Medtronic plc (NYSE:MDT) Shares Bought by CreativeOne Wealth LLC

CreativeOne Wealth LLC lifted its stake in Medtronic plc (NYSE:MDTFree Report) by 52.4% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 4,156 shares of the medical technology company’s stock after buying an additional 1,429 shares during the period. CreativeOne Wealth LLC’s holdings in Medtronic were worth $342,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of MDT. Marino Stram & Associates LLC increased its position in shares of Medtronic by 1.8% in the 4th quarter. Marino Stram & Associates LLC now owns 7,127 shares of the medical technology company’s stock worth $587,000 after purchasing an additional 126 shares during the last quarter. Rogco LP grew its position in shares of Medtronic by 1.9% in the 4th quarter. Rogco LP now owns 6,814 shares of the medical technology company’s stock worth $561,000 after acquiring an additional 129 shares in the last quarter. Verity Asset Management Inc. increased its holdings in shares of Medtronic by 4.3% in the 4th quarter. Verity Asset Management Inc. now owns 3,194 shares of the medical technology company’s stock valued at $263,000 after acquiring an additional 132 shares during the last quarter. Modera Wealth Management LLC increased its holdings in shares of Medtronic by 3.9% in the 3rd quarter. Modera Wealth Management LLC now owns 3,537 shares of the medical technology company’s stock valued at $277,000 after acquiring an additional 133 shares during the last quarter. Finally, jvl associates llc lifted its stake in Medtronic by 3.8% during the fourth quarter. jvl associates llc now owns 3,840 shares of the medical technology company’s stock worth $316,000 after purchasing an additional 139 shares during the last quarter. 82.06% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

MDT has been the topic of a number of recent research reports. Oppenheimer raised their price target on shares of Medtronic from $89.00 to $92.00 and gave the stock a “market perform” rating in a research report on Wednesday, February 21st. Truist Financial reduced their price objective on Medtronic from $90.00 to $88.00 and set a “hold” rating for the company in a research report on Friday. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $92.00 target price on shares of Medtronic in a research report on Friday. Wells Fargo & Company boosted their price target on shares of Medtronic from $102.00 to $105.00 and gave the company an “overweight” rating in a report on Friday. Finally, Mizuho lifted 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. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and six have given a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $94.45.

Check Out Our Latest Stock Analysis on MDT

Medtronic Price Performance

Shares of MDT traded up $0.91 during mid-day trading on Friday, hitting $82.29. The company’s stock had a trading volume of 8,732,273 shares, compared to its average volume of 5,738,687. The company has a debt-to-equity ratio of 0.47, a current ratio of 2.03 and a quick ratio of 1.71. The firm has a 50-day moving average price of $82.81 and a 200 day moving average price of $82.68. Medtronic plc has a fifty-two week low of $68.84 and a fifty-two week high of $91.00. The stock has a market capitalization of $109.27 billion, a price-to-earnings ratio of 29.92, a PEG ratio of 2.65 and a beta of 0.78.

Medtronic (NYSE:MDTGet Free Report) last announced its earnings results on Thursday, May 23rd. The medical technology company reported $1.46 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.45 by $0.01. Medtronic had a return on equity of 13.47% and a net margin of 11.36%. The company had revenue of $8.59 billion for the quarter, compared to analyst estimates of $8.44 billion. During the same period in the previous year, the firm earned $1.57 earnings per share. Medtronic’s revenue for the quarter was up .5% compared to the same quarter last year. On average, research analysts predict that Medtronic plc will post 5.45 EPS for the current fiscal year.

Medtronic Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, July 12th. Investors of record on Friday, June 28th will be given a dividend of $0.70 per share. The ex-dividend date of this dividend is Friday, June 28th. This is an increase from Medtronic’s previous quarterly dividend of $0.69. This represents a $2.80 dividend on an annualized basis and a yield of 3.40%. Medtronic’s payout ratio is presently 100.36%.

Insider Buying and Selling at Medtronic

In related news, EVP Michael Marinaro sold 854 shares of the stock in a transaction on Monday, April 8th. The stock was sold at an average price of $83.14, for a total transaction 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 sale was disclosed in a filing with the SEC, which is available through this hyperlink. Company insiders own 0.30% of the company’s stock.

Medtronic Company Profile

(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.

Further Reading

Institutional Ownership by Quarter for Medtronic (NYSE:MDT)

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