Financial Perspectives Inc Has $19.71 Million Holdings in Medtronic plc (NYSE:MDT)

Financial Perspectives Inc decreased its stake in Medtronic plc (NYSE:MDT) by 0.7% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 239,270 shares of the medical technology company’s stock after selling 1,744 shares during the period. Medtronic accounts for approximately 8.0% of Financial Perspectives Inc’s holdings, making the stock its largest position. Financial Perspectives Inc’s holdings in Medtronic were worth $19,711,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of MDT. Morgan Stanley grew its holdings in Medtronic by 9.2% during the third quarter. Morgan Stanley now owns 23,777,808 shares of the medical technology company’s stock worth $1,863,229,000 after purchasing an additional 1,994,123 shares during the period. Bank of New York Mellon Corp lifted its position in Medtronic by 2.6% during the third quarter. Bank of New York Mellon Corp now owns 20,392,467 shares of the medical technology company’s stock worth $1,597,954,000 after acquiring an additional 508,205 shares during the last quarter. Northern Trust Corp lifted its position in Medtronic by 2.1% during the third quarter. Northern Trust Corp now owns 13,622,933 shares of the medical technology company’s stock worth $1,067,493,000 after acquiring an additional 285,819 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its position in Medtronic by 0.7% during the third quarter. Charles Schwab Investment Management Inc. now owns 10,988,289 shares of the medical technology company’s stock worth $843,979,000 after acquiring an additional 79,660 shares during the last quarter. Finally, American Century Companies Inc. lifted its position in Medtronic by 6.7% during the third quarter. American Century Companies Inc. now owns 10,297,135 shares of the medical technology company’s stock worth $806,883,000 after acquiring an additional 649,367 shares during the last quarter. Institutional investors own 82.06% of the company’s stock.

Insider Activity 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 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. Also, EVP Michael Marinaro sold 854 shares of the company’s stock in a transaction dated Monday, April 8th. The shares were sold at an average price of $83.14, for a total transaction of $71,001.56. Following the transaction, the executive vice president now owns 27,925 shares in the company, valued at approximately $2,321,684.50. The disclosure for this sale can be found here. 0.30% of the stock is owned by company insiders.

Analyst Ratings Changes

Several equities research analysts have issued reports on MDT shares. Royal Bank of Canada restated a “sector perform” rating and set a $92.00 price objective on shares of Medtronic in a research report on Wednesday, February 21st. Oppenheimer lifted their price target on shares of Medtronic from $89.00 to $92.00 and gave the company a “market perform” rating in a research report on Wednesday, February 21st. Mizuho lifted their price target on shares of Medtronic from $95.00 to $98.00 and gave the company a “buy” rating in a research report on Wednesday, February 21st. Finally, Truist Financial boosted their price objective 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 investment 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. According to data from MarketBeat, Medtronic has a consensus rating of “Moderate Buy” and a consensus price target of $94.91.

Medtronic Trading Up 0.9 %

Shares of Medtronic stock traded up $0.71 during trading on Tuesday, hitting $81.28. The company’s stock had a trading volume of 5,296,122 shares, compared to its average volume of 6,290,356. The company has a debt-to-equity ratio of 0.46, a current ratio of 2.30 and a quick ratio of 1.71. Medtronic plc has a 52 week low of $68.84 and a 52 week high of $92.02. The stock has a market cap of $107.93 billion, a price-to-earnings ratio of 25.75, a price-to-earnings-growth ratio of 2.72 and a beta of 0.76. The stock has a 50-day moving average price of $83.84 and a two-hundred day moving average price of $81.11.

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, topping 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 company had revenue of $8.09 billion for the quarter, compared to analysts’ expectations of $7.95 billion. During the same quarter in the previous year, the firm posted $1.30 earnings per share. Medtronic’s revenue for the quarter was up 4.7% on a year-over-year basis. Equities research analysts anticipate that Medtronic plc will post 5.2 EPS for the current fiscal year.

Medtronic Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, April 12th. Investors of record on Friday, March 22nd were issued a $0.69 dividend. The ex-dividend date of this dividend was Thursday, March 21st. This represents a $2.76 annualized dividend and a yield of 3.40%. Medtronic’s payout ratio is 87.90%.

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.