Medtronic plc (NYSE:MDT) Shares Acquired by Hartford Funds Management Co LLC

Hartford Funds Management Co LLC boosted its position in Medtronic plc (NYSE:MDT) by 33.4% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 6,009 shares of the medical technology company’s stock after purchasing an additional 1,505 shares during the period. Hartford Funds Management Co LLC’s holdings in Medtronic were worth $495,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Marino Stram & Associates LLC grew its position in shares of Medtronic by 1.8% in the fourth 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 during the last quarter. Modera Wealth Management LLC increased its position in Medtronic by 3.9% during the third quarter. Modera Wealth Management LLC now owns 3,537 shares of the medical technology company’s stock worth $277,000 after buying an additional 133 shares in the last quarter. jvl associates llc raised its holdings in shares of Medtronic by 3.8% in the fourth 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 during the last quarter. Dfpg Investments LLC lifted its position in shares of Medtronic by 0.3% in the fourth quarter. Dfpg Investments LLC now owns 53,045 shares of the medical technology company’s stock valued at $4,413,000 after acquiring an additional 142 shares in the last quarter. Finally, DORCHESTER WEALTH MANAGEMENT Co boosted its stake in shares of Medtronic by 3.3% during the third quarter. DORCHESTER WEALTH MANAGEMENT Co now owns 4,653 shares of the medical technology company’s stock valued at $365,000 after acquiring an additional 150 shares during the last quarter. 82.06% of the stock is owned by institutional investors and hedge funds.

Medtronic Stock Down 0.8 %

NYSE MDT traded down $0.61 on Tuesday, reaching $80.25. The company had a trading volume of 6,487,312 shares, compared to its average volume of 6,251,118. The company has a debt-to-equity ratio of 0.46, a current ratio of 2.30 and a quick ratio of 1.71. Medtronic plc has a 1 year low of $68.84 and a 1 year high of $92.02. The firm has a 50-day moving average of $83.35 and a 200-day moving average of $81.38. The firm has a market capitalization of $106.56 billion, a PE ratio of 25.56, a P/E/G ratio of 2.73 and a beta of 0.76.

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

Medtronic Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, April 12th. Stockholders of record on Friday, March 22nd were given a dividend of $0.69 per share. This represents a $2.76 dividend on an annualized basis and a dividend yield of 3.44%. The ex-dividend date was Thursday, March 21st. Medtronic’s payout ratio is 87.90%.

Analysts Set New Price Targets

MDT has been the topic of several recent analyst reports. Truist Financial upped their price objective on shares of Medtronic from $87.00 to $90.00 and gave the company a “hold” rating in a research note on Wednesday, February 21st. Royal Bank of Canada restated a “sector perform” rating and set a $92.00 price objective on shares of Medtronic in a report on Wednesday, February 21st. Mizuho upped their target price on Medtronic from $95.00 to $98.00 and gave the company a “buy” rating in a research note on Wednesday, February 21st. Finally, Oppenheimer raised their price target on Medtronic from $89.00 to $92.00 and gave the stock a “market perform” rating in a research note on Wednesday, February 21st. One research analyst has rated the stock with a sell rating, four have given a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat, Medtronic has an average rating of “Hold” and an average target price of $94.91.

Insider Transactions at Medtronic

In other Medtronic news, EVP Sean Salmon sold 30,695 shares of the company’s stock in a transaction that occurred on Wednesday, February 21st. The stock was sold at an average price of $85.13, for a total value of $2,613,065.35. Following the transaction, the executive vice president now directly owns 48,289 shares of the company’s stock, valued at approximately $4,110,842.57. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In related news, EVP Michael Marinaro sold 854 shares of Medtronic stock in a transaction dated 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 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 can be accessed through the SEC website. Also, EVP Sean Salmon sold 30,695 shares of the company’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 sale, the executive vice president now owns 48,289 shares in the company, valued at approximately $4,110,842.57. The disclosure for this sale can be found here. Corporate insiders own 0.30% of the company’s stock.

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.