Everpar Advisors LLC Makes New $545,000 Investment in Medtronic plc (NYSE:MDT)

Everpar Advisors LLC acquired a new stake in shares of Medtronic plc (NYSE:MDT) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 6,618 shares of the medical technology company’s stock, valued at approximately $545,000.

Several other hedge funds and other institutional investors also recently made changes to their positions in the business. Pzena Investment Management LLC lifted its holdings in shares of Medtronic by 112.8% in the third quarter. Pzena Investment Management LLC now owns 5,730,577 shares of the medical technology company’s stock valued at $449,048,000 after purchasing an additional 3,037,394 shares in the last quarter. Morgan Stanley lifted its position in shares of Medtronic by 9.2% during the third quarter. Morgan Stanley now owns 23,777,808 shares of the medical technology company’s stock valued at $1,863,229,000 after purchasing an additional 1,994,123 shares in the last quarter. Envestnet Asset Management Inc. boosted its holdings in Medtronic by 30.1% during the third quarter. Envestnet Asset Management Inc. now owns 5,181,266 shares of the medical technology company’s stock worth $406,004,000 after purchasing an additional 1,199,639 shares during the last quarter. Caisse DE Depot ET Placement DU Quebec grew its position in Medtronic by 78.4% in the 3rd quarter. Caisse DE Depot ET Placement DU Quebec now owns 2,356,359 shares of the medical technology company’s stock worth $184,644,000 after purchasing an additional 1,035,747 shares in the last quarter. Finally, International Assets Investment Management LLC lifted its position in shares of Medtronic by 8,340.3% during the 4th quarter. International Assets Investment Management LLC now owns 1,038,579 shares of the medical technology company’s stock worth $85,558,000 after buying an additional 1,026,274 shares in the last quarter. 82.06% of the stock is owned by institutional investors.

Insider Activity

In related news, EVP Michael Marinaro sold 854 shares of Medtronic stock in a transaction on 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 owns 27,925 shares of the company’s stock, valued at $2,321,684.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other news, EVP Michael Marinaro sold 854 shares of Medtronic 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 owns 27,925 shares in the company, valued at approximately $2,321,684.50. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, EVP Sean Salmon sold 30,695 shares of the business’s stock in a transaction dated 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 transaction, the executive vice president now directly owns 48,289 shares of the company’s stock, valued at approximately $4,110,842.57. The disclosure for this sale can be found here. Company insiders own 0.30% of the company’s stock.

Medtronic Stock Performance

Shares of NYSE:MDT traded up $0.12 during trading on Tuesday, hitting $81.88. 4,939,706 shares of the company were exchanged, compared to its average volume of 6,184,942. Medtronic plc has a 52-week low of $68.84 and a 52-week high of $91.00. The stock has a 50 day moving average of $83.01 and a 200 day moving average of $81.69. 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 cap of $108.72 billion, a PE ratio of 26.08, a P/E/G ratio of 2.66 and a beta of 0.78.

Medtronic (NYSE:MDT) last issued its quarterly earnings data 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. Medtronic had a return on equity of 13.71% and a net margin of 13.00%. The business had revenue of $8.09 billion for the quarter, compared to analysts’ expectations of $7.95 billion. During the same quarter in the prior year, the firm posted $1.30 EPS. The firm’s quarterly revenue was up 4.7% on a year-over-year basis. As a group, equities research analysts predict that Medtronic plc will post 5.2 EPS for the current year.

Medtronic Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, April 12th. Shareholders of record on Friday, March 22nd were issued a $0.69 dividend. This represents a $2.76 annualized dividend and a yield of 3.37%. The ex-dividend date was Thursday, March 21st. Medtronic’s payout ratio is 87.90%.

Analyst Ratings Changes

Several equities analysts have recently issued reports on the company. Mizuho upped their target price on 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 target price on shares of Medtronic in a research report on Wednesday, February 21st. Truist Financial boosted their price target on shares of Medtronic from $87.00 to $90.00 and gave the stock a “hold” rating in a report on Wednesday, February 21st. Finally, Oppenheimer raised their price objective on shares of Medtronic from $89.00 to $92.00 and gave the stock a “market perform” rating in a report on Wednesday, February 21st. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Medtronic currently has an average rating of “Hold” and a consensus target price 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.