K.J. Harrison & Partners Inc Purchases Shares of 4,800 Medtronic plc (NYSE:MDT)

K.J. Harrison & Partners Inc purchased a new stake in Medtronic plc (NYSE:MDT) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 4,800 shares of the medical technology company’s stock, valued at approximately $395,000.

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. Fortitude Family Office LLC acquired a new stake in shares of Medtronic in the 4th quarter valued at $25,000. Hartford Financial Management Inc. lifted its position in Medtronic by 425.0% during the 3rd quarter. Hartford Financial Management Inc. now owns 315 shares of the medical technology company’s stock worth $25,000 after buying an additional 255 shares in the last quarter. Financial Gravity Asset Management Inc. lifted its position in Medtronic by 317.0% during the 3rd quarter. Financial Gravity Asset Management Inc. now owns 367 shares of the medical technology company’s stock worth $29,000 after buying an additional 279 shares in the last quarter. Princeton Global Asset Management LLC acquired a new position in Medtronic during the 3rd quarter worth about $31,000. Finally, Rakuten Securities Inc. acquired a new position in Medtronic during the 4th quarter valued at about $49,000. Institutional investors own 82.06% of the company’s stock.

Medtronic Stock Up 0.6 %

NYSE:MDT traded up $0.49 during trading hours on Friday, reaching $79.74. 5,024,880 shares of the stock were exchanged, compared to its average volume of 5,781,218. Medtronic plc has a twelve month low of $68.84 and a twelve month high of $92.02. The company has a debt-to-equity ratio of 0.46, a current ratio of 2.30 and a quick ratio of 1.71. The firm has a 50 day moving average of $83.53 and a 200 day moving average of $81.16. The stock has a market cap of $105.88 billion, a PE ratio of 25.39, a PEG ratio of 2.71 and a beta of 0.76.

Medtronic (NYSE:MDT) last released 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 company had revenue of $8.09 billion during the quarter, compared to the consensus estimate of $7.95 billion. Medtronic had a return on equity of 13.71% and a net margin of 13.00%. The firm’s revenue for the quarter was up 4.7% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.30 EPS. On average, equities analysts expect that Medtronic plc will post 5.2 earnings per share for the current year.

Medtronic Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, April 12th. Stockholders of record on Friday, March 22nd were issued a $0.69 dividend. This represents a $2.76 annualized dividend and a dividend yield of 3.46%. The ex-dividend date of this dividend was Thursday, March 21st. Medtronic’s payout ratio is presently 87.90%.

Analysts Set New Price Targets

A number of brokerages have recently 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 note on Wednesday, February 21st. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $92.00 price target on shares of Medtronic in a research note on Wednesday, February 21st. Truist Financial upped their price target on Medtronic from $87.00 to $90.00 and gave the company a “hold” rating in a research note on Wednesday, February 21st. Finally, Oppenheimer upped their price target on Medtronic from $89.00 to $92.00 and gave the company a “market perform” rating in a research note on Wednesday, February 21st. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $94.91.

Insider Activity

In other Medtronic news, EVP Sean Salmon sold 30,695 shares of the firm’s stock in a transaction 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 sale, 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 legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other Medtronic news, EVP Sean Salmon sold 30,695 shares of the firm’s stock in a transaction 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 sale, 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 legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Michael Marinaro sold 854 shares of the stock in a transaction 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 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 currently owned by 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.