Haverford Financial Services Inc. Has $9.80 Million Holdings in Medtronic plc (NYSE:MDT)

Haverford Financial Services Inc. lifted its position in shares of Medtronic plc (NYSE:MDTFree Report) by 0.2% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 118,999 shares of the medical technology company’s stock after acquiring an additional 205 shares during the quarter. Medtronic makes up approximately 2.9% of Haverford Financial Services Inc.’s portfolio, making the stock its 17th biggest position. Haverford Financial Services Inc.’s holdings in Medtronic were worth $9,803,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of MDT. Fortitude Family Office LLC bought a new stake in shares of Medtronic during the fourth quarter worth about $25,000. MeadowBrook Investment Advisors LLC bought a new position in Medtronic during the 4th quarter worth $27,000. Financial Gravity Asset Management Inc. lifted its holdings 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 during the period. Hartford Financial Management Inc. grew its position in shares of Medtronic by 52.1% in the 4th quarter. Hartford Financial Management Inc. now owns 479 shares of the medical technology company’s stock valued at $39,000 after buying an additional 164 shares during the last quarter. Finally, Rakuten Securities Inc. acquired a new stake in shares of Medtronic in the fourth quarter valued at about $49,000. Institutional investors own 82.06% of the company’s stock.

Medtronic Stock Up 0.3 %

NYSE:MDT traded up $0.28 on Friday, hitting $85.92. The stock had a trading volume of 8,236,275 shares, compared to its average volume of 5,266,071. The company has a quick ratio of 1.71, a current ratio of 2.30 and a debt-to-equity ratio of 0.46. Medtronic plc has a 52 week low of $68.84 and a 52 week high of $91.00. The business’s fifty day moving average is $82.91 and its 200 day moving average is $82.26. The company has a market cap of $114.09 billion, a PE ratio of 27.36, a P/E/G ratio of 2.79 and a beta of 0.78.

Medtronic (NYSE:MDTGet Free Report) last issued its earnings results on Tuesday, February 20th. The medical technology company reported $1.30 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.26 by $0.04. Medtronic had a return on equity of 13.71% and a net margin of 13.00%. The company had revenue of $8.09 billion for the quarter, compared to analysts’ expectations of $7.95 billion. During the same period last year, the business earned $1.30 EPS. Medtronic’s quarterly revenue was up 4.7% compared to the same quarter last year. On average, equities research analysts expect that Medtronic plc will post 5.2 EPS for the current fiscal year.

Medtronic Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, April 12th. Shareholders of record on Friday, March 22nd were paid 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 yield of 3.21%. Medtronic’s dividend payout ratio (DPR) is currently 87.90%.

Insider Transactions at Medtronic

In related news, 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 completion of the sale, the executive vice president now directly owns 27,925 shares of the company’s stock, valued at approximately $2,321,684.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other Medtronic news, EVP Sean Salmon sold 30,695 shares of the stock in a transaction dated 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 in the company, valued at approximately $4,110,842.57. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, EVP Michael Marinaro sold 854 shares of the business’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 value of $71,001.56. Following the completion of 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. Company insiders own 0.30% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts recently commented on MDT shares. Mizuho lifted their price objective on Medtronic from $95.00 to $98.00 and gave the stock a “buy” rating in a research note on Wednesday, February 21st. Oppenheimer upped their price objective on shares of Medtronic from $89.00 to $92.00 and gave the company a “market perform” rating in a research note on Wednesday, February 21st. Truist Financial lifted their target price on shares of Medtronic from $87.00 to $90.00 and gave the stock a “hold” rating in a research note on Wednesday, February 21st. Finally, Royal Bank of Canada reaffirmed a “sector perform” rating and set a $92.00 price target on shares of Medtronic in a research 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 company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $94.91.

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Medtronic Company Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Medtronic (NYSE:MDT)

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