Bfsg LLC Makes New Investment in Medtronic plc (NYSE:MDT)

Bfsg LLC purchased a new position in shares of Medtronic plc (NYSE:MDT) during the 4th quarter, Holdings Channel.com reports. The fund purchased 828 shares of the medical technology company’s stock, valued at approximately $68,000.

Several other institutional investors and hedge funds have also recently made changes to their positions in MDT. Meridian Wealth Management LLC grew its holdings in shares of Medtronic by 17.6% in the third quarter. Meridian Wealth Management LLC now owns 4,021 shares of the medical technology company’s stock worth $315,000 after purchasing an additional 601 shares during the last quarter. Occidental Asset Management LLC bought a new stake in Medtronic in the third quarter valued at $478,000. SS&H Financial Advisors Inc. bought a new stake in Medtronic in the third quarter valued at $216,000. Financial & Tax Architects LLC boosted its holdings in Medtronic by 3.5% in the third quarter. Financial & Tax Architects LLC now owns 65,340 shares of the medical technology company’s stock valued at $5,120,000 after acquiring an additional 2,195 shares in the last quarter. Finally, Handelsbanken Fonder AB boosted its holdings in Medtronic by 107.2% in the third quarter. Handelsbanken Fonder AB now owns 969,630 shares of the medical technology company’s stock valued at $75,980,000 after acquiring an additional 501,569 shares in the last quarter. Institutional investors own 82.06% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on MDT shares. 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. 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 reiterated a “sector perform” rating and issued a $92.00 price target on shares of Medtronic in a report on Wednesday, February 21st. Finally, Oppenheimer boosted their target price 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 analyst has rated the stock with a sell rating, four have assigned a hold rating and six have issued a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $94.91.

Insiders Place Their Bets

In other Medtronic news, EVP Michael Marinaro sold 854 shares of the business’s 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 completion of the transaction, the executive vice president now owns 27,925 shares of the company’s stock, valued at approximately $2,321,684.50. The sale was disclosed in a legal filing with the SEC, which is available through this link. In other Medtronic news, EVP Michael Marinaro sold 854 shares of the business’s stock in a transaction dated Monday, April 8th. The stock was 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 directly owns 27,925 shares in the company, valued at approximately $2,321,684.50. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP Sean Salmon sold 30,695 shares of the business’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 sale, the executive vice president now owns 48,289 shares of the company’s stock, valued at $4,110,842.57. The disclosure for this sale can be found here. 0.30% of the stock is owned by insiders.

Medtronic Price Performance

MDT opened at $79.80 on Friday. The stock has a 50-day moving average price of $83.62 and a 200-day moving average price of $81.12. The company has a debt-to-equity ratio of 0.46, a current ratio of 2.30 and a quick ratio of 1.71. The firm has a market cap of $105.96 billion, a PE ratio of 25.24, a P/E/G ratio of 2.75 and a beta of 0.76. Medtronic plc has a 1 year low of $68.84 and a 1 year high of $92.02.

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

Medtronic Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, April 12th. Shareholders of record on Friday, March 22nd were given a $0.69 dividend. This represents a $2.76 dividend on an annualized basis and a yield of 3.46%. The ex-dividend date was Thursday, March 21st. Medtronic’s dividend payout ratio (DPR) is 87.90%.

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.