DRW Securities LLC Sells 2,122 Shares of Medtronic plc (NYSE:MDT)

DRW Securities LLC decreased its holdings in shares of Medtronic plc (NYSE:MDT) by 33.7% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 4,166 shares of the medical technology company’s stock after selling 2,122 shares during the period. DRW Securities LLC’s holdings in Medtronic were worth $333,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. Morse Asset Management Inc bought a new stake in Medtronic during the third quarter valued at about $225,000. Coldstream Capital Management Inc. raised its stake in Medtronic by 22.3% during the 3rd quarter. Coldstream Capital Management Inc. now owns 14,322 shares of the medical technology company’s stock valued at $1,287,000 after purchasing an additional 2,610 shares during the period. Sunbelt Securities Inc. boosted its stake in Medtronic by 6.8% in the 3rd quarter. Sunbelt Securities Inc. now owns 3,316 shares of the medical technology company’s stock worth $299,000 after purchasing an additional 210 shares during the period. TCW Group Inc. grew its holdings in Medtronic by 31.5% during the 3rd quarter. TCW Group Inc. now owns 99,673 shares of the medical technology company’s stock valued at $8,974,000 after buying an additional 23,900 shares in the last quarter. Finally, Te Ahumairangi Investment Management Ltd raised its position in shares of Medtronic by 4.1% during the third quarter. Te Ahumairangi Investment Management Ltd now owns 52,321 shares of the medical technology company’s stock valued at $4,684,000 after buying an additional 2,050 shares during the last quarter. 82.06% of the stock is currently owned by hedge funds and other institutional investors.

Medtronic Stock Performance

Shares of MDT stock opened at $82.53 on Friday. Medtronic plc has a 52 week low of $75.96 and a 52 week high of $96.25. The firm has a 50 day moving average of $89.88 and a two-hundred day moving average of $87.69. The company has a quick ratio of 1.39, a current ratio of 1.90 and a debt-to-equity ratio of 0.48. The stock has a market capitalization of $105.85 billion, a PE ratio of 25.09, 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, beating the consensus estimate of $1.36 by $0.03. Medtronic had a return on equity of 14.07% and a net margin of 12.83%. The business had revenue of $8.29 billion during the quarter, compared to analysts’ expectations of $8.33 billion. On average, research analysts predict that Medtronic plc will post 5.46 EPS for the current fiscal year.

Medtronic Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, April 11th. Shareholders of record on Friday, March 28th will be paid a $0.70 dividend. The ex-dividend date is Friday, March 28th. This represents a $2.80 annualized dividend and a yield of 3.39%. Medtronic’s dividend payout ratio is currently 85.11%.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on the stock. Robert W. Baird raised their target price on shares of Medtronic from $90.00 to $91.00 and gave the company a “neutral” rating in a report on Wednesday, February 19th. Royal Bank of Canada restated an “outperform” rating and issued a $105.00 price target on shares of Medtronic in a research report on Wednesday, February 19th. Truist Financial cut their price objective on shares of Medtronic from $93.00 to $89.00 and set a “hold” rating on the stock in a research report on Wednesday, December 18th. UBS Group raised their target price on shares of Medtronic from $85.00 to $95.00 and gave the stock a “neutral” rating in a report on Wednesday, February 19th. Finally, Citigroup upgraded shares of Medtronic from a “neutral” rating to a “buy” rating and upped their price target for the company from $92.00 to $107.00 in a report on Tuesday, March 4th. One analyst has rated the stock with a sell rating, eight have given a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, Medtronic has an average rating of “Hold” and an average target price of $96.07.

Insider Transactions at Medtronic

In related news, EVP Brett A. Wall sold 12,437 shares of the 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 owns 40,979 shares in the company, valued at $3,688,110. This represents a 23.28 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 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.