Medtronic plc (NYSE:MDT) Shares Purchased by Venturi Wealth Management LLC

Venturi Wealth Management LLC increased its holdings in shares of Medtronic plc (NYSE:MDT) by 183.2% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 6,374 shares of the medical technology company’s stock after acquiring an additional 4,123 shares during the period. Venturi Wealth Management LLC’s holdings in Medtronic were worth $509,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. Empower Advisory Group LLC grew its holdings in Medtronic by 5.5% in the fourth quarter. Empower Advisory Group LLC now owns 4,447 shares of the medical technology company’s stock valued at $355,000 after purchasing an additional 231 shares during the last quarter. Truist Financial Corp grew its holdings in Medtronic by 37.1% in the fourth quarter. Truist Financial Corp now owns 1,156,370 shares of the medical technology company’s stock valued at $92,371,000 after purchasing an additional 312,873 shares during the last quarter. CIBC Asset Management Inc grew its holdings in Medtronic by 1.6% in the fourth quarter. CIBC Asset Management Inc now owns 927,239 shares of the medical technology company’s stock valued at $74,068,000 after purchasing an additional 14,502 shares during the last quarter. Evergreen Wealth Management LLC grew its holdings in Medtronic by 2.5% in the fourth quarter. Evergreen Wealth Management LLC now owns 26,865 shares of the medical technology company’s stock valued at $2,146,000 after purchasing an additional 663 shares during the last quarter. Finally, Catalyst Capital Advisors LLC grew its holdings in Medtronic by 1.4% in the fourth quarter. Catalyst Capital Advisors LLC now owns 29,325 shares of the medical technology company’s stock valued at $2,342,000 after purchasing an additional 405 shares during the last quarter. Institutional investors and hedge funds own 82.06% of the company’s stock.

Medtronic Stock Performance

Shares of NYSE:MDT opened at $87.05 on Thursday. The firm has a market capitalization of $111.62 billion, a PE ratio of 26.62, a P/E/G ratio of 2.63 and a beta of 0.84. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.84 and a quick ratio of 1.39. The business has a 50-day moving average of $85.82 and a two-hundred day moving average of $87.02. Medtronic plc has a 12 month low of $75.96 and a 12 month high of $93.08.

Medtronic (NYSE:MDT) last announced its quarterly earnings results on Tuesday, February 18th. The medical technology company reported $1.39 EPS for the quarter, topping the consensus estimate of $1.36 by $0.03. The company had revenue of $8.29 billion during the quarter, compared to analyst estimates of $8.33 billion. Medtronic had a return on equity of 13.79% and a net margin of 13.00%. As a group, research analysts forecast that Medtronic plc will post 5.45 earnings per share for the current year.

Medtronic Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, January 10th. Shareholders of record on Friday, December 27th were paid a dividend of $0.70 per share. The ex-dividend date of this dividend was Friday, December 27th. This represents a $2.80 annualized dividend and a yield of 3.22%. Medtronic’s dividend payout ratio is presently 85.63%.

Insiders Place Their Bets

In other news, EVP Brett A. Wall sold 12,437 shares of the stock in a transaction dated Friday, January 24th. The stock was sold at an average price of $90.00, for a total value of $1,119,330.00. Following the completion of the sale, the executive vice president now owns 40,979 shares in the company, valued at approximately $3,688,110. This trade represents a 23.28 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 0.20% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on MDT shares. Needham & Company LLC reissued a “hold” rating on shares of Medtronic in a report on Wednesday. JPMorgan Chase & Co. reduced their price objective on Medtronic from $99.00 to $96.00 and set a “neutral” rating on the stock in a research report on Friday, November 15th. Robert W. Baird upped their price objective on Medtronic from $90.00 to $91.00 and gave the company a “neutral” rating in a research report on Wednesday. UBS Group upped their price objective on Medtronic from $85.00 to $95.00 and gave the company a “neutral” rating in a research report on Wednesday. Finally, Wells Fargo & Company reduced their price objective on Medtronic from $106.00 to $98.00 and set an “overweight” rating on the stock in a research report on Wednesday, November 20th. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, Medtronic has a consensus rating of “Hold” and a consensus price target of $95.20.

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.