Medtronic plc (NYSE:MDT) Shares Bought by Pekin Hardy Strauss Inc.

Pekin Hardy Strauss Inc. increased its position in shares of Medtronic plc (NYSE:MDT) by 7.7% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 78,899 shares of the medical technology company’s stock after purchasing an additional 5,648 shares during the period. Medtronic accounts for approximately 0.9% of Pekin Hardy Strauss Inc.’s portfolio, making the stock its 25th largest position. Pekin Hardy Strauss Inc.’s holdings in Medtronic were worth $6,500,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of MDT. Marino Stram & Associates LLC lifted its holdings in shares of Medtronic by 1.8% during the 4th quarter. Marino Stram & Associates LLC now owns 7,127 shares of the medical technology company’s stock valued at $587,000 after acquiring an additional 126 shares in the last quarter. Modera Wealth Management LLC lifted its stake in shares of Medtronic by 3.9% during the third quarter. Modera Wealth Management LLC now owns 3,537 shares of the medical technology company’s stock worth $277,000 after purchasing an additional 133 shares in the last quarter. jvl associates llc boosted its position in shares of Medtronic by 3.8% in the fourth quarter. jvl associates llc now owns 3,840 shares of the medical technology company’s stock worth $316,000 after buying an additional 139 shares during the period. Dfpg Investments LLC raised its holdings in shares of Medtronic by 0.3% during the 4th quarter. Dfpg Investments LLC now owns 53,045 shares of the medical technology company’s stock valued at $4,413,000 after buying an additional 142 shares during the period. Finally, DORCHESTER WEALTH MANAGEMENT Co lifted its position in Medtronic by 3.3% during the 3rd quarter. DORCHESTER WEALTH MANAGEMENT Co now owns 4,653 shares of the medical technology company’s stock worth $365,000 after acquiring an additional 150 shares in the last quarter. Hedge funds and other institutional investors own 82.06% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on MDT. Oppenheimer increased their price objective on shares of Medtronic from $89.00 to $92.00 and gave the company a “market perform” rating in a research report on Wednesday, February 21st. Truist Financial raised their price target on shares of Medtronic from $87.00 to $90.00 and gave the company a “hold” rating in a report on Wednesday, February 21st. Mizuho upped their price objective on shares of Medtronic from $95.00 to $98.00 and gave the company a “buy” rating in a research report on Wednesday, February 21st. Finally, 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. 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 data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $94.91.

Insiders Place Their Bets

In related news, EVP Michael Marinaro sold 854 shares of the firm’s stock in a transaction that occurred on Monday, April 8th. The stock was sold at an average price of $83.14, for a total value of $71,001.56. Following the sale, the executive vice president now owns 27,925 shares of the company’s stock, valued at approximately $2,321,684.50. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In other Medtronic news, EVP Michael Marinaro sold 854 shares of the business’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 completion of the transaction, the executive vice president now directly owns 27,925 shares of the company’s stock, valued at approximately $2,321,684.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Sean Salmon sold 30,695 shares of the firm’s stock in a transaction that occurred on Wednesday, February 21st. The shares were sold at an average price of $85.13, for a total transaction 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 disclosure for this sale can be found here. 0.30% of the stock is currently owned by corporate insiders.

Medtronic Stock Down 0.8 %

NYSE MDT traded down $0.62 on Tuesday, hitting $80.24. 6,223,762 shares of the stock traded hands, compared to its average volume of 6,249,437. The company has a market capitalization of $106.54 billion, a P/E ratio of 25.59, a price-to-earnings-growth ratio of 2.73 and a beta of 0.76. The stock has a 50-day moving average of $83.46 and a 200 day moving average of $81.32. 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 twelve month low of $68.84 and a twelve month high of $92.02.

Medtronic (NYSE:MDT) last posted its quarterly earnings results on Tuesday, February 20th. The medical technology company reported $1.30 earnings per share (EPS) for the quarter, beating the consensus estimate 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 business’s revenue was up 4.7% compared to the same quarter last year. During the same period in the prior year, the company posted $1.30 EPS. As a group, analysts expect that Medtronic plc will post 5.2 earnings per share for the current fiscal year.

Medtronic Dividend Announcement

The firm 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. The ex-dividend date was Thursday, March 21st. This represents a $2.76 annualized dividend and a yield of 3.44%. Medtronic’s dividend payout ratio (DPR) is 87.90%.

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.