Dumont & Blake Investment Advisors LLC Lowers Stock Position in Medtronic plc (NYSE:MDT)

Dumont & Blake Investment Advisors LLC reduced its stake in Medtronic plc (NYSE:MDTFree Report) by 6.5% during the fourth quarter, HoldingsChannel reports. The firm owned 11,395 shares of the medical technology company’s stock after selling 795 shares during the period. Dumont & Blake Investment Advisors LLC’s holdings in Medtronic were worth $939,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Fortitude Family Office LLC purchased a new stake in Medtronic in the fourth quarter valued at approximately $25,000. Hartford Financial Management Inc. raised its stake in Medtronic by 425.0% in the third quarter. Hartford Financial Management Inc. now owns 315 shares of the medical technology company’s stock valued at $25,000 after purchasing an additional 255 shares in the last quarter. Financial Gravity Asset Management Inc. grew its position in Medtronic by 317.0% during the third quarter. Financial Gravity Asset Management Inc. now owns 367 shares of the medical technology company’s stock valued at $29,000 after acquiring an additional 279 shares during the last quarter. Fairfield Bush & CO. bought a new position in Medtronic during the second quarter valued at approximately $32,000. Finally, Certified Advisory Corp bought a new position in Medtronic during the first quarter valued at approximately $31,000. 82.06% of the stock is owned by hedge funds and other institutional investors.

Medtronic Trading Down 0.5 %

Shares of Medtronic stock traded down $0.42 on Wednesday, hitting $84.78. The stock had a trading volume of 3,754,042 shares, compared to its average volume of 6,249,671. The company has a quick ratio of 1.71, a current ratio of 2.30 and a debt-to-equity ratio of 0.46. Medtronic plc has a one year low of $68.84 and a one year high of $92.02. The stock has a market cap of $112.57 billion, a price-to-earnings ratio of 27.13, a PEG ratio of 2.98 and a beta of 0.76. The stock’s 50-day simple moving average is $85.24 and its two-hundred day simple moving average is $80.87.

Medtronic (NYSE:MDTGet Free Report) last released its quarterly earnings results on Tuesday, February 20th. The medical technology company reported $1.30 earnings per share for the quarter, beating the consensus estimate of $1.26 by $0.04. The business had revenue of $8.09 billion for the quarter, compared to analysts’ expectations of $7.95 billion. Medtronic had a net margin of 13.00% and a return on equity of 13.71%. The firm’s revenue for the quarter was up 4.7% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.30 earnings per share. As a group, sell-side analysts predict that Medtronic plc will post 5.2 EPS for the current year.

Medtronic Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, April 12th. Investors of record on Friday, March 22nd will be issued a $0.69 dividend. This represents a $2.76 annualized dividend and a yield of 3.26%. The ex-dividend date is Thursday, March 21st. Medtronic’s dividend payout ratio (DPR) is currently 87.90%.

Wall Street Analyst Weigh In

MDT has been the topic of a number of recent research reports. Oppenheimer increased their price target on shares of Medtronic from $89.00 to $92.00 and gave the company a “market perform” rating in a research report on Wednesday, February 21st. Mizuho increased their price target on shares of Medtronic from $95.00 to $98.00 and gave the company a “buy” rating in a research report on Wednesday, February 21st. Royal Bank of Canada reiterated a “sector perform” rating and set a $92.00 price target on shares of Medtronic in a research report on Wednesday, February 21st. Finally, Truist Financial increased their price target on shares of Medtronic from $87.00 to $90.00 and gave the company a “hold” rating in a research report on Wednesday, February 21st. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat, Medtronic currently has a consensus rating of “Moderate Buy” and a consensus price target of $94.91.

Get Our Latest Report on MDT

Insider Activity at Medtronic

In related news, EVP Sean Salmon sold 30,695 shares of Medtronic stock in a transaction 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 sale, the executive vice president now owns 48,289 shares in the company, valued at $4,110,842.57. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 0.30% of the stock is currently owned by company insiders.

Medtronic Profile

(Free Report)

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.

See Also

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Institutional Ownership by Quarter for Medtronic (NYSE:MDT)

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