Naviter Wealth LLC Buys 354 Shares of Medtronic plc (NYSE:MDT)

Naviter Wealth LLC increased its stake in shares of Medtronic plc (NYSE:MDT) by 3.4% during the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 10,856 shares of the medical technology company’s stock after purchasing an additional 354 shares during the period. Naviter Wealth LLC’s holdings in Medtronic were worth $902,000 as of its most recent SEC filing.

Several other large investors have also added to or reduced their stakes in the stock. Brookstone Capital Management boosted its holdings in Medtronic by 17.7% in the 3rd quarter. Brookstone Capital Management now owns 74,541 shares of the medical technology company’s stock valued at $5,393,000 after purchasing an additional 11,230 shares during the period. Commonwealth Equity Services LLC boosted its stake in Medtronic by 7.0% during the third quarter. Commonwealth Equity Services LLC now owns 737,937 shares of the medical technology company’s stock valued at $57,825,000 after buying an additional 48,071 shares during the period. Sheets Smith Wealth Management grew its position in Medtronic by 21.9% during the third quarter. Sheets Smith Wealth Management now owns 4,053 shares of the medical technology company’s stock worth $318,000 after buying an additional 728 shares in the last quarter. Accurate Wealth Management LLC grew its position in Medtronic by 9.9% during the third quarter. Accurate Wealth Management LLC now owns 4,583 shares of the medical technology company’s stock worth $334,000 after buying an additional 413 shares in the last quarter. Finally, Colton Groome Financial Advisors LLC increased its stake in Medtronic by 28.2% in the 3rd quarter. Colton Groome Financial Advisors LLC now owns 12,656 shares of the medical technology company’s stock worth $992,000 after acquiring an additional 2,786 shares during the last quarter. Institutional investors own 82.06% of the company’s stock.

Insider Buying and Selling

In other Medtronic news, EVP Michael Marinaro sold 854 shares of the business’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 transaction, the executive vice president now directly owns 27,925 shares of the company’s stock, valued at approximately $2,321,684.50. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other news, EVP Michael Marinaro sold 854 shares of the firm’s 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 sale, the executive vice president now directly owns 27,925 shares of the company’s stock, valued at approximately $2,321,684.50. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP Sean Salmon sold 30,695 shares of the company’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 transaction, the executive vice president now owns 48,289 shares in the company, valued at approximately $4,110,842.57. The disclosure for this sale can be found here. 0.30% of the stock is currently owned by insiders.

Analyst Ratings Changes

Several research analysts have recently commented on the company. Royal Bank of Canada reissued a “sector perform” rating and set a $92.00 price objective on shares of Medtronic in a report on Wednesday, February 21st. Oppenheimer boosted their price target on shares of Medtronic from $89.00 to $92.00 and gave the stock a “market perform” rating in a research note on Wednesday, February 21st. Mizuho raised their price objective on shares of Medtronic from $95.00 to $98.00 and gave the company a “buy” rating in a research report on Wednesday, February 21st. Finally, Truist Financial increased their target price on Medtronic from $87.00 to $90.00 and gave the company a “hold” rating in a research note on Wednesday, February 21st. One 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. Based on data from MarketBeat.com, Medtronic currently has a consensus rating of “Hold” and a consensus price target of $94.91.

Medtronic Price Performance

Shares of Medtronic stock opened at $79.82 on Tuesday. The company’s fifty day simple moving average is $83.46 and its two-hundred day simple moving average is $81.32. Medtronic plc has a 12-month low of $68.84 and a 12-month high of $92.02. The firm has a market cap of $105.99 billion, a PE ratio of 25.75, a price-to-earnings-growth ratio of 2.73 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.

Medtronic (NYSE:MDT) last posted its 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. The company had revenue of $8.09 billion for 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 quarterly revenue was up 4.7% on a year-over-year basis. During the same period last year, the firm earned $1.30 earnings per share. As a group, equities analysts expect that Medtronic plc will post 5.2 EPS for the current year.

Medtronic Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, April 12th. Investors of record on Friday, March 22nd were issued a dividend of $0.69 per share. The ex-dividend date of this dividend was Thursday, March 21st. This represents a $2.76 dividend on an annualized basis and a dividend yield of 3.46%. Medtronic’s dividend payout ratio is presently 87.90%.

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.