Frazier Financial Advisors LLC Buys Shares of 534 Medtronic plc (NYSE:MDT)

Frazier Financial Advisors LLC bought a new stake in shares of Medtronic plc (NYSE:MDT) during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund bought 534 shares of the medical technology company’s stock, valued at approximately $44,000.

Several other hedge funds have also recently added to or reduced their stakes in the business. Signaturefd LLC increased its position in shares of Medtronic by 7.3% during the 3rd quarter. Signaturefd LLC now owns 15,600 shares of the medical technology company’s stock valued at $1,222,000 after purchasing an additional 1,061 shares during the period. Aspire Private Capital LLC increased its position in shares of Medtronic by 22.1% during the 3rd quarter. Aspire Private Capital LLC now owns 1,590 shares of the medical technology company’s stock valued at $125,000 after purchasing an additional 288 shares during the period. Regent Peak Wealth Advisors LLC increased its position in shares of Medtronic by 1.5% during the 3rd quarter. Regent Peak Wealth Advisors LLC now owns 25,287 shares of the medical technology company’s stock valued at $1,981,000 after purchasing an additional 370 shares during the period. NBC Securities Inc. acquired a new position in shares of Medtronic in the 3rd quarter worth $3,128,000. Finally, Pinnacle Financial Partners Inc grew its holdings in shares of Medtronic by 0.8% in the 3rd quarter. Pinnacle Financial Partners Inc now owns 288,804 shares of the medical technology company’s stock worth $22,631,000 after acquiring an additional 2,335 shares during the last quarter. Institutional investors own 82.06% of the company’s stock.

Insider Activity at Medtronic

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 transaction of $71,001.56. Following the completion of the transaction, the executive vice president now owns 27,925 shares in the company, valued at approximately $2,321,684.50. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 0.30% of the stock is owned by corporate insiders.

Medtronic Trading Down 3.8 %

NYSE:MDT traded down $3.26 during trading hours on Thursday, hitting $82.50. 5,018,642 shares of the stock were exchanged, compared to its average volume of 6,100,538. The company’s 50 day moving average is $82.90 and its two-hundred day moving average is $82.62. The company has a quick ratio of 1.71, a current ratio of 2.30 and a debt-to-equity ratio of 0.46. The company has a market capitalization of $109.55 billion, a P/E ratio of 26.66, a price-to-earnings-growth ratio of 2.78 and a beta of 0.78. Medtronic plc has a twelve month low of $68.84 and a twelve month high of $91.00.

Medtronic (NYSE:MDT) last posted its quarterly earnings results on Thursday, May 23rd. The medical technology company reported $1.46 earnings per share for the quarter, beating analysts’ consensus estimates of $1.45 by $0.01. The company had revenue of $8.59 billion for the quarter, compared to the consensus estimate of $8.44 billion. Medtronic had a return on equity of 13.71% and a net margin of 13.00%. The firm’s quarterly revenue was up .5% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.57 EPS. On average, sell-side analysts anticipate that Medtronic plc will post 5.2 earnings per share for the current fiscal year.

Medtronic Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, July 12th. Investors of record on Friday, June 28th will be given a $0.70 dividend. This represents a $2.80 dividend on an annualized basis and a dividend yield of 3.39%. This is a boost from Medtronic’s previous quarterly dividend of $0.69. Medtronic’s dividend payout ratio is currently 87.90%.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on the company. Truist Financial lifted 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. Oppenheimer lifted their price objective on Medtronic from $89.00 to $92.00 and gave the company a “market perform” rating in a research report on Wednesday, February 21st. Mizuho lifted their price objective on Medtronic from $95.00 to $98.00 and gave the company a “buy” rating in a research report on Wednesday, February 21st. Finally, Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $92.00 price target 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 given a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price 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.