Rockefeller Capital Management L.P. Sells 76,876 Shares of Medtronic plc (NYSE:MDT)

Rockefeller Capital Management L.P. trimmed its position in shares of Medtronic plc (NYSE:MDT) by 15.2% during the 4th quarter, Holdings Channel reports. The firm owned 427,969 shares of the medical technology company’s stock after selling 76,876 shares during the period. Rockefeller Capital Management L.P.’s holdings in Medtronic were worth $34,187,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of MDT. MONECO Advisors LLC lifted its position in shares of Medtronic by 1.8% in the fourth quarter. MONECO Advisors LLC now owns 6,408 shares of the medical technology company’s stock valued at $512,000 after acquiring an additional 115 shares in the last quarter. OLD Second National Bank of Aurora lifted its holdings in Medtronic by 0.3% in the 4th quarter. OLD Second National Bank of Aurora now owns 36,303 shares of the medical technology company’s stock worth $2,900,000 after purchasing an additional 121 shares in the last quarter. McKinley Carter Wealth Services Inc. boosted its stake in Medtronic by 0.7% in the 4th quarter. McKinley Carter Wealth Services Inc. now owns 19,677 shares of the medical technology company’s stock worth $1,572,000 after purchasing an additional 129 shares during the period. Faithward Advisors LLC grew its holdings in Medtronic by 2.7% during the 4th quarter. Faithward Advisors LLC now owns 5,043 shares of the medical technology company’s stock valued at $403,000 after buying an additional 134 shares in the last quarter. Finally, Vestor Capital LLC raised its position in shares of Medtronic by 0.3% during the fourth quarter. Vestor Capital LLC now owns 51,375 shares of the medical technology company’s stock valued at $4,104,000 after buying an additional 138 shares during the last quarter. Hedge funds and other institutional investors own 82.06% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on MDT shares. Needham & Company LLC restated a “hold” rating on shares of Medtronic in a research report on Wednesday, February 19th. Citigroup upgraded Medtronic from a “neutral” rating to a “buy” rating and raised their price objective for the company from $92.00 to $107.00 in a research report on Tuesday, March 4th. Robert W. Baird boosted their target price on Medtronic from $90.00 to $91.00 and gave the stock a “neutral” rating in a research report on Wednesday, February 19th. Truist Financial cut their price target on Medtronic from $93.00 to $90.00 and set a “hold” rating for the company in a report on Friday. Finally, UBS Group upped their price objective on Medtronic from $85.00 to $95.00 and gave the stock a “neutral” rating in a report on Wednesday, February 19th. One analyst has rated the stock with a sell rating, eight have given a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $96.14.

Medtronic Trading Up 0.2 %

Shares of MDT opened at $82.69 on Monday. Medtronic plc has a twelve month low of $75.96 and a twelve month high of $96.25. The company has a current ratio of 1.90, a quick ratio of 1.39 and a debt-to-equity ratio of 0.48. The company’s fifty day simple moving average is $89.71 and its 200-day simple moving average is $87.63. The company has a market cap of $106.05 billion, a P/E ratio of 25.13, a P/E/G ratio of 2.22 and a beta of 0.79.

Medtronic (NYSE:MDT) last announced its quarterly earnings data on Tuesday, February 18th. The medical technology company reported $1.39 earnings per share (EPS) for the quarter, topping the consensus estimate 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 during the quarter, compared to the consensus estimate of $8.33 billion. As a group, analysts expect that Medtronic plc will post 5.46 EPS for the current year.

Medtronic Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, April 11th. Shareholders of record on Friday, March 28th were given a $0.70 dividend. This represents a $2.80 annualized dividend and a yield of 3.39%. The ex-dividend date was Friday, March 28th. Medtronic’s dividend payout ratio (DPR) is presently 85.11%.

Insiders Place Their Bets

In other news, EVP Brett A. Wall sold 12,437 shares of the business’s stock in a transaction on Friday, January 24th. The shares were sold at an average price of $90.00, for a total transaction 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 approximately $3,688,110. The trade was a 23.28 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 0.20% of the company’s stock.

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.