Colton Groome Financial Advisors LLC Increases Stake in Medtronic plc (NYSE:MDT)

Colton Groome Financial Advisors LLC boosted its stake in Medtronic plc (NYSE:MDT) by 28.0% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 16,202 shares of the medical technology company’s stock after purchasing an additional 3,546 shares during the period. Colton Groome Financial Advisors LLC’s holdings in Medtronic were worth $1,335,000 at the end of the most recent reporting period.

A number of other large investors have also bought and sold shares of the stock. Morgan Stanley grew its position 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 worth $1,863,229,000 after buying an additional 1,994,123 shares during the last quarter. Bank of New York Mellon Corp grew its position in shares of Medtronic by 2.6% in the 3rd 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 buying an additional 508,205 shares during the last quarter. Moneta Group Investment Advisors LLC grew its position in shares of Medtronic by 127,655.1% in the 4th quarter. Moneta Group Investment Advisors LLC now owns 14,160,371 shares of the medical technology company’s stock worth $1,100,544,000 after buying an additional 14,149,287 shares during the last quarter. Norges Bank bought a new stake in shares of Medtronic in the 4th quarter worth approximately $1,062,316,000. Finally, Northern Trust Corp grew its position in shares of Medtronic by 2.1% in the 3rd 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 last quarter. 82.06% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

MDT has been the topic of a number of recent analyst reports. Truist Financial lifted their price objective on Medtronic from $87.00 to $90.00 and gave the stock a “hold” rating in a research report on Wednesday, February 21st. Oppenheimer lifted their price target 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 target 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 restated a “sector perform” rating and set a $92.00 price target on shares of Medtronic in a research report on Wednesday, February 21st. One investment analyst has rated the stock with a sell rating, four have given a hold rating and seven have assigned a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $94.91.

Medtronic Stock Up 0.1 %

Medtronic stock traded up $0.11 during mid-day trading on Thursday, hitting $79.19. The company had a trading volume of 6,063,267 shares, compared to its average volume of 6,315,096. The company has a current ratio of 2.30, a quick ratio of 1.71 and a debt-to-equity ratio of 0.46. The stock’s 50 day moving average price is $84.18 and its two-hundred day moving average price is $81.01. Medtronic plc has a 12 month low of $68.84 and a 12 month high of $92.02. The company has a market capitalization of $105.15 billion, a PE ratio of 25.18, a price-to-earnings-growth ratio of 2.71 and a beta of 0.76.

Medtronic (NYSE:MDT) last released its earnings results on Tuesday, February 20th. The medical technology company reported $1.30 EPS for the quarter, topping the consensus estimate of $1.26 by $0.04. Medtronic had a return on equity of 13.71% and a net margin of 13.00%. The business had revenue of $8.09 billion for the quarter, compared to the consensus estimate of $7.95 billion. During the same period in the previous year, the company posted $1.30 earnings per share. The company’s revenue for the quarter was up 4.7% compared to the same quarter last year. As a group, sell-side 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. Stockholders of record on Friday, March 22nd were paid a $0.69 dividend. This represents a $2.76 annualized dividend and a dividend yield of 3.49%. The ex-dividend date of this dividend was Thursday, March 21st. Medtronic’s dividend payout ratio is currently 87.90%.

Insider Transactions at Medtronic

In other news, EVP Michael Marinaro sold 854 shares of the business’s 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, EVP Michael Marinaro sold 854 shares of the business’s 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, 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 owns 48,289 shares of the company’s stock, valued at approximately $4,110,842.57. The disclosure for this sale can be found here. Company insiders own 0.30% of the company’s stock.

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.