Meridian Wealth Management LLC Raises Position in Medtronic plc (NYSE:MDT)

Meridian Wealth Management LLC grew its stake in shares of Medtronic plc (NYSE:MDTFree Report) by 122.1% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 8,930 shares of the medical technology company’s stock after buying an additional 4,909 shares during the quarter. Meridian Wealth Management LLC’s holdings in Medtronic were worth $736,000 at the end of the most recent quarter.

Several other large investors have also recently modified their holdings of the stock. Loudon Investment Management LLC lifted its position in Medtronic by 9.5% in the fourth quarter. Loudon Investment Management LLC now owns 10,026 shares of the medical technology company’s stock valued at $786,000 after purchasing an additional 874 shares during the last quarter. BKM Wealth Management LLC purchased a new stake in Medtronic during the 4th quarter valued at $941,000. International Assets Investment Management LLC grew its holdings in Medtronic by 8,340.3% in the 4th quarter. International Assets Investment Management LLC now owns 1,038,579 shares of the medical technology company’s stock worth $85,558,000 after acquiring an additional 1,026,274 shares during the last quarter. Tower Research Capital LLC TRC raised its stake in shares of Medtronic by 69.3% during the third quarter. Tower Research Capital LLC TRC now owns 40,476 shares of the medical technology company’s stock valued at $3,172,000 after acquiring an additional 16,574 shares during the last quarter. Finally, Apollon Wealth Management LLC boosted its holdings in shares of Medtronic by 43.0% during the fourth quarter. Apollon Wealth Management LLC now owns 50,804 shares of the medical technology company’s stock worth $4,185,000 after purchasing an additional 15,265 shares during the period. Hedge funds and other institutional investors own 82.06% of the company’s stock.

Medtronic Trading Up 0.3 %

Medtronic stock opened at $85.92 on Friday. Medtronic plc has a 12-month low of $68.84 and a 12-month high of $91.00. The firm has a market capitalization of $114.09 billion, a price-to-earnings ratio of 27.36, a P/E/G ratio of 2.79 and a beta of 0.78. The firm has a 50 day moving average of $82.91 and a 200 day moving average of $82.26. The company has a current ratio of 2.30, a quick ratio of 1.71 and a debt-to-equity ratio of 0.46.

Medtronic (NYSE:MDTGet Free Report) last announced its quarterly earnings data 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 for the quarter, compared to the consensus estimate of $7.95 billion. Medtronic had a net margin of 13.00% and a return on equity of 13.71%. The company’s revenue was up 4.7% on a year-over-year basis. During the same period last year, the firm earned $1.30 EPS. As a group, research analysts predict that Medtronic plc will post 5.2 earnings per share for the current year.

Medtronic Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, April 12th. Investors of record on Friday, March 22nd were given a dividend of $0.69 per share. This represents a $2.76 annualized dividend and a dividend yield of 3.21%. The ex-dividend date of this dividend was Thursday, March 21st. Medtronic’s dividend payout ratio is currently 87.90%.

Insider Buying and Selling

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 directly owns 27,925 shares in the company, valued at approximately $2,321,684.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other Medtronic news, EVP Michael Marinaro sold 854 shares of the business’s stock in a transaction on Monday, April 8th. The shares were sold at an average price of $83.14, for a total value of $71,001.56. Following the sale, the executive vice president now owns 27,925 shares in the company, valued at approximately $2,321,684.50. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP Sean Salmon sold 30,695 shares of the stock in a transaction dated 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 transaction, 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 company insiders.

Analyst Upgrades and Downgrades

A number of research firms have commented on MDT. Mizuho upped 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 reiterated a “sector perform” rating and issued a $92.00 price target on shares of Medtronic in a report on Wednesday, February 21st. Oppenheimer raised their target price on shares of Medtronic from $89.00 to $92.00 and gave the stock a “market perform” rating in a research report on Wednesday, February 21st. Finally, Truist Financial boosted their price target on shares of Medtronic from $87.00 to $90.00 and gave the company a “hold” rating in a research report on Wednesday, February 21st. One 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 presently has a consensus rating of “Hold” and an average target price of $94.91.

View Our Latest Research Report on Medtronic

Medtronic Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Medtronic (NYSE:MDT)

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