Sentry Investment Management LLC Cuts Position in Medtronic plc (NYSE:MDT)

Sentry Investment Management LLC trimmed its position in shares of Medtronic plc (NYSE:MDT) by 14.0% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,286 shares of the medical technology company’s stock after selling 861 shares during the period. Sentry Investment Management LLC’s holdings in Medtronic were worth $422,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently modified their holdings of MDT. Assenagon Asset Management S.A. increased its holdings in shares of Medtronic by 1.8% in 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 during the last quarter. Allworth Financial LP grew its position in Medtronic by 11.2% in the third quarter. Allworth Financial LP now owns 28,353 shares of the medical technology company’s stock worth $2,553,000 after acquiring an additional 2,859 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. increased its stake in Medtronic by 19.8% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 84,497 shares of the medical technology company’s stock worth $7,547,000 after acquiring an additional 13,952 shares during the last quarter. Modera Wealth Management LLC raised its position in Medtronic by 23.2% during the third quarter. Modera Wealth Management LLC now owns 3,221 shares of the medical technology company’s stock valued at $290,000 after purchasing an additional 606 shares during the period. Finally, Clear Harbor Asset Management LLC raised its position in Medtronic by 1.2% during 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 purchasing an additional 111 shares during the period. 82.06% of the stock is currently owned by institutional investors.

Medtronic Stock Performance

Medtronic stock opened at $90.27 on Tuesday. The company has a debt-to-equity ratio of 0.48, a quick ratio of 1.39 and a current ratio of 1.90. The company has a market capitalization of $115.76 billion, a PE ratio of 27.44, a P/E/G ratio of 2.22 and a beta of 0.84. The company has a 50 day moving average price of $86.26 and a 200-day moving average price of $87.24. Medtronic plc has a fifty-two week low of $75.96 and a fifty-two week high of $93.08.

Medtronic (NYSE:MDT) last issued its earnings results on Tuesday, February 18th. The medical technology company reported $1.39 earnings per share for the quarter, beating analysts’ consensus estimates of $1.36 by $0.03. Medtronic had a return on equity of 14.07% and a net margin of 12.83%. The business had revenue of $8.29 billion during the quarter, compared to analyst estimates of $8.33 billion. As a group, equities analysts forecast that Medtronic plc will post 5.46 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. Shareholders 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 3.10%. The ex-dividend date was Friday, December 27th. Medtronic’s payout ratio is 85.11%.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on MDT. Barclays boosted their target price on Medtronic from $105.00 to $109.00 and gave the company an “overweight” rating in a research report on Tuesday, November 26th. Needham & Company LLC reiterated a “hold” rating on shares of Medtronic in a research report on Wednesday, February 19th. Royal Bank of Canada restated an “outperform” rating and issued a $105.00 target price on shares of Medtronic in a report on Wednesday, February 19th. Truist Financial dropped their price target 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, Robert W. Baird increased their price objective on shares of Medtronic from $90.00 to $91.00 and gave the stock a “neutral” rating in a research report on Wednesday, February 19th. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating, five have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $95.00.

Insider Buying and Selling at Medtronic

In other Medtronic news, EVP Brett A. Wall sold 12,437 shares of the company’s stock in a transaction on Friday, January 24th. The stock was 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 owns 40,979 shares in the company, valued at $3,688,110. This represents a 23.28 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 0.20% of the company’s stock.

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.