Fielder Capital Group LLC Acquires Shares of 2,731 Medtronic plc (NYSE:MDT)

Fielder Capital Group LLC bought a new position in shares of Medtronic plc (NYSE:MDT) during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 2,731 shares of the medical technology company’s stock, valued at approximately $225,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Fortitude Family Office LLC bought a new position in shares of Medtronic in the fourth quarter worth about $25,000. MeadowBrook Investment Advisors LLC acquired a new position in Medtronic during the 4th quarter worth $27,000. Financial Gravity Asset Management Inc. boosted its position in Medtronic by 317.0% in the 3rd quarter. Financial Gravity Asset Management Inc. now owns 367 shares of the medical technology company’s stock valued at $29,000 after buying an additional 279 shares during the last quarter. Princeton Global Asset Management LLC acquired a new stake in shares of Medtronic in the 3rd quarter valued at $31,000. Finally, Hartford Financial Management Inc. lifted its stake in shares of Medtronic by 52.1% during the fourth quarter. Hartford Financial Management Inc. now owns 479 shares of the medical technology company’s stock valued at $39,000 after acquiring an additional 164 shares during the period. 82.06% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In related news, EVP Michael Marinaro sold 854 shares of the firm’s stock in a transaction on Monday, April 8th. The shares were sold at an average price of $83.14, for a total transaction of $71,001.56. Following 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 document filed with the SEC, which is available at this hyperlink. In other Medtronic news, EVP Sean Salmon sold 30,695 shares of the business’s stock in a transaction that occurred on Wednesday, February 21st. The stock was sold at an average price of $85.13, for a total value of $2,613,065.35. Following the sale, the executive vice president now owns 48,289 shares in the company, valued at approximately $4,110,842.57. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 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. Corporate insiders own 0.30% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on MDT. Mizuho boosted their price objective on Medtronic from $95.00 to $98.00 and gave the stock a “buy” rating in a report on Wednesday, February 21st. Royal Bank of Canada restated a “sector perform” rating and issued a $92.00 price objective on shares of Medtronic in a report on Wednesday, February 21st. Oppenheimer lifted their target price on shares of Medtronic from $89.00 to $92.00 and gave the stock a “market perform” rating in a report on Wednesday, February 21st. Finally, Truist Financial upped their target price on shares of Medtronic from $87.00 to $90.00 and gave the company a “hold” rating in a research report on Wednesday, February 21st. One research analyst has rated the stock with a sell rating, four have given a hold rating and six have issued a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Hold” and an average price target of $94.91.

Medtronic Trading Up 0.1 %

Shares of MDT traded up $0.08 during trading hours on Monday, reaching $81.77. The stock had a trading volume of 3,676,129 shares, compared to its average volume of 6,199,255. The company has a market cap of $108.57 billion, a P/E ratio of 26.04, a P/E/G ratio of 2.66 and a beta of 0.78. Medtronic plc has a 52 week low of $68.84 and a 52 week high of $91.00. 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 firm has a 50-day moving average of $83.05 and a 200 day moving average of $81.63.

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

Medtronic Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, April 12th. Shareholders of record on Friday, March 22nd were paid a $0.69 dividend. This represents a $2.76 dividend on an annualized basis and a yield of 3.38%. The ex-dividend date was Thursday, March 21st. Medtronic’s payout ratio 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.