Guyasuta Investment Advisors Inc. Lowers Position in Medtronic plc (NYSE:MDT)

Guyasuta Investment Advisors Inc. lessened its position in Medtronic plc (NYSE:MDT) by 6.8% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 3,255 shares of the medical technology company’s stock after selling 237 shares during the quarter. Guyasuta Investment Advisors Inc.’s holdings in Medtronic were worth $268,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds also recently made changes to their positions in the company. HHM Wealth Advisors LLC lifted its stake in shares of Medtronic by 7.2% in the 4th quarter. HHM Wealth Advisors LLC now owns 2,456 shares of the medical technology company’s stock valued at $202,000 after purchasing an additional 164 shares during the period. Convergence Investment Partners LLC purchased a new position in shares of Medtronic in the 4th quarter valued at approximately $200,000. Vance Wealth Inc. raised its stake in Medtronic by 34.2% during the fourth quarter. Vance Wealth Inc. now owns 76,418 shares of the medical technology company’s stock valued at $6,295,000 after buying an additional 19,473 shares during the last quarter. Stonebrook Private Inc. purchased a new position in Medtronic during the fourth quarter valued at $1,916,000. Finally, PGGM Investments raised its stake in Medtronic by 9.4% during the fourth quarter. PGGM Investments now owns 1,104,318 shares of the medical technology company’s stock valued at $90,974,000 after buying an additional 94,617 shares during the last quarter. Hedge funds and other institutional investors own 82.06% of the company’s stock.

Insider Buying and Selling at Medtronic

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

Analysts Set New Price Targets

A number of brokerages have issued reports on MDT. Royal Bank of Canada reiterated a “sector perform” rating and set a $92.00 price objective on shares of Medtronic in a research note on Wednesday, February 21st. Truist Financial lifted their price objective on Medtronic from $87.00 to $90.00 and gave the company a “hold” rating in a research note on Wednesday, February 21st. Oppenheimer lifted their price objective on Medtronic from $89.00 to $92.00 and gave the company a “market perform” rating in a research note on Wednesday, February 21st. Finally, Mizuho boosted their price target on Medtronic from $95.00 to $98.00 and gave the stock a “buy” rating in a research note 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 assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Medtronic presently has an average rating of “Hold” and an average target price of $94.91.

Medtronic Stock Performance

Shares of MDT opened at $80.86 on Tuesday. The company has a debt-to-equity ratio of 0.46, a current ratio of 2.30 and a quick ratio of 1.71. Medtronic plc has a one year low of $68.84 and a one year high of $92.02. The firm has a market capitalization of $107.37 billion, a P/E ratio of 25.75, a PEG ratio of 2.73 and a beta of 0.76. The business has a fifty day moving average of $83.46 and a 200 day moving average of $81.32.

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

Medtronic Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, April 12th. Shareholders of record on Friday, March 22nd were issued a dividend of $0.69 per share. This represents a $2.76 annualized dividend and a yield of 3.41%. The ex-dividend date was Thursday, March 21st. Medtronic’s dividend payout ratio is presently 87.90%.

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.