Nichols & Pratt Advisers LLP MA Sells 240 Shares of Medtronic plc (NYSE:MDT)

Nichols & Pratt Advisers LLP MA lowered its stake in Medtronic plc (NYSE:MDT) by 0.1% in the fourth quarter, Holdings Channel reports. The fund owned 166,611 shares of the medical technology company’s stock after selling 240 shares during the quarter. Medtronic accounts for approximately 1.0% of Nichols & Pratt Advisers LLP MA’s investment portfolio, making the stock its 29th largest holding. Nichols & Pratt Advisers LLP MA’s holdings in Medtronic were worth $13,725,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently made changes to their positions in the stock. Pzena Investment Management LLC increased its stake in shares of Medtronic by 112.8% in the third quarter. Pzena Investment Management LLC now owns 5,730,577 shares of the medical technology company’s stock valued at $449,048,000 after buying an additional 3,037,394 shares during the period. Morgan Stanley increased its position in shares of Medtronic by 9.2% during the third quarter. Morgan Stanley now owns 23,777,808 shares of the medical technology company’s stock worth $1,863,229,000 after buying an additional 1,994,123 shares during the period. Envestnet Asset Management Inc. increased its position in shares of Medtronic by 30.1% during the third quarter. Envestnet Asset Management Inc. now owns 5,181,266 shares of the medical technology company’s stock worth $406,004,000 after buying an additional 1,199,639 shares during the period. Caisse DE Depot ET Placement DU Quebec increased its position in shares of Medtronic by 78.4% during the third quarter. Caisse DE Depot ET Placement DU Quebec now owns 2,356,359 shares of the medical technology company’s stock worth $184,644,000 after buying an additional 1,035,747 shares during the period. Finally, International Assets Investment Management LLC increased its position in shares of Medtronic by 8,340.3% during the fourth quarter. International Assets Investment Management LLC now owns 1,038,579 shares of the medical technology company’s stock worth $85,558,000 after buying an additional 1,026,274 shares during the period. Institutional investors own 82.06% of the company’s stock.

Insider Buying and Selling

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

Analyst Upgrades and Downgrades

A number of research firms have commented on MDT. Oppenheimer raised their price target on shares of Medtronic from $89.00 to $92.00 and gave the stock a “market perform” rating in a report on Wednesday, February 21st. Royal Bank of Canada restated a “sector perform” rating and issued a $92.00 target price on shares of Medtronic in a report on Wednesday, February 21st. Truist Financial upped their price target on Medtronic from $87.00 to $90.00 and gave the stock a “hold” rating in a report on Wednesday, February 21st. Finally, Mizuho increased their price target on Medtronic from $95.00 to $98.00 and gave the company a “buy” 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 six have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $94.91.

Medtronic Trading Down 0.3 %

NYSE MDT traded down $0.28 during trading on Friday, hitting $82.48. 1,735,898 shares of the company’s stock traded hands, compared to its average volume of 6,106,222. Medtronic plc has a 12-month low of $68.84 and a 12-month high of $91.00. The company has a debt-to-equity ratio of 0.46, a current ratio of 2.30 and a quick ratio of 1.71. The stock has a fifty day moving average of $82.96 and a two-hundred day moving average of $81.70. The firm has a market cap of $109.52 billion, a P/E ratio of 26.22, a PEG ratio of 2.66 and a beta of 0.78.

Medtronic (NYSE:MDT) last announced its quarterly earnings results 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 analyst estimates of $7.95 billion. Medtronic had a net margin of 13.00% and a return on equity of 13.71%. The company’s revenue was up 4.7% on a year-over-year basis. During the same quarter last year, the firm earned $1.30 EPS. As a group, sell-side analysts expect that Medtronic plc will post 5.2 EPS for the current year.

Medtronic Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, April 12th. Stockholders of record on Friday, March 22nd were given a $0.69 dividend. The ex-dividend date was Thursday, March 21st. This represents a $2.76 dividend on an annualized basis and a dividend yield of 3.35%. Medtronic’s payout ratio is 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.