Medtronic plc (NYSE:MDT) Shares Purchased by Xponance Inc.

Xponance Inc. boosted its holdings in Medtronic plc (NYSE:MDT) by 6.4% during the fourth quarter, HoldingsChannel reports. The fund owned 174,712 shares of the medical technology company’s stock after buying an additional 10,461 shares during the period. Xponance Inc.’s holdings in Medtronic were worth $14,393,000 at the end of the most recent quarter.

Other large investors have also recently added to or reduced their stakes in the company. Hartford Financial Management Inc. lifted its stake in Medtronic by 425.0% during the third quarter. Hartford Financial Management Inc. now owns 315 shares of the medical technology company’s stock worth $25,000 after purchasing an additional 255 shares in the last quarter. Fortitude Family Office LLC acquired a new position in Medtronic during the fourth quarter worth $25,000. Leith Wheeler Investment Counsel Ltd. lifted its stake in Medtronic by 293.0% during the fourth quarter. Leith Wheeler Investment Counsel Ltd. now owns 316,643 shares of the medical technology company’s stock worth $26,000 after purchasing an additional 236,064 shares in the last quarter. Financial Gravity Asset Management Inc. lifted its stake in Medtronic by 317.0% during the third quarter. Financial Gravity Asset Management Inc. now owns 367 shares of the medical technology company’s stock worth $29,000 after purchasing an additional 279 shares in the last quarter. Finally, Princeton Global Asset Management LLC acquired a new position in Medtronic during the third quarter worth $31,000. 82.06% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

MDT has been the topic of a number of research reports. Mizuho upped their price target on Medtronic from $95.00 to $98.00 and gave the stock a “buy” rating in a research note on Wednesday, February 21st. Oppenheimer upped their price objective on 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 upped their price objective on Medtronic from $87.00 to $90.00 and gave the stock a “hold” rating in a research report on Wednesday, February 21st. Finally, Royal Bank of Canada reaffirmed a “sector perform” rating and set a $92.00 price objective on shares of Medtronic in a research report on Wednesday, February 21st. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $94.91.

Medtronic Stock Performance

Shares of MDT traded up $0.35 during mid-day trading on Friday, hitting $79.54. 511,009 shares of the company’s stock were exchanged, compared to its average volume of 6,238,090. Medtronic plc has a fifty-two week low of $68.84 and a fifty-two week high of $92.02. The firm has a market capitalization of $105.61 billion, a P/E ratio of 25.22, a P/E/G ratio of 2.71 and a beta of 0.76. The business’s 50 day moving average is $84.04 and its two-hundred day moving average is $81.00. The company has a current ratio of 2.30, a quick ratio of 1.71 and a debt-to-equity ratio of 0.46.

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

Medtronic Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, April 12th. Investors of record on Friday, March 22nd were given a $0.69 dividend. The ex-dividend date of this dividend was Thursday, March 21st. This represents a $2.76 dividend on an annualized basis and a yield of 3.47%. Medtronic’s payout ratio is currently 87.90%.

Insider Activity at Medtronic

In other Medtronic news, EVP Michael Marinaro sold 854 shares of the stock in a transaction dated Monday, April 8th. The shares were sold at an average price of $83.14, for a total value of $71,001.56. Following the completion of the transaction, the executive vice president now directly owns 27,925 shares of the company’s stock, valued at $2,321,684.50. The sale was disclosed in a filing with the SEC, which is available at this link. In other news, EVP Sean Salmon sold 30,695 shares of the firm’s stock in a transaction that occurred on Wednesday, February 21st. The shares were 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 of the company’s stock, valued at approximately $4,110,842.57. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP Michael Marinaro sold 854 shares of the firm’s stock in a transaction that occurred 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 transaction, the executive vice president now directly 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 insiders.

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.