Prudent Man Advisors LLC Sells 1,035 Shares of Medtronic plc (NYSE:MDT)

Prudent Man Advisors LLC lessened its position in Medtronic plc (NYSE:MDT) by 14.0% during the fourth quarter, Holdings Channel reports. The institutional investor owned 6,357 shares of the medical technology company’s stock after selling 1,035 shares during the quarter. Prudent Man Advisors LLC’s holdings in Medtronic were worth $508,000 as of its most recent SEC filing.

Several other institutional investors have also recently bought and sold shares of the company. Copley Financial Group Inc. bought a new position in shares of Medtronic in the 3rd quarter valued at about $694,000. Olstein Capital Management L.P. grew its stake in Medtronic by 19.2% in the third quarter. Olstein Capital Management L.P. now owns 87,000 shares of the medical technology company’s stock valued at $7,833,000 after purchasing an additional 14,000 shares in the last quarter. Franklin Street Advisors Inc. NC increased its position in shares of Medtronic by 32.6% during the 4th quarter. Franklin Street Advisors Inc. NC now owns 73,517 shares of the medical technology company’s stock worth $5,873,000 after purchasing an additional 18,057 shares during the last quarter. Y Intercept Hong Kong Ltd boosted its holdings in shares of Medtronic by 322.6% in the 3rd quarter. Y Intercept Hong Kong Ltd now owns 73,593 shares of the medical technology company’s stock valued at $6,626,000 after buying an additional 56,178 shares during the last quarter. Finally, Czech National Bank increased its holdings in Medtronic by 6.4% during the fourth quarter. Czech National Bank now owns 278,065 shares of the medical technology company’s stock worth $22,212,000 after buying an additional 16,786 shares during the last quarter. Institutional investors own 82.06% of the company’s stock.

Medtronic Price Performance

Shares of NYSE:MDT opened at $92.00 on Friday. The company has a debt-to-equity ratio of 0.48, a quick ratio of 1.39 and a current ratio of 1.90. Medtronic plc has a 52 week low of $75.96 and a 52 week high of $93.08. The firm has a market cap of $117.97 billion, a PE ratio of 27.96, a price-to-earnings-growth ratio of 2.22 and a beta of 0.84. The firm’s fifty day moving average is $87.08 and its 200-day moving average is $87.42.

Medtronic (NYSE:MDT) last announced its earnings results on Tuesday, February 18th. The medical technology company reported $1.39 EPS for the quarter, topping the consensus estimate of $1.36 by $0.03. The firm had revenue of $8.29 billion for the quarter, compared to the consensus estimate of $8.33 billion. Medtronic had a return on equity of 14.07% and a net margin of 12.83%. Sell-side analysts predict that Medtronic plc will post 5.46 earnings per share for the current year.

Medtronic Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, January 10th. Shareholders of record on Friday, December 27th were given a dividend of $0.70 per share. This represents a $2.80 dividend on an annualized basis and a yield of 3.04%. The ex-dividend date of this dividend was Friday, December 27th. Medtronic’s dividend payout ratio is presently 85.11%.

Wall Street Analysts Forecast Growth

MDT has been the topic of a number of recent analyst reports. Robert W. Baird boosted their price target on Medtronic from $90.00 to $91.00 and gave the stock a “neutral” rating in a research report on Wednesday, February 19th. Sanford C. Bernstein increased their target price on shares of Medtronic from $96.00 to $97.00 and gave the stock an “outperform” rating in a research report on Wednesday, November 20th. Needham & Company LLC reiterated a “hold” rating on shares of Medtronic in a research report on Wednesday, February 19th. Barclays boosted their price target on Medtronic from $105.00 to $109.00 and gave the stock an “overweight” rating in a report on Tuesday, November 26th. Finally, Truist Financial lowered their target price on Medtronic from $93.00 to $89.00 and set a “hold” rating for the company in a research note on Wednesday, December 18th. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating, five have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $95.00.

Insiders Place Their Bets

In other 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 directly owns 40,979 shares in the company, valued at $3,688,110. This represents a 23.28 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Company insiders own 0.20% of the company’s stock.

Medtronic 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.