2,567 Shares in Medtronic plc (NYSE:MDT) Acquired by Austin Private Wealth LLC

Austin Private Wealth LLC purchased a new stake in shares of Medtronic plc (NYSE:MDT) during the fourth quarter, HoldingsChannel reports. The institutional investor purchased 2,567 shares of the medical technology company’s stock, valued at approximately $211,000.

Other institutional investors also recently bought and sold shares of the company. Fortitude Family Office LLC acquired a new position in shares of Medtronic during the 4th quarter valued at $25,000. Hartford Financial Management Inc. raised its position in Medtronic by 425.0% in the third quarter. Hartford Financial Management Inc. now owns 315 shares of the medical technology company’s stock valued at $25,000 after purchasing an additional 255 shares during the period. Financial Gravity Asset Management Inc. lifted its stake in shares of Medtronic by 317.0% during the third quarter. Financial Gravity Asset Management Inc. now owns 367 shares of the medical technology company’s stock worth $29,000 after purchasing an additional 279 shares in the last quarter. Fairfield Bush & CO. purchased a new stake in shares of Medtronic in the second quarter worth about $32,000. Finally, Certified Advisory Corp acquired a new stake in shares of Medtronic in the first quarter valued at about $31,000. 82.06% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other Medtronic news, EVP Sean Salmon sold 30,695 shares of Medtronic stock in a transaction that occurred on Wednesday, February 21st. The stock was sold at an average price of $85.13, for a total value of $2,613,065.35. Following the completion of the transaction, 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 legal filing with the SEC, which is accessible through this hyperlink. Company insiders own 0.30% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts recently commented on the company. Truist Financial boosted their price target on Medtronic from $87.00 to $90.00 and gave the stock a “hold” rating in a research report on Wednesday, February 21st. Royal Bank of Canada restated a “sector perform” rating and issued a $92.00 target price on shares of Medtronic in a research note on Wednesday, February 21st. Oppenheimer lifted their price target on shares of Medtronic from $89.00 to $92.00 and gave the stock a “market perform” rating in a research note on Wednesday, February 21st. Finally, Mizuho boosted their price objective on shares of Medtronic from $95.00 to $98.00 and gave the stock a “buy” rating 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 seven have issued a buy rating to the company. According to MarketBeat, Medtronic presently has a consensus rating of “Moderate Buy” and an average price target of $94.91.

Medtronic Stock Up 0.2 %

NYSE:MDT traded up $0.21 during mid-day trading on Thursday, reaching $87.13. The stock had a trading volume of 7,578,551 shares, compared to its average volume of 6,322,563. 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 company has a market capitalization of $115.69 billion, a price-to-earnings ratio of 27.82, a price-to-earnings-growth ratio of 2.86 and a beta of 0.76. Medtronic plc has a 1-year low of $68.84 and a 1-year high of $92.02. The stock’s 50 day simple moving average is $85.23 and its two-hundred day simple moving average is $80.73.

Medtronic (NYSE:MDT) last issued its earnings results on Tuesday, February 20th. The medical technology company reported $1.30 EPS for the quarter, topping 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 return on equity of 13.71% and a net margin of 13.00%. The business’s revenue was up 4.7% on a year-over-year basis. During the same quarter last year, the firm earned $1.30 EPS. Equities analysts anticipate that Medtronic plc will post 5.2 EPS for the current year.

Medtronic Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, April 12th. Stockholders of record on Friday, March 22nd will be given a $0.69 dividend. The ex-dividend date is Thursday, March 21st. This represents a $2.76 dividend on an annualized basis and a dividend yield of 3.17%. Medtronic’s payout ratio is currently 87.90%.

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.