Bogart Wealth LLC Trims Stock Position in Medtronic plc (NYSE:MDT)

Bogart Wealth LLC decreased its position in Medtronic plc (NYSE:MDT) by 1.0% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 62,224 shares of the medical technology company’s stock after selling 649 shares during the period. Bogart Wealth LLC’s holdings in Medtronic were worth $5,126,000 at the end of the most recent quarter.

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

Insider Buying and Selling

In other Medtronic news, EVP Michael Marinaro sold 854 shares of Medtronic 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 of the company’s stock, valued at $2,321,684.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, EVP Sean Salmon sold 30,695 shares of Medtronic 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Michael Marinaro sold 854 shares of the business’s 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 sale, the executive vice president now directly owns 27,925 shares of the company’s stock, valued at approximately $2,321,684.50. The disclosure for this sale can be found here. 0.30% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

A number of equities analysts have commented on the stock. Royal Bank of Canada reiterated a “sector perform” rating and issued a $92.00 target price on shares of Medtronic in a report on Wednesday, February 21st. 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. Mizuho lifted their price target on shares of Medtronic from $95.00 to $98.00 and gave the stock a “buy” rating in a report on Wednesday, February 21st. Finally, Truist Financial raised 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. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $94.91.

Medtronic Stock Performance

NYSE MDT traded down $0.34 on Wednesday, reaching $81.56. 4,175,553 shares of the company’s stock traded hands, compared to its average volume of 6,162,365. Medtronic plc has a fifty-two week low of $68.84 and a fifty-two week high of $91.00. The company has a debt-to-equity ratio of 0.46, a quick ratio of 1.71 and a current ratio of 2.30. The firm has a market cap of $108.29 billion, a price-to-earnings ratio of 25.97, a P/E/G ratio of 2.66 and a beta of 0.78. The stock has a 50 day moving average price of $83.01 and a 200-day moving average price of $81.69.

Medtronic (NYSE:MDT) last released its quarterly earnings data on Tuesday, February 20th. The medical technology company reported $1.30 earnings per share for the quarter, beating analysts’ consensus estimates 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 during the quarter, compared to analyst estimates of $7.95 billion. During the same quarter last year, the business posted $1.30 EPS. The company’s revenue was up 4.7% on a year-over-year basis. Equities research analysts predict that Medtronic plc will post 5.2 EPS for the current fiscal year.

Medtronic Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, April 12th. Investors of record on Friday, March 22nd were paid a $0.69 dividend. This represents a $2.76 annualized dividend and a dividend yield of 3.38%. The ex-dividend date was Thursday, March 21st. Medtronic’s dividend payout ratio is currently 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.