Cornercap Investment Counsel Inc. Sells 356 Shares of Medtronic plc (NYSE:MDT)

Cornercap Investment Counsel Inc. lowered its holdings in Medtronic plc (NYSE:MDT) by 4.5% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 7,541 shares of the medical technology company’s stock after selling 356 shares during the quarter. Cornercap Investment Counsel Inc.’s holdings in Medtronic were worth $602,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Mainstream Capital Management LLC purchased a new position in Medtronic during the 4th quarter worth $26,000. Stephens Consulting LLC boosted its holdings in Medtronic by 145.7% during the fourth quarter. Stephens Consulting LLC now owns 344 shares of the medical technology company’s stock worth $27,000 after purchasing an additional 204 shares during the last quarter. Rakuten Securities Inc. grew its position in Medtronic by 753.8% in the 4th quarter. Rakuten Securities Inc. now owns 333 shares of the medical technology company’s stock worth $27,000 after purchasing an additional 294 shares in the last quarter. Fiduciary Advisors Inc. purchased a new stake in Medtronic in the 4th quarter valued at about $36,000. Finally, Kieckhefer Group LLC bought a new position in shares of Medtronic during the 4th quarter worth approximately $40,000. Institutional investors own 82.06% of the company’s stock.

Insider Buying and Selling

In other news, EVP Brett A. Wall sold 12,437 shares of the business’s stock in a transaction dated 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 transaction, the executive vice president now owns 40,979 shares of the company’s stock, valued at approximately $3,688,110. The trade was a 23.28 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.20% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on MDT. Royal Bank of Canada reaffirmed an “outperform” rating and set a $105.00 price target on shares of Medtronic in a research report on Wednesday, February 19th. Robert W. Baird raised their target price on Medtronic from $90.00 to $91.00 and gave the company a “neutral” rating in a research report on Wednesday, February 19th. Citigroup raised shares of Medtronic from a “neutral” rating to a “buy” rating and boosted their price target for the stock from $92.00 to $107.00 in a report on Tuesday, March 4th. 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 report on Wednesday, December 18th. Finally, UBS Group boosted their target price on shares of Medtronic from $85.00 to $95.00 and gave the company a “neutral” rating in a research note on Wednesday, February 19th. One equities research 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. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $96.07.

Medtronic Stock Down 1.5 %

MDT stock opened at $87.62 on Friday. The stock has a 50-day simple moving average of $90.98 and a two-hundred day simple moving average of $88.01. Medtronic plc has a twelve month low of $75.96 and a twelve month high of $96.25. The firm has a market capitalization of $112.38 billion, a PE ratio of 26.63, a PEG ratio of 2.22 and a beta of 0.80. The company has a quick ratio of 1.39, a current ratio of 1.90 and a debt-to-equity ratio of 0.48.

Medtronic (NYSE:MDT) last posted its earnings results 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 net margin of 12.83% and a return on equity of 14.07%. The business had revenue of $8.29 billion for the quarter, compared to analysts’ expectations of $8.33 billion. On average, equities analysts predict that Medtronic plc will post 5.46 EPS for the current fiscal year.

Medtronic Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, April 11th. Investors of record on Friday, March 28th will be paid a dividend of $0.70 per share. This represents a $2.80 annualized dividend and a yield of 3.20%. The ex-dividend date is Friday, March 28th. Medtronic’s dividend payout ratio is 85.11%.

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.