Dudley Capital Management LLC Lowers Stock Position in Medtronic plc (NYSE:MDT)

Dudley Capital Management LLC reduced its position in Medtronic plc (NYSE:MDT) by 30.6% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 10,627 shares of the medical technology company’s stock after selling 4,690 shares during the quarter. Dudley Capital Management LLC’s holdings in Medtronic were worth $849,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also bought and sold shares of MDT. Mainstream Capital Management LLC bought a new stake in Medtronic during the 4th quarter valued at $26,000. Stephens Consulting LLC lifted its position in Medtronic by 145.7% during the fourth quarter. Stephens Consulting LLC now owns 344 shares of the medical technology company’s stock valued at $27,000 after buying an additional 204 shares during the period. Rakuten Securities Inc. lifted its position in Medtronic by 753.8% during the 4th quarter. Rakuten Securities Inc. now owns 333 shares of the medical technology company’s stock valued at $27,000 after acquiring an additional 294 shares during the period. J. Stern & Co. LLP purchased a new position in shares of Medtronic during the third quarter valued at approximately $30,000. Finally, Fiduciary Advisors Inc. purchased a new position in Medtronic during the fourth quarter valued at $36,000. 82.06% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other Medtronic news, EVP Brett A. Wall sold 12,437 shares of the stock in a transaction dated Friday, January 24th. The shares were sold at an average price of $90.00, for a total transaction of $1,119,330.00. Following the completion of the sale, the executive vice president now directly owns 40,979 shares of the company’s stock, valued at approximately $3,688,110. This represents a 23.28 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 0.20% of the stock is owned by company insiders.

Medtronic Price Performance

MDT stock opened at $90.16 on Tuesday. The stock has a market cap of $115.64 billion, a PE ratio of 27.40, a P/E/G ratio of 2.22 and a beta of 0.80. Medtronic plc has a 12 month low of $75.96 and a 12 month high of $96.25. The company has a 50-day moving average price of $90.84 and a 200 day moving average price of $88.05. 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 issued its earnings results on Tuesday, February 18th. The medical technology company reported $1.39 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.36 by $0.03. The firm had revenue of $8.29 billion during the quarter, compared to analyst estimates of $8.33 billion. Medtronic had a net margin of 12.83% and a return on equity of 14.07%. Equities research analysts anticipate that Medtronic plc will post 5.46 earnings per share for the current year.

Medtronic Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, April 11th. Shareholders of record on Friday, March 28th will be issued a dividend of $0.70 per share. The ex-dividend date of this dividend is Friday, March 28th. This represents a $2.80 dividend on an annualized basis and a yield of 3.11%. Medtronic’s dividend payout ratio is currently 85.11%.

Analysts Set New Price Targets

Several research analysts have recently issued reports on MDT shares. Truist Financial dropped their target price on shares of Medtronic from $93.00 to $89.00 and set a “hold” rating on the stock in a research note on Wednesday, December 18th. Citigroup upgraded Medtronic from a “neutral” rating to a “buy” rating and boosted their price target for the company from $92.00 to $107.00 in a research note on Tuesday, March 4th. Needham & Company LLC restated a “hold” rating on shares of Medtronic in a research note on Wednesday, February 19th. Royal Bank of Canada restated an “outperform” rating and set a $105.00 price objective on shares of Medtronic in a research report on Wednesday, February 19th. Finally, Robert W. Baird lifted their price objective on shares of Medtronic from $90.00 to $91.00 and gave the company a “neutral” rating in a research report on Wednesday, February 19th. One analyst has rated the stock with a sell rating, eight have given a hold rating, six have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $96.07.

About Medtronic

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.