Barlow Wealth Partners Inc. Makes New $233,000 Investment in Medtronic plc (NYSE:MDT)

Barlow Wealth Partners Inc. bought a new stake in shares of Medtronic plc (NYSE:MDT) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm bought 2,827 shares of the medical technology company’s stock, valued at approximately $233,000.

Several other institutional investors and hedge funds have also recently modified their holdings of MDT. Fortitude Family Office LLC acquired a new position in shares of Medtronic during the 4th quarter worth approximately $25,000. Leith Wheeler Investment Counsel Ltd. boosted its stake in shares of Medtronic by 293.0% in the fourth quarter. Leith Wheeler Investment Counsel Ltd. now owns 316,643 shares of the medical technology company’s stock worth $26,000 after acquiring an additional 236,064 shares during the last quarter. MeadowBrook Investment Advisors LLC acquired a new stake in shares of Medtronic in the fourth quarter worth approximately $27,000. Financial Gravity Asset Management Inc. increased its position in shares of Medtronic by 317.0% during the third quarter. Financial Gravity Asset Management Inc. now owns 367 shares of the medical technology company’s stock worth $29,000 after purchasing an additional 279 shares in the last quarter. Finally, Princeton Global Asset Management LLC acquired a new position in Medtronic in the 3rd quarter valued at $31,000. Hedge funds and other institutional investors own 82.06% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on MDT. Oppenheimer increased their target price on shares of Medtronic from $89.00 to $92.00 and gave the company a “market perform” rating in a research report on Wednesday, February 21st. Truist Financial increased their price target on Medtronic from $87.00 to $90.00 and gave the company a “hold” rating in a report on Wednesday, February 21st. Royal Bank of Canada reissued a “sector perform” rating and set a $92.00 price objective on shares of Medtronic in a research note on Wednesday, February 21st. Finally, Mizuho raised their target price on Medtronic from $95.00 to $98.00 and gave the stock a “buy” rating in a research note on Wednesday, February 21st. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat, Medtronic has a consensus rating of “Hold” and a consensus target price of $94.91.

Insider Transactions at Medtronic

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 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 transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other Medtronic news, EVP Michael Marinaro sold 854 shares of the stock in a transaction dated Monday, April 8th. The stock was sold at an average price of $83.14, for a total value of $71,001.56. Following the sale, the executive vice president now 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 Securities & Exchange Commission, which is available through the SEC website. Also, EVP Sean Salmon sold 30,695 shares of the business’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 transaction, the executive vice president now directly owns 48,289 shares of the company’s stock, valued at $4,110,842.57. The disclosure for this sale can be found here. Corporate insiders own 0.30% of the company’s stock.

Medtronic Trading Up 0.1 %

NYSE MDT traded up $0.12 during trading hours on Tuesday, reaching $81.88. The company had a trading volume of 4,939,706 shares, compared to its average volume of 6,184,942. The stock has a 50-day moving average of $83.01 and a 200 day moving average of $81.69. The stock has a market capitalization of $108.72 billion, a P/E ratio of 26.08, a price-to-earnings-growth ratio of 2.66 and a beta of 0.78. Medtronic plc has a 1-year low of $68.84 and a 1-year high of $91.00. 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 (NYSE:MDT) last posted its earnings results on Tuesday, February 20th. The medical technology company reported $1.30 earnings per share for the quarter, beating 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 the consensus estimate of $7.95 billion. During the same quarter last year, the firm earned $1.30 EPS. The firm’s revenue for the quarter was up 4.7% on a year-over-year basis. As a group, research analysts anticipate that Medtronic plc will post 5.2 earnings per share for the current fiscal year.

Medtronic Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, April 12th. Shareholders of record on Friday, March 22nd were paid a dividend of $0.69 per share. The ex-dividend date was Thursday, March 21st. This represents a $2.76 dividend on an annualized basis and a yield of 3.37%. Medtronic’s dividend payout ratio (DPR) 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.