Medtronic plc (NYSE:MDT) Shares Acquired by Mackenzie Financial Corp

Mackenzie Financial Corp boosted its stake in shares of Medtronic plc (NYSE:MDT) by 11.5% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 477,512 shares of the medical technology company’s stock after purchasing an additional 49,270 shares during the quarter. Mackenzie Financial Corp’s holdings in Medtronic were worth $39,337,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. SRS Capital Advisors Inc. grew its position in Medtronic by 19.6% during the second quarter. SRS Capital Advisors Inc. now owns 782 shares of the medical technology company’s stock worth $69,000 after buying an additional 128 shares during the period. Modera Wealth Management LLC grew its position in Medtronic by 3.9% during the third quarter. Modera Wealth Management LLC now owns 3,537 shares of the medical technology company’s stock worth $277,000 after buying an additional 133 shares during the period. jvl associates llc grew its position in Medtronic by 3.8% during 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 during the period. Washington Trust Advisors Inc. grew its position in Medtronic by 7.1% during 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 during the period. Finally, Dfpg Investments LLC grew its position in Medtronic by 0.3% during the fourth quarter. Dfpg Investments LLC now owns 53,045 shares of the medical technology company’s stock worth $4,413,000 after buying an additional 142 shares during the period. 82.06% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on the stock. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $92.00 price target on shares of Medtronic in a report on Wednesday, February 21st. Mizuho upped their price target on shares of Medtronic from $95.00 to $98.00 and gave the company a “buy” rating in a report on Wednesday, February 21st. Oppenheimer upped their price target on shares of Medtronic from $89.00 to $92.00 and gave the company a “market perform” rating in a report on Wednesday, February 21st. Finally, Truist Financial upped their price target on shares of Medtronic from $87.00 to $90.00 and gave the company a “hold” rating in a report on Wednesday, February 21st. One analyst has rated the stock with a sell rating, four have issued a hold rating and seven have assigned a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $94.91.

Medtronic Trading Down 1.2 %

Shares of NYSE:MDT opened at $79.25 on Wednesday. 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’s 50-day moving average price is $84.35 and its 200 day moving average price is $81.02. Medtronic plc has a fifty-two week low of $68.84 and a fifty-two week high of $92.02. 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 issued its quarterly earnings data on Tuesday, February 20th. The medical technology company reported $1.30 earnings per share 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%. Medtronic’s quarterly revenue was up 4.7% compared to the same quarter last year. During the same period last year, the firm posted $1.30 EPS. Sell-side analysts anticipate that Medtronic plc will post 5.2 earnings per share for the current 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 paid a dividend of $0.69 per share. The ex-dividend date was Thursday, March 21st. This represents a $2.76 annualized dividend and a yield of 3.48%. Medtronic’s payout ratio is 87.90%.

Insider Buying and Selling at Medtronic

In other news, EVP Sean Salmon sold 30,695 shares of Medtronic stock in a transaction that occurred on Wednesday, February 21st. The shares were sold at an average price of $85.13, for a total value of $2,613,065.35. Following the transaction, 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 filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, EVP Michael Marinaro sold 854 shares of Medtronic stock in a transaction that occurred 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 transaction, the executive vice president now owns 27,925 shares of the company’s stock, valued at approximately $2,321,684.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Sean Salmon sold 30,695 shares of Medtronic stock in a transaction that occurred on 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 completion of the transaction, the executive vice president now directly owns 48,289 shares in the company, valued at approximately $4,110,842.57. The disclosure for this sale can be found here. 0.30% of the stock is owned by corporate insiders.

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.