L. Roy Papp & Associates LLP Has $396,000 Stock Position in Medtronic plc (NYSE:MDT)

L. Roy Papp & Associates LLP lessened its holdings in Medtronic plc (NYSE:MDT) by 18.5% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 4,961 shares of the medical technology company’s stock after selling 1,125 shares during the quarter. L. Roy Papp & Associates LLP’s holdings in Medtronic were worth $396,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. Leavell Investment Management Inc. boosted its holdings in Medtronic by 4.4% in the 4th quarter. Leavell Investment Management Inc. now owns 5,331 shares of the medical technology company’s stock valued at $430,000 after purchasing an additional 226 shares during the period. Portfolio Design Labs LLC raised its position in shares of Medtronic by 67.4% in the fourth quarter. Portfolio Design Labs LLC now owns 4,422 shares of the medical technology company’s stock valued at $353,000 after buying an additional 1,781 shares in the last quarter. Sovran Advisors LLC bought a new stake in shares of Medtronic in the fourth quarter valued at approximately $415,000. Strengthening Families & Communities LLC boosted its stake in shares of Medtronic by 8.6% in the fourth quarter. Strengthening Families & Communities LLC now owns 23,118 shares of the medical technology company’s stock valued at $1,847,000 after buying an additional 1,833 shares during the period. Finally, Peterson Wealth Services grew its position in Medtronic by 3.9% during the fourth quarter. Peterson Wealth Services now owns 18,254 shares of the medical technology company’s stock worth $1,458,000 after buying an additional 686 shares in the last quarter. 82.06% of the stock is currently owned by institutional investors and hedge funds.

Medtronic Price Performance

Shares of NYSE:MDT opened at $91.18 on Wednesday. The firm has a market cap of $116.92 billion, a PE ratio of 27.88, a price-to-earnings-growth ratio of 2.57 and a beta of 0.84. Medtronic plc has a 52 week low of $75.96 and a 52 week high of $93.08. The firm’s fifty day moving average is $84.93 and its 200-day moving average is $86.56. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.39 and a current ratio of 1.84.

Medtronic (NYSE:MDT) last released its quarterly earnings results on Tuesday, November 19th. The medical technology company reported $1.26 EPS for the quarter, beating analysts’ consensus estimates of $1.25 by $0.01. Medtronic had a return on equity of 13.79% and a net margin of 13.00%. The firm 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 company posted $1.25 EPS. The business’s revenue was up 5.2% on a year-over-year basis. Sell-side analysts predict that Medtronic plc will post 5.45 earnings per share for the current year.

Medtronic Dividend Announcement

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

Analysts Set New Price Targets

MDT has been the subject of several analyst reports. Truist Financial dropped their price objective on Medtronic from $93.00 to $89.00 and set a “hold” rating for the company in a report on Wednesday, December 18th. Needham & Company LLC reaffirmed a “hold” rating on shares of Medtronic in a research note on Monday, November 18th. Robert W. Baird reduced their price objective on shares of Medtronic from $96.00 to $93.00 and set a “neutral” rating on the stock in a research note on Wednesday, November 20th. JPMorgan Chase & Co. decreased their target price on shares of Medtronic from $99.00 to $96.00 and set a “neutral” rating on the stock in a report on Friday, November 15th. Finally, Sanford C. Bernstein upped their price target on shares of 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, six have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company has an average rating of “Hold” and an average target price of $95.00.

Insider Activity

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

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.