Pathstone Holdings LLC Sells 17,136 Shares of Medtronic plc (NYSE:MDT)

Pathstone Holdings LLC trimmed its holdings in shares of Medtronic plc (NYSE:MDT - Free Report) by 13.6% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 108,667 shares of the medical technology company's stock after selling 17,136 shares during the quarter. Pathstone Holdings LLC's holdings in Medtronic were worth $8,691,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Accurate Wealth Management LLC lifted its holdings in Medtronic by 3.7% in the fourth quarter. Accurate Wealth Management LLC now owns 4,421 shares of the medical technology company's stock valued at $357,000 after acquiring an additional 159 shares during the last quarter. SeaCrest Wealth Management LLC grew its holdings in shares of Medtronic by 3.3% during the fourth quarter. SeaCrest Wealth Management LLC now owns 7,967 shares of the medical technology company's stock worth $636,000 after buying an additional 251 shares during the last quarter. Assenagon Asset Management S.A. lifted its position in Medtronic by 3.3% in the fourth quarter. Assenagon Asset Management S.A. now owns 60,400 shares of the medical technology company's stock valued at $4,825,000 after purchasing an additional 1,926 shares during the period. Kathmere Capital Management LLC acquired a new position in shares of Medtronic during the 4th quarter worth approximately $291,000. Finally, Park Avenue Securities LLC raised its holdings in Medtronic by 56.4% in the 4th quarter. Park Avenue Securities LLC now owns 39,094 shares of the medical technology company's stock valued at $3,123,000 after acquiring an additional 14,101 shares during the last quarter. Institutional investors and hedge funds own 82.06% of the company's stock.

Medtronic Stock Down 0.9%

Shares of Medtronic stock traded down $0.78 on Tuesday, reaching $86.19. 9,247,065 shares of the company were exchanged, compared to its average volume of 6,760,179. The company has a current ratio of 1.90, a quick ratio of 1.39 and a debt-to-equity ratio of 0.48. The company has a market capitalization of $110.54 billion, a price-to-earnings ratio of 26.20, a PEG ratio of 2.22 and a beta of 0.81. Medtronic plc has a one year low of $75.96 and a one year high of $96.25. The company has a 50-day moving average of $85.83 and a 200 day moving average of $86.57.

Medtronic (NYSE:MDT - Get Free Report) last announced its quarterly earnings results on Tuesday, February 18th. The medical technology company reported $1.39 EPS for the quarter, beating analysts' consensus estimates of $1.36 by $0.03. The firm had revenue of $8.29 billion for the quarter, compared to analyst estimates of $8.33 billion. Medtronic had a return on equity of 14.07% and a net margin of 12.83%. On average, equities research analysts forecast that Medtronic plc will post 5.46 earnings per share for the current year.

Medtronic Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, April 11th. Investors of record on Friday, March 28th were paid a $0.70 dividend. The ex-dividend date was Friday, March 28th. This represents a $2.80 dividend on an annualized basis and a yield of 3.25%. Medtronic's dividend payout ratio is presently 85.11%.

Analysts Set New Price Targets

Several brokerages recently issued reports on MDT. Citigroup upgraded Medtronic from a "neutral" rating to a "buy" rating and increased their price target for the company from $92.00 to $107.00 in a report on Tuesday, March 4th. Royal Bank of Canada restated an "outperform" rating and set a $105.00 target price on shares of Medtronic in a report on Wednesday, February 19th. Truist Financial reduced their price objective on shares of Medtronic from $93.00 to $90.00 and set a "hold" rating for the company in a research note on Friday, April 11th. Robert W. Baird upped their price objective on shares of Medtronic from $90.00 to $91.00 and gave the company a "neutral" rating in a research report on Wednesday, February 19th. Finally, UBS Group upped their price objective on shares of Medtronic from $85.00 to $95.00 and gave the stock a "neutral" rating in a research note on Wednesday, February 19th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating, six have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus target price of $96.14.

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.