Medtronic plc (NYSE:MDT) Stock Position Raised by Seven Mile Advisory

Seven Mile Advisory boosted its position in shares of Medtronic plc (NYSE:MDT) by 14.7% during the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 2,591 shares of the medical technology company’s stock after purchasing an additional 333 shares during the period. Seven Mile Advisory’s holdings in Medtronic were worth $207,000 at the end of the most recent reporting period.

Several other large investors also recently added to or reduced their stakes in MDT. Mainstream Capital Management LLC purchased a new position in Medtronic during the 4th quarter valued at about $26,000. Rakuten Securities Inc. increased its stake in shares of Medtronic by 753.8% during the 4th quarter. Rakuten Securities Inc. now owns 333 shares of the medical technology company’s stock worth $27,000 after purchasing an additional 294 shares during the last quarter. Stephens Consulting LLC increased its position in Medtronic by 145.7% during the fourth quarter. Stephens Consulting LLC now owns 344 shares of the medical technology company’s stock worth $27,000 after buying an additional 204 shares during the last quarter. Fiduciary Advisors Inc. bought a new position in Medtronic during the fourth quarter valued at about $36,000. Finally, Chelsea Counsel Co. acquired a new stake in shares of Medtronic in the third quarter worth about $45,000. 82.06% of the stock is owned by institutional investors and hedge funds.

Medtronic Price Performance

NYSE:MDT opened at $87.62 on Monday. The company has a quick ratio of 1.39, a current ratio of 1.90 and a debt-to-equity ratio of 0.48. The firm has a market cap of $112.38 billion, a PE ratio of 26.63, a price-to-earnings-growth ratio of 2.22 and a beta of 0.80. Medtronic plc has a 12 month low of $75.96 and a 12 month high of $96.25. The company’s 50-day moving average price is $90.98 and its two-hundred day moving average price is $87.99.

Medtronic (NYSE:MDT) last announced its 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. Medtronic had a return on equity of 14.07% and a net margin of 12.83%. The company had revenue of $8.29 billion for the quarter, compared to analysts’ expectations of $8.33 billion. On average, equities analysts anticipate that Medtronic plc will post 5.46 EPS for the current fiscal year.

Medtronic Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, April 11th. Stockholders of record on Friday, March 28th will be paid a $0.70 dividend. This represents a $2.80 dividend on an annualized basis and a dividend yield of 3.20%. The ex-dividend date is Friday, March 28th. Medtronic’s dividend payout ratio (DPR) is currently 85.11%.

Insider Transactions at Medtronic

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

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on MDT. UBS Group raised their price objective on Medtronic from $85.00 to $95.00 and gave the company a “neutral” rating in a research note on Wednesday, February 19th. Truist Financial dropped their price target on shares of Medtronic from $93.00 to $89.00 and set a “hold” rating on the stock in a research report on Wednesday, December 18th. Robert W. Baird raised their target price on shares of Medtronic from $90.00 to $91.00 and gave the company a “neutral” rating in a research note on Wednesday, February 19th. Citigroup raised shares of Medtronic from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $92.00 to $107.00 in a research report on Tuesday, March 4th. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and issued a $105.00 price target on shares of Medtronic in a research report on Wednesday, February 19th. One research analyst has rated the stock with a sell rating, eight have given a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $96.07.

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.