Liberty One Investment Management LLC Increases Stake in Medtronic plc (NYSE:MDT)

Liberty One Investment Management LLC increased its holdings in shares of Medtronic plc (NYSE:MDT) by 7.7% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 34,192 shares of the medical technology company’s stock after purchasing an additional 2,438 shares during the quarter. Liberty One Investment Management LLC’s holdings in Medtronic were worth $2,817,000 at the end of the most recent quarter.

Several other institutional investors also recently added to or reduced their stakes in MDT. BKM Wealth Management LLC acquired a new position in shares of Medtronic in the fourth quarter valued at approximately $941,000. Perceptive Advisors LLC acquired a new position in shares of Medtronic in the second quarter valued at approximately $41,143,000. Tower Research Capital LLC TRC increased its holdings in shares of Medtronic by 69.3% in the third quarter. Tower Research Capital LLC TRC now owns 40,476 shares of the medical technology company’s stock valued at $3,172,000 after purchasing an additional 16,574 shares during the period. International Assets Investment Management LLC increased its holdings in shares of Medtronic by 8,340.3% in the fourth quarter. International Assets Investment Management LLC now owns 1,038,579 shares of the medical technology company’s stock valued at $85,558,000 after purchasing an additional 1,026,274 shares during the period. Finally, Ropes Wealth Advisors LLC increased its holdings in shares of Medtronic by 21.4% in the third quarter. Ropes Wealth Advisors LLC now owns 7,205 shares of the medical technology company’s stock valued at $565,000 after purchasing an additional 1,269 shares during the period. Institutional investors and hedge funds own 82.06% of the company’s stock.

Insider Buying and Selling

In other Medtronic 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 transaction, the executive vice president now directly owns 27,925 shares in the company, valued at $2,321,684.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Medtronic news, EVP Sean Salmon sold 30,695 shares of the stock in a transaction on Wednesday, February 21st. The stock was sold at an average price of $85.13, for a total transaction of $2,613,065.35. Following the completion of the transaction, the executive vice president now directly owns 48,289 shares in the company, valued at $4,110,842.57. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, 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 value of $71,001.56. Following the transaction, the executive vice president now owns 27,925 shares of the company’s stock, valued at $2,321,684.50. The disclosure for this sale can be found here. 0.30% of the stock is owned by company insiders.

Analysts Set New Price Targets

MDT has been the topic of a number of analyst reports. Mizuho lifted their price target on Medtronic from $95.00 to $98.00 and gave the company a “buy” rating in a research note on Wednesday, February 21st. Royal Bank of Canada restated a “sector perform” rating and issued a $92.00 price target on shares of Medtronic in a research note on Wednesday, February 21st. Truist Financial lifted their price target on Medtronic from $87.00 to $90.00 and gave the company a “hold” rating in a research note on Wednesday, February 21st. Finally, Oppenheimer lifted their price target on Medtronic from $89.00 to $92.00 and gave the company a “market perform” rating in a research note on Wednesday, February 21st. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat.com, Medtronic has a consensus rating of “Moderate Buy” and a consensus target price of $94.91.

Medtronic Stock Down 2.1 %

Shares of MDT traded down $1.72 during trading hours on Wednesday, reaching $82.08. The company’s stock had a trading volume of 2,940,593 shares, compared to its average volume of 6,247,624. The firm has a market cap of $108.99 billion, a price-to-earnings ratio of 26.69, a P/E/G ratio of 2.84 and a beta of 0.76. 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 company has a 50 day moving average of $85.02 and a two-hundred day moving average of $80.96. Medtronic plc has a 1-year low of $68.84 and a 1-year high of $92.02.

Medtronic (NYSE:MDT) last posted its quarterly earnings data on Tuesday, February 20th. The medical technology company reported $1.30 earnings per share for the quarter, beating the consensus estimate of $1.26 by $0.04. The company had revenue of $8.09 billion during the quarter, compared to analysts’ expectations of $7.95 billion. Medtronic had a return on equity of 13.71% and a net margin of 13.00%. Medtronic’s revenue for the quarter was up 4.7% compared to the same quarter last year. During the same period in the prior year, the business earned $1.30 earnings per share. As a group, research analysts predict that Medtronic plc will post 5.2 EPS for the current fiscal 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 given a $0.69 dividend. The ex-dividend date is Thursday, March 21st. This represents a $2.76 annualized dividend and a yield of 3.36%. Medtronic’s dividend payout ratio (DPR) is currently 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.