Wealthspire Advisors LLC Has $910,000 Holdings in Medtronic plc (NYSE:MDT)

Wealthspire Advisors LLC increased its holdings in Medtronic plc (NYSE:MDT) by 15.6% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 11,050 shares of the medical technology company’s stock after buying an additional 1,492 shares during the period. Wealthspire Advisors LLC’s holdings in Medtronic were worth $910,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also added to or reduced their stakes in the company. E Fund Management Co. Ltd. raised its position in Medtronic by 13.6% during the fourth quarter. E Fund Management Co. Ltd. now owns 3,617 shares of the medical technology company’s stock valued at $298,000 after purchasing an additional 434 shares in the last quarter. Blume Capital Management Inc. raised its holdings in shares of Medtronic by 101.8% during the 4th quarter. Blume Capital Management Inc. now owns 17,840 shares of the medical technology company’s stock worth $1,470,000 after buying an additional 9,000 shares in the last quarter. Valtinson Bruner Financial Planning LLC lifted its position in shares of Medtronic by 13.9% during the 4th quarter. Valtinson Bruner Financial Planning LLC now owns 26,224 shares of the medical technology company’s stock worth $2,160,000 after buying an additional 3,210 shares during the last quarter. Evexia Wealth LLC boosted its stake in Medtronic by 1.7% in the fourth quarter. Evexia Wealth LLC now owns 27,438 shares of the medical technology company’s stock valued at $2,404,000 after buying an additional 458 shares in the last quarter. Finally, EdgeRock Capital LLC bought a new position in Medtronic in the fourth quarter valued at about $82,000. Institutional investors and hedge funds own 82.06% of the company’s stock.

Insiders Place Their Bets

In related news, EVP Michael Marinaro sold 854 shares of the business’s 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 approximately $2,321,684.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In related news, EVP Sean Salmon sold 30,695 shares of the stock in a transaction dated 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 sale, the executive vice president now owns 48,289 shares of the company’s stock, valued at approximately $4,110,842.57. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Michael Marinaro sold 854 shares of the firm’s 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 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 disclosure for this sale can be found here. Insiders own 0.30% of the company’s stock.

Analysts Set New Price Targets

A number of research firms recently issued reports on MDT. Truist Financial upped their price objective on shares of Medtronic from $87.00 to $90.00 and gave the stock a “hold” rating in a research report on Wednesday, February 21st. Mizuho boosted their target price on shares of Medtronic from $95.00 to $98.00 and gave the stock a “buy” rating in a report on Wednesday, February 21st. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $92.00 price target on shares of Medtronic in a research note on Wednesday, February 21st. Finally, Oppenheimer boosted their price objective 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. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $94.91.

Medtronic Trading Up 0.1 %

Shares of NYSE:MDT traded up $0.08 during midday trading on Friday, reaching $82.84. The company’s stock had a trading volume of 321,854 shares, compared to its average volume of 6,089,522. Medtronic plc has a fifty-two week low of $68.84 and a fifty-two week high of $91.00. 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 firm has a 50 day moving average price of $82.97 and a two-hundred day moving average price of $81.69. The firm has a market capitalization of $110.00 billion, a price-to-earnings ratio of 26.36, a PEG ratio of 2.66 and a beta of 0.78.

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

Medtronic Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, April 12th. Investors of record on Friday, March 22nd were issued a dividend of $0.69 per share. The ex-dividend date was Thursday, March 21st. This represents a $2.76 dividend on an annualized basis and a yield of 3.33%. Medtronic’s dividend payout ratio (DPR) is presently 87.90%.

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.