Good Life Advisors LLC Sells 961 Shares of Medtronic plc (NYSE:MDT)

Good Life Advisors LLC cut its stake in Medtronic plc (NYSE:MDT) by 24.8% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,909 shares of the medical technology company’s stock after selling 961 shares during the period. Good Life Advisors LLC’s holdings in Medtronic were worth $232,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in MDT. International Assets Investment Management LLC boosted its holdings in shares of Medtronic by 8,908.6% during the 3rd quarter. International Assets Investment Management LLC now owns 1,298,415 shares of the medical technology company’s stock worth $116,896,000 after buying an additional 1,284,002 shares in the last quarter. CENTRAL TRUST Co boosted its holdings in shares of Medtronic by 3.5% during the 3rd quarter. CENTRAL TRUST Co now owns 10,076 shares of the medical technology company’s stock worth $907,000 after buying an additional 342 shares in the last quarter. Assenagon Asset Management S.A. boosted its holdings in shares of Medtronic by 1.8% during the 3rd quarter. Assenagon Asset Management S.A. now owns 58,474 shares of the medical technology company’s stock worth $5,264,000 after buying an additional 1,034 shares in the last quarter. Mcdaniel Terry & Co. boosted its holdings in shares of Medtronic by 3.0% during the 3rd quarter. Mcdaniel Terry & Co. now owns 8,568 shares of the medical technology company’s stock worth $771,000 after buying an additional 250 shares in the last quarter. Finally, Global Trust Asset Management LLC boosted its holdings in shares of Medtronic by 7.6% during the 3rd quarter. Global Trust Asset Management LLC now owns 3,665 shares of the medical technology company’s stock worth $330,000 after buying an additional 259 shares in the last quarter. 82.06% of the stock is currently owned by institutional investors.

Insider Activity

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

Analyst Upgrades and Downgrades

A number of research firms have issued reports on MDT. Royal Bank of Canada restated an “outperform” rating and set a $105.00 price target on shares of Medtronic in a report on Wednesday. JPMorgan Chase & Co. cut their price target on Medtronic from $99.00 to $96.00 and set a “neutral” rating on the stock in a report on Friday, November 15th. Truist Financial cut their target price on Medtronic from $93.00 to $89.00 and set a “hold” rating on the stock in a report on Wednesday, December 18th. Wells Fargo & Company cut their target price on Medtronic from $106.00 to $98.00 and set an “overweight” rating on the stock in a report on Wednesday, November 20th. Finally, Sanford C. Bernstein increased their target price on Medtronic from $96.00 to $97.00 and gave the stock an “outperform” rating in a report on Wednesday, November 20th. One analyst has rated the stock with a sell rating, nine have given a hold rating, five have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $95.00.

Medtronic Trading Up 2.3 %

NYSE MDT opened at $89.95 on Friday. The firm has a market capitalization of $115.34 billion, a P/E ratio of 27.34, a PEG ratio of 2.46 and a beta of 0.84. The business has a fifty day simple moving average of $86.08 and a 200 day simple moving average of $87.10. Medtronic plc has a 12 month low of $75.96 and a 12 month high of $93.08. The company has a current ratio of 1.90, a quick ratio of 1.39 and a debt-to-equity ratio of 0.48.

Medtronic (NYSE:MDT) last released its quarterly earnings results on Tuesday, February 18th. The medical technology company reported $1.39 EPS for the quarter, beating analysts’ consensus estimates of $1.36 by $0.03. The business had revenue of $8.29 billion during the quarter, compared to analyst estimates of $8.33 billion. Medtronic had a return on equity of 14.07% and a net margin of 12.83%. On average, analysts predict that Medtronic plc will post 5.46 EPS for the current fiscal year.

Medtronic Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, January 10th. Stockholders of record on Friday, December 27th were given a dividend of $0.70 per share. This represents a $2.80 annualized dividend and a dividend yield of 3.11%. The ex-dividend date was Friday, December 27th. Medtronic’s dividend payout ratio is presently 85.11%.

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.