Charles Schwab Investment Management Inc. Acquires 101,111 Shares of Medtronic plc (NYSE:MDT)

Charles Schwab Investment Management Inc. raised its position in Medtronic plc (NYSE:MDT) by 0.9% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 11,089,400 shares of the medical technology company’s stock after buying an additional 101,111 shares during the quarter. Charles Schwab Investment Management Inc. owned about 0.83% of Medtronic worth $893,352,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of the company. Apollon Wealth Management LLC increased its holdings in Medtronic by 43.0% in the 4th quarter. Apollon Wealth Management LLC now owns 50,804 shares of the medical technology company’s stock valued at $4,185,000 after buying an additional 15,265 shares during the period. Fielder Capital Group LLC bought a new position in Medtronic in the 4th quarter valued at about $225,000. Machina Capital S.A.S. acquired a new stake in shares of Medtronic in the 4th quarter valued at approximately $995,000. Maryland State Retirement & Pension System boosted its stake in shares of Medtronic by 1.1% in the 4th quarter. Maryland State Retirement & Pension System now owns 103,409 shares of the medical technology company’s stock valued at $8,519,000 after purchasing an additional 1,100 shares in the last quarter. Finally, Private Advisor Group LLC boosted its stake in shares of Medtronic by 2.9% in the 4th quarter. Private Advisor Group LLC now owns 109,846 shares of the medical technology company’s stock valued at $9,049,000 after purchasing an additional 3,083 shares in the last quarter. 82.06% of the stock is owned by institutional investors.

Insiders Place Their Bets

In related news, EVP Michael Marinaro sold 854 shares of the 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 $2,321,684.50. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other Medtronic news, EVP Michael Marinaro sold 854 shares of the business’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 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Sean Salmon sold 30,695 shares of the stock in a transaction dated 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 sale, the executive vice president now owns 48,289 shares of the company’s stock, valued at approximately $4,110,842.57. The disclosure for this sale can be found here. Company insiders own 0.30% of the company’s stock.

Medtronic Trading Down 0.5 %

NYSE:MDT traded down $0.39 during mid-day trading on Wednesday, hitting $81.51. 1,953,842 shares of the company’s stock were exchanged, compared to its average volume of 6,136,477. 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 plc has a fifty-two week low of $68.84 and a fifty-two week high of $91.00. The company has a 50 day simple moving average of $83.01 and a 200-day simple moving average of $81.69. The firm has a market capitalization of $108.23 billion, a P/E ratio of 26.01, a PEG ratio of 2.66 and a beta of 0.78.

Medtronic (NYSE:MDT) last released 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 net margin of 13.00% and a return on equity of 13.71%. The firm had revenue of $8.09 billion during the quarter, compared to analyst estimates of $7.95 billion. During the same quarter last year, the business earned $1.30 EPS. The company’s revenue was up 4.7% compared to the same quarter last year. As a group, research analysts expect that Medtronic plc will post 5.2 earnings per share for the current year.

Medtronic Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, April 12th. Shareholders 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 annualized dividend and a yield of 3.39%. Medtronic’s payout ratio is 87.90%.

Wall Street Analysts Forecast Growth

MDT has been the topic of a number of research analyst reports. 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. Mizuho raised their price target on shares of Medtronic from $95.00 to $98.00 and gave the company a “buy” rating in a research note on Wednesday, February 21st. Oppenheimer raised their price target on shares of Medtronic from $89.00 to $92.00 and gave the company a “market perform” rating in a research note on Wednesday, February 21st. Finally, Truist Financial raised their price target on shares of Medtronic from $87.00 to $90.00 and gave the company a “hold” rating in a research note on Wednesday, February 21st. One investment analyst has rated the stock with a sell rating, four have given a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat, Medtronic has a consensus rating of “Hold” and a consensus price target of $94.91.

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.