Northcape Wealth Management LLC Has $1.90 Million Stake in Medtronic plc (NYSE:MDT)

Northcape Wealth Management LLC increased its stake in Medtronic plc (NYSE:MDT) by 12.1% in the 4th quarter, Holdings Channel reports. The firm owned 23,829 shares of the medical technology company’s stock after purchasing an additional 2,565 shares during the period. Northcape Wealth Management LLC’s holdings in Medtronic were worth $1,903,000 as of its most recent filing with the SEC.

A number of other large investors have also recently added to or reduced their stakes in the stock. OLD National Bancorp IN raised its holdings in Medtronic by 12.7% in the 3rd quarter. OLD National Bancorp IN now owns 10,938 shares of the medical technology company’s stock worth $985,000 after acquiring an additional 1,230 shares during the period. Trilogy Capital Inc. increased its stake in shares of Medtronic by 4.9% in the third quarter. Trilogy Capital Inc. now owns 4,082 shares of the medical technology company’s stock worth $368,000 after purchasing an additional 192 shares during the period. Waterway Wealth Management LLC increased its stake in shares of Medtronic by 62.8% in the third quarter. Waterway Wealth Management LLC now owns 4,493 shares of the medical technology company’s stock worth $404,000 after purchasing an additional 1,734 shares during the period. Precision Wealth Strategies LLC lifted its position in shares of Medtronic by 3.3% during the 3rd quarter. Precision Wealth Strategies LLC now owns 3,741 shares of the medical technology company’s stock worth $337,000 after purchasing an additional 118 shares during the last quarter. Finally, Telos Capital Management Inc. boosted its stake in Medtronic by 2.0% during the 3rd quarter. Telos Capital Management Inc. now owns 123,358 shares of the medical technology company’s stock valued at $11,106,000 after purchasing an additional 2,402 shares during the period. Institutional investors own 82.06% of the company’s stock.

Insider Buying and Selling at Medtronic

In other Medtronic news, EVP Brett A. Wall sold 12,437 shares of Medtronic stock in a transaction 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 transaction, the executive vice president now owns 40,979 shares in the company, valued at approximately $3,688,110. The trade was a 23.28 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 0.20% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on MDT shares. Wells Fargo & Company cut their price target on Medtronic from $106.00 to $98.00 and set an “overweight” rating for the company in a report on Wednesday, November 20th. Needham & Company LLC reissued a “hold” rating on shares of Medtronic in a report on Wednesday, February 12th. Truist Financial dropped their price objective on shares of Medtronic from $93.00 to $89.00 and set a “hold” rating on the stock in a report on Wednesday, December 18th. Robert W. Baird reduced their target price on shares of Medtronic from $96.00 to $93.00 and set a “neutral” rating for the company in a research note on Wednesday, November 20th. Finally, Sanford C. Bernstein boosted their price target on Medtronic from $96.00 to $97.00 and gave the company an “outperform” rating in a research note on Wednesday, November 20th. One analyst has rated the stock with a sell rating, nine have given a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $95.00.

Medtronic Trading Down 7.3 %

Shares of MDT opened at $86.05 on Wednesday. The stock has a 50 day simple moving average of $85.74 and a 200-day simple moving average of $87.02. 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 stock has a market cap of $110.34 billion, a PE ratio of 26.32, a PEG ratio of 2.63 and a beta of 0.84. Medtronic plc has a 1 year low of $75.96 and a 1 year high of $93.08.

Medtronic (NYSE:MDT) last released its quarterly earnings data on Tuesday, February 18th. The medical technology company reported $1.39 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.36 by $0.03. Medtronic had a return on equity of 13.79% and a net margin of 13.00%. On average, sell-side analysts predict that Medtronic plc will post 5.45 EPS for the current fiscal year.

Medtronic Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, January 10th. Investors of record on Friday, December 27th were issued a dividend of $0.70 per share. This represents a $2.80 annualized dividend and a yield of 3.25%. The ex-dividend date of this dividend was Friday, December 27th. Medtronic’s dividend 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.