Benjamin F. Edwards & Company Inc. Has $18.50 Million Holdings in Medtronic plc (NYSE:MDT)

Benjamin F. Edwards & Company Inc. increased its holdings in shares of Medtronic plc (NYSE:MDT) by 435.1% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 224,520 shares of the medical technology company’s stock after buying an additional 182,561 shares during the quarter. Benjamin F. Edwards & Company Inc.’s holdings in Medtronic were worth $18,496,000 as of its most recent SEC filing.

Several other hedge funds have also added to or reduced their stakes in the business. Marino Stram & Associates LLC raised its stake 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 worth $587,000 after buying an additional 126 shares during the period. Rogco LP raised its stake in shares of Medtronic by 1.9% in the 4th quarter. Rogco LP now owns 6,814 shares of the medical technology company’s stock valued at $561,000 after purchasing an additional 129 shares during the period. Modera Wealth Management LLC raised its stake in shares of Medtronic by 3.9% in the 3rd quarter. Modera Wealth Management LLC now owns 3,537 shares of the medical technology company’s stock valued at $277,000 after purchasing an additional 133 shares during the period. jvl associates llc raised its stake in shares of Medtronic by 3.8% in the 4th quarter. jvl associates llc now owns 3,840 shares of the medical technology company’s stock valued at $316,000 after purchasing an additional 139 shares during the period. Finally, Dfpg Investments LLC raised its stake in shares of Medtronic by 0.3% in 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 and hedge funds own 82.06% of the company’s stock.

Medtronic Stock Performance

Medtronic stock traded up $0.03 during midday trading on Thursday, reaching $80.92. 6,221,978 shares of the company’s stock were exchanged, compared to its average volume of 6,241,826. Medtronic plc has a 52 week low of $68.84 and a 52 week high of $92.02. 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 firm has a market cap of $107.45 billion, a price-to-earnings ratio of 25.77, a P/E/G ratio of 2.75 and a beta of 0.78. The stock’s 50-day simple moving average is $83.25 and its 200 day simple moving average is $81.37.

Medtronic (NYSE:MDT) last issued its quarterly earnings data 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 during the quarter, compared to analysts’ expectations of $7.95 billion. During the same quarter in the previous year, the company posted $1.30 earnings per share. The business’s revenue was up 4.7% on a year-over-year basis. On average, analysts expect that Medtronic plc will post 5.2 earnings per share for the current fiscal year.

Medtronic Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, April 12th. Stockholders of record on Friday, March 22nd were issued a dividend of $0.69 per share. This represents a $2.76 dividend on an annualized basis and a dividend yield of 3.41%. The ex-dividend date was Thursday, March 21st. Medtronic’s dividend payout ratio is presently 87.90%.

Insider Transactions at Medtronic

In other news, 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 transaction of $71,001.56. Following the completion of the sale, the executive vice president now owns 27,925 shares in the company, valued at $2,321,684.50. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. In other news, EVP Michael Marinaro sold 854 shares of Medtronic stock in a transaction that occurred on Monday, April 8th. The shares were 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 in the company, valued at $2,321,684.50. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, EVP Sean Salmon sold 30,695 shares of Medtronic stock in a transaction that occurred on Wednesday, February 21st. The shares were 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 $4,110,842.57. The disclosure for this sale can be found here. Corporate insiders own 0.30% of the company’s stock.

Wall Street Analyst Weigh In

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

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.