17,879 Shares in Medtronic plc (NYSE:MDT) Bought by Millington Financial Advisors LLC

Millington Financial Advisors LLC purchased a new stake in Medtronic plc (NYSE:MDT) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 17,879 shares of the medical technology company’s stock, valued at approximately $1,473,000. Medtronic makes up about 1.2% of Millington Financial Advisors LLC’s holdings, making the stock its 27th largest position.

A number of other institutional investors also recently bought and sold shares of the business. BKM Wealth Management LLC acquired a new stake in Medtronic during the 4th quarter worth $941,000. International Assets Investment Management LLC boosted its position in shares of Medtronic by 8,340.3% in the 4th quarter. International Assets Investment Management LLC now owns 1,038,579 shares of the medical technology company’s stock valued at $85,558,000 after purchasing an additional 1,026,274 shares during the period. Tower Research Capital LLC TRC grew its stake in Medtronic by 69.3% during the 3rd quarter. Tower Research Capital LLC TRC now owns 40,476 shares of the medical technology company’s stock worth $3,172,000 after buying an additional 16,574 shares during the last quarter. Ropes Wealth Advisors LLC increased its position in Medtronic by 21.4% during the third quarter. Ropes Wealth Advisors LLC now owns 7,205 shares of the medical technology company’s stock worth $565,000 after buying an additional 1,269 shares during the period. Finally, Exchange Traded Concepts LLC lifted its stake in Medtronic by 109,325.0% in the fourth quarter. Exchange Traded Concepts LLC now owns 91,917 shares of the medical technology company’s stock valued at $7,572,000 after buying an additional 91,833 shares during the last quarter. 82.06% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several analysts recently commented on the stock. Oppenheimer upped their price target on shares of Medtronic from $89.00 to $92.00 and gave the company a “market perform” rating in a research report on Wednesday, February 21st. Mizuho increased their price objective on Medtronic from $95.00 to $98.00 and gave the stock a “buy” rating in a research report on Wednesday, February 21st. Truist Financial boosted their target price on Medtronic from $87.00 to $90.00 and gave the company a “hold” rating in a report 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 report on Wednesday, February 21st. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat.com, Medtronic presently has an average rating of “Moderate Buy” and an average target price of $94.91.

Medtronic Price Performance

Shares of NYSE:MDT traded up $0.71 on Tuesday, reaching $81.28. 5,296,122 shares of the company were exchanged, compared to its average volume of 6,290,356. The company has a current ratio of 2.30, a quick ratio of 1.71 and a debt-to-equity ratio of 0.46. The company has a 50-day moving average of $83.84 and a 200-day moving average of $81.11. Medtronic plc has a 1-year low of $68.84 and a 1-year high of $92.02. The firm has a market cap of $107.93 billion, a price-to-earnings ratio of 25.75, a price-to-earnings-growth ratio of 2.72 and a beta of 0.76.

Medtronic (NYSE:MDT) last released its quarterly earnings data 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. The firm had revenue of $8.09 billion during the quarter, compared to the consensus estimate of $7.95 billion. Medtronic had a return on equity of 13.71% and a net margin of 13.00%. Medtronic’s quarterly revenue was up 4.7% on a year-over-year basis. During the same period last year, the business posted $1.30 EPS. Equities analysts forecast that Medtronic plc will post 5.2 earnings per share for the current fiscal year.

Medtronic Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, April 12th. Shareholders of record on Friday, March 22nd were issued a dividend of $0.69 per share. The ex-dividend date of this dividend was Thursday, March 21st. This represents a $2.76 annualized dividend and a yield of 3.40%. Medtronic’s dividend payout ratio (DPR) is currently 87.90%.

Insiders Place Their Bets

In related news, EVP Michael Marinaro sold 854 shares of the business’s stock in a transaction dated 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 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 filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, EVP Sean Salmon sold 30,695 shares of the stock in a transaction 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 completion of the sale, the executive vice president now directly owns 48,289 shares in the company, valued at approximately $4,110,842.57. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, EVP Michael Marinaro sold 854 shares of the business’s 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 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. 0.30% of the stock is currently owned by company 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.