Wealthspire Advisors LLC Grows Stock Holdings in Medtronic plc (NYSE:MDT)

Wealthspire Advisors LLC increased its stake in Medtronic plc (NYSE:MDT) by 15.6% during the 4th quarter, HoldingsChannel reports. The firm owned 11,050 shares of the medical technology company’s stock after buying an additional 1,492 shares during the period. Wealthspire Advisors LLC’s holdings in Medtronic were worth $910,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also added to or reduced their stakes in the stock. Marino Stram & Associates LLC raised its position in Medtronic by 1.8% during the 4th quarter. Marino Stram & Associates LLC now owns 7,127 shares of the medical technology company’s stock valued at $587,000 after purchasing an additional 126 shares in the last quarter. Rogco LP raised its holdings in shares of Medtronic by 1.9% in the fourth quarter. Rogco LP now owns 6,814 shares of the medical technology company’s stock valued at $561,000 after acquiring an additional 129 shares in the last quarter. Modera Wealth Management LLC lifted its stake in Medtronic by 3.9% in the third quarter. Modera Wealth Management LLC now owns 3,537 shares of the medical technology company’s stock worth $277,000 after acquiring an additional 133 shares during the period. jvl associates llc grew its holdings in Medtronic by 3.8% during the 4th quarter. jvl associates llc now owns 3,840 shares of the medical technology company’s stock worth $316,000 after acquiring an additional 139 shares in the last quarter. Finally, Dfpg Investments LLC increased its position in Medtronic by 0.3% during the 4th quarter. Dfpg Investments LLC now owns 53,045 shares of the medical technology company’s stock valued at $4,413,000 after purchasing an additional 142 shares during the period. Institutional investors own 82.06% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have weighed in on the company. Truist Financial upped their target price on Medtronic from $87.00 to $90.00 and gave the stock a “hold” rating in a report on Wednesday, February 21st. Royal Bank of Canada reissued a “sector perform” rating and issued a $92.00 price target on shares of Medtronic in a research report on Wednesday, February 21st. Oppenheimer raised their price objective on Medtronic from $89.00 to $92.00 and gave the company a “market perform” rating in a research report on Wednesday, February 21st. Finally, Mizuho boosted 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 investment analyst has rated the stock with a sell rating, four have assigned a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat, Medtronic has an average rating of “Hold” and an average target price of $94.91.

Medtronic Stock Performance

Shares of NYSE MDT traded up $0.08 during mid-day trading on Friday, hitting $82.84. The stock had a trading volume of 321,854 shares, compared to its average volume of 6,089,522. The firm has a market cap of $110.00 billion, a PE ratio of 26.36, a PEG ratio of 2.66 and a beta of 0.78. The company has a debt-to-equity ratio of 0.46, a quick ratio of 1.71 and a current ratio of 2.30. The company has a 50 day moving average of $82.97 and a two-hundred day moving average of $81.69. Medtronic plc has a twelve month low of $68.84 and a twelve month high of $91.00.

Medtronic (NYSE:MDT) last posted its quarterly earnings results 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. Medtronic had a return on equity of 13.71% and a net margin of 13.00%. The business had revenue of $8.09 billion for the quarter, compared to the consensus estimate of $7.95 billion. During the same quarter in the previous year, the business earned $1.30 EPS. The company’s quarterly revenue was up 4.7% compared to the same quarter last year. Research analysts predict that Medtronic plc will post 5.2 EPS for the current fiscal year.

Medtronic Announces Dividend

The firm also recently declared 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 3.33%. Medtronic’s dividend payout ratio (DPR) is presently 87.90%.

Insiders Place Their Bets

In related news, EVP Michael Marinaro sold 854 shares of the business’s stock in a transaction on Monday, April 8th. The shares were sold at an average price of $83.14, for a total transaction of $71,001.56. Following the completion of the transaction, the executive vice president now directly owns 27,925 shares in the company, valued at $2,321,684.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, EVP Michael Marinaro sold 854 shares of the firm’s stock in a transaction dated Monday, April 8th. The stock was sold at an average price of $83.14, for a total transaction of $71,001.56. Following 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 filing with the SEC, which can be accessed 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 transaction, 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 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.