Focus Financial Network Inc. Reduces Position in Medtronic plc (NYSE:MDT)

Focus Financial Network Inc. lessened its stake in shares of Medtronic plc (NYSE:MDT) by 1.2% during the 4th quarter, Holdings Channel reports. The firm owned 34,769 shares of the medical technology company’s stock after selling 418 shares during the quarter. Focus Financial Network Inc.’s holdings in Medtronic were worth $2,777,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently bought and sold shares of the company. Procyon Advisors LLC lifted its stake in Medtronic by 8.9% during the 3rd quarter. Procyon Advisors LLC now owns 16,402 shares of the medical technology company’s stock valued at $1,476,000 after acquiring an additional 1,335 shares during the period. ORG Wealth Partners LLC acquired a new stake in Medtronic during the 3rd quarter valued at approximately $234,000. CX Institutional lifted its stake in Medtronic by 9.1% during the 3rd quarter. CX Institutional now owns 7,290 shares of the medical technology company’s stock valued at $656,000 after acquiring an additional 608 shares during the period. First Pacific Financial lifted its stake in shares of Medtronic by 5.1% in the 3rd quarter. First Pacific Financial now owns 10,115 shares of the medical technology company’s stock valued at $911,000 after purchasing an additional 490 shares during the period. Finally, Lynch & Associates IN lifted its stake in shares of Medtronic by 15.8% in the 3rd quarter. Lynch & Associates IN now owns 7,324 shares of the medical technology company’s stock valued at $659,000 after purchasing an additional 1,000 shares during the period. Hedge funds and other institutional investors own 82.06% of the company’s stock.

Analyst Ratings Changes

MDT has been the subject of several analyst reports. Truist Financial decreased their target price on shares of Medtronic from $93.00 to $89.00 and set a “hold” rating for the company in a research note on Wednesday, December 18th. Sanford C. Bernstein boosted their target price on shares of Medtronic from $96.00 to $97.00 and gave the company an “outperform” rating in a research note on Wednesday, November 20th. Barclays boosted their target price on shares of Medtronic from $105.00 to $109.00 and gave the company an “overweight” rating in a research note on Tuesday, November 26th. Wells Fargo & Company decreased their target price on shares of Medtronic from $106.00 to $98.00 and set an “overweight” rating for the company in a research note on Wednesday, November 20th. Finally, JPMorgan Chase & Co. decreased their target price on shares of Medtronic from $99.00 to $96.00 and set a “neutral” rating for the company in a research note on Friday, November 15th. 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. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $95.00.

Insiders Place Their Bets

In other Medtronic news, EVP Brett A. Wall sold 9,850 shares of the stock in a transaction dated Wednesday, January 8th. The shares were sold at an average price of $80.41, for a total transaction of $792,038.50. Following the completion of the transaction, the executive vice president now owns 40,708 shares of the company’s stock, valued at $3,273,330.28. This trade represents a 19.48 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 0.20% of the stock is currently owned by insiders.

Medtronic Trading Up 0.4 %

Shares of MDT opened at $91.18 on Wednesday. The company has a current ratio of 1.84, a quick ratio of 1.39 and a debt-to-equity ratio of 0.51. Medtronic plc has a 12-month low of $75.96 and a 12-month high of $93.08. The firm has a 50-day moving average price of $84.93 and a 200 day moving average price of $86.56. The firm has a market capitalization of $116.92 billion, a P/E ratio of 27.88, a P/E/G ratio of 2.57 and a beta of 0.84.

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

Medtronic Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, January 10th. Investors of record on Friday, December 27th were issued a $0.70 dividend. This represents a $2.80 dividend on an annualized basis and a dividend yield of 3.07%. The ex-dividend date of this dividend was Friday, December 27th. Medtronic’s dividend payout ratio is currently 85.63%.

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.