LaFleur & Godfrey LLC Sells 12,796 Shares of Medtronic plc (NYSE:MDT)

LaFleur & Godfrey LLC reduced its stake in Medtronic plc (NYSE:MDT) by 24.3% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 39,923 shares of the medical technology company’s stock after selling 12,796 shares during the quarter. LaFleur & Godfrey LLC’s holdings in Medtronic were worth $3,189,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Fortitude Family Office LLC bought a new stake in Medtronic in the third quarter worth $27,000. Highline Wealth Partners LLC purchased a new position in shares of Medtronic in the 3rd quarter worth about $27,000. Darwin Wealth Management LLC bought a new position in Medtronic in the 3rd quarter worth about $27,000. J. Stern & Co. LLP purchased a new stake in Medtronic during the 3rd quarter valued at about $30,000. Finally, Kieckhefer Group LLC bought a new stake in Medtronic during the 4th quarter valued at about $40,000. Hedge funds and other institutional investors own 82.06% of the company’s stock.

Insider Transactions at Medtronic

In other Medtronic news, EVP Brett A. Wall sold 9,850 shares of the company’s stock in a transaction that occurred on Wednesday, January 8th. The stock was sold at an average price of $80.41, for a total transaction of $792,038.50. Following the sale, the executive vice president now directly owns 40,708 shares in the company, valued at $3,273,330.28. This represents a 19.48 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this link. Insiders own 0.20% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on MDT shares. JPMorgan Chase & Co. dropped their target price on shares of Medtronic from $99.00 to $96.00 and set a “neutral” rating on the stock in a research note on Friday, November 15th. Royal Bank of Canada upgraded Medtronic from a “sector perform” rating to an “outperform” rating and increased their target price for the company from $98.00 to $105.00 in a research note on Thursday, October 10th. Robert W. Baird decreased their price target on Medtronic from $96.00 to $93.00 and set a “neutral” rating for the company in a research note on Wednesday, November 20th. Truist Financial lowered their price target on Medtronic from $93.00 to $89.00 and set a “hold” rating on the stock in a report on Wednesday, December 18th. Finally, Sanford C. Bernstein lifted their price objective on Medtronic from $96.00 to $97.00 and gave the stock an “outperform” rating in a report on Wednesday, November 20th. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, Medtronic presently has an average rating of “Hold” and an average target price of $95.00.

Medtronic Price Performance

Shares of Medtronic stock opened at $88.23 on Monday. Medtronic plc has a one year low of $75.96 and a one year high of $92.68. The stock has a market cap of $113.13 billion, a P/E ratio of 26.98, a P/E/G ratio of 2.28 and a beta of 0.83. The stock’s fifty day moving average is $83.64 and its 200 day moving average is $85.16. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.39 and a current ratio of 1.84.

Medtronic (NYSE:MDT) last released its quarterly earnings data on Tuesday, November 19th. The medical technology company reported $1.26 earnings per share for the quarter, topping analysts’ consensus estimates of $1.25 by $0.01. The firm had revenue of $8.40 billion during the quarter, compared to analyst estimates of $8.27 billion. Medtronic had a return on equity of 13.79% and a net margin of 13.00%. The business’s quarterly revenue was up 5.2% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.25 earnings per share. Sell-side analysts anticipate that Medtronic plc will post 5.45 earnings per share for the current year.

Medtronic Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, January 10th. Investors of record on Friday, December 27th were given a $0.70 dividend. The ex-dividend date was Friday, December 27th. This represents a $2.80 dividend on an annualized basis and a dividend yield of 3.17%. Medtronic’s dividend payout ratio is currently 85.63%.

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.