Michael Marinaro Sells 854 Shares of Medtronic plc (NYSE:MDT) Stock

Medtronic plc (NYSE:MDT) EVP Michael Marinaro sold 854 shares of Medtronic stock in a transaction dated Monday, April 8th. The stock was sold at an average price of $83.14, for a total value of $71,001.56. Following the sale, the executive vice president now directly owns 27,925 shares in the company, valued at $2,321,684.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Medtronic Stock Performance

Shares of NYSE MDT traded up $0.89 during midday trading on Tuesday, hitting $83.80. 5,679,586 shares of the company’s stock were exchanged, compared to its average volume of 6,300,547. The firm has a market cap of $111.27 billion, a P/E ratio of 26.64, a PEG ratio of 2.89 and a beta of 0.76. The company has a debt-to-equity ratio of 0.46, a current ratio of 2.30 and a quick ratio of 1.71. Medtronic plc has a twelve month low of $68.84 and a twelve month high of $92.02. The stock’s 50 day moving average price is $85.08 and its 200-day moving average price is $80.93.

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

Medtronic Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, April 12th. Shareholders of record on Friday, March 22nd will be given a $0.69 dividend. The ex-dividend date of this dividend is Thursday, March 21st. This represents a $2.76 dividend on an annualized basis and a yield of 3.29%. Medtronic’s dividend payout ratio (DPR) is 87.90%.

Institutional Investors Weigh In On Medtronic

A number of institutional investors have recently added to or reduced their stakes in the company. Norges Bank acquired a new stake in shares of Medtronic during the 4th quarter valued at $1,229,726,000. Moneta Group Investment Advisors LLC lifted its position in shares of Medtronic by 127,655.1% during the 4th quarter. Moneta Group Investment Advisors LLC now owns 14,160,371 shares of the medical technology company’s stock valued at $1,100,544,000 after acquiring an additional 14,149,287 shares during the last quarter. Bank of New York Mellon Corp lifted its position in shares of Medtronic by 33.1% during the 3rd quarter. Bank of New York Mellon Corp now owns 19,374,686 shares of the medical technology company’s stock valued at $1,564,508,000 after acquiring an additional 4,816,172 shares during the last quarter. First Eagle Investment Management LLC lifted its position in shares of Medtronic by 54.5% during the 4th quarter. First Eagle Investment Management LLC now owns 9,409,680 shares of the medical technology company’s stock valued at $775,169,000 after acquiring an additional 3,320,800 shares during the last quarter. Finally, Pzena Investment Management LLC lifted its position in shares of Medtronic by 112.8% during the 3rd quarter. Pzena Investment Management LLC now owns 5,730,577 shares of the medical technology company’s stock valued at $449,048,000 after acquiring an additional 3,037,394 shares during the last quarter. 82.06% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

MDT has been the subject of several research analyst reports. Mizuho boosted their price objective on Medtronic from $95.00 to $98.00 and gave the company a “buy” rating in a report on Wednesday, February 21st. Truist Financial boosted their price objective on Medtronic from $87.00 to $90.00 and gave the company a “hold” rating in a report on Wednesday, February 21st. Oppenheimer upped their target price on Medtronic from $89.00 to $92.00 and gave the company a “market perform” rating in a report on Wednesday, February 21st. Finally, Royal Bank of Canada reaffirmed a “sector perform” rating and set a $92.00 target price on shares of Medtronic in a report on Wednesday, February 21st. One investment analyst has rated the stock with a sell rating, four have given a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $94.91.

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.