Radnor Capital Management LLC Cuts Position in Medtronic plc (NYSE:MDT)

Radnor Capital Management LLC lessened its holdings in Medtronic plc (NYSE:MDT) by 5.2% during the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 5,544 shares of the medical technology company’s stock after selling 306 shares during the quarter. Radnor Capital Management LLC’s holdings in Medtronic were worth $483,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of MDT. Fortitude Family Office LLC purchased a new stake in shares of Medtronic during the fourth quarter valued at approximately $25,000. Leith Wheeler Investment Counsel Ltd. raised its position in Medtronic by 293.0% in the 4th quarter. Leith Wheeler Investment Counsel Ltd. now owns 316,643 shares of the medical technology company’s stock worth $26,000 after buying an additional 236,064 shares during the last quarter. MeadowBrook Investment Advisors LLC bought a new position in Medtronic during the 4th quarter valued at about $27,000. Financial Gravity Asset Management Inc. boosted its holdings in shares of Medtronic by 317.0% during the 3rd quarter. Financial Gravity Asset Management Inc. now owns 367 shares of the medical technology company’s stock valued at $29,000 after acquiring an additional 279 shares during the last quarter. Finally, Fortis Group Advisors LLC grew its stake in shares of Medtronic by 100.0% in the fourth quarter. Fortis Group Advisors LLC now owns 460 shares of the medical technology company’s stock worth $38,000 after acquiring an additional 230 shares during the period. Hedge funds and other institutional investors own 82.06% of the company’s stock.

Insider Activity at Medtronic

In other Medtronic news, EVP Michael Marinaro sold 854 shares of Medtronic 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 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 can be accessed through this link. In related news, CEO Geoffrey Martha sold 19,113 shares of Medtronic stock in a transaction dated Friday, June 7th. The shares were sold at an average price of $83.77, for a total transaction of $1,601,096.01. Following the completion of the transaction, the chief executive officer now directly owns 143,348 shares of the company’s stock, valued at approximately $12,008,261.96. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP Michael Marinaro sold 854 shares of Medtronic stock in a transaction dated 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 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 currently owned by insiders.

Analysts Set New Price Targets

MDT has been the topic of a number of research analyst reports. Truist Financial lowered their price objective on shares of Medtronic from $90.00 to $88.00 and set a “hold” rating on the stock in a research report on Friday, May 24th. UBS Group raised their price target on Medtronic from $75.00 to $76.00 and gave the stock a “sell” rating in a research note on Friday, May 24th. Needham & Company LLC reiterated a “hold” rating on shares of Medtronic in a research report on Friday, May 24th. The Goldman Sachs Group assumed coverage on Medtronic in a research report on Thursday, May 30th. They issued a “sell” rating and a $83.00 target price on the stock. Finally, Wells Fargo & Company upped their price objective on Medtronic from $102.00 to $105.00 and gave the stock an “overweight” rating in a research note on Friday, May 24th. Two investment analysts have rated the stock with a sell rating, five have assigned a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $93.00.

Medtronic Trading Down 0.4 %

MDT stock opened at $81.33 on Monday. The firm has a fifty day moving average price of $81.81 and a 200 day moving average price of $83.54. Medtronic plc has a fifty-two week low of $68.84 and a fifty-two week high of $91.00. The firm has a market cap of $107.99 billion, a PE ratio of 29.69, a price-to-earnings-growth ratio of 2.34 and a beta of 0.83. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.55 and a current ratio of 2.03.

Medtronic (NYSE:MDT) last announced its quarterly earnings results on Thursday, May 23rd. The medical technology company reported $1.46 EPS for the quarter, beating analysts’ consensus estimates of $1.45 by $0.01. Medtronic had a net margin of 11.36% and a return on equity of 13.47%. The firm had revenue of $8.59 billion during the quarter, compared to the consensus estimate of $8.44 billion. During the same quarter last year, the firm earned $1.57 EPS. The firm’s revenue for the quarter was up .5% compared to the same quarter last year. Sell-side analysts anticipate that Medtronic plc will post 5.44 earnings per share for the current fiscal year.

Medtronic Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, July 12th. Stockholders of record on Friday, June 28th will be issued a $0.70 dividend. This is a boost from Medtronic’s previous quarterly dividend of $0.69. The ex-dividend date of this dividend is Friday, June 28th. This represents a $2.80 dividend on an annualized basis and a dividend yield of 3.44%. Medtronic’s payout ratio is 100.36%.

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.