Medtronic plc (NYSE:MDT) Shares Acquired by Franklin Parlapiano Turner & Welch LLC

Franklin Parlapiano Turner & Welch LLC lifted its holdings in shares of Medtronic plc (NYSE:MDT) by 4.0% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm owned 83,168 shares of the medical technology company’s stock after buying an additional 3,179 shares during the period. Medtronic makes up approximately 2.0% of Franklin Parlapiano Turner & Welch LLC’s holdings, making the stock its 24th largest position. Franklin Parlapiano Turner & Welch LLC’s holdings in Medtronic were worth $6,851,000 as of its most recent filing with the SEC.

Other hedge funds have also made changes to their positions in the company. Hartford Financial Management Inc. lifted its position in Medtronic by 425.0% in the third quarter. Hartford Financial Management Inc. now owns 315 shares of the medical technology company’s stock valued at $25,000 after purchasing an additional 255 shares during the period. Fortitude Family Office LLC acquired a new stake in Medtronic in the fourth quarter valued at about $25,000. Leith Wheeler Investment Counsel Ltd. lifted its position in Medtronic by 293.0% in the fourth quarter. Leith Wheeler Investment Counsel Ltd. now owns 316,643 shares of the medical technology company’s stock valued at $26,000 after purchasing an additional 236,064 shares during the period. Financial Gravity Asset Management Inc. lifted its position in Medtronic by 317.0% in the third quarter. Financial Gravity Asset Management Inc. now owns 367 shares of the medical technology company’s stock valued at $29,000 after purchasing an additional 279 shares during the period. Finally, Princeton Global Asset Management LLC acquired a new stake in Medtronic in the third quarter valued at about $31,000. Institutional investors and hedge funds own 82.06% of the company’s stock.

Medtronic Stock Down 0.2 %

MDT stock opened at $82.16 on Friday. The stock has a market capitalization of $109.09 billion, a P/E ratio of 26.17, a PEG ratio of 2.82 and a beta of 0.76. The company has a debt-to-equity ratio of 0.46, a quick ratio of 1.71 and a current ratio of 2.30. Medtronic plc has a one year low of $68.84 and a one year high of $92.02. The company has a 50 day moving average price of $84.80 and a two-hundred day moving average price of $80.97.

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. The firm had revenue of $8.09 billion during the quarter, compared to analysts’ expectations of $7.95 billion. Medtronic had a net margin of 13.00% and a return on equity of 13.71%. Medtronic’s revenue for the quarter was up 4.7% on a year-over-year basis. During the same period in the previous year, the company earned $1.30 EPS. As a group, sell-side analysts expect that Medtronic plc will post 5.2 EPS for the current year.

Medtronic Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, April 12th. Shareholders of record on Friday, March 22nd will be issued a $0.69 dividend. The ex-dividend date of this dividend is Thursday, March 21st. This represents a $2.76 dividend on an annualized basis and a dividend yield of 3.36%. Medtronic’s dividend payout ratio (DPR) is presently 87.90%.

Wall Street Analyst Weigh In

MDT has been the subject of a number of research analyst reports. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $92.00 target price on shares of Medtronic in a report on Wednesday, February 21st. Mizuho increased their target price on shares of Medtronic from $95.00 to $98.00 and gave the company a “buy” rating in a report on Wednesday, February 21st. Truist Financial increased their target price on shares of Medtronic from $87.00 to $90.00 and gave the company a “hold” rating in a report on Wednesday, February 21st. Finally, 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 report on Wednesday, February 21st. One equities research 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, Medtronic presently has a consensus rating of “Moderate Buy” and a consensus price target of $94.91.

Insider Buying and Selling at Medtronic

In other Medtronic 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 transaction, the executive vice president now owns 48,289 shares in the company, valued at approximately $4,110,842.57. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other Medtronic 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 transaction, the executive vice president now owns 48,289 shares in the company, valued at approximately $4,110,842.57. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, 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 transaction of $71,001.56. Following the transaction, the executive vice president now owns 27,925 shares in the company, valued at approximately $2,321,684.50. The disclosure for this sale can be found here. 0.30% of the stock is owned by company insiders.

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.