Medtronic plc (NYSE:MDT) Shares Sold by SG Americas Securities LLC

SG Americas Securities LLC cut its position in Medtronic plc (NYSE:MDT) by 94.3% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,508 shares of the medical technology company’s stock after selling 24,952 shares during the quarter. SG Americas Securities LLC’s holdings in Medtronic were worth $120,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also modified their holdings of the company. Fortitude Family Office LLC acquired a new stake in shares of Medtronic in the third quarter valued at $27,000. Highline Wealth Partners LLC acquired a new stake in shares of Medtronic in the third quarter valued at $27,000. Darwin Wealth Management LLC acquired a new stake in shares of Medtronic in the third quarter valued at $27,000. J. Stern & Co. LLP acquired a new stake in shares of Medtronic in the third quarter valued at $30,000. Finally, Kieckhefer Group LLC purchased a new position in Medtronic in the fourth quarter valued at $40,000. 82.06% of the stock is owned by institutional investors and hedge funds.

Medtronic Stock Up 0.4 %

Medtronic stock opened at $91.18 on Wednesday. Medtronic plc has a fifty-two week low of $75.96 and a fifty-two week high of $93.08. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.39 and a current ratio of 1.84. The company has a market capitalization of $116.92 billion, a P/E ratio of 27.88, a PEG ratio of 2.57 and a beta of 0.84. The stock has a 50-day simple moving average of $84.93 and a 200-day simple moving average of $86.56.

Medtronic (NYSE:MDT) last posted its earnings results on Tuesday, November 19th. The medical technology company reported $1.26 earnings per share for the quarter, beating the consensus estimate of $1.25 by $0.01. Medtronic had a return on equity of 13.79% and a net margin of 13.00%. The business had revenue of $8.40 billion during the quarter, compared to the consensus estimate of $8.27 billion. During the same period in the previous year, the business earned $1.25 EPS. The business’s quarterly revenue was up 5.2% on a year-over-year basis. Equities research analysts expect that Medtronic plc will post 5.45 earnings per share for the current year.

Medtronic Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, January 10th. Investors of record on Friday, December 27th were given a $0.70 dividend. This represents a $2.80 annualized dividend and a yield of 3.07%. The ex-dividend date of this dividend was Friday, December 27th. Medtronic’s dividend payout ratio (DPR) is presently 85.63%.

Insider Activity at Medtronic

In related news, EVP Brett A. Wall sold 9,850 shares of the business’s stock in a transaction dated Wednesday, January 8th. The stock was sold at an average price of $80.41, for a total value of $792,038.50. Following the transaction, the executive vice president now owns 40,708 shares in the company, valued at $3,273,330.28. The trade was a 19.48 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. 0.20% of the stock is currently owned by insiders.

Analyst Ratings Changes

A number of research firms recently issued reports on MDT. Barclays lifted their target price on Medtronic from $105.00 to $109.00 and gave the company an “overweight” rating in a report on Tuesday, November 26th. Truist Financial decreased their target price on Medtronic from $93.00 to $89.00 and set a “hold” rating for the company in a report on Wednesday, December 18th. JPMorgan Chase & Co. decreased their target price on Medtronic from $99.00 to $96.00 and set a “neutral” rating for the company in a report on Friday, November 15th. Sanford C. Bernstein lifted their target price on Medtronic from $96.00 to $97.00 and gave the company an “outperform” rating in a report on Wednesday, November 20th. Finally, Needham & Company LLC reiterated a “hold” rating on shares of Medtronic in a report on Monday, November 18th. One analyst has rated the stock with a sell rating, nine have given a hold rating, six have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Hold” and an average price target of $95.00.

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.