Medtronic plc (NYSE:MDT) Stock Holdings Raised by Heritage Investors Management Corp

Heritage Investors Management Corp increased its position in Medtronic plc (NYSE:MDT) by 8.9% in the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 76,666 shares of the medical technology company’s stock after purchasing an additional 6,235 shares during the period. Heritage Investors Management Corp’s holdings in Medtronic were worth $6,316,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Fortitude Family Office LLC bought a new position in Medtronic during the fourth quarter worth $25,000. Leith Wheeler Investment Counsel Ltd. grew its position in shares of 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 acquired a new stake in Medtronic during the fourth quarter worth about $27,000. Financial Gravity Asset Management Inc. lifted its holdings in 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 last quarter. Finally, Princeton Global Asset Management LLC acquired a new stake in shares of Medtronic during the 3rd quarter worth approximately $31,000. 82.06% of the stock is owned by institutional investors.

Medtronic Trading Up 1.5 %

Shares of Medtronic stock traded up $1.21 on Thursday, reaching $82.76. 5,545,134 shares of the company were exchanged, compared to its average volume of 6,155,512. The company has a current ratio of 2.30, a quick ratio of 1.71 and a debt-to-equity ratio of 0.46. Medtronic plc has a fifty-two week low of $68.84 and a fifty-two week high of $91.00. The firm has a market capitalization of $109.89 billion, a price-to-earnings ratio of 26.36, a price-to-earnings-growth ratio of 2.66 and a beta of 0.78. The stock has a fifty day moving average price of $82.97 and a 200-day moving average price of $81.69.

Medtronic (NYSE:MDT) last posted its quarterly earnings data on Tuesday, February 20th. The medical technology company reported $1.30 EPS for the quarter, beating analysts’ consensus estimates of $1.26 by $0.04. Medtronic had a net margin of 13.00% and a return on equity of 13.71%. The company had revenue of $8.09 billion during the quarter, compared to analyst estimates 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% on a year-over-year basis. On average, analysts expect that Medtronic plc will post 5.2 EPS for the current 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 issued a $0.69 dividend. The ex-dividend date of this dividend was Thursday, March 21st. This represents a $2.76 dividend on an annualized basis and a dividend yield of 3.33%. Medtronic’s dividend payout ratio is 87.90%.

Analysts Set New Price Targets

Several brokerages have weighed in on MDT. Mizuho increased their target price on Medtronic from $95.00 to $98.00 and gave the stock a “buy” rating in a research report on Wednesday, February 21st. Royal Bank of Canada restated a “sector perform” rating and issued a $92.00 target price on shares of Medtronic in a research report on Wednesday, February 21st. Truist Financial raised their price target on Medtronic from $87.00 to $90.00 and gave the company a “hold” rating in a report on Wednesday, February 21st. Finally, Oppenheimer upped their price target on shares of Medtronic from $89.00 to $92.00 and gave the stock a “market perform” rating 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 given a buy rating to the company’s stock. Based on data from MarketBeat, Medtronic has an average rating of “Hold” and a consensus price target of $94.91.

Insider Transactions at Medtronic

In related news, EVP Sean Salmon sold 30,695 shares of the firm’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 transaction of $2,613,065.35. Following the transaction, the executive vice president now owns 48,289 shares of the company’s stock, valued at $4,110,842.57. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other news, EVP Michael Marinaro sold 854 shares of the 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 transaction, the executive vice president now owns 27,925 shares of the company’s stock, valued at approximately $2,321,684.50. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, 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 sale, the executive vice president now directly 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. 0.30% of the stock is owned by insiders.

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.