Bell Investment Advisors Inc Decreases Stock Holdings in Medtronic plc (NYSE:MDT)

Bell Investment Advisors Inc lowered its holdings in Medtronic plc (NYSE:MDT) by 26.7% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 505 shares of the medical technology company’s stock after selling 184 shares during the period. Bell Investment Advisors Inc’s holdings in Medtronic were worth $40,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. Argentarii LLC acquired a new stake in shares of Medtronic in the 4th quarter valued at about $293,000. Amundi increased its holdings in Medtronic by 0.7% in the fourth quarter. Amundi now owns 4,883,584 shares of the medical technology company’s stock valued at $403,773,000 after buying an additional 31,794 shares during the last quarter. Naviter Wealth LLC raised its stake in Medtronic by 19.1% during the fourth quarter. Naviter Wealth LLC now owns 19,473 shares of the medical technology company’s stock valued at $1,569,000 after buying an additional 3,120 shares in the last quarter. Larson Financial Group LLC lifted its holdings in Medtronic by 20.1% during the 4th quarter. Larson Financial Group LLC now owns 29,635 shares of the medical technology company’s stock worth $2,367,000 after buying an additional 4,960 shares during the last quarter. Finally, Bank Julius Baer & Co. Ltd Zurich lifted its holdings in Medtronic by 174.3% during the 4th quarter. Bank Julius Baer & Co. Ltd Zurich now owns 894,086 shares of the medical technology company’s stock worth $75,994,000 after buying an additional 568,107 shares during the last quarter. Hedge funds and other institutional investors own 82.06% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on the stock. Barclays lifted their price objective on shares of Medtronic from $105.00 to $109.00 and gave the stock an “overweight” rating in a report on Tuesday, November 26th. Robert W. Baird raised their target price on shares of Medtronic from $90.00 to $91.00 and gave the stock a “neutral” rating in a report on Wednesday, February 19th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $105.00 target price on shares of Medtronic in a report on Wednesday, February 19th. UBS Group raised their price target on Medtronic from $85.00 to $95.00 and gave the stock a “neutral” rating in a report on Wednesday, February 19th. Finally, Truist Financial reduced their price objective on Medtronic from $93.00 to $89.00 and set a “hold” rating for the company in a research report on Wednesday, December 18th. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $96.07.

Medtronic Stock Up 1.6 %

Shares of MDT stock opened at $94.58 on Monday. The firm’s fifty day moving average price is $88.33 and its two-hundred day moving average price is $87.80. The company has a current ratio of 1.90, a quick ratio of 1.39 and a debt-to-equity ratio of 0.48. Medtronic plc has a 1 year low of $75.96 and a 1 year high of $95.57. The firm has a market capitalization of $121.30 billion, a P/E ratio of 28.75, a PEG ratio of 2.22 and a beta of 0.80.

Medtronic (NYSE:MDT) last issued its earnings results on Tuesday, February 18th. The medical technology company reported $1.39 earnings per share for the quarter, topping analysts’ consensus estimates of $1.36 by $0.03. Medtronic had a net margin of 12.83% and a return on equity of 14.07%. The business had revenue of $8.29 billion for the quarter, compared to the consensus estimate of $8.33 billion. On average, equities analysts predict that Medtronic plc will post 5.46 EPS for the current fiscal year.

Medtronic Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, April 11th. Shareholders of record on Friday, March 28th will be paid a $0.70 dividend. This represents a $2.80 annualized dividend and a yield of 2.96%. The ex-dividend date of this dividend is Friday, March 28th. Medtronic’s dividend payout ratio (DPR) is 85.11%.

Insider Buying and Selling at Medtronic

In other news, EVP Brett A. Wall sold 12,437 shares of the stock in a transaction dated Friday, January 24th. The shares were sold at an average price of $90.00, for a total value of $1,119,330.00. Following the completion of the transaction, the executive vice president now owns 40,979 shares of the company’s stock, valued at approximately $3,688,110. This represents a 23.28 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.20% of the company’s stock.

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.