Medtronic plc (NYSE:MDT) Shares Sold by Lee Danner & Bass Inc.

Lee Danner & Bass Inc. decreased its holdings in shares of Medtronic plc (NYSE:MDT) by 8.2% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 124,605 shares of the medical technology company’s stock after selling 11,174 shares during the quarter. Medtronic comprises about 0.9% of Lee Danner & Bass Inc.’s investment portfolio, making the stock its 27th biggest position. Lee Danner & Bass Inc.’s holdings in Medtronic were worth $10,265,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. Fortitude Family Office LLC acquired a new stake in shares of Medtronic during the fourth quarter worth $25,000. Hartford Financial Management Inc. raised its position in shares of Medtronic by 425.0% in the 3rd quarter. Hartford Financial Management Inc. now owns 315 shares of the medical technology company’s stock worth $25,000 after buying an additional 255 shares during the period. Financial Gravity Asset Management Inc. raised its position in shares of 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 period. Princeton Global Asset Management LLC purchased a new position in shares of Medtronic in the 3rd quarter worth $31,000. Finally, SJS Investment Consulting Inc. raised its position in shares of Medtronic by 96.4% in the 3rd quarter. SJS Investment Consulting Inc. now owns 485 shares of the medical technology company’s stock worth $38,000 after buying an additional 238 shares during the period. Institutional investors and hedge funds own 82.06% of the company’s stock.

Analyst Ratings Changes

Several research analysts have commented on MDT shares. Truist Financial raised their price objective on Medtronic from $87.00 to $90.00 and gave the company a “hold” rating in a research report on Wednesday, February 21st. Mizuho raised their price objective on Medtronic from $95.00 to $98.00 and gave the company a “buy” rating in a research report on Wednesday, February 21st. Oppenheimer lifted their target price on Medtronic from $89.00 to $92.00 and gave the stock a “market perform” rating in a research report on Wednesday, February 21st. Finally, Royal Bank of Canada restated a “sector perform” rating and issued a $92.00 target price on shares of Medtronic in a research note on Wednesday, February 21st. One 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’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $94.91.

Medtronic Price Performance

Shares of NYSE MDT traded up $0.97 during trading on Monday, hitting $80.45. The company had a trading volume of 1,925,918 shares, compared to its average volume of 6,262,446. The company has a market cap of $106.82 billion, a P/E ratio of 25.47, a PEG ratio of 2.72 and a beta of 0.76. Medtronic plc has a 52 week low of $68.84 and a 52 week high of $92.02. The business’s 50-day moving average is $83.93 and its 200 day moving average is $81.08. The company has a debt-to-equity ratio of 0.46, a quick ratio of 1.71 and a current ratio of 2.30.

Medtronic (NYSE:MDT) last posted its quarterly earnings data on Tuesday, February 20th. The medical technology company reported $1.30 earnings per share for the quarter, topping the consensus estimate of $1.26 by $0.04. Medtronic had a net margin of 13.00% and a return on equity of 13.71%. The firm had revenue of $8.09 billion for the quarter, compared to analysts’ expectations of $7.95 billion. During the same period in the previous year, the company posted $1.30 EPS. The company’s quarterly revenue was up 4.7% compared to the same quarter last year. Equities research analysts predict that Medtronic plc will post 5.2 earnings per share for the current fiscal year.

Medtronic Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, April 12th. Shareholders of record on Friday, March 22nd were given a dividend of $0.69 per share. This represents a $2.76 annualized dividend and a yield of 3.43%. The ex-dividend date of this dividend was Thursday, March 21st. Medtronic’s payout ratio is 87.90%.

Insider Activity

In other news, EVP Michael Marinaro sold 854 shares of the business’s stock in a transaction on Monday, April 8th. The shares were 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 in the company, valued at approximately $2,321,684.50. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. In other news, EVP Sean Salmon sold 30,695 shares of the company’s stock in a transaction dated 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 completion of the transaction, the executive vice president now owns 48,289 shares of the company’s stock, valued at $4,110,842.57. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Michael Marinaro sold 854 shares of the company’s stock in a transaction dated Monday, April 8th. The shares were 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 disclosure for this sale can be found here. 0.30% of the stock is currently owned by corporate insiders.

Medtronic Company 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.