Brown Financial Advisors Purchases 2,264 Shares of Medtronic plc (NYSE:MDT)

Brown Financial Advisors increased its holdings in shares of Medtronic plc (NYSE:MDT) by 11.9% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 21,363 shares of the medical technology company’s stock after purchasing an additional 2,264 shares during the quarter. Brown Financial Advisors’ holdings in Medtronic were worth $1,706,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Clear Harbor Asset Management LLC raised its stake in shares of Medtronic by 1.2% during the 3rd quarter. Clear Harbor Asset Management LLC now owns 9,558 shares of the medical technology company’s stock valued at $861,000 after buying an additional 111 shares during the last quarter. Guardian Wealth Management Inc. grew its holdings in Medtronic by 0.9% during the third quarter. Guardian Wealth Management Inc. now owns 13,131 shares of the medical technology company’s stock worth $1,182,000 after acquiring an additional 115 shares during the period. MONECO Advisors LLC raised its position in Medtronic by 1.8% during the fourth quarter. MONECO Advisors LLC now owns 6,408 shares of the medical technology company’s stock valued at $512,000 after acquiring an additional 115 shares in the last quarter. First City Capital Management Inc. lifted its holdings in Medtronic by 2.9% in the third quarter. First City Capital Management Inc. now owns 4,123 shares of the medical technology company’s stock valued at $371,000 after acquiring an additional 116 shares during the period. Finally, Hardy Reed LLC boosted its position in Medtronic by 4.4% in the 3rd quarter. Hardy Reed LLC now owns 2,743 shares of the medical technology company’s stock worth $247,000 after purchasing an additional 116 shares in the last quarter. Institutional investors own 82.06% of the company’s stock.

Insider Buying and Selling

In related news, EVP Brett A. Wall sold 12,437 shares of the firm’s stock in a transaction dated Friday, January 24th. The shares were sold at an average price of $90.00, for a total transaction of $1,119,330.00. Following the completion of the sale, the executive vice president now directly owns 40,979 shares in the company, valued at approximately $3,688,110. This trade represents a 23.28 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 0.20% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several equities analysts have recently weighed in on MDT shares. Barclays lifted their target price on shares of Medtronic from $105.00 to $109.00 and gave the company an “overweight” rating in a report on Tuesday, November 26th. Sanford C. Bernstein lifted their price objective on shares of Medtronic from $96.00 to $97.00 and gave the company an “outperform” rating in a report on Wednesday, November 20th. UBS Group increased their target price on shares of Medtronic from $85.00 to $95.00 and gave the stock a “neutral” rating in a research note on Wednesday, February 19th. Wells Fargo & Company dropped their target price on Medtronic from $106.00 to $98.00 and set an “overweight” rating on the stock in a research report on Wednesday, November 20th. Finally, Truist Financial reduced their price target on Medtronic from $93.00 to $89.00 and set a “hold” rating for the company in a report on Wednesday, December 18th. One investment analyst has rated the stock with a sell rating, nine have given a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $95.00.

Medtronic Trading Up 0.4 %

Shares of MDT stock opened at $90.27 on Tuesday. Medtronic plc has a fifty-two week low of $75.96 and a fifty-two week high of $93.08. The firm has a market capitalization of $115.76 billion, a P/E ratio of 27.44, a PEG ratio of 2.22 and a beta of 0.84. The stock’s fifty day moving average is $86.26 and its two-hundred day moving average is $87.24. The company has a debt-to-equity ratio of 0.48, a quick ratio of 1.39 and a current ratio of 1.90.

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

Medtronic Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, January 10th. Investors of record on Friday, December 27th were issued a $0.70 dividend. The ex-dividend date of this dividend was Friday, December 27th. This represents a $2.80 annualized dividend and a dividend yield of 3.10%. Medtronic’s dividend payout ratio is presently 85.11%.

Medtronic Company 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.