Medtronic plc (NYSE:MDT) Shares Sold by Palouse Capital Management Inc.

Palouse Capital Management Inc. trimmed its stake in shares of Medtronic plc (NYSE:MDT) by 1.2% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 30,635 shares of the medical technology company’s stock after selling 374 shares during the period. Medtronic comprises 1.6% of Palouse Capital Management Inc.’s holdings, making the stock its 25th largest position. Palouse Capital Management Inc.’s holdings in Medtronic were worth $2,447,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Clear Harbor Asset Management LLC grew its holdings in Medtronic by 1.2% in the third quarter. Clear Harbor Asset Management LLC now owns 9,558 shares of the medical technology company’s stock valued at $861,000 after purchasing an additional 111 shares during the period. Guardian Wealth Management Inc. grew its holdings in Medtronic by 0.9% in the third quarter. Guardian Wealth Management Inc. now owns 13,131 shares of the medical technology company’s stock valued at $1,182,000 after purchasing an additional 115 shares during the period. First City Capital Management Inc. grew its holdings in Medtronic by 2.9% in the third quarter. First City Capital Management Inc. now owns 4,123 shares of the medical technology company’s stock valued at $371,000 after purchasing an additional 116 shares during the period. Hardy Reed LLC grew its holdings in Medtronic by 4.4% in the third quarter. Hardy Reed LLC now owns 2,743 shares of the medical technology company’s stock valued at $247,000 after purchasing an additional 116 shares during the period. Finally, Precision Wealth Strategies LLC grew its holdings in Medtronic by 3.3% in the third quarter. Precision Wealth Strategies LLC now owns 3,741 shares of the medical technology company’s stock valued at $337,000 after purchasing an additional 118 shares during the period. 82.06% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several analysts have commented on the company. Barclays raised their price objective on Medtronic from $105.00 to $109.00 and gave the company an “overweight” rating in a report on Tuesday, November 26th. Robert W. Baird dropped their price objective on Medtronic from $96.00 to $93.00 and set a “neutral” rating on the stock in a report on Wednesday, November 20th. JPMorgan Chase & Co. dropped their price objective on Medtronic from $99.00 to $96.00 and set a “neutral” rating on the stock in a report on Friday, November 15th. Truist Financial lowered their price target on Medtronic from $93.00 to $89.00 and set a “hold” rating on the stock in a research note on Wednesday, December 18th. Finally, Needham & Company LLC reaffirmed a “hold” rating on shares of Medtronic in a research note on Wednesday. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating, six have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, Medtronic currently has a consensus rating of “Hold” and a consensus target price of $95.00.

Medtronic Stock Up 0.9 %

MDT opened at $93.02 on Friday. The company has a market cap of $119.28 billion, a PE ratio of 28.45, a P/E/G ratio of 2.57 and a beta of 0.84. The business has a 50 day moving average price of $85.51 and a two-hundred day moving average price of $86.81. Medtronic plc has a 52 week low of $75.96 and a 52 week high of $93.08. The company has a quick ratio of 1.39, a current ratio of 1.84 and a debt-to-equity ratio of 0.51.

Medtronic (NYSE:MDT) last released its quarterly earnings results on Tuesday, November 19th. The medical technology company reported $1.26 earnings per share for the quarter, topping analysts’ consensus estimates 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 for the quarter, compared to analysts’ expectations of $8.27 billion. During the same quarter in the prior year, the firm posted $1.25 EPS. The company’s revenue was up 5.2% compared to the same quarter last year. As a group, research analysts anticipate that Medtronic plc will post 5.45 EPS for the current year.

Medtronic Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, January 10th. Shareholders of record on Friday, December 27th were given a $0.70 dividend. This represents a $2.80 annualized dividend and a yield of 3.01%. The ex-dividend date of this dividend was Friday, December 27th. Medtronic’s dividend payout ratio (DPR) is presently 85.63%.

Insider Buying and Selling at Medtronic

In related news, EVP Brett A. Wall sold 12,437 shares of the business’s stock in a transaction dated Friday, January 24th. The stock was sold at an average price of $90.00, for a total value of $1,119,330.00. Following the completion of the sale, the executive vice president now directly owns 40,979 shares of the company’s stock, valued at $3,688,110. The trade was a 23.28 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 0.20% of the stock is currently owned by corporate 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.