LifePlan Financial LLC Invests $1.50 Million in Medtronic plc (NYSE:MDT)

LifePlan Financial LLC acquired a new position in Medtronic plc (NYSE:MDT) during the fourth quarter, according to its most recent filing with the SEC. The firm acquired 18,173 shares of the medical technology company’s stock, valued at approximately $1,497,000. Medtronic comprises approximately 1.5% of LifePlan Financial LLC’s holdings, making the stock its 17th biggest holding.

Other large investors have also recently made changes to their positions in the company. Fortitude Family Office LLC bought a new stake in shares of Medtronic in the 4th quarter worth approximately $25,000. Hartford Financial Management Inc. boosted its position in shares of Medtronic by 425.0% during the third quarter. Hartford Financial Management Inc. now owns 315 shares of the medical technology company’s stock valued at $25,000 after purchasing an additional 255 shares in the last quarter. Financial Gravity Asset Management Inc. boosted its position in shares of Medtronic by 317.0% during the third quarter. Financial Gravity Asset Management Inc. now owns 367 shares of the medical technology company’s stock valued at $29,000 after purchasing an additional 279 shares in the last quarter. Fairfield Bush & CO. bought a new stake in shares of Medtronic during the second quarter valued at approximately $32,000. Finally, Certified Advisory Corp bought a new stake in shares of Medtronic during the first quarter valued at approximately $31,000. 82.06% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In related news, EVP Michael Marinaro sold 854 shares of Medtronic 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 sale, the executive vice president now owns 27,925 shares of the company’s stock, valued at $2,321,684.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, EVP Michael Marinaro sold 854 shares of Medtronic 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 sale, the executive vice president now owns 27,925 shares of the company’s stock, valued at $2,321,684.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Sean Salmon sold 30,695 shares of Medtronic stock in a transaction 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 sale, the executive vice president now directly owns 48,289 shares of the company’s stock, valued at approximately $4,110,842.57. The disclosure for this sale can be found here. 0.30% of the stock is currently owned by corporate insiders.

Medtronic Stock Up 0.1 %

Shares of MDT stock traded up $0.10 during mid-day trading on Monday, hitting $80.23. The company’s stock had a trading volume of 6,896,240 shares, compared to its average volume of 6,309,057. Medtronic plc has a 52-week low of $68.84 and a 52-week high of $92.02. The business has a 50-day moving average price of $84.65 and a 200 day moving average price of $81.01. The company has a debt-to-equity ratio of 0.46, a quick ratio of 1.71 and a current ratio of 2.30. The stock has a market cap of $106.53 billion, a price-to-earnings ratio of 25.55, a PEG ratio of 2.74 and a beta of 0.76.

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

Medtronic Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, April 12th. Investors of record on Friday, March 22nd were issued a $0.69 dividend. This represents a $2.76 annualized dividend and a dividend yield of 3.44%. The ex-dividend date was Thursday, March 21st. Medtronic’s payout ratio is currently 87.90%.

Analyst Ratings Changes

Several research firms recently weighed in on MDT. Mizuho lifted their price target on Medtronic from $95.00 to $98.00 and gave the company a “buy” rating in a research report on Wednesday, February 21st. Royal Bank of Canada restated a “sector perform” rating and set a $92.00 price target on shares of Medtronic in a research report on Wednesday, February 21st. Oppenheimer lifted their price objective on Medtronic from $89.00 to $92.00 and gave the company a “market perform” rating in a research note on Wednesday, February 21st. Finally, Truist Financial lifted their price objective on Medtronic from $87.00 to $90.00 and gave the company a “hold” rating in a research note on Wednesday, February 21st. One analyst has rated the stock with a sell rating, four have given a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” 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.