Medtronic plc (NYSE:MDT) Shares Bought by Beacon Harbor Wealth Advisors Inc.

Beacon Harbor Wealth Advisors Inc. grew its holdings in Medtronic plc (NYSE:MDT) by 3.5% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 67,063 shares of the medical technology company’s stock after purchasing an additional 2,287 shares during the period. Medtronic makes up 1.6% of Beacon Harbor Wealth Advisors Inc.’s investment portfolio, making the stock its 29th largest position. Beacon Harbor Wealth Advisors Inc.’s holdings in Medtronic were worth $5,525,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of the business. Morgan Stanley raised its stake in shares of Medtronic by 9.2% in the 3rd quarter. Morgan Stanley now owns 23,777,808 shares of the medical technology company’s stock valued at $1,863,229,000 after acquiring an additional 1,994,123 shares during the period. Bank of New York Mellon Corp lifted its stake in Medtronic by 2.6% during the third quarter. Bank of New York Mellon Corp now owns 20,392,467 shares of the medical technology company’s stock worth $1,597,954,000 after purchasing an additional 508,205 shares in the last quarter. Northern Trust Corp boosted its position in shares of Medtronic by 2.1% during the third quarter. Northern Trust Corp now owns 13,622,933 shares of the medical technology company’s stock worth $1,067,493,000 after buying an additional 285,819 shares during the period. Charles Schwab Investment Management Inc. boosted its position in shares of Medtronic by 0.7% during the third quarter. Charles Schwab Investment Management Inc. now owns 10,988,289 shares of the medical technology company’s stock worth $843,979,000 after buying an additional 79,660 shares during the period. Finally, American Century Companies Inc. grew its stake in shares of Medtronic by 6.7% in the third quarter. American Century Companies Inc. now owns 10,297,135 shares of the medical technology company’s stock valued at $806,883,000 after buying an additional 649,367 shares in the last quarter. 82.06% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Medtronic news, EVP Michael Marinaro sold 854 shares of the company’s stock in a transaction dated 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 approximately $2,321,684.50. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In other news, 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 of the company’s stock, valued at $2,321,684.50. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP Sean Salmon sold 30,695 shares of Medtronic stock in a transaction dated Wednesday, February 21st. The shares were sold at an average price of $85.13, for a total transaction of $2,613,065.35. Following the sale, the executive vice president now owns 48,289 shares in the company, valued at $4,110,842.57. The disclosure for this sale can be found here. 0.30% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on MDT. Truist Financial upped 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 reiterated a “sector perform” rating and set a $92.00 price target on shares of Medtronic in a research note on Wednesday, February 21st. Mizuho raised their price objective on Medtronic from $95.00 to $98.00 and gave the stock a “buy” rating in a report on Wednesday, February 21st. Finally, Oppenheimer raised their price target on Medtronic from $89.00 to $92.00 and gave the stock a “market perform” 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 given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $94.91.

Medtronic Trading Down 0.2 %

Shares of NYSE:MDT traded down $0.20 during trading on Thursday, reaching $80.69. The stock had a trading volume of 3,503,812 shares, compared to its average volume of 6,207,971. Medtronic plc has a fifty-two week low of $68.84 and a fifty-two week high of $92.02. The business has a fifty day moving average price of $83.25 and a 200-day moving average price of $81.37. The stock has a market cap of $107.14 billion, a P/E ratio of 25.80, a PEG ratio of 2.75 and a beta of 0.78. The company has a quick ratio of 1.71, a current ratio of 2.30 and a debt-to-equity ratio of 0.46.

Medtronic (NYSE:MDT) last issued its quarterly earnings results on Tuesday, February 20th. The medical technology company reported $1.30 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.26 by $0.04. The firm had revenue of $8.09 billion for the quarter, compared to analyst estimates of $7.95 billion. Medtronic had a return on equity of 13.71% and a net margin of 13.00%. The firm’s quarterly revenue was up 4.7% on a year-over-year basis. During the same period last year, the company earned $1.30 EPS. As a group, analysts anticipate that Medtronic plc will post 5.2 earnings per share for the current fiscal year.

Medtronic Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, April 12th. Stockholders of record on Friday, March 22nd were given 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 dividend yield of 3.42%. Medtronic’s payout ratio is currently 87.90%.

About Medtronic

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.