6,852 Shares in Medtronic plc (NYSE:MDT) Purchased by Syon Capital LLC

Syon Capital LLC bought a new position in shares of Medtronic plc (NYSE:MDT) in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 6,852 shares of the medical technology company’s stock, valued at approximately $564,000.

A number of other institutional investors have also made changes to their positions in MDT. Meridian Wealth Management LLC lifted its stake in Medtronic by 17.6% during the third quarter. Meridian Wealth Management LLC now owns 4,021 shares of the medical technology company’s stock worth $315,000 after purchasing an additional 601 shares in the last quarter. Patriot Financial Group Insurance Agency LLC lifted its stake in Medtronic by 15.7% during the 3rd quarter. Patriot Financial Group Insurance Agency LLC now owns 13,614 shares of the medical technology company’s stock worth $1,067,000 after acquiring an additional 1,850 shares in the last quarter. Apeiron RIA LLC grew its position in Medtronic by 10.3% in the 3rd quarter. Apeiron RIA LLC now owns 3,095 shares of the medical technology company’s stock valued at $243,000 after acquiring an additional 289 shares in the last quarter. Connecticut Wealth Management LLC increased its stake in Medtronic by 52.0% during the third quarter. Connecticut Wealth Management LLC now owns 3,813 shares of the medical technology company’s stock worth $299,000 after purchasing an additional 1,305 shares during the period. Finally, Oak Harbor Wealth Partners LLC lifted its position in shares of Medtronic by 10.6% during the third quarter. Oak Harbor Wealth Partners LLC now owns 22,816 shares of the medical technology company’s stock worth $1,788,000 after purchasing an additional 2,181 shares in the last quarter. 82.06% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Medtronic

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

Analysts Set New Price Targets

A number of research firms have issued reports on MDT. Royal Bank of Canada reiterated a “sector perform” rating and set a $92.00 target price on shares of Medtronic in a report on Wednesday, February 21st. Mizuho raised their target price on shares of Medtronic from $95.00 to $98.00 and gave the company a “buy” rating in a report on Wednesday, February 21st. Oppenheimer raised their price objective 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, Truist Financial lifted their price objective on shares of Medtronic from $87.00 to $90.00 and gave the stock a “hold” rating in a research report on Wednesday, February 21st. One analyst has rated the stock with a sell rating, four have assigned a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $94.91.

Medtronic Stock Up 0.6 %

Medtronic stock opened at $79.73 on Friday. The company has a market capitalization of $105.87 billion, a P/E ratio of 25.39, a PEG ratio of 2.71 and a beta of 0.76. 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 plc has a fifty-two week low of $68.84 and a fifty-two week high of $92.02. The stock has a 50-day simple moving average of $83.53 and a 200-day simple moving average of $81.16.

Medtronic (NYSE:MDT) last posted its quarterly earnings data on Tuesday, February 20th. The medical technology company reported $1.30 earnings per share for the quarter, beating the consensus estimate of $1.26 by $0.04. The business had revenue of $8.09 billion during the quarter, compared to the consensus estimate 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% compared to the same quarter last year. During the same period in the prior year, the company earned $1.30 earnings per share. Equities research analysts expect that Medtronic plc will post 5.2 earnings per share for the current year.

Medtronic Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, April 12th. Investors of record on Friday, March 22nd were issued a dividend of $0.69 per share. This represents a $2.76 dividend on an annualized basis and a dividend yield of 3.46%. The ex-dividend date of this dividend was Thursday, March 21st. Medtronic’s dividend payout ratio is currently 87.90%.

About Medtronic

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.