Coastwise Capital Group LLC Sells 200 Shares of Medtronic plc (NYSE:MDT)

Coastwise Capital Group LLC trimmed its stake in Medtronic plc (NYSE:MDT) by 3.1% during the 4th quarter, HoldingsChannel reports. The fund owned 6,300 shares of the medical technology company’s stock after selling 200 shares during the quarter. Coastwise Capital Group LLC’s holdings in Medtronic were worth $503,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of the company. Intergy Private Wealth LLC bought a new position in shares of Medtronic in the fourth quarter worth approximately $202,000. Fiduciary Advisors Inc. bought a new position in Medtronic in the 4th quarter valued at approximately $36,000. Cibc World Market Inc. lifted its position in Medtronic by 3.7% in the 4th quarter. Cibc World Market Inc. now owns 272,444 shares of the medical technology company’s stock valued at $21,763,000 after acquiring an additional 9,689 shares in the last quarter. Crews Bank & Trust bought a new position in Medtronic in the 4th quarter valued at approximately $755,000. Finally, OLD Second National Bank of Aurora lifted its holdings in shares of Medtronic by 0.3% during the fourth quarter. OLD Second National Bank of Aurora now owns 36,303 shares of the medical technology company’s stock valued at $2,900,000 after purchasing an additional 121 shares in the last quarter. Institutional investors own 82.06% of the company’s stock.

Insider Transactions at Medtronic

In related news, EVP Brett A. Wall sold 9,850 shares of the business’s stock in a transaction on Wednesday, January 8th. The shares were sold at an average price of $80.41, for a total value of $792,038.50. Following the sale, the executive vice president now owns 40,708 shares in the company, valued at approximately $3,273,330.28. The trade was a 19.48 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 0.20% of the company’s stock.

Medtronic Stock Up 0.7 %

Shares of MDT stock opened at $92.01 on Friday. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.84 and a quick ratio of 1.39. The company’s fifty day moving average price is $84.29 and its 200-day moving average price is $85.91. The company has a market capitalization of $117.98 billion, a price-to-earnings ratio of 28.14, a PEG ratio of 2.59 and a beta of 0.83. Medtronic plc has a one year low of $75.96 and a one year high of $93.08.

Medtronic (NYSE:MDT) last released its quarterly earnings data on Tuesday, November 19th. The medical technology company reported $1.26 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.25 by $0.01. The firm had revenue of $8.40 billion for the quarter, compared to analysts’ expectations of $8.27 billion. Medtronic had a net margin of 13.00% and a return on equity of 13.79%. The company’s revenue for the quarter was up 5.2% compared to the same quarter last year. During the same quarter last year, the business posted $1.25 earnings per share. Sell-side analysts expect that Medtronic plc will post 5.45 EPS for the current fiscal year.

Medtronic Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, January 10th. Shareholders of record on Friday, December 27th were issued a $0.70 dividend. The ex-dividend date was Friday, December 27th. This represents a $2.80 dividend on an annualized basis and a yield of 3.04%. Medtronic’s dividend payout ratio is currently 85.63%.

Analysts Set New Price Targets

A number of research analysts recently weighed in on MDT shares. Needham & Company LLC restated a “hold” rating on shares of Medtronic in a research report on Monday, November 18th. Wells Fargo & Company lowered their price target on Medtronic from $106.00 to $98.00 and set an “overweight” rating on the stock in a report on Wednesday, November 20th. Robert W. Baird dropped their price target on Medtronic from $96.00 to $93.00 and set a “neutral” rating on the stock in a research note on Wednesday, November 20th. Truist Financial dropped their target price on Medtronic from $93.00 to $89.00 and set a “hold” rating on the stock in a research report on Wednesday, December 18th. Finally, Sanford C. Bernstein raised their target price on Medtronic from $96.00 to $97.00 and gave the stock an “outperform” rating in a research report on Wednesday, November 20th. One analyst has rated the stock with a sell rating, nine have issued a hold rating, six have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, Medtronic presently has a consensus rating of “Hold” and an average target price of $95.00.

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.