Breed s Hill Capital LLC Invests $263,000 in Medtronic plc (NYSE:MDT)

Breed s Hill Capital LLC acquired a new stake in Medtronic plc (NYSE:MDT) in the 4th quarter, according to the company in its most recent filing with the SEC. The fund acquired 3,190 shares of the medical technology company’s stock, valued at approximately $263,000.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Wealthspire Advisors LLC increased its holdings in shares of Medtronic by 15.6% in the fourth quarter. Wealthspire Advisors LLC now owns 11,050 shares of the medical technology company’s stock valued at $910,000 after purchasing an additional 1,492 shares in the last quarter. E Fund Management Co. Ltd. raised its position in shares of Medtronic by 13.6% during the fourth quarter. E Fund Management Co. Ltd. now owns 3,617 shares of the medical technology company’s stock worth $298,000 after acquiring an additional 434 shares during the last quarter. Blume Capital Management Inc. raised its holdings in Medtronic by 101.8% during the 4th quarter. Blume Capital Management Inc. now owns 17,840 shares of the medical technology company’s stock worth $1,470,000 after purchasing an additional 9,000 shares during the last quarter. Valtinson Bruner Financial Planning LLC lifted its position in Medtronic by 13.9% during the 4th quarter. Valtinson Bruner Financial Planning LLC now owns 26,224 shares of the medical technology company’s stock valued at $2,160,000 after purchasing an additional 3,210 shares during the period. Finally, Evexia Wealth LLC boosted its stake in shares of Medtronic by 1.7% in the 4th quarter. Evexia Wealth LLC now owns 27,438 shares of the medical technology company’s stock valued at $2,404,000 after purchasing an additional 458 shares during the last quarter. Institutional investors and hedge funds own 82.06% of the company’s stock.

Medtronic Stock Up 1.5 %

Shares of Medtronic stock traded up $1.21 during trading on Thursday, reaching $82.76. The stock had a trading volume of 5,545,134 shares, 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. The company has a market capitalization of $109.89 billion, a price-to-earnings ratio of 26.36, a P/E/G ratio of 2.66 and a beta of 0.78. Medtronic plc has a 52 week low of $68.84 and a 52 week high of $91.00. The stock has a fifty day moving average price of $82.97 and a two-hundred day moving average price of $81.69.

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

Medtronic Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, April 12th. Stockholders of record on Friday, March 22nd were issued a $0.69 dividend. This represents a $2.76 annualized dividend and a dividend yield of 3.33%. The ex-dividend date of this dividend was Thursday, March 21st. Medtronic’s payout ratio is 87.90%.

Insider Activity at Medtronic

In other Medtronic news, EVP Michael Marinaro sold 854 shares of the firm’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 completion of the transaction, the executive vice president now directly owns 27,925 shares in the company, valued at $2,321,684.50. The transaction was disclosed in a filing with the SEC, which can be accessed 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 shares were 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 document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Michael Marinaro sold 854 shares of the business’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 directly 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 owned by company insiders.

Analyst Ratings Changes

MDT has been the topic of several analyst reports. Mizuho increased their price objective on shares of Medtronic from $95.00 to $98.00 and gave the company a “buy” rating in a report on Wednesday, February 21st. Truist Financial lifted their price objective on Medtronic from $87.00 to $90.00 and gave the stock a “hold” rating in a research note on Wednesday, February 21st. Royal Bank of Canada reissued a “sector perform” rating and issued a $92.00 target price on shares of Medtronic in a research note on Wednesday, February 21st. Finally, Oppenheimer upped their price target on Medtronic from $89.00 to $92.00 and gave the company a “market perform” rating in a research note 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 company’s stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $94.91.

Medtronic 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.