Advantage Trust Co Buys Shares of 600 Medtronic plc (NYSE:MDT)

Advantage Trust Co purchased a new position in Medtronic plc (NYSE:MDT) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 600 shares of the medical technology company’s stock, valued at approximately $49,000.

Several other large investors also recently modified their holdings of the company. Loudon Investment Management LLC grew its stake in shares of Medtronic by 9.5% during the 4th quarter. Loudon Investment Management LLC now owns 10,026 shares of the medical technology company’s stock valued at $786,000 after acquiring an additional 874 shares during the period. BKM Wealth Management LLC purchased a new stake in Medtronic during the 4th quarter valued at approximately $941,000. International Assets Investment Management LLC raised its position in shares of Medtronic by 8,340.3% during the fourth quarter. International Assets Investment Management LLC now owns 1,038,579 shares of the medical technology company’s stock valued at $85,558,000 after buying an additional 1,026,274 shares during the last quarter. Tower Research Capital LLC TRC boosted its position in shares of Medtronic by 69.3% during the third quarter. Tower Research Capital LLC TRC now owns 40,476 shares of the medical technology company’s stock worth $3,172,000 after acquiring an additional 16,574 shares during the last quarter. Finally, Apollon Wealth Management LLC grew its stake in Medtronic by 43.0% during the fourth quarter. Apollon Wealth Management LLC now owns 50,804 shares of the medical technology company’s stock valued at $4,185,000 after acquiring an additional 15,265 shares in the last quarter. Institutional investors own 82.06% of the company’s stock.

Insiders Place Their Bets

In related news, EVP Michael Marinaro sold 854 shares of the 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 in the company, valued at approximately $2,321,684.50. The sale was disclosed in a filing with the SEC, which is available through this link. In other Medtronic news, EVP Sean Salmon sold 30,695 shares of the stock in a transaction that occurred 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 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 Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Michael Marinaro sold 854 shares of the company’s stock in a transaction dated Monday, April 8th. The shares were sold at an average price of $83.14, for a total transaction of $71,001.56. Following the sale, the executive vice president now directly owns 27,925 shares of the company’s stock, valued at approximately $2,321,684.50. The disclosure for this sale can be found here. 0.30% of the stock is currently owned by insiders.

Medtronic Stock Up 1.5 %

MDT stock traded up $1.21 on Thursday, hitting $82.76. 5,545,134 shares of the company’s stock were exchanged, compared to its average volume of 6,155,512. The firm has a 50 day moving average price of $82.97 and a two-hundred day moving average price of $81.69. Medtronic plc has a 12-month low of $68.84 and a 12-month high of $91.00. The stock has a market cap of $109.89 billion, a P/E ratio of 26.36, a price-to-earnings-growth ratio of 2.66 and a beta of 0.78. 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 issued its quarterly earnings results on Tuesday, February 20th. The medical technology company reported $1.30 earnings per share for the quarter, topping analysts’ consensus estimates of $1.26 by $0.04. The business had revenue of $8.09 billion for 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 company’s revenue was up 4.7% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.30 earnings per share. As a group, equities research analysts expect that Medtronic plc will post 5.2 EPS for the current fiscal year.

Medtronic Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, April 12th. Shareholders of record on Friday, March 22nd were given a dividend of $0.69 per share. The ex-dividend date of this dividend was Thursday, March 21st. This represents a $2.76 dividend on an annualized basis and a yield of 3.33%. Medtronic’s dividend payout ratio is currently 87.90%.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on the company. Truist Financial lifted their target price on Medtronic from $87.00 to $90.00 and gave the stock a “hold” rating in a report on Wednesday, February 21st. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $92.00 price objective on shares of Medtronic in a report on Wednesday, February 21st. Oppenheimer raised 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. Finally, Mizuho upped their price target on shares of Medtronic from $95.00 to $98.00 and gave the company a “buy” rating in a research note on Wednesday, February 21st. One 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. According to MarketBeat, the company presently has a consensus 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.