.

Medtronic Stock Performance

NYSE MDT traded up $0.28 on Friday, reaching $85.92. 8,235,823 shares of the stock were exchanged, compared to its average volume of 6,116,542. The firm has a market capitalization of $114.09 billion, a PE ratio of 27.29, a PEG ratio of 2.76 and a beta of 0.78. Medtronic plc has a one year low of $68.84 and a one year high of $91.00. The company's 50-day simple moving average is $82.90 and its two-hundred day simple moving average is $82.15. 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 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 for the quarter, compared to analysts' expectations of $7.95 billion. During the same quarter in the previous year, the company earned $1.30 EPS. Medtronic's revenue for the quarter was up 4.7% on a year-over-year basis. Analysts expect that Medtronic plc will post 5.2 EPS for the current fiscal year.

Medtronic Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, April 12th. Investors 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 3.21%. The ex-dividend date was Thursday, March 21st. Medtronic's dividend payout ratio is currently 87.90%.

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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