Amalgamated Bank Has $26.60 Million Stake in Medtronic plc (NYSE:MDT)

Amalgamated Bank lessened its stake in shares of Medtronic plc (NYSE:MDT) by 4.6% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 322,905 shares of the medical technology company’s stock after selling 15,535 shares during the period. Amalgamated Bank’s holdings in Medtronic were worth $26,601,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in MDT. Beacon Harbor Wealth Advisors Inc. grew its stake in Medtronic by 3.5% during the fourth quarter. Beacon Harbor Wealth Advisors Inc. now owns 67,063 shares of the medical technology company’s stock worth $5,525,000 after buying an additional 2,287 shares in the last quarter. Natixis Advisors L.P. lifted its holdings in shares of Medtronic by 8.6% during the 4th quarter. Natixis Advisors L.P. now owns 1,063,337 shares of the medical technology company’s stock worth $87,597,000 after acquiring an additional 83,816 shares during the period. First Horizon Advisors Inc. boosted its position in shares of Medtronic by 3.1% during the 4th quarter. First Horizon Advisors Inc. now owns 153,682 shares of the medical technology company’s stock worth $12,660,000 after acquiring an additional 4,637 shares in the last quarter. Fisher Asset Management LLC increased its stake in Medtronic by 22.2% in the fourth quarter. Fisher Asset Management LLC now owns 4,594,855 shares of the medical technology company’s stock valued at $378,524,000 after acquiring an additional 835,806 shares during the last quarter. Finally, Heritage Wealth Management LLC bought a new stake in shares of Medtronic during the 4th quarter worth $740,000. 82.06% of the stock is owned by institutional investors and hedge funds.

Medtronic Trading Up 0.0 %

MDT traded up $0.03 during trading on Thursday, hitting $80.92. The company’s stock had a trading volume of 6,220,884 shares, compared to its average volume of 6,241,713. The firm has a market capitalization of $107.45 billion, a P/E ratio of 25.77, a PEG ratio of 2.75 and a beta of 0.78. Medtronic plc has a twelve month low of $68.84 and a twelve month high of $92.02. The stock’s fifty day moving average price is $83.25 and its 200-day moving average price is $81.37. The company has a quick ratio of 1.71, a current ratio of 2.30 and a debt-to-equity ratio of 0.46.

Medtronic (NYSE:MDT) last posted its quarterly earnings results on Tuesday, February 20th. The medical technology company reported $1.30 EPS for the quarter, topping analysts’ consensus estimates of $1.26 by $0.04. Medtronic had a net margin of 13.00% and a return on equity of 13.71%. The business had revenue of $8.09 billion during the quarter, compared to analysts’ expectations of $7.95 billion. During the same period last year, the company posted $1.30 earnings per share. The business’s quarterly revenue was up 4.7% on a year-over-year basis. Analysts anticipate that Medtronic plc will post 5.2 EPS for the current year.

Medtronic Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, April 12th. Investors of record on Friday, March 22nd were given a $0.69 dividend. The ex-dividend date was Thursday, March 21st. This represents a $2.76 annualized dividend and a yield of 3.41%. Medtronic’s payout ratio is 87.90%.

Insider Buying and Selling at Medtronic

In other news, EVP Michael Marinaro sold 854 shares of the firm’s stock in a transaction that occurred on Monday, April 8th. The stock was sold at an average price of $83.14, for a total value of $71,001.56. Following the transaction, the executive vice president now owns 27,925 shares in the company, valued at $2,321,684.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, EVP Sean Salmon sold 30,695 shares of the company’s stock in a transaction that occurred on Wednesday, February 21st. The stock was sold at an average price of $85.13, for a total value of $2,613,065.35. Following the completion of the transaction, the executive vice president now directly owns 48,289 shares of the company’s stock, valued at $4,110,842.57. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, EVP Michael Marinaro sold 854 shares of the business’s stock in a transaction on Monday, April 8th. The stock was sold at an average price of $83.14, for a total value of $71,001.56. Following the completion of the transaction, the executive vice president now directly owns 27,925 shares in the company, valued at approximately $2,321,684.50. The disclosure for this sale can be found here. Company insiders own 0.30% of the company’s stock.

Analysts Set New Price Targets

MDT has been the subject of several research analyst reports. Oppenheimer boosted their target price on Medtronic from $89.00 to $92.00 and gave the stock a “market perform” rating in a research note on Wednesday, February 21st. Mizuho boosted their target price on shares of Medtronic from $95.00 to $98.00 and gave the stock a “buy” rating in a research note on Wednesday, February 21st. Royal Bank of Canada reissued a “sector perform” rating and set a $92.00 price objective on shares of Medtronic in a report on Wednesday, February 21st. Finally, Truist Financial upped their target price on Medtronic from $87.00 to $90.00 and gave the stock a “hold” rating in a report on Wednesday, February 21st. One analyst has rated the stock with a sell rating, four have assigned a hold rating and six have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $94.91.

About Medtronic

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.