Boston Family Office LLC Purchases 413 Shares of Medtronic plc (NYSE:MDT)

Boston Family Office LLC raised its position in Medtronic plc (NYSE:MDT) by 1.5% during the 4th quarter, according to its most recent filing with the SEC. The institutional investor owned 27,305 shares of the medical technology company’s stock after acquiring an additional 413 shares during the period. Boston Family Office LLC’s holdings in Medtronic were worth $2,181,000 as of its most recent filing with the SEC.

Other large investors have also recently bought and sold shares of the company. Guardian Wealth Management Inc. lifted its holdings in Medtronic by 0.9% in the third quarter. Guardian Wealth Management Inc. now owns 13,131 shares of the medical technology company’s stock valued at $1,182,000 after buying an additional 115 shares during the period. MONECO Advisors LLC lifted its stake in shares of Medtronic by 1.8% in the 4th quarter. MONECO Advisors LLC now owns 6,408 shares of the medical technology company’s stock valued at $512,000 after purchasing an additional 115 shares during the period. OLD Second National Bank of Aurora boosted its position in shares of Medtronic by 0.3% during the 4th quarter. OLD Second National Bank of Aurora now owns 36,303 shares of the medical technology company’s stock valued at $2,900,000 after purchasing an additional 121 shares in the last quarter. McKinley Carter Wealth Services Inc. grew its stake in Medtronic by 0.7% during the fourth quarter. McKinley Carter Wealth Services Inc. now owns 19,677 shares of the medical technology company’s stock worth $1,572,000 after purchasing an additional 129 shares during the period. Finally, Vestor Capital LLC increased its holdings in Medtronic by 0.3% in the fourth quarter. Vestor Capital LLC now owns 51,375 shares of the medical technology company’s stock worth $4,104,000 after purchasing an additional 138 shares in the last quarter. Institutional investors and hedge funds own 82.06% of the company’s stock.

Insider Activity

In other news, EVP Brett A. Wall sold 9,850 shares of the stock in a transaction that occurred on Wednesday, January 8th. The shares were sold at an average price of $80.41, for a total transaction of $792,038.50. Following the completion of the transaction, the executive vice president now directly owns 40,708 shares of the company’s stock, valued at $3,273,330.28. This represents a 19.48 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 0.20% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on MDT. Needham & Company LLC restated a “hold” rating on shares of Medtronic in a report on Wednesday, February 19th. Citigroup upgraded shares of Medtronic from a “neutral” rating to a “buy” rating and raised their price target for the stock from $92.00 to $107.00 in a report on Tuesday, March 4th. Truist Financial dropped their price objective on shares of Medtronic from $93.00 to $89.00 and set a “hold” rating on the stock in a report on Wednesday, December 18th. Royal Bank of Canada restated an “outperform” rating and issued a $105.00 target price on shares of Medtronic in a research note on Wednesday, February 19th. Finally, Robert W. Baird upped their price target on Medtronic from $90.00 to $91.00 and gave the stock a “neutral” rating in a research note on Wednesday, February 19th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating, six have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, Medtronic presently has a consensus rating of “Hold” and a consensus price target of $96.07.

Medtronic Price Performance

MDT opened at $89.92 on Tuesday. The firm’s fifty day moving average price is $91.02 and its two-hundred day moving average price is $87.99. The company has a market capitalization of $115.33 billion, a price-to-earnings ratio of 27.33, a P/E/G ratio of 2.22 and a beta of 0.80. The company has a debt-to-equity ratio of 0.48, a current ratio of 1.90 and a quick ratio of 1.39. Medtronic plc has a 1 year low of $75.96 and a 1 year high of $96.25.

Medtronic (NYSE:MDT) last issued its quarterly earnings data on Tuesday, February 18th. The medical technology company reported $1.39 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.36 by $0.03. Medtronic had a net margin of 12.83% and a return on equity of 14.07%. The business had revenue of $8.29 billion during the quarter, compared to the consensus estimate of $8.33 billion. As a group, analysts anticipate that Medtronic plc will post 5.46 earnings per share for the current fiscal year.

Medtronic Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, April 11th. Shareholders of record on Friday, March 28th will be paid a $0.70 dividend. The ex-dividend date is Friday, March 28th. This represents a $2.80 dividend on an annualized basis and a yield of 3.11%. Medtronic’s dividend payout ratio (DPR) is presently 85.11%.

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.