Sfmg LLC Increases Stake in Medtronic plc (NYSE:MDT)

Sfmg LLC grew its stake in shares of Medtronic plc (NYSE:MDT) by 5.7% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 44,442 shares of the medical technology company’s stock after purchasing an additional 2,382 shares during the quarter. Sfmg LLC’s holdings in Medtronic were worth $3,661,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Marino Stram & Associates LLC grew its stake in Medtronic by 1.8% during the fourth quarter. Marino Stram & Associates LLC now owns 7,127 shares of the medical technology company’s stock valued at $587,000 after acquiring an additional 126 shares in the last quarter. SRS Capital Advisors Inc. grew its position in shares of Medtronic by 19.6% during the second quarter. SRS Capital Advisors Inc. now owns 782 shares of the medical technology company’s stock valued at $69,000 after purchasing an additional 128 shares in the last quarter. Modera Wealth Management LLC increased its holdings in shares of Medtronic by 3.9% in the third quarter. Modera Wealth Management LLC now owns 3,537 shares of the medical technology company’s stock worth $277,000 after purchasing an additional 133 shares during the last quarter. jvl associates llc lifted its position in shares of Medtronic by 3.8% in the fourth quarter. jvl associates llc now owns 3,840 shares of the medical technology company’s stock worth $316,000 after buying an additional 139 shares in the last quarter. Finally, Washington Trust Advisors Inc. lifted its position in shares of Medtronic by 7.1% in the third quarter. Washington Trust Advisors Inc. now owns 2,102 shares of the medical technology company’s stock worth $165,000 after buying an additional 140 shares in the last quarter. Hedge funds and other institutional investors own 82.06% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on MDT shares. Mizuho raised their target price on shares of Medtronic from $95.00 to $98.00 and gave the company a “buy” rating in a report on Wednesday, February 21st. Royal Bank of Canada reissued a “sector perform” rating and issued a $92.00 price objective on shares of Medtronic in a research note on Wednesday, February 21st. Truist Financial upped their target price 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. Finally, Oppenheimer lifted their price target on Medtronic from $89.00 to $92.00 and gave the stock a “market perform” rating in a research report on Wednesday, February 21st. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat, Medtronic presently has an average rating of “Moderate Buy” and an average price target of $94.91.

Medtronic Stock Down 1.2 %

Shares of MDT stock traded down $0.98 on Wednesday, hitting $79.25. The stock had a trading volume of 7,674,490 shares, compared to its average volume of 5,758,655. Medtronic plc has a one year low of $68.84 and a one year high of $92.02. The business has a 50 day moving average price of $84.35 and a 200 day moving average price of $81.02. The company has a market cap of $105.23 billion, a PE ratio of 25.24, a P/E/G ratio of 2.74 and a beta of 0.76. The company has a quick ratio of 1.71, a current ratio of 2.30 and a debt-to-equity ratio of 0.46.

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. Medtronic had a net margin of 13.00% and a return on equity of 13.71%. The business had revenue of $8.09 billion during the quarter, compared to analyst estimates of $7.95 billion. During the same quarter in the previous year, the business posted $1.30 EPS. The company’s quarterly revenue was up 4.7% compared to the same quarter last year. Research analysts anticipate that Medtronic plc will post 5.2 earnings per share for the current fiscal year.

Medtronic Dividend Announcement

The business also recently announced 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. The ex-dividend date of this dividend was Thursday, March 21st. This represents a $2.76 annualized dividend and a yield of 3.48%. Medtronic’s dividend payout ratio (DPR) is presently 87.90%.

Insider Activity

In related news, EVP Sean Salmon sold 30,695 shares of the 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 completion of the sale, the executive vice president now owns 48,289 shares of the company’s stock, valued at $4,110,842.57. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Medtronic news, EVP Sean Salmon sold 30,695 shares of the business’s 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 in the company, valued at approximately $4,110,842.57. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP Michael Marinaro sold 854 shares of the stock in a transaction dated Monday, April 8th. The shares were 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 $2,321,684.50. The disclosure for this sale can be found here. Company 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.