Jacobs & Co. CA Sells 1,579 Shares of Medtronic plc (NYSE:MDT)

Jacobs & Co. CA lessened its position in Medtronic plc (NYSE:MDT) by 4.0% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 37,613 shares of the medical technology company’s stock after selling 1,579 shares during the quarter. Jacobs & Co. CA’s holdings in Medtronic were worth $3,098,000 at the end of the most recent quarter.

Several other institutional investors have also recently bought and sold shares of the company. Fairfield Bush & CO. acquired a new position in Medtronic in the first quarter valued at about $47,000. MAS Advisors LLC boosted its position in Medtronic by 10.3% in the first quarter. MAS Advisors LLC now owns 2,388 shares of the medical technology company’s stock valued at $266,000 after buying an additional 223 shares in the last quarter. LSV Asset Management lifted its position in shares of Medtronic by 34.5% during the first quarter. LSV Asset Management now owns 7,400 shares of the medical technology company’s stock worth $821,000 after purchasing an additional 1,900 shares in the last quarter. NewEdge Advisors LLC lifted its position in shares of Medtronic by 22.8% during the first quarter. NewEdge Advisors LLC now owns 74,914 shares of the medical technology company’s stock worth $8,312,000 after purchasing an additional 13,895 shares in the last quarter. Finally, Kinneret Advisory LLC lifted its position in shares of Medtronic by 2.3% during the first quarter. Kinneret Advisory LLC now owns 15,340 shares of the medical technology company’s stock worth $1,712,000 after purchasing an additional 343 shares in the last quarter. Institutional investors own 82.06% of the company’s stock.

Medtronic Stock Performance

NYSE MDT opened at $86.92 on Thursday. The firm has a 50-day moving average of $85.21 and a 200-day moving average of $80.68. The company has a debt-to-equity ratio of 0.46, a quick ratio of 1.71 and a current ratio of 2.30. The stock has a market cap of $115.41 billion, a PE ratio of 27.68, a P/E/G ratio of 2.86 and a beta of 0.76. Medtronic plc has a 52-week low of $68.84 and a 52-week high of $92.02.

Medtronic (NYSE:MDT) last issued 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. The company had revenue of $8.09 billion during 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 business’s revenue for the quarter was up 4.7% compared to the same quarter last year. During the same period in the previous year, the company earned $1.30 EPS. On average, sell-side analysts anticipate that Medtronic plc will post 5.2 EPS for the current year.

Medtronic Announces Dividend

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 dividend of $0.69 per share. This represents a $2.76 annualized dividend and a dividend yield of 3.18%. The ex-dividend date of this dividend is Thursday, March 21st. Medtronic’s dividend payout ratio (DPR) is presently 87.90%.

Insider Activity at Medtronic

In related news, EVP Sean Salmon sold 30,695 shares of Medtronic stock in a transaction that occurred 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 directly owns 48,289 shares of the company’s stock, valued at approximately $4,110,842.57. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.30% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

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

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.