Lee Danner & Bass Inc. Lowers Position in Medtronic plc (NYSE:MDT)

Lee Danner & Bass Inc. lessened its stake in shares of Medtronic plc (NYSE:MDT) by 2.8% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 122,455 shares of the medical technology company’s stock after selling 3,465 shares during the period. Lee Danner & Bass Inc.’s holdings in Medtronic were worth $9,782,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Kiker Wealth Management LLC bought a new position in Medtronic during the 4th quarter valued at approximately $530,000. AllSquare Wealth Management LLC increased its position in Medtronic by 24.6% during the 4th quarter. AllSquare Wealth Management LLC now owns 6,084 shares of the medical technology company’s stock valued at $486,000 after buying an additional 1,200 shares in the last quarter. HUB Investment Partners LLC increased its position in Medtronic by 21.8% during the 4th quarter. HUB Investment Partners LLC now owns 17,160 shares of the medical technology company’s stock valued at $1,371,000 after buying an additional 3,074 shares in the last quarter. Northwest & Ethical Investments L.P. increased its position in Medtronic by 6.4% during the 4th quarter. Northwest & Ethical Investments L.P. now owns 22,722 shares of the medical technology company’s stock valued at $1,815,000 after buying an additional 1,371 shares in the last quarter. Finally, Lingohr Asset Management GmbH bought a new position in Medtronic during the 4th quarter valued at approximately $1,072,000. Institutional investors own 82.06% of the company’s stock.

Analyst Upgrades and Downgrades

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

Medtronic Stock Performance

Shares of MDT opened at $91.15 on Friday. The company has a debt-to-equity ratio of 0.48, a current ratio of 1.90 and a quick ratio of 1.39. Medtronic plc has a one year low of $75.96 and a one year high of $96.25. The firm has a market capitalization of $116.91 billion, a P/E ratio of 27.71, a PEG ratio of 2.22 and a beta of 0.80. The business has a fifty day moving average of $90.47 and a 200 day moving average of $88.06.

Medtronic (NYSE:MDT) last released its earnings results on Tuesday, February 18th. The medical technology company reported $1.39 earnings per share for the quarter, beating the consensus estimate of $1.36 by $0.03. The company had revenue of $8.29 billion for the quarter, compared to the consensus estimate of $8.33 billion. Medtronic had a return on equity of 14.07% and a net margin of 12.83%. As a group, sell-side analysts anticipate that Medtronic plc will post 5.46 EPS for the current year.

Medtronic Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, April 11th. Investors of record on Friday, March 28th will be given a dividend of $0.70 per share. The ex-dividend date of this dividend is Friday, March 28th. This represents a $2.80 annualized dividend and a yield of 3.07%. Medtronic’s dividend payout ratio (DPR) is presently 85.11%.

Insider Activity at Medtronic

In related news, EVP Brett A. Wall sold 12,437 shares of Medtronic stock in a transaction on Friday, January 24th. The stock was sold at an average price of $90.00, for a total transaction of $1,119,330.00. Following the transaction, the executive vice president now directly owns 40,979 shares in the company, valued at approximately $3,688,110. The trade was a 23.28 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 0.20% of the stock is owned by company insiders.

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.