Parkside Financial Bank & Trust Has $517,000 Stock Position in Medtronic plc (NYSE:MDT)

Parkside Financial Bank & Trust boosted its position in Medtronic plc (NYSE:MDT) by 5.5% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 6,277 shares of the medical technology company’s stock after purchasing an additional 328 shares during the period. Parkside Financial Bank & Trust’s holdings in Medtronic were worth $517,000 as of its most recent filing with the SEC.

Several other hedge funds have also bought and sold shares of MDT. Fortitude Family Office LLC acquired a new stake in Medtronic during the fourth quarter worth approximately $25,000. Hartford Financial Management Inc. lifted its position in Medtronic by 425.0% during the third quarter. Hartford Financial Management Inc. now owns 315 shares of the medical technology company’s stock worth $25,000 after acquiring an additional 255 shares during the last quarter. Financial Gravity Asset Management Inc. lifted its position in Medtronic by 317.0% during the third quarter. Financial Gravity Asset Management Inc. now owns 367 shares of the medical technology company’s stock worth $29,000 after acquiring an additional 279 shares during the last quarter. Princeton Global Asset Management LLC acquired a new stake in Medtronic during the third quarter worth approximately $31,000. Finally, SJS Investment Consulting Inc. lifted its position in Medtronic by 96.4% during the third quarter. SJS Investment Consulting Inc. now owns 485 shares of the medical technology company’s stock worth $38,000 after acquiring an additional 238 shares during the last quarter. 82.06% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Medtronic

In related news, EVP Sean Salmon sold 30,695 shares of the business’s stock in a transaction 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 in the company, valued at $4,110,842.57. The transaction was disclosed in a document filed with the SEC, which is available through this link. In other Medtronic news, EVP Michael Marinaro sold 854 shares of Medtronic 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 completion of the sale, the executive vice president now directly owns 27,925 shares of the company’s stock, valued at $2,321,684.50. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, EVP Sean Salmon sold 30,695 shares of Medtronic stock in a transaction 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 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. 0.30% of the stock is owned by company insiders.

Medtronic Price Performance

Medtronic stock traded up $0.38 during mid-day trading on Tuesday, reaching $80.95. The company had a trading volume of 3,038,160 shares, compared to its average volume of 6,258,406. Medtronic plc has a fifty-two week low of $68.84 and a fifty-two week high of $92.02. The company has a current ratio of 2.30, a quick ratio of 1.71 and a debt-to-equity ratio of 0.46. The company has a market cap of $107.49 billion, a P/E ratio of 25.75, a P/E/G ratio of 2.72 and a beta of 0.76. The business has a fifty day simple moving average of $83.84 and a 200 day simple moving average of $81.11.

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

Medtronic Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, April 12th. Stockholders of record on Friday, March 22nd were issued a dividend of $0.69 per share. The ex-dividend date of this dividend was Thursday, March 21st. This represents a $2.76 dividend on an annualized basis and a dividend yield of 3.41%. Medtronic’s dividend payout ratio (DPR) is presently 87.90%.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on MDT shares. Truist Financial raised 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. 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 report on Wednesday, February 21st. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $92.00 target price on shares of Medtronic in a report on Wednesday, February 21st. Finally, Mizuho raised 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. One analyst has rated the stock with a sell rating, four have issued a hold rating and seven have issued a buy rating to the company’s stock. According to MarketBeat, Medtronic currently has an average rating of “Moderate Buy” and a consensus target price of $94.91.

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.