Medtronic plc (NYSE:MDT) Shares Sold by Pacer Advisors Inc.

Pacer Advisors Inc. lowered its stake in Medtronic plc (NYSE:MDT) by 2.4% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 87,836 shares of the medical technology company’s stock after selling 2,182 shares during the quarter. Pacer Advisors Inc.’s holdings in Medtronic were worth $7,236,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. Bollard Group LLC lifted its holdings in shares of Medtronic by 1.8% in the 2nd quarter. Bollard Group LLC now owns 6,955 shares of the medical technology company’s stock worth $613,000 after acquiring an additional 121 shares during the last quarter. DT Investment Partners LLC lifted its stake in Medtronic by 1.0% during the second quarter. DT Investment Partners LLC now owns 12,076 shares of the medical technology company’s stock worth $1,059,000 after purchasing an additional 124 shares in the last quarter. SRS Capital Advisors Inc. boosted its position in shares of Medtronic by 19.6% during the second quarter. SRS Capital Advisors Inc. now owns 782 shares of the medical technology company’s stock worth $69,000 after buying an additional 128 shares during the period. Modera Wealth Management LLC boosted its position in shares of Medtronic by 3.9% during the third quarter. Modera Wealth Management LLC now owns 3,537 shares of the medical technology company’s stock worth $277,000 after buying an additional 133 shares during the period. Finally, Washington Trust Advisors Inc. grew its stake in shares of Medtronic by 7.1% in the third quarter. Washington Trust Advisors Inc. now owns 2,102 shares of the medical technology company’s stock valued at $165,000 after buying an additional 140 shares in the last quarter. Hedge funds and other institutional investors own 82.06% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on the company. Mizuho increased their target price on Medtronic from $95.00 to $98.00 and gave the stock a “buy” rating in a research note on Wednesday, February 21st. Oppenheimer raised their price objective on shares of Medtronic from $89.00 to $92.00 and gave the company a “market perform” rating in a research note on Wednesday, February 21st. Truist Financial upped their target price on shares of Medtronic from $87.00 to $90.00 and gave the stock a “hold” rating in a research note on Wednesday, February 21st. Finally, Royal Bank of Canada reissued a “sector perform” rating and issued a $92.00 price target on shares of Medtronic in a research report on Wednesday, February 21st. One analyst has rated the stock with a sell rating, four have issued a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat, Medtronic presently has a consensus rating of “Moderate Buy” and a consensus price target of $94.91.

Insider Activity at Medtronic

In other Medtronic news, EVP Sean Salmon sold 30,695 shares of the stock in a transaction that occurred on Wednesday, February 21st. The shares were sold at an average price of $85.13, for a total value of $2,613,065.35. Following the transaction, the executive vice president now directly owns 48,289 shares in the company, valued at $4,110,842.57. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.30% of the stock is currently owned by corporate insiders.

Medtronic Trading Up 3.8 %

Shares of NYSE:MDT opened at $86.92 on Thursday. The company has a market cap of $115.41 billion, a PE ratio of 27.68, a P/E/G ratio of 2.85 and a beta of 0.76. The company’s 50 day moving average is $85.21 and its two-hundred day moving average is $80.68. Medtronic plc has a 52 week low of $68.84 and a 52 week high of $92.02. The company has a current ratio of 2.30, a quick ratio of 1.71 and a debt-to-equity ratio of 0.46.

Medtronic (NYSE:MDT) last posted its earnings results on Tuesday, February 20th. The medical technology company reported $1.30 EPS for the quarter, beating the consensus estimate of $1.26 by $0.04. Medtronic had a return on equity of 13.71% and a net margin of 13.00%. The firm had revenue of $8.09 billion for the quarter, compared to analyst estimates of $7.95 billion. During the same quarter in the prior year, the company posted $1.30 earnings per share. Medtronic’s revenue for the quarter was up 4.7% compared to the same quarter last year. Equities analysts predict that Medtronic plc will post 5.2 earnings per share for the current fiscal year.

Medtronic Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, April 12th. Investors of record on Friday, March 22nd will be paid a dividend of $0.69 per share. This represents a $2.76 annualized dividend and a yield of 3.18%. The ex-dividend date of this dividend is Thursday, March 21st. Medtronic’s payout ratio is 87.90%.

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.