Harbor Investment Advisory LLC Has $909,000 Holdings in Medtronic plc (NYSE:MDT)

Harbor Investment Advisory LLC decreased its position in Medtronic plc (NYSE:MDT) by 9.4% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 11,385 shares of the medical technology company’s stock after selling 1,182 shares during the quarter. Harbor Investment Advisory LLC’s holdings in Medtronic were worth $909,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in MDT. Fortitude Family Office LLC acquired a new position in Medtronic during the third quarter worth $27,000. Darwin Wealth Management LLC bought a new stake in shares of Medtronic during the 3rd quarter worth about $27,000. Highline Wealth Partners LLC acquired a new position in shares of Medtronic during the 3rd quarter valued at about $27,000. J. Stern & Co. LLP acquired a new stake in Medtronic in the 3rd quarter worth approximately $30,000. Finally, Chelsea Counsel Co. bought a new stake in Medtronic during the third quarter worth approximately $45,000. Institutional investors own 82.06% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on MDT. Truist Financial reduced their price objective on shares of Medtronic from $93.00 to $89.00 and set a “hold” rating for the company in a research note on Wednesday, December 18th. Wells Fargo & Company decreased their target price on Medtronic from $106.00 to $98.00 and set an “overweight” rating for the company in a research note on Wednesday, November 20th. Robert W. Baird decreased their price target on shares of Medtronic from $96.00 to $93.00 and set a “neutral” rating on the stock in a research report on Wednesday, November 20th. Evercore ISI raised their target price on Medtronic from $100.00 to $104.00 and gave the stock an “outperform” rating in a research report on Tuesday, October 1st. Finally, Needham & Company LLC reaffirmed a “hold” rating on shares of Medtronic in a research note on Monday, November 18th. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating, six have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $95.00.

Medtronic Stock Performance

Shares of Medtronic stock opened at $88.35 on Wednesday. Medtronic plc has a 12 month low of $75.96 and a 12 month high of $92.68. The stock’s fifty day simple moving average is $83.64 and its 200 day simple moving average is $85.29. The company has a market capitalization of $113.29 billion, a PE ratio of 27.02, a PEG ratio of 2.49 and a beta of 0.83. The company has a current ratio of 1.84, a quick ratio of 1.39 and a debt-to-equity ratio of 0.51.

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

Medtronic Announces Dividend

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

Insider Activity at Medtronic

In related news, EVP Brett A. Wall sold 9,850 shares of the 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 completion of the transaction, the executive vice president now directly owns 40,708 shares of the company’s stock, valued at approximately $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 accessible through this hyperlink. 0.20% of the stock is owned by insiders.

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.