Medtronic plc (NYSE:MDT) Shares Bought by Evergreen Wealth Management LLC

Evergreen Wealth Management LLC boosted its holdings in Medtronic plc (NYSE:MDT) by 2.7% during the 4th quarter, according to its most recent disclosure with the SEC. The firm owned 19,165 shares of the medical technology company’s stock after buying an additional 510 shares during the period. Evergreen Wealth Management LLC’s holdings in Medtronic were worth $1,579,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Fortitude Family Office LLC acquired a new stake in Medtronic in the fourth quarter worth approximately $25,000. Leith Wheeler Investment Counsel Ltd. raised its stake in shares of Medtronic by 293.0% in 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 acquiring an additional 236,064 shares in the last quarter. Financial Gravity Asset Management Inc. boosted its holdings in shares of Medtronic by 317.0% during the 3rd quarter. Financial Gravity Asset Management Inc. now owns 367 shares of the medical technology company’s stock worth $29,000 after buying an additional 279 shares during the period. Princeton Global Asset Management LLC acquired a new position in shares of Medtronic during the 3rd quarter worth about $31,000. Finally, Hartford Financial Management Inc. increased its stake in Medtronic by 52.1% during the fourth quarter. Hartford Financial Management Inc. now owns 479 shares of the medical technology company’s stock valued at $39,000 after acquiring an additional 164 shares during the period. 82.06% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Medtronic

In other Medtronic news, 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 directly owns 48,289 shares in the company, valued at $4,110,842.57. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In other news, EVP Sean Salmon sold 30,695 shares of the stock in a transaction dated 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 directly owns 48,289 shares in the company, valued at $4,110,842.57. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP Michael Marinaro sold 854 shares of the company’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 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. Insiders own 0.30% of the company’s stock.

Medtronic Trading Up 1.0 %

Shares of NYSE:MDT traded up $0.77 during midday trading on Friday, hitting $81.69. 4,987,236 shares of the stock were exchanged, compared to its average volume of 6,078,836. The stock has a market capitalization of $108.47 billion, a price-to-earnings ratio of 26.02, a P/E/G ratio of 2.66 and a beta of 0.78. The business’s 50-day moving average price is $83.08 and its 200 day moving average price is $81.56. The company has a debt-to-equity ratio of 0.46, a quick ratio of 1.71 and a current ratio of 2.30. Medtronic plc has a 12 month low of $68.84 and a 12 month high of $91.00.

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 company had revenue of $8.09 billion during the quarter, compared to analyst estimates of $7.95 billion. Medtronic had a net margin of 13.00% and a return on equity of 13.71%. Medtronic’s revenue for the quarter was up 4.7% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.30 EPS. Analysts predict that Medtronic plc will post 5.2 earnings per share for the current year.

Medtronic Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, April 12th. Investors of record on Friday, March 22nd were issued a $0.69 dividend. This represents a $2.76 annualized dividend and a yield of 3.38%. The ex-dividend date was Thursday, March 21st. Medtronic’s dividend payout ratio (DPR) is currently 87.90%.

Analyst Ratings Changes

Several brokerages recently issued reports on MDT. Royal Bank of Canada reissued a “sector perform” rating and set a $92.00 price target on shares of Medtronic in a report on Wednesday, February 21st. Oppenheimer upped their target price 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 lifted their target price on shares of Medtronic from $95.00 to $98.00 and gave the stock a “buy” rating in a report on Wednesday, February 21st. Finally, Truist Financial lifted their price target 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. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and six have given a buy rating to the company. According to MarketBeat, Medtronic currently has an average rating of “Hold” and a consensus target price of $94.91.

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.