Apollon Wealth Management LLC Purchases 15,265 Shares of Medtronic plc (NYSE:MDT)

Apollon Wealth Management LLC lifted its position in Medtronic plc (NYSE:MDT) by 43.0% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 50,804 shares of the medical technology company’s stock after buying an additional 15,265 shares during the period. Apollon Wealth Management LLC’s holdings in Medtronic were worth $4,185,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Fortitude Family Office LLC purchased a new stake in shares of Medtronic during the 4th quarter valued at about $25,000. Leith Wheeler Investment Counsel Ltd. raised its stake in Medtronic by 293.0% during the 4th quarter. Leith Wheeler Investment Counsel Ltd. now owns 316,643 shares of the medical technology company’s stock valued at $26,000 after buying an additional 236,064 shares during the last quarter. MeadowBrook Investment Advisors LLC bought a new position in shares of Medtronic during the 4th quarter valued at $27,000. Financial Gravity Asset Management Inc. grew its holdings in shares of Medtronic by 317.0% in 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 period. Finally, Princeton Global Asset Management LLC bought a new position in Medtronic in the third quarter valued at about $31,000. Institutional investors own 82.06% of the company’s stock.

Medtronic Price Performance

Shares of Medtronic stock traded up $0.08 during trading hours on Monday, reaching $81.77. The company’s stock had a trading volume of 3,676,129 shares, compared to its average volume of 6,199,255. The firm has a 50 day moving average price of $83.05 and a 200-day moving average price of $81.63. 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 stock has a market cap of $108.57 billion, a P/E ratio of 26.04, a P/E/G ratio of 2.66 and a beta of 0.78. Medtronic plc has a one year low of $68.84 and a one year high of $91.00.

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. The company had revenue of $8.09 billion for the quarter, compared to analysts’ expectations 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% on a year-over-year basis. During the same period in the previous year, the firm posted $1.30 earnings per share. On average, analysts predict that Medtronic plc will post 5.2 EPS for the current year.

Medtronic Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, April 12th. Stockholders of record on Friday, March 22nd were paid a $0.69 dividend. This represents a $2.76 annualized dividend and a dividend yield of 3.38%. The ex-dividend date was Thursday, March 21st. Medtronic’s dividend payout ratio is currently 87.90%.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on MDT shares. Oppenheimer raised their price objective 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. Truist Financial lifted their target price on Medtronic from $87.00 to $90.00 and gave the company a “hold” rating in a research report on Wednesday, February 21st. Mizuho upped their price target on Medtronic from $95.00 to $98.00 and gave the stock a “buy” rating in a research report on Wednesday, February 21st. Finally, Royal Bank of Canada reiterated a “sector perform” rating and set a $92.00 price objective on shares of Medtronic in a research note on Wednesday, February 21st. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $94.91.

Insider Transactions at Medtronic

In other news, EVP Michael Marinaro sold 854 shares of the company’s stock in a transaction that occurred on Monday, April 8th. The stock was 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 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 this link. In other Medtronic news, 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 value of $71,001.56. Following the transaction, the executive vice president now directly owns 27,925 shares in the company, valued at approximately $2,321,684.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Sean Salmon sold 30,695 shares of the business’s 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 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 disclosure for this sale can be found here. Company insiders own 0.30% of the company’s stock.

Medtronic Company 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.