Unique Wealth Strategies LLC Acquires New Shares in Medtronic plc (NYSE:MDT)

Unique Wealth Strategies LLC bought a new position in shares of Medtronic plc (NYSE:MDT) during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 11,707 shares of the medical technology company’s stock, valued at approximately $964,000.

Other institutional investors also recently bought and sold shares of the company. Consolidated Planning Corp boosted its position in Medtronic by 3.6% during the fourth quarter. Consolidated Planning Corp now owns 48,673 shares of the medical technology company’s stock worth $4,010,000 after purchasing an additional 1,706 shares during the period. Alliance Wealth Advisors LLC UT lifted its stake in shares of Medtronic by 2.4% in the fourth quarter. Alliance Wealth Advisors LLC UT now owns 45,695 shares of the medical technology company’s stock worth $3,764,000 after buying an additional 1,068 shares during the last quarter. Russell Investments Group Ltd. boosted its holdings in shares of Medtronic by 8.8% during the 4th quarter. Russell Investments Group Ltd. now owns 2,172,410 shares of the medical technology company’s stock worth $179,108,000 after buying an additional 175,788 shares during the period. Alexander Randolph Advisory Inc. acquired a new position in Medtronic in the 4th quarter valued at $1,116,000. Finally, Private Wealth Partners LLC acquired a new position in Medtronic during the 4th quarter worth $236,000. 82.06% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Medtronic

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

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on the company. Truist Financial raised their price target on Medtronic from $87.00 to $90.00 and gave the company a “hold” rating in a research report on Wednesday, February 21st. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $92.00 target price on shares of Medtronic in a report on Wednesday, February 21st. Oppenheimer upped their price target on Medtronic from $89.00 to $92.00 and gave the stock a “market perform” rating in a report on Wednesday, February 21st. Finally, Mizuho raised their price objective on shares of Medtronic from $95.00 to $98.00 and gave the stock a “buy” rating in a research note on Wednesday, February 21st. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat.com, Medtronic currently has an average rating of “Hold” and a consensus target price of $94.91.

Medtronic Price Performance

Shares of NYSE:MDT traded up $0.49 during midday trading on Friday, reaching $79.74. 5,024,880 shares of the company’s stock were exchanged, compared to its average volume of 5,781,218. The firm has a market capitalization of $105.88 billion, a PE ratio of 25.39, a price-to-earnings-growth ratio of 2.71 and a beta of 0.76. The company’s 50 day simple moving average is $83.53 and its two-hundred day simple moving average is $81.16. Medtronic plc has a 12 month low of $68.84 and a 12 month high of $92.02. The company has a debt-to-equity ratio of 0.46, a quick ratio of 1.71 and a current ratio of 2.30.

Medtronic (NYSE:MDT) last released its quarterly earnings data on Tuesday, February 20th. The medical technology company reported $1.30 earnings per share for the quarter, beating 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 company had revenue of $8.09 billion for the quarter, compared to the consensus estimate of $7.95 billion. During the same period in the previous year, the business earned $1.30 earnings per share. The company’s quarterly revenue was up 4.7% on a year-over-year basis. Equities research analysts expect that Medtronic plc will post 5.2 earnings per share for the current fiscal year.

Medtronic Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, April 12th. Shareholders of record on Friday, March 22nd were paid a dividend of $0.69 per share. The ex-dividend date was Thursday, March 21st. This represents a $2.76 annualized dividend and a yield of 3.46%. Medtronic’s dividend payout ratio is currently 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.