931 Shares in Medtronic plc (NYSE:MDT) Bought by EdgeRock Capital LLC

EdgeRock Capital LLC acquired a new position in shares of Medtronic plc (NYSE:MDT) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 931 shares of the medical technology company’s stock, valued at approximately $82,000.

Several other large investors have also modified their holdings of the company. Loudon Investment Management LLC grew its holdings in shares of Medtronic by 9.5% in the 4th quarter. Loudon Investment Management LLC now owns 10,026 shares of the medical technology company’s stock worth $786,000 after purchasing an additional 874 shares during the last quarter. BKM Wealth Management LLC bought a new stake in shares of Medtronic in the 4th quarter worth about $941,000. International Assets Investment Management LLC grew its holdings in shares of Medtronic by 8,340.3% in 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 purchasing an additional 1,026,274 shares during the last quarter. Tower Research Capital LLC TRC grew its holdings in shares of Medtronic by 69.3% in the 3rd quarter. Tower Research Capital LLC TRC now owns 40,476 shares of the medical technology company’s stock worth $3,172,000 after purchasing an additional 16,574 shares during the last quarter. Finally, Exchange Traded Concepts LLC grew its holdings in shares of Medtronic by 109,325.0% in the 4th quarter. Exchange Traded Concepts LLC now owns 91,917 shares of the medical technology company’s stock worth $7,572,000 after purchasing an additional 91,833 shares during the last quarter. 82.06% of the stock is owned by institutional investors.

Medtronic Trading Up 0.1 %

Medtronic stock traded up $0.12 during midday trading on Tuesday, hitting $81.88. 4,939,706 shares of the stock were exchanged, compared to its average volume of 6,184,942. The company has a fifty day simple moving average of $83.01 and a two-hundred day simple moving average of $81.69. Medtronic plc has a 52 week low of $68.84 and a 52 week high of $91.00. The stock has a market capitalization of $108.72 billion, a PE ratio of 26.08, a P/E/G ratio of 2.66 and a beta of 0.78. The company has a quick ratio of 1.71, a current ratio of 2.30 and a debt-to-equity ratio of 0.46.

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, topping the consensus estimate of $1.26 by $0.04. Medtronic had a net margin of 13.00% and a return on equity of 13.71%. The business had revenue of $8.09 billion for the quarter, compared to analyst estimates of $7.95 billion. During the same quarter last year, the firm earned $1.30 EPS. Medtronic’s quarterly revenue was up 4.7% compared to the same quarter last year. Equities research analysts anticipate that Medtronic plc will post 5.2 EPS for the current fiscal year.

Medtronic Announces Dividend

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

Wall Street Analyst Weigh In

MDT has been the topic of a number of research analyst reports. Truist Financial increased their price objective on shares of Medtronic from $87.00 to $90.00 and gave the stock a “hold” rating in a report on Wednesday, February 21st. Oppenheimer increased 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. Royal Bank of Canada reissued a “sector perform” rating and set a $92.00 price objective on shares of Medtronic in a report on Wednesday, February 21st. Finally, Mizuho increased 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 issued a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat, Medtronic currently has an average rating of “Hold” and a consensus price target of $94.91.

Insider Buying and Selling

In other Medtronic news, EVP Michael Marinaro sold 854 shares of Medtronic stock in a transaction that occurred on 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 owns 27,925 shares of the company’s stock, valued at $2,321,684.50. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In other Medtronic news, EVP Sean Salmon sold 30,695 shares of Medtronic 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 of the company’s stock, valued at $4,110,842.57. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Michael Marinaro sold 854 shares of Medtronic stock in a transaction that occurred 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 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. 0.30% of the stock is owned by insiders.

Medtronic Company 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.