Atria Wealth Solutions Inc. Buys 4,672 Shares of Medtronic plc (NYSE:MDT)

Atria Wealth Solutions Inc. boosted its stake in shares of Medtronic plc (NYSE:MDT) by 5.7% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 87,349 shares of the medical technology company’s stock after acquiring an additional 4,672 shares during the period. Atria Wealth Solutions Inc.’s holdings in Medtronic were worth $7,238,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Meridian Wealth Management LLC increased its holdings in Medtronic by 17.6% in the 3rd quarter. Meridian Wealth Management LLC now owns 4,021 shares of the medical technology company’s stock valued at $315,000 after buying an additional 601 shares during the period. Occidental Asset Management LLC bought a new position in Medtronic in the 3rd quarter valued at about $478,000. SS&H Financial Advisors Inc. bought a new position in Medtronic in the 3rd quarter valued at about $216,000. Financial & Tax Architects LLC increased its holdings in Medtronic by 3.5% in the 3rd quarter. Financial & Tax Architects LLC now owns 65,340 shares of the medical technology company’s stock valued at $5,120,000 after buying an additional 2,195 shares during the period. Finally, Handelsbanken Fonder AB grew its holdings in shares of Medtronic by 107.2% during the 3rd quarter. Handelsbanken Fonder AB now owns 969,630 shares of the medical technology company’s stock valued at $75,980,000 after purchasing an additional 501,569 shares during the last quarter. 82.06% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on MDT shares. Mizuho lifted their price target on shares of Medtronic from $95.00 to $98.00 and gave the company a “buy” rating in a report on Wednesday, February 21st. 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. Truist Financial lifted their price target on shares of Medtronic from $87.00 to $90.00 and gave the company a “hold” rating in a report on Wednesday, February 21st. Finally, Oppenheimer lifted their price target on shares of Medtronic from $89.00 to $92.00 and gave the company a “market perform” rating in a report on Wednesday, February 21st. One investment 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 data from MarketBeat.com, Medtronic presently has a consensus rating of “Hold” and a consensus target price of $94.91.

Medtronic Trading Down 0.2 %

NYSE:MDT traded down $0.18 during mid-day trading on Friday, hitting $79.07. 227,652 shares of the company’s stock were exchanged, compared to its average volume of 6,191,018. The company has a 50 day simple moving average of $83.62 and a 200-day simple moving average of $81.12. The company has a current ratio of 2.30, a quick ratio of 1.71 and a debt-to-equity ratio of 0.46. Medtronic plc has a fifty-two week low of $68.84 and a fifty-two week high of $92.02. The firm has a market capitalization of $104.99 billion, a P/E ratio of 25.41, a PEG ratio of 2.75 and a beta of 0.76.

Medtronic (NYSE:MDT) last issued its quarterly earnings results on Tuesday, February 20th. The medical technology company reported $1.30 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.26 by $0.04. The firm had revenue of $8.09 billion for 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 revenue for the quarter was up 4.7% on a year-over-year basis. During the same quarter in the previous year, the company earned $1.30 EPS. As a group, research analysts expect that Medtronic plc will post 5.2 earnings per share for the current year.

Medtronic Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, April 12th. Stockholders of record on Friday, March 22nd were given a $0.69 dividend. The ex-dividend date was Thursday, March 21st. This represents a $2.76 dividend on an annualized basis and a dividend yield of 3.49%. Medtronic’s dividend payout ratio (DPR) is currently 87.90%.

Insider Transactions at Medtronic

In other news, EVP Sean Salmon sold 30,695 shares of the business’s stock in a transaction that occurred on 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 transaction, the executive vice president now owns 48,289 shares in the company, valued at approximately $4,110,842.57. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, EVP Sean Salmon sold 30,695 shares of Medtronic stock in a transaction on 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 owns 48,289 shares in the company, valued at approximately $4,110,842.57. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Michael Marinaro sold 854 shares of Medtronic stock in a transaction on Monday, April 8th. The shares were sold at an average price of $83.14, for a total transaction of $71,001.56. Following the completion of the sale, the executive vice president now owns 27,925 shares of the company’s stock, valued at approximately $2,321,684.50. The disclosure for this sale can be found here. Corporate insiders own 0.30% of the company’s stock.

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.