Medtronic plc (NYSE:MDT) Shares Acquired by ERTS Wealth Advisors LLC

ERTS Wealth Advisors LLC increased its position in Medtronic plc (NYSE:MDTFree Report) by 4.9% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 3,519 shares of the medical technology company’s stock after acquiring an additional 164 shares during the period. ERTS Wealth Advisors LLC’s holdings in Medtronic were worth $290,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also modified their holdings of the company. State Street Corp grew its holdings in shares of Medtronic by 0.3% in the 2nd quarter. State Street Corp now owns 60,146,861 shares of the medical technology company’s stock worth $5,339,879,000 after acquiring an additional 175,765 shares during the period. Morgan Stanley grew its holdings in shares of Medtronic by 9.2% in the 3rd quarter. Morgan Stanley now owns 23,777,808 shares of the medical technology company’s stock worth $1,863,229,000 after acquiring an additional 1,994,123 shares during the period. Bank of New York Mellon Corp grew its holdings in shares of Medtronic by 2.6% in the 3rd quarter. Bank of New York Mellon Corp now owns 20,392,467 shares of the medical technology company’s stock worth $1,597,954,000 after acquiring an additional 508,205 shares during the period. Moneta Group Investment Advisors LLC grew its holdings in Medtronic by 127,655.1% during the 4th quarter. Moneta Group Investment Advisors LLC now owns 14,160,371 shares of the medical technology company’s stock valued at $1,100,544,000 after buying an additional 14,149,287 shares during the last quarter. Finally, Norges Bank acquired a new stake in Medtronic during the 4th quarter valued at $1,062,316,000. Institutional investors and hedge funds own 82.06% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on MDT shares. 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. Truist Financial increased their target price on Medtronic from $87.00 to $90.00 and gave the company a “hold” rating in a report on Wednesday, February 21st. Oppenheimer increased their target price on Medtronic from $89.00 to $92.00 and gave the company a “market perform” rating in a report on Wednesday, February 21st. Finally, Mizuho increased their target price on Medtronic from $95.00 to $98.00 and gave the company a “buy” rating in a report on Wednesday, February 21st. One analyst has rated the stock with a sell rating, four have issued a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Medtronic currently has an average rating of “Moderate Buy” and an average target price of $94.91.

View Our Latest Stock Analysis on MDT

Insider Activity at Medtronic

In related news, EVP Sean Salmon sold 30,695 shares of Medtronic stock in a transaction 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 owns 48,289 shares in the company, 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. 0.30% of the stock is owned by insiders.

Medtronic Price Performance

MDT stock opened at $85.00 on Thursday. Medtronic plc has a 52-week low of $68.84 and a 52-week high of $92.02. The stock’s fifty day simple moving average is $85.25 and its 200-day simple moving average is $80.90. The company has a quick ratio of 1.71, a current ratio of 2.30 and a debt-to-equity ratio of 0.46. The stock has a market capitalization of $112.86 billion, a price-to-earnings ratio of 27.07, a price-to-earnings-growth ratio of 2.91 and a beta of 0.76.

Medtronic (NYSE:MDTGet Free Report) last issued its earnings results on Tuesday, February 20th. The medical technology company reported $1.30 earnings per share for the quarter, beating analysts’ consensus estimates of $1.26 by $0.04. Medtronic had a return on equity of 13.71% and a net margin of 13.00%. The firm had revenue of $8.09 billion for the quarter, compared to analysts’ expectations of $7.95 billion. During the same quarter last year, the firm earned $1.30 earnings per share. The firm’s revenue for the quarter was up 4.7% compared to the same quarter last year. Equities research analysts expect that Medtronic plc will post 5.2 EPS for the current year.

Medtronic Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, April 12th. Investors of record on Friday, March 22nd will be issued a $0.69 dividend. This represents a $2.76 dividend on an annualized basis and a yield of 3.25%. The ex-dividend date is Thursday, March 21st. Medtronic’s payout ratio is currently 87.90%.

About Medtronic

(Free Report)

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.

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Institutional Ownership by Quarter for Medtronic (NYSE:MDT)

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