Csenge Advisory Group Trims Stock Holdings in Medtronic plc (NYSE:MDT)

Csenge Advisory Group lessened its stake in shares of Medtronic plc (NYSE:MDTGet Rating) by 9.8% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 7,882 shares of the medical technology company’s stock after selling 861 shares during the quarter. Csenge Advisory Group’s holdings in Medtronic were worth $994,000 at the end of the most recent quarter.

Other large investors have also added to or reduced their stakes in the company. Dixon Hughes Goodman Wealth Advisors LLC purchased a new position in shares of Medtronic during the fourth quarter valued at $25,000. PYA Waltman Capital LLC acquired a new stake in shares of Medtronic in the fourth quarter valued at approximately $25,000. Horan Securities Inc. acquired a new position in Medtronic during the fourth quarter valued at approximately $25,000. Ibex Wealth Advisors bought a new stake in shares of Medtronic in the third quarter worth $26,000. Finally, MD Financial Management Inc. raised its holdings in shares of Medtronic by 100.0% during the third quarter. MD Financial Management Inc. now owns 210 shares of the medical technology company’s stock valued at $26,000 after purchasing an additional 105 shares during the period. Hedge funds and other institutional investors own 80.23% of the company’s stock.

Shares of MDT traded down $1.21 during mid-day trading on Wednesday, reaching $105.05. 47,532 shares of the stock traded hands, compared to its average volume of 5,230,757. The company has a current ratio of 2.61, a quick ratio of 2.10 and a debt-to-equity ratio of 0.46. The company has a market cap of $140.93 billion, a price-to-earnings ratio of 29.27, a price-to-earnings-growth ratio of 2.34 and a beta of 0.74. The firm has a fifty day moving average price of $107.60 and a 200 day moving average price of $107.98. Medtronic plc has a 1 year low of $98.38 and a 1 year high of $135.89.

Medtronic (NYSE:MDTGet Rating) last issued its earnings results on Tuesday, February 22nd. The medical technology company reported $1.37 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.36 by $0.01. The firm had revenue of $7.76 billion for the quarter, compared to the consensus estimate of $7.91 billion. Medtronic had a net margin of 15.46% and a return on equity of 14.57%. The business’s revenue was down .2% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.29 earnings per share. On average, sell-side analysts anticipate that Medtronic plc will post 5.66 EPS for the current year.

The business also recently announced a quarterly dividend, which was paid on Friday, April 22nd. Investors of record on Friday, March 25th were paid a dividend of $0.63 per share. The ex-dividend date was Thursday, March 24th. This represents a $2.52 annualized dividend and a yield of 2.40%. Medtronic’s payout ratio is 69.42%.

In other Medtronic news, SVP Carol A. Surface sold 6,000 shares of the firm’s stock in a transaction dated Friday, March 11th. The shares were sold at an average price of $105.30, for a total transaction of $631,800.00. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CFO Karen L. Parkhill sold 682 shares of the firm’s stock in a transaction dated Friday, March 18th. The shares were sold at an average price of $110.00, for a total transaction of $75,020.00. The disclosure for this sale can be found here. Company insiders own 0.47% of the company’s stock.

Several research firms have issued reports on MDT. Raymond James lowered their target price on shares of Medtronic from $127.00 to $116.00 and set an “outperform” rating on the stock in a research note on Friday, February 18th. Truist Financial cut shares of Medtronic from a “buy” rating to a “hold” rating and decreased their target price for the stock from $124.00 to $121.00 in a report on Wednesday, April 13th. Piper Sandler cut their target price on shares of Medtronic from $110.00 to $105.00 and set a “neutral” rating for the company in a research report on Wednesday, February 16th. StockNews.com assumed coverage on shares of Medtronic in a research report on Thursday, March 31st. They set a “buy” rating for the company. Finally, Bank of America assumed coverage on shares of Medtronic in a research note on Tuesday, March 1st. They issued a “buy” rating on the stock. Eleven analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus target price of $127.76.

Medtronic Company Profile (Get Rating)

Medtronic plc develops, manufactures, distributes, and sells device-based medical therapies to hospitals, physicians, clinicians, and patients worldwide. It operates through four segments: Cardiovascular Portfolio, Neuroscience Portfolio, Medical Surgical Portfolio, and Diabetes Operating Unit. The Cardiovascular Portfolio segment offers implantable cardiac pacemakers, cardioverter defibrillators, and cardiac resynchronization therapy devices; AF ablation products; insertable cardiac monitor systems; mechanical circulatory support; TYRX products; and remote monitoring and patient-centered software.

See Also

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Institutional Ownership by Quarter for Medtronic (NYSE:MDT)

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