Medtronic plc (NYSE:MDT) Stock Holdings Lifted by Northcape Wealth Management LLC

Northcape Wealth Management LLC lifted its position in Medtronic plc (NYSE:MDT) by 13.4% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 21,930 shares of the medical technology company’s stock after buying an additional 2,586 shares during the quarter. Northcape Wealth Management LLC’s holdings in Medtronic were worth $1,807,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also modified their holdings of the company. BKM Wealth Management LLC bought a new stake in Medtronic in the 4th quarter valued at $941,000. International Assets Investment Management LLC lifted its position in shares of Medtronic by 8,340.3% in the 4th quarter. International Assets Investment Management LLC now owns 1,038,579 shares of the medical technology company’s stock worth $85,558,000 after acquiring an additional 1,026,274 shares during the period. Tower Research Capital LLC TRC increased its position in shares of Medtronic by 69.3% during the third quarter. Tower Research Capital LLC TRC now owns 40,476 shares of the medical technology company’s stock valued at $3,172,000 after purchasing an additional 16,574 shares during the period. Exchange Traded Concepts LLC raised its stake in shares of Medtronic by 109,325.0% in the fourth quarter. Exchange Traded Concepts LLC now owns 91,917 shares of the medical technology company’s stock valued at $7,572,000 after purchasing an additional 91,833 shares in the last quarter. Finally, Louisiana State Employees Retirement System acquired a new stake in Medtronic during the fourth quarter worth $6,623,000. 82.06% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several research analysts recently issued reports on MDT shares. Mizuho increased their price target on shares of Medtronic from $95.00 to $98.00 and gave the stock a “buy” rating in a research report on Wednesday, February 21st. Oppenheimer increased their price target 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 target price on shares of 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 restated a “sector perform” rating and set a $92.00 target price on shares of Medtronic in a research report on Wednesday, February 21st. One analyst has rated the stock with a sell rating, four have assigned a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $94.91.

Medtronic Price Performance

NYSE:MDT traded down $0.61 during trading hours on Tuesday, reaching $80.25. 6,487,312 shares of the company were exchanged, compared to its average volume of 6,251,118. The company has a market capitalization of $106.56 billion, a P/E ratio of 25.59, a P/E/G ratio of 2.73 and a beta of 0.76. The company has a debt-to-equity ratio of 0.46, a current ratio of 2.30 and a quick ratio of 1.71. The business has a 50 day moving average of $83.46 and a 200 day moving average of $81.32. Medtronic plc has a 1-year low of $68.84 and a 1-year high of $92.02.

Medtronic (NYSE:MDT) last posted its quarterly earnings results 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 business had revenue of $8.09 billion during the quarter, compared to the consensus estimate of $7.95 billion. Medtronic had a return on equity of 13.71% and a net margin of 13.00%. Medtronic’s revenue for the quarter was up 4.7% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.30 earnings per share. Research analysts forecast that Medtronic plc will post 5.2 EPS for the current year.

Medtronic Dividend Announcement

The business also recently announced 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. This represents a $2.76 annualized dividend and a yield of 3.44%. The ex-dividend date of this dividend was Thursday, March 21st. Medtronic’s payout ratio is presently 87.90%.

Insider Buying and Selling at Medtronic

In other news, EVP Sean Salmon sold 30,695 shares of the company’s stock in a transaction on Wednesday, February 21st. The shares were 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 directly owns 48,289 shares of the company’s stock, valued at approximately $4,110,842.57. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In other news, EVP Sean Salmon sold 30,695 shares of the firm’s stock in a transaction dated 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 completion of the sale, the executive vice president now directly owns 48,289 shares in the company, valued at approximately $4,110,842.57. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, EVP Michael Marinaro sold 854 shares of the stock in a transaction on Monday, April 8th. The stock was 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 owns 27,925 shares in the company, 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.

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.