Parkside Financial Bank & Trust Boosts Position in Medtronic plc (NYSE:MDT)

Parkside Financial Bank & Trust boosted its holdings in shares of Medtronic plc (NYSE:MDT) by 5.5% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 6,277 shares of the medical technology company’s stock after purchasing an additional 328 shares during the quarter. Parkside Financial Bank & Trust’s holdings in Medtronic were worth $517,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently bought and sold shares of MDT. Hartford Financial Management Inc. increased its holdings in shares of Medtronic by 425.0% during the 3rd 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. Fortitude Family Office LLC purchased a new position in shares of Medtronic during the 4th quarter valued at approximately $25,000. Leith Wheeler Investment Counsel Ltd. increased its holdings in shares of 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 valued at $26,000 after purchasing an additional 236,064 shares in the last quarter. Financial Gravity Asset Management Inc. grew its stake in Medtronic by 317.0% in the 3rd quarter. Financial Gravity Asset Management Inc. now owns 367 shares of the medical technology company’s stock valued at $29,000 after acquiring an additional 279 shares during the period. Finally, Princeton Global Asset Management LLC acquired a new stake in Medtronic in the 3rd quarter valued at $31,000. 82.06% of the stock is owned by hedge funds and other institutional investors.

Medtronic Trading Up 0.5 %

Shares of MDT stock traded up $0.38 on Tuesday, hitting $80.95. 3,038,160 shares of the stock traded hands, compared to its average volume of 6,258,406. The stock has a market capitalization of $107.49 billion, a PE ratio of 25.75, a PEG ratio of 2.72 and a beta of 0.76. Medtronic plc has a twelve month low of $68.84 and a twelve month high of $92.02. The firm’s 50-day moving average price is $83.84 and its two-hundred day moving average price is $81.11. The company has a debt-to-equity ratio of 0.46, a quick ratio of 1.71 and a current ratio of 2.30.

Medtronic (NYSE:MDT) last issued its quarterly earnings data 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. The firm had revenue of $8.09 billion for the quarter, compared to analyst estimates of $7.95 billion. Medtronic had a net margin of 13.00% and a return on equity of 13.71%. Medtronic’s revenue was up 4.7% on a year-over-year basis. During the same period in the previous year, the firm earned $1.30 EPS. As a group, analysts anticipate that Medtronic plc will post 5.2 EPS for the current year.

Medtronic Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, April 12th. Shareholders of record on Friday, March 22nd were paid a dividend of $0.69 per share. The ex-dividend date of this dividend was Thursday, March 21st. This represents a $2.76 dividend on an annualized basis and a yield of 3.41%. Medtronic’s dividend payout ratio (DPR) is presently 87.90%.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on MDT shares. Mizuho lifted their price target 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. Truist Financial lifted their target price on shares of Medtronic from $87.00 to $90.00 and gave the stock a “hold” rating in a research note on Wednesday, February 21st. Oppenheimer lifted their target price on shares of Medtronic from $89.00 to $92.00 and gave the stock a “market perform” rating in a research note 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 research note on Wednesday, February 21st. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat, Medtronic presently has a consensus rating of “Moderate Buy” and an average price target of $94.91.

Insiders Place Their Bets

In other Medtronic news, EVP Michael Marinaro sold 854 shares of the business’s stock in a transaction dated Monday, April 8th. The shares were sold at an average price of $83.14, for a total transaction 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 can be accessed through the SEC website. In related news, EVP Sean Salmon sold 30,695 shares of the company’s stock in a transaction that occurred on Wednesday, February 21st. The shares were sold at an average price of $85.13, for a total transaction of $2,613,065.35. Following the sale, the executive vice president now directly owns 48,289 shares in the company, valued at $4,110,842.57. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Michael Marinaro sold 854 shares of the company’s stock in a transaction that occurred on Monday, April 8th. The stock was sold at an average price of $83.14, for a total transaction of $71,001.56. Following the sale, the executive vice president now owns 27,925 shares in the company, valued at $2,321,684.50. The disclosure for this sale can be found here. Insiders own 0.30% of the company’s stock.

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.