2,827 Shares in Medtronic plc (NYSE:MDT) Purchased by Barlow Wealth Partners Inc.

Barlow Wealth Partners Inc. acquired a new position in shares of Medtronic plc (NYSE:MDT) during the 4th quarter, Holdings Channel reports. The firm acquired 2,827 shares of the medical technology company’s stock, valued at approximately $233,000.

A number of other institutional investors also recently made changes to their positions in the business. Mackenzie Financial Corp grew its holdings in Medtronic by 10.0% during the 3rd quarter. Mackenzie Financial Corp now owns 428,242 shares of the medical technology company’s stock worth $32,778,000 after acquiring an additional 38,788 shares in the last quarter. Brighton Jones LLC grew its stake in Medtronic by 6.2% in the third quarter. Brighton Jones LLC now owns 10,672 shares of the medical technology company’s stock worth $836,000 after purchasing an additional 626 shares in the last quarter. Calamos Wealth Management LLC increased its holdings in Medtronic by 15.7% in the third quarter. Calamos Wealth Management LLC now owns 14,007 shares of the medical technology company’s stock valued at $1,098,000 after buying an additional 1,896 shares during the last quarter. Cambridge Trust Co. raised its stake in Medtronic by 19.3% during the third quarter. Cambridge Trust Co. now owns 24,664 shares of the medical technology company’s stock valued at $1,933,000 after buying an additional 3,985 shares in the last quarter. Finally, Value Partners Investments Inc. lifted its holdings in Medtronic by 0.4% during the 3rd quarter. Value Partners Investments Inc. now owns 71,333 shares of the medical technology company’s stock worth $5,590,000 after buying an additional 261 shares during the last quarter. 82.06% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

MDT has been the topic of several research reports. Mizuho upped their price target on Medtronic from $95.00 to $98.00 and gave the company a “buy” rating in a research report on Wednesday, February 21st. Oppenheimer boosted their price objective 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. Truist Financial raised their target price on shares of Medtronic from $87.00 to $90.00 and gave the stock 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 target price 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 six have given a buy rating to the company. According to MarketBeat, Medtronic presently has an average rating of “Hold” and an average target price of $94.91.

Insider Buying and Selling

In other Medtronic 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 transaction of $2,613,065.35. Following the completion of 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 Sean Salmon sold 30,695 shares of the firm’s stock in a transaction dated Wednesday, February 21st. The stock was sold at an average price of $85.13, for a total transaction of $2,613,065.35. Following the completion of 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 document filed with the Securities & Exchange Commission, which is available at this link. Also, 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 transaction, the executive vice president now directly owns 27,925 shares in the company, valued at $2,321,684.50. The disclosure for this sale can be found here. 0.30% of the stock is owned by corporate insiders.

Medtronic Stock Performance

Medtronic stock traded up $0.12 during mid-day trading on Tuesday, hitting $81.88. 4,939,706 shares of the company’s stock traded hands, compared to its average volume of 6,184,942. The company has a quick ratio of 1.71, a current ratio of 2.30 and a debt-to-equity ratio of 0.46. Medtronic plc has a one year low of $68.84 and a one year high of $91.00. The firm has a 50 day moving average price of $83.01 and a 200 day moving average price of $81.69. The company has a market cap of $108.72 billion, a PE ratio of 26.08, a price-to-earnings-growth ratio of 2.66 and a beta of 0.78.

Medtronic (NYSE:MDT) last posted its quarterly earnings data on Tuesday, February 20th. The medical technology company reported $1.30 earnings per share for the quarter, topping the consensus estimate of $1.26 by $0.04. The business had revenue of $8.09 billion during the quarter, compared to the consensus estimate of $7.95 billion. Medtronic had a net margin of 13.00% and a return on equity of 13.71%. The company’s quarterly revenue was up 4.7% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.30 earnings per share. On average, equities analysts forecast that Medtronic plc will post 5.2 EPS for the current year.

Medtronic Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, April 12th. Investors of record on Friday, March 22nd were paid a dividend of $0.69 per share. 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 3.37%. Medtronic’s dividend payout ratio is presently 87.90%.

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.