InTrack Investment Management Inc Sells 3,097 Shares of Medtronic plc (NYSE:MDT)

InTrack Investment Management Inc trimmed its stake in shares of Medtronic plc (NYSE:MDT) by 45.0% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 3,778 shares of the medical technology company’s stock after selling 3,097 shares during the quarter. InTrack Investment Management Inc’s holdings in Medtronic were worth $322,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also bought and sold shares of MDT. Edgestream Partners L.P. bought a new stake in Medtronic in the 2nd quarter worth $239,000. Wealth Alliance increased its holdings in Medtronic by 6.4% during the 2nd quarter. Wealth Alliance now owns 5,353 shares of the medical technology company’s stock valued at $421,000 after purchasing an additional 321 shares during the period. Mercer Global Advisors Inc. ADV raised its position in Medtronic by 0.4% during the 2nd quarter. Mercer Global Advisors Inc. ADV now owns 129,556 shares of the medical technology company’s stock valued at $10,433,000 after purchasing an additional 561 shares during the last quarter. Hsbc Holdings PLC lifted its holdings in Medtronic by 30.3% in the 2nd quarter. Hsbc Holdings PLC now owns 1,161,329 shares of the medical technology company’s stock worth $91,809,000 after buying an additional 270,368 shares during the period. Finally, WCG Wealth Advisors LLC grew its position in shares of Medtronic by 13.1% in the 2nd quarter. WCG Wealth Advisors LLC now owns 23,374 shares of the medical technology company’s stock worth $1,840,000 after buying an additional 2,706 shares during the last quarter. 82.06% of the stock is currently owned by institutional investors.

Medtronic Stock Up 1.2 %

Shares of Medtronic stock opened at $88.23 on Friday. The company has a 50-day simple moving average of $83.63 and a two-hundred day simple moving average of $85.03. Medtronic plc has a 52-week low of $75.96 and a 52-week high of $92.68. 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 stock has a market capitalization of $113.13 billion, a PE ratio of 26.98, a price-to-earnings-growth ratio of 2.28 and a beta of 0.83.

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

Medtronic Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, January 10th. Investors of record on Friday, December 27th were issued a $0.70 dividend. The ex-dividend date of this dividend was Friday, December 27th. This represents a $2.80 annualized dividend and a yield of 3.17%. Medtronic’s payout ratio is 85.63%.

Insiders Place Their Bets

In other Medtronic news, EVP Brett A. Wall sold 9,850 shares of Medtronic stock in a transaction that occurred on Wednesday, January 8th. The shares were sold at an average price of $80.41, for a total value of $792,038.50. Following the completion of the sale, the executive vice president now owns 40,708 shares of the company’s stock, valued at approximately $3,273,330.28. The trade was a 19.48 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 0.20% of the stock is owned by insiders.

Analysts Set New Price Targets

Several analysts recently weighed in on the stock. Sanford C. Bernstein lifted their price target on shares of Medtronic from $96.00 to $97.00 and gave the company an “outperform” rating in a report on Wednesday, November 20th. Royal Bank of Canada raised shares of Medtronic from a “sector perform” rating to an “outperform” rating and lifted their target price for the company from $98.00 to $105.00 in a research note on Thursday, October 10th. Wells Fargo & Company lowered their price objective on shares of Medtronic from $106.00 to $98.00 and set an “overweight” rating for the company in a report on Wednesday, November 20th. Truist Financial reduced their target price on Medtronic from $93.00 to $89.00 and set a “hold” rating on the stock in a report on Wednesday, December 18th. Finally, Barclays raised their target price on Medtronic from $105.00 to $109.00 and gave the company an “overweight” rating in a research note on Tuesday, November 26th. One analyst has rated the stock with a sell rating, nine have issued a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $95.00.

About Medtronic

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.