Schaper Benz & Wise Investment Counsel Inc. WI Sells 570 Shares of Medtronic plc (NYSE:MDT)

Schaper Benz & Wise Investment Counsel Inc. WI lessened its stake in shares of Medtronic plc (NYSE:MDT) by 0.4% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 126,546 shares of the medical technology company’s stock after selling 570 shares during the quarter. Schaper Benz & Wise Investment Counsel Inc. WI’s holdings in Medtronic were worth $10,108,000 as of its most recent filing with the SEC.

Several other large investors also recently made changes to their positions in MDT. Philip James Wealth Mangement LLC boosted its stake in Medtronic by 10.6% during the 3rd quarter. Philip James Wealth Mangement LLC now owns 2,900 shares of the medical technology company’s stock valued at $261,000 after purchasing an additional 279 shares during the period. Hollencrest Capital Management boosted its stake in Medtronic by 43.9% during the 3rd quarter. Hollencrest Capital Management now owns 737 shares of the medical technology company’s stock valued at $66,000 after purchasing an additional 225 shares during the period. Equitable Trust Co. boosted its stake in Medtronic by 23.0% during the 3rd quarter. Equitable Trust Co. now owns 20,677 shares of the medical technology company’s stock valued at $1,862,000 after purchasing an additional 3,869 shares during the period. CWA Asset Management Group LLC bought a new stake in Medtronic during the 3rd quarter valued at approximately $418,000. Finally, Beta Wealth Group Inc. boosted its stake in Medtronic by 4.6% during the 3rd quarter. Beta Wealth Group Inc. now owns 6,918 shares of the medical technology company’s stock valued at $623,000 after purchasing an additional 306 shares during the period. Institutional investors own 82.06% of the company’s stock.

Analyst Ratings Changes

MDT has been the subject of several recent analyst reports. JPMorgan Chase & Co. decreased their target price on Medtronic from $99.00 to $96.00 and set a “neutral” rating for the company in a research note on Friday, November 15th. Royal Bank of Canada restated an “outperform” rating and set a $105.00 target price on shares of Medtronic in a research note on Wednesday, February 19th. UBS Group raised their price objective on Medtronic from $85.00 to $95.00 and gave the stock a “neutral” rating in a research report on Wednesday, February 19th. Wells Fargo & Company reduced their price objective on Medtronic from $106.00 to $98.00 and set an “overweight” rating for the company in a research report on Wednesday, November 20th. Finally, Truist Financial reduced their price objective on Medtronic from $93.00 to $89.00 and set a “hold” rating for the company in a research report on Wednesday, December 18th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $96.07.

Medtronic Trading Up 1.6 %

Shares of MDT opened at $94.58 on Friday. Medtronic plc has a 1 year low of $75.96 and a 1 year high of $95.57. The company has a current ratio of 1.90, a quick ratio of 1.39 and a debt-to-equity ratio of 0.48. The stock has a 50 day simple moving average of $88.33 and a 200-day simple moving average of $87.80. The stock has a market cap of $121.30 billion, a PE ratio of 28.75, a PEG ratio of 2.22 and a beta of 0.80.

Medtronic (NYSE:MDT) last released its quarterly 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 firm had revenue of $8.29 billion during the quarter, compared to analysts’ expectations of $8.33 billion. On average, sell-side analysts predict that Medtronic plc will post 5.46 EPS for the current fiscal year.

Medtronic Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, April 11th. Investors 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 2.96%. Medtronic’s dividend payout ratio is 85.11%.

Insider Activity at Medtronic

In related news, EVP Brett A. Wall sold 12,437 shares of the firm’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 directly owns 40,979 shares of the company’s stock, valued at $3,688,110. This trade represents a 23.28 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders own 0.20% of the company’s stock.

Medtronic Company 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.