Medtronic plc (NYSE:MDT) Stock Holdings Reduced by Larson Financial Group LLC

Larson Financial Group LLC lessened its stake in shares of Medtronic plc (NYSE:MDT) by 13.0% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 18,240 shares of the medical technology company’s stock after selling 2,716 shares during the quarter. Larson Financial Group LLC’s holdings in Medtronic were worth $1,503,000 as of its most recent filing with the SEC.

Other large investors also recently made changes to their positions in the company. Fortitude Family Office LLC acquired a new position in shares of Medtronic during the 4th quarter worth about $25,000. Hartford Financial Management Inc. grew its position in Medtronic by 425.0% during the 3rd quarter. Hartford Financial Management Inc. now owns 315 shares of the medical technology company’s stock worth $25,000 after acquiring an additional 255 shares during the last quarter. Financial Gravity Asset Management Inc. grew its position in Medtronic by 317.0% during the 3rd quarter. Financial Gravity Asset Management Inc. now owns 367 shares of the medical technology company’s stock worth $29,000 after acquiring an additional 279 shares during the last quarter. Princeton Global Asset Management LLC bought a new position in Medtronic in the 3rd quarter valued at $31,000. Finally, SJS Investment Consulting Inc. boosted its position in Medtronic by 96.4% in the 3rd quarter. SJS Investment Consulting Inc. now owns 485 shares of the medical technology company’s stock valued at $38,000 after buying an additional 238 shares during the last quarter. Institutional investors own 82.06% of the company’s stock.

Medtronic Stock Up 0.3 %

Shares of NYSE MDT traded up $0.25 during mid-day trading on Tuesday, hitting $80.82. The company had a trading volume of 1,789,105 shares, compared to its average volume of 6,243,890. The company has a market capitalization of $107.31 billion, a PE ratio of 25.75, a price-to-earnings-growth ratio of 2.72 and a beta of 0.76. The firm has a 50-day simple moving average of $83.84 and a two-hundred day simple moving average of $81.11. The company has a current ratio of 2.30, a quick ratio of 1.71 and a debt-to-equity ratio of 0.46. Medtronic plc has a one year low of $68.84 and a one year high of $92.02.

Medtronic (NYSE:MDT) last posted its quarterly earnings results on Tuesday, February 20th. The medical technology company reported $1.30 EPS for the quarter, topping analysts’ consensus estimates of $1.26 by $0.04. The business had revenue of $8.09 billion during the quarter, compared to analysts’ expectations of $7.95 billion. Medtronic had a return on equity of 13.71% and a net margin of 13.00%. Medtronic’s quarterly revenue was up 4.7% on a year-over-year basis. During the same quarter last year, the company posted $1.30 earnings per share. On average, equities analysts expect that Medtronic plc will post 5.2 EPS for the current 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 given 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 3.41%. Medtronic’s dividend payout ratio (DPR) is presently 87.90%.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on the company. Oppenheimer increased their price target on Medtronic from $89.00 to $92.00 and gave the company a “market perform” rating in a research note on Wednesday, February 21st. Truist Financial lifted their price target on Medtronic from $87.00 to $90.00 and gave the company a “hold” rating in a research note on Wednesday, February 21st. Royal Bank of Canada reissued a “sector perform” rating and issued a $92.00 price target on shares of Medtronic in a research note on Wednesday, February 21st. Finally, Mizuho lifted their price target on 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 issued a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $94.91.

Insiders Place Their Bets

In other 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 completion of the sale, 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 can be accessed through this link. In other Medtronic news, EVP Michael Marinaro sold 854 shares of the business’s 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 $2,321,684.50. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP Sean Salmon sold 30,695 shares of the business’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 sale, the executive vice president now directly owns 48,289 shares in the company, 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 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.