Medtronic plc (NYSE:MDT) Position Increased by Private Advisor Group LLC

Private Advisor Group LLC boosted its holdings in Medtronic plc (NYSE:MDT) by 2.9% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 109,846 shares of the medical technology company’s stock after acquiring an additional 3,083 shares during the quarter. Private Advisor Group LLC’s holdings in Medtronic were worth $9,049,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in MDT. Mackenzie Financial Corp increased its position in shares of Medtronic by 10.0% during the 3rd quarter. Mackenzie Financial Corp now owns 428,242 shares of the medical technology company’s stock valued at $32,778,000 after purchasing an additional 38,788 shares during the period. Brighton Jones LLC grew its holdings in shares of Medtronic by 6.2% in the 3rd quarter. Brighton Jones LLC now owns 10,672 shares of the medical technology company’s stock worth $836,000 after acquiring an additional 626 shares during the last quarter. Calamos Wealth Management LLC boosted its position in shares of Medtronic by 15.7% in the third quarter. Calamos Wealth Management LLC now owns 14,007 shares of the medical technology company’s stock worth $1,098,000 after buying an additional 1,896 shares during the period. Cambridge Trust Co. grew its stake in Medtronic by 19.3% in the third quarter. Cambridge Trust Co. now owns 24,664 shares of the medical technology company’s stock valued at $1,933,000 after purchasing an additional 3,985 shares in the last quarter. Finally, Value Partners Investments Inc. grew its stake in Medtronic by 0.4% in the third quarter. Value Partners Investments Inc. now owns 71,333 shares of the medical technology company’s stock valued at $5,590,000 after purchasing an additional 261 shares in the last quarter. 82.06% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Medtronic

In other Medtronic news, 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 value of $71,001.56. Following the completion of the transaction, the executive vice president now owns 27,925 shares of the company’s stock, valued at approximately $2,321,684.50. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other Medtronic news, 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 value of $71,001.56. Following the completion of the transaction, the executive vice president now owns 27,925 shares of the company’s stock, valued at approximately $2,321,684.50. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, EVP Sean Salmon sold 30,695 shares of the stock in a transaction that occurred 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 transaction, the executive vice president now directly owns 48,289 shares of the company’s stock, valued at $4,110,842.57. The disclosure for this sale can be found here. Insiders own 0.30% of the company’s stock.

Medtronic Stock Performance

Shares of NYSE MDT traded up $0.04 during trading hours on Tuesday, hitting $81.80. 2,881,445 shares of the company’s stock were exchanged, compared to its average volume of 6,159,746. Medtronic plc has a 1-year low of $68.84 and a 1-year high of $91.00. 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 stock has a market capitalization of $108.62 billion, a price-to-earnings ratio of 26.12, a PEG ratio of 2.66 and a beta of 0.78. The company’s 50-day moving average price is $83.05 and its 200-day moving average price is $81.63.

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

Medtronic Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, April 12th. Shareholders of record on Friday, March 22nd were issued a $0.69 dividend. The ex-dividend date was Thursday, March 21st. This represents a $2.76 annualized dividend and a yield of 3.37%. Medtronic’s dividend payout ratio (DPR) is 87.90%.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on MDT shares. Oppenheimer boosted their target price on Medtronic from $89.00 to $92.00 and gave the company a “market perform” rating in a research note on Wednesday, February 21st. Mizuho upped their price target on Medtronic from $95.00 to $98.00 and gave the stock a “buy” rating in a research note on Wednesday, February 21st. Royal Bank of Canada reiterated a “sector perform” rating and set a $92.00 price target on shares of Medtronic in a research note on Wednesday, February 21st. Finally, Truist Financial upped their price target on Medtronic from $87.00 to $90.00 and gave the stock a “hold” rating 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 six have issued a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price 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.