Calamos Wealth Management LLC Lowers Stock Position in Medtronic plc (NYSE:MDT)

Calamos Wealth Management LLC decreased its holdings in Medtronic plc (NYSE:MDT) by 11.8% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 10,406 shares of the medical technology company’s stock after selling 1,397 shares during the quarter. Calamos Wealth Management LLC’s holdings in Medtronic were worth $831,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. Czech National Bank raised its holdings in Medtronic by 3.3% during the third quarter. Czech National Bank now owns 261,279 shares of the medical technology company’s stock worth $23,523,000 after purchasing an additional 8,249 shares in the last quarter. Park Avenue Securities LLC increased its holdings in shares of Medtronic by 3.3% in the 3rd quarter. Park Avenue Securities LLC now owns 24,993 shares of the medical technology company’s stock valued at $2,250,000 after acquiring an additional 809 shares during the period. GAMMA Investing LLC increased its holdings in shares of Medtronic by 33.8% in the 3rd quarter. GAMMA Investing LLC now owns 13,024 shares of the medical technology company’s stock valued at $1,173,000 after acquiring an additional 3,289 shares during the period. Azzad Asset Management Inc. ADV increased its holdings in shares of Medtronic by 1.0% in the 3rd quarter. Azzad Asset Management Inc. ADV now owns 60,356 shares of the medical technology company’s stock valued at $5,434,000 after acquiring an additional 574 shares during the period. Finally, IAM Advisory LLC acquired a new position in shares of Medtronic in the 3rd quarter valued at $210,000. Hedge funds and other institutional investors own 82.06% of the company’s stock.

Insider Buying and Selling

In other news, EVP Brett A. Wall sold 12,437 shares of the company’s 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 owns 40,979 shares of the company’s stock, valued at $3,688,110. This represents a 23.28 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Corporate insiders own 0.20% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on MDT shares. Truist Financial cut their target price on shares of Medtronic from $93.00 to $89.00 and set a “hold” rating on the stock in a report on Wednesday, December 18th. JPMorgan Chase & Co. dropped their price objective on shares of Medtronic from $99.00 to $96.00 and set a “neutral” rating on the stock in a research note on Friday, November 15th. Needham & Company LLC reissued a “hold” rating on shares of Medtronic in a research note on Monday, November 18th. Sanford C. Bernstein boosted their price objective on shares of Medtronic from $96.00 to $97.00 and gave the company an “outperform” rating in a research note on Wednesday, November 20th. Finally, Barclays boosted their price objective on shares of Medtronic from $105.00 to $109.00 and gave the company an “overweight” rating in a research note on Tuesday, November 26th. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, Medtronic currently has a consensus rating of “Hold” and a consensus price target of $95.00.

Medtronic Price Performance

Shares of Medtronic stock opened at $90.55 on Tuesday. The company has a current ratio of 1.84, a quick ratio of 1.39 and a debt-to-equity ratio of 0.51. The company’s 50-day moving average price is $84.38 and its two-hundred day moving average price is $86.09. Medtronic plc has a 52 week low of $75.96 and a 52 week high of $93.08. The stock has a market cap of $116.11 billion, a PE ratio of 27.69, a price-to-earnings-growth ratio of 2.57 and a beta of 0.84.

Medtronic (NYSE:MDT) last issued 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. The firm 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%. Medtronic’s revenue was up 5.2% on a year-over-year basis. During the same quarter last year, the business posted $1.25 EPS. As a group, sell-side analysts anticipate that Medtronic plc will post 5.45 EPS for the current fiscal year.

Medtronic Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, January 10th. Stockholders of record on Friday, December 27th were issued a dividend of $0.70 per share. The ex-dividend date of this dividend was Friday, December 27th. This represents a $2.80 annualized dividend and a dividend yield of 3.09%. Medtronic’s dividend payout ratio is 85.63%.

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.