Robertson Stephens Wealth Management LLC Sells 3,067 Shares of Medtronic plc (NYSE:MDT)

Robertson Stephens Wealth Management LLC lessened its stake in shares of Medtronic plc (NYSE:MDT) by 35.7% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 5,519 shares of the medical technology company’s stock after selling 3,067 shares during the period. Robertson Stephens Wealth Management LLC’s holdings in Medtronic were worth $458,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in MDT. Wilbanks Smith & Thomas Asset Management LLC grew its holdings in shares of Medtronic by 21.8% during the fourth quarter. Wilbanks Smith & Thomas Asset Management LLC now owns 8,170 shares of the medical technology company’s stock valued at $673,000 after buying an additional 1,461 shares during the last quarter. Rogco LP boosted its stake in Medtronic by 1.9% during the 4th quarter. Rogco LP now owns 6,814 shares of the medical technology company’s stock valued at $561,000 after purchasing an additional 129 shares during the last quarter. Berry Wealth Group LP bought a new stake in shares of Medtronic in the 4th quarter worth $2,143,000. Hexagon Capital Partners LLC raised its stake in shares of Medtronic by 16.3% in the fourth quarter. Hexagon Capital Partners LLC now owns 3,258 shares of the medical technology company’s stock worth $268,000 after purchasing an additional 456 shares during the last quarter. Finally, Arnhold LLC lifted its holdings in shares of Medtronic by 56.6% during the fourth quarter. Arnhold LLC now owns 22,140 shares of the medical technology company’s stock valued at $1,824,000 after purchasing an additional 8,000 shares in the last quarter. Hedge funds and other institutional investors own 82.06% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms recently commented on MDT. Oppenheimer lifted their price objective on Medtronic from $89.00 to $92.00 and gave the stock a “market perform” rating in a report on Wednesday, February 21st. Mizuho increased their price objective on shares of Medtronic from $95.00 to $98.00 and gave the company a “buy” rating in a research report on Wednesday, February 21st. Truist Financial raised their target price on shares of Medtronic from $87.00 to $90.00 and gave the stock a “hold” rating in a report on Wednesday, February 21st. Finally, Royal Bank of Canada reiterated a “sector perform” rating and set a $92.00 target price on shares of Medtronic in a research note on Wednesday, February 21st. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $94.91.

Insider Transactions at Medtronic

In related news, EVP Michael Marinaro sold 854 shares of Medtronic 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 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 can be accessed through this link. In other Medtronic news, EVP Sean Salmon sold 30,695 shares of the 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 completion of 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 SEC, which is available at this link. Also, EVP Michael Marinaro sold 854 shares of Medtronic stock in a transaction that occurred 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 sale, the executive vice president now owns 27,925 shares in the company, valued at approximately $2,321,684.50. The disclosure for this sale can be found here. Corporate insiders own 0.30% of the company’s stock.

Medtronic Price Performance

Shares of Medtronic stock opened at $81.68 on Friday. The stock’s fifty day moving average is $83.16 and its 200 day moving average is $81.37. Medtronic plc has a one year low of $68.84 and a one year high of $91.00. 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 $108.46 billion, a P/E ratio of 26.01, a P/E/G ratio of 2.64 and a beta of 0.78.

Medtronic (NYSE:MDT) last posted 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. The firm had revenue of $8.09 billion for the quarter, compared to the consensus estimate of $7.95 billion. Medtronic had a return on equity of 13.71% and a net margin of 13.00%. The business’s revenue for the quarter was up 4.7% compared to the same quarter last year. During the same quarter last year, the company earned $1.30 earnings per share. Sell-side analysts anticipate that Medtronic plc will post 5.2 earnings per share for the current year.

Medtronic Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, April 12th. Shareholders of record on Friday, March 22nd were given a $0.69 dividend. The ex-dividend date of this dividend was Thursday, March 21st. This represents a $2.76 dividend on an annualized basis and a dividend yield of 3.38%. Medtronic’s payout ratio is currently 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.