Crowley Wealth Management Inc. Makes New $680,000 Investment in Medtronic plc (NYSE:MDT)

Crowley Wealth Management Inc. bought a new stake in shares of Medtronic plc (NYSE:MDT) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 8,508 shares of the medical technology company’s stock, valued at approximately $680,000.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Guardian Wealth Management Inc. raised its position in Medtronic by 0.9% during the third quarter. Guardian Wealth Management Inc. now owns 13,131 shares of the medical technology company’s stock worth $1,182,000 after acquiring an additional 115 shares during the period. MONECO Advisors LLC increased its stake in shares of Medtronic by 1.8% during the fourth quarter. MONECO Advisors LLC now owns 6,408 shares of the medical technology company’s stock worth $512,000 after purchasing an additional 115 shares in the last quarter. Hardy Reed LLC raised its holdings in shares of Medtronic by 4.4% during the third quarter. Hardy Reed LLC now owns 2,743 shares of the medical technology company’s stock valued at $247,000 after acquiring an additional 116 shares during the last quarter. OLD Second National Bank of Aurora lifted its holdings in Medtronic by 0.3% in the 4th quarter. OLD Second National Bank of Aurora now owns 36,303 shares of the medical technology company’s stock valued at $2,900,000 after purchasing an additional 121 shares in the last quarter. Finally, McKinley Carter Wealth Services Inc. boosted its stake in Medtronic by 0.7% during the 4th quarter. McKinley Carter Wealth Services Inc. now owns 19,677 shares of the medical technology company’s stock worth $1,572,000 after purchasing an additional 129 shares during the last quarter. 82.06% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on MDT shares. Truist Financial decreased their price target on shares of Medtronic from $93.00 to $89.00 and set a “hold” rating on the stock in a research note on Wednesday, December 18th. Citigroup upgraded Medtronic from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $92.00 to $107.00 in a report on Tuesday, March 4th. Barclays increased their price target on Medtronic from $105.00 to $109.00 and gave the company an “overweight” rating in a report on Tuesday, November 26th. Royal Bank of Canada reissued an “outperform” rating and set a $105.00 price objective on shares of Medtronic in a research note on Wednesday, February 19th. Finally, UBS Group raised their target price on Medtronic from $85.00 to $95.00 and gave the stock a “neutral” rating in a research note on Wednesday, February 19th. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating, six have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $96.07.

Medtronic Price Performance

MDT opened at $90.37 on Friday. The company has a current ratio of 1.90, a quick ratio of 1.39 and a debt-to-equity ratio of 0.48. The firm has a market cap of $115.90 billion, a price-to-earnings ratio of 27.47, a PEG ratio of 2.22 and a beta of 0.80. The stock’s 50-day moving average price is $90.67 and its 200 day moving average price is $88.07. Medtronic plc has a 12-month low of $75.96 and a 12-month high of $96.25.

Medtronic (NYSE:MDT) last announced its earnings results on Tuesday, February 18th. The medical technology company reported $1.39 earnings per share for the quarter, topping the consensus estimate of $1.36 by $0.03. The firm had revenue of $8.29 billion for the quarter, compared to the consensus estimate of $8.33 billion. Medtronic had a net margin of 12.83% and a return on equity of 14.07%. As a group, sell-side analysts expect that Medtronic plc will post 5.46 earnings per share for the current year.

Medtronic Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, April 11th. Shareholders of record on Friday, March 28th will be given a $0.70 dividend. This represents a $2.80 dividend on an annualized basis and a yield of 3.10%. The ex-dividend date is Friday, March 28th. Medtronic’s dividend payout ratio is currently 85.11%.

Insider Activity

In other Medtronic news, EVP Brett A. Wall sold 12,437 shares of the business’s stock in a transaction that occurred on Friday, January 24th. The shares were sold at an average price of $90.00, for a total transaction of $1,119,330.00. Following the completion of the transaction, the executive vice president now owns 40,979 shares in the company, valued at $3,688,110. The trade was a 23.28 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Company insiders own 0.20% of the company’s stock.

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.