Blue Barn Wealth LLC Reduces Holdings in Medtronic plc (NYSE:MDT)

Blue Barn Wealth LLC decreased its position in shares of Medtronic plc (NYSE:MDT) by 22.6% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 4,759 shares of the medical technology company’s stock after selling 1,392 shares during the period. Blue Barn Wealth LLC’s holdings in Medtronic were worth $392,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. Fortitude Family Office LLC acquired a new stake in Medtronic in the fourth quarter valued at about $25,000. MeadowBrook Investment Advisors LLC purchased a new position in shares of Medtronic during the 4th quarter worth $27,000. Financial Gravity Asset Management Inc. boosted its stake in Medtronic by 317.0% in the 3rd quarter. Financial Gravity Asset Management Inc. now owns 367 shares of the medical technology company’s stock worth $29,000 after buying an additional 279 shares during the last quarter. Princeton Global Asset Management LLC purchased a new position in Medtronic during the third quarter worth approximately $31,000. Finally, Hartford Financial Management Inc. increased its stake in Medtronic by 52.1% during the fourth quarter. Hartford Financial Management Inc. now owns 479 shares of the medical technology company’s stock worth $39,000 after acquiring an additional 164 shares during the last quarter. Institutional investors and hedge funds own 82.06% of the company’s stock.

Insider Activity at Medtronic

In other news, EVP Sean Salmon sold 30,695 shares of the business’s stock in a transaction on Wednesday, February 21st. The shares were sold at an average price of $85.13, for a total transaction of $2,613,065.35. Following the sale, the executive vice president now owns 48,289 shares in the company, valued at approximately $4,110,842.57. The sale was disclosed in a document filed with the SEC, which is accessible through this link. In other news, EVP Michael Marinaro sold 854 shares of the stock in a transaction on Monday, April 8th. The stock was sold at an average price of $83.14, for a total transaction of $71,001.56. Following the transaction, the executive vice president now directly owns 27,925 shares of the company’s stock, valued at approximately $2,321,684.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Sean Salmon sold 30,695 shares of the stock in a transaction that occurred on Wednesday, February 21st. The stock was sold at an average price of $85.13, for a total transaction of $2,613,065.35. Following the completion of the sale, the executive vice president now directly owns 48,289 shares of the company’s stock, valued at $4,110,842.57. The disclosure for this sale can be found here. 0.30% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on MDT shares. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $92.00 price target on shares of Medtronic in a report on Wednesday, February 21st. Mizuho boosted their price target on Medtronic from $95.00 to $98.00 and gave the stock a “buy” rating in a research report on Wednesday, February 21st. Oppenheimer upped their price target on shares of Medtronic from $89.00 to $92.00 and gave the company a “market perform” rating in a report on Wednesday, February 21st. Finally, Truist Financial increased their price target on Medtronic from $87.00 to $90.00 and gave the company a “hold” rating in a research report on Wednesday, February 21st. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and six have issued a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $94.91.

Medtronic Stock Down 0.4 %

NYSE:MDT traded down $0.35 during trading hours on Wednesday, reaching $81.55. The company had a trading volume of 4,175,517 shares, compared to its average volume of 6,162,186. Medtronic plc has a twelve month low of $68.84 and a twelve month high of $91.00. The firm has a market cap of $108.28 billion, a price-to-earnings ratio of 26.01, a P/E/G ratio of 2.66 and a beta of 0.78. The company has a quick ratio of 1.71, a current ratio of 2.30 and a debt-to-equity ratio of 0.46. The business’s 50-day simple moving average is $83.01 and its two-hundred day simple moving average is $81.69.

Medtronic (NYSE:MDT) last issued its quarterly earnings data on Tuesday, February 20th. The medical technology company reported $1.30 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 return on equity of 13.71% and a net margin of 13.00%. The firm’s quarterly revenue was up 4.7% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.30 EPS. On average, equities analysts expect that Medtronic plc will post 5.2 earnings per share for the current year.

Medtronic Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, April 12th. Stockholders of record on Friday, March 22nd were paid a dividend of $0.69 per share. The ex-dividend date was Thursday, March 21st. This represents a $2.76 annualized dividend and a dividend yield of 3.38%. Medtronic’s dividend payout ratio (DPR) is presently 87.90%.

About Medtronic

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.