Medtronic plc (NYSE:MDT) Shares Acquired by Vance Wealth Inc.

Vance Wealth Inc. raised its position in shares of Medtronic plc (NYSE:MDT) by 34.2% in the fourth quarter, according to its most recent filing with the SEC. The firm owned 76,418 shares of the medical technology company’s stock after purchasing an additional 19,473 shares during the quarter. Medtronic makes up approximately 2.7% of Vance Wealth Inc.’s investment portfolio, making the stock its 7th largest holding. Vance Wealth Inc.’s holdings in Medtronic were worth $6,295,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the company. Stonebrook Private Inc. acquired a new stake in Medtronic during the 4th quarter valued at approximately $1,916,000. PGGM Investments grew its position in shares of Medtronic by 9.4% during the 4th quarter. PGGM Investments now owns 1,104,318 shares of the medical technology company’s stock worth $90,974,000 after buying an additional 94,617 shares during the period. C WorldWide Group Holding A S acquired a new stake in shares of Medtronic during the 4th quarter worth approximately $23,890,000. Transcend Capital Advisors LLC grew its position in shares of Medtronic by 5.7% during the 4th quarter. Transcend Capital Advisors LLC now owns 61,570 shares of the medical technology company’s stock worth $5,072,000 after buying an additional 3,304 shares during the period. Finally, Opinicus Capital Inc. acquired a new stake in shares of Medtronic during the 4th quarter worth approximately $306,000. Institutional investors and hedge funds own 82.06% of the company’s stock.

Insider Buying and Selling at Medtronic

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

Analyst Ratings Changes

Several brokerages have recently commented on MDT. Oppenheimer raised their price objective on shares of Medtronic from $89.00 to $92.00 and gave the stock a “market perform” rating in a research report on Wednesday, February 21st. Truist Financial raised their price objective on shares of Medtronic from $87.00 to $90.00 and gave the stock a “hold” rating in a research report on Wednesday, February 21st. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $92.00 price objective on shares of Medtronic in a research report on Wednesday, February 21st. Finally, Mizuho increased their target price on Medtronic from $95.00 to $98.00 and gave the stock a “buy” rating in a report on Wednesday, February 21st. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and six have issued a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $94.91.

Medtronic Stock Up 0.6 %

NYSE:MDT traded up $0.49 during trading hours on Friday, hitting $79.74. 5,024,880 shares of the company traded hands, compared to its average volume of 5,781,218. The company has a quick ratio of 1.71, a current ratio of 2.30 and a debt-to-equity ratio of 0.46. The firm’s 50-day simple moving average is $83.53 and its 200-day simple moving average is $81.19. Medtronic plc has a one year low of $68.84 and a one year high of $92.02. The company has a market cap of $105.88 billion, a PE ratio of 25.39, a PEG ratio of 2.73 and a beta of 0.76.

Medtronic (NYSE:MDT) last issued 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. Medtronic had a return on equity of 13.71% and a net margin of 13.00%. The business 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. The business’s revenue was up 4.7% on a year-over-year basis. Equities analysts predict that Medtronic plc will post 5.2 earnings per share for the current year.

Medtronic Announces Dividend

The business also recently disclosed 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. This represents a $2.76 annualized dividend and a yield of 3.46%. The ex-dividend date of this dividend was Thursday, March 21st. Medtronic’s dividend payout ratio (DPR) is presently 87.90%.

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.