Sicart Associates LLC Cuts Stock Holdings in Medtronic plc (NYSE:MDT)

Sicart Associates LLC lowered its stake in shares of Medtronic plc (NYSE:MDT) by 3.8% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 75,440 shares of the medical technology company’s stock after selling 3,020 shares during the quarter. Medtronic accounts for about 2.2% of Sicart Associates LLC’s portfolio, making the stock its 21st largest position. Sicart Associates LLC’s holdings in Medtronic were worth $6,079,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently bought and sold shares of the business. Clear Harbor Asset Management LLC increased its holdings in Medtronic by 1.2% in the third quarter. Clear Harbor Asset Management LLC now owns 9,558 shares of the medical technology company’s stock valued at $861,000 after buying an additional 111 shares during the last quarter. Guardian Wealth Management Inc. increased its holdings in Medtronic by 0.9% in the third quarter. Guardian Wealth Management Inc. now owns 13,131 shares of the medical technology company’s stock valued at $1,182,000 after buying an additional 115 shares during the last quarter. First PREMIER Bank increased its holdings in Medtronic by 1.8% in the third quarter. First PREMIER Bank now owns 6,417 shares of the medical technology company’s stock valued at $577,000 after buying an additional 116 shares during the last quarter. First City Capital Management Inc. increased its holdings in Medtronic by 2.9% in the third quarter. First City Capital Management Inc. now owns 4,123 shares of the medical technology company’s stock valued at $371,000 after buying an additional 116 shares during the last quarter. Finally, Hardy Reed LLC increased its holdings in Medtronic by 4.4% in the third quarter. Hardy Reed LLC now owns 2,743 shares of the medical technology company’s stock valued at $247,000 after buying an additional 116 shares during the last quarter. Hedge funds and other institutional investors own 82.06% of the company’s stock.

Analyst Ratings Changes

Several equities analysts recently commented on MDT shares. Barclays increased their target price on Medtronic from $105.00 to $109.00 and gave the company an “overweight” rating in a report on Tuesday, November 26th. Needham & Company LLC restated a “hold” rating on shares of Medtronic in a research note on Monday, November 18th. Citigroup upped their price objective on shares of Medtronic from $85.00 to $92.00 and gave the company a “neutral” rating in a research note on Tuesday, October 1st. Truist Financial decreased their price objective 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. Finally, Royal Bank of Canada upgraded shares of Medtronic from a “sector perform” rating to an “outperform” rating and upped their price objective for the company from $98.00 to $105.00 in a research note on Thursday, October 10th. One analyst has rated the stock with a sell rating, nine have given a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $95.00.

Insider Transactions at Medtronic

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

Medtronic Stock Performance

NYSE:MDT opened at $87.19 on Friday. The company has a current ratio of 1.84, a quick ratio of 1.39 and a debt-to-equity ratio of 0.51. The firm has a market capitalization of $111.80 billion, a price-to-earnings ratio of 26.66, a PEG ratio of 2.28 and a beta of 0.83. The firm’s fifty day simple moving average is $83.65 and its 200 day simple moving average is $85.01. Medtronic plc has a twelve month low of $75.96 and a twelve month high of $92.68.

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

Medtronic Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, January 10th. Stockholders of record on Friday, December 27th were given a $0.70 dividend. This represents a $2.80 annualized dividend and a dividend yield of 3.21%. The ex-dividend date of this dividend was Friday, December 27th. Medtronic’s payout ratio is currently 85.63%.

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.