Coldstream Capital Management Inc. Sells 692 Shares of Medtronic plc (NYSE:MDT)

Coldstream Capital Management Inc. lessened its holdings in Medtronic plc (NYSE:MDT) by 4.8% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 13,630 shares of the medical technology company’s stock after selling 692 shares during the quarter. Coldstream Capital Management Inc.’s holdings in Medtronic were worth $1,089,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also recently bought and sold shares of MDT. Morse Asset Management Inc bought a new position in shares of Medtronic during the 3rd quarter worth $225,000. Te Ahumairangi Investment Management Ltd grew its stake in shares of Medtronic by 4.1% during the 3rd quarter. Te Ahumairangi Investment Management Ltd now owns 52,321 shares of the medical technology company’s stock worth $4,684,000 after acquiring an additional 2,050 shares during the period. Chelsea Counsel Co. bought a new position in shares of Medtronic during the 3rd quarter worth $45,000. Tudor Financial Inc. bought a new position in shares of Medtronic during the 3rd quarter worth $586,000. Finally, Anchor Investment Management LLC grew its stake in shares of Medtronic by 1.2% during the 3rd quarter. Anchor Investment Management LLC now owns 107,518 shares of the medical technology company’s stock worth $9,680,000 after acquiring an additional 1,271 shares during the period. Institutional investors own 82.06% of the company’s stock.

Analyst Ratings Changes

Several research firms have recently weighed in on MDT. Citigroup upgraded Medtronic from a “neutral” rating to a “buy” rating and increased their price target for the stock from $92.00 to $107.00 in a research note on Tuesday, March 4th. Robert W. Baird increased their price target on Medtronic from $90.00 to $91.00 and gave the stock a “neutral” rating in a research note on Wednesday, February 19th. Royal Bank of Canada reissued an “outperform” rating and set a $105.00 price objective on shares of Medtronic in a report on Wednesday, February 19th. Truist Financial dropped their price objective on Medtronic from $93.00 to $90.00 and set a “hold” rating on the stock in a report on Friday, April 11th. Finally, UBS Group increased 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 investment analyst has rated the stock with a sell rating, eight have given a hold rating, six have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $96.14.

Medtronic Price Performance

MDT stock opened at $83.98 on Tuesday. 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 stock has a market cap of $107.71 billion, a PE ratio of 25.53, a P/E/G ratio of 2.22 and a beta of 0.79. The firm has a 50 day simple moving average of $88.08 and a two-hundred day simple moving average of $87.21.

Medtronic (NYSE:MDT) last released its quarterly earnings results on Tuesday, February 18th. The medical technology company reported $1.39 EPS 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 during the quarter, compared to analysts’ expectations of $8.33 billion. On average, analysts predict that Medtronic plc will post 5.46 EPS for the current fiscal year.

Medtronic Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, April 11th. Stockholders of record on Friday, March 28th were paid a $0.70 dividend. The ex-dividend date of this dividend was Friday, March 28th. This represents a $2.80 dividend on an annualized basis and a dividend yield of 3.33%. Medtronic’s dividend payout ratio (DPR) is 85.11%.

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.