TRUE Private Wealth Advisors Invests $355,000 in Medtronic plc (NYSE:MDT)

TRUE Private Wealth Advisors acquired a new position in Medtronic plc (NYSE:MDT) during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund acquired 4,311 shares of the medical technology company’s stock, valued at approximately $355,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of MDT. Hartford Financial Management Inc. grew its position in shares of Medtronic by 425.0% in the 3rd quarter. Hartford Financial Management Inc. now owns 315 shares of the medical technology company’s stock worth $25,000 after buying an additional 255 shares during the last quarter. Fortitude Family Office LLC purchased a new stake in Medtronic during the 4th quarter worth approximately $25,000. Leith Wheeler Investment Counsel Ltd. grew its position in Medtronic by 293.0% during the 4th quarter. Leith Wheeler Investment Counsel Ltd. now owns 316,643 shares of the medical technology company’s stock worth $26,000 after purchasing an additional 236,064 shares during the last quarter. Financial Gravity Asset Management Inc. grew its position in Medtronic by 317.0% during the 3rd quarter. Financial Gravity Asset Management Inc. now owns 367 shares of the medical technology company’s stock worth $29,000 after purchasing an additional 279 shares during the last quarter. Finally, Princeton Global Asset Management LLC purchased a new stake in Medtronic during the 3rd quarter worth approximately $31,000. Hedge funds and other institutional investors own 82.06% of the company’s stock.

Insiders Place Their Bets

In other Medtronic news, EVP Michael Marinaro sold 854 shares of the company’s stock in a transaction on Monday, April 8th. The shares were sold at an average price of $83.14, for a total transaction 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 $2,321,684.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Medtronic news, EVP Michael Marinaro sold 854 shares of the company’s stock in a transaction on Monday, April 8th. The shares were sold at an average price of $83.14, for a total transaction 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 $2,321,684.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Sean Salmon sold 30,695 shares of the company’s stock in a transaction on Wednesday, February 21st. The stock was sold at an average price of $85.13, for a total transaction of $2,613,065.35. Following the transaction, the executive vice president now owns 48,289 shares of the company’s stock, valued at $4,110,842.57. The disclosure for this sale can be found here. 0.30% of the stock is currently owned by company insiders.

Analyst Ratings Changes

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

Medtronic Stock Performance

MDT opened at $79.08 on Thursday. The company has a debt-to-equity ratio of 0.46, a current ratio of 2.30 and a quick ratio of 1.71. The firm has a fifty day moving average price of $84.18 and a 200 day moving average price of $81.01. Medtronic plc has a 1 year low of $68.84 and a 1 year high of $92.02. The stock has a market cap of $105.00 billion, a P/E ratio of 25.18, a P/E/G ratio of 2.71 and a beta of 0.76.

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

Medtronic Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, April 12th. Shareholders of record on Friday, March 22nd were given a dividend of $0.69 per share. This represents a $2.76 dividend on an annualized basis and a yield of 3.49%. The ex-dividend date was Thursday, March 21st. Medtronic’s dividend payout ratio is presently 87.90%.

Medtronic 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.