Atria Wealth Solutions Inc. Boosts Stake in Medtronic plc (NYSE:MDT)

Atria Wealth Solutions Inc. lifted its stake in shares of Medtronic plc (NYSE:MDT) by 5.7% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 87,349 shares of the medical technology company’s stock after purchasing an additional 4,672 shares during the period. Atria Wealth Solutions Inc.’s holdings in Medtronic were worth $7,238,000 as of its most recent filing with the SEC.

Several other large investors have also modified their holdings of MDT. Morgan Stanley lifted its holdings in Medtronic by 9.2% in the third quarter. Morgan Stanley now owns 23,777,808 shares of the medical technology company’s stock worth $1,863,229,000 after acquiring an additional 1,994,123 shares during the last quarter. Bank of New York Mellon Corp increased its stake in shares of Medtronic by 2.6% in the third quarter. Bank of New York Mellon Corp now owns 20,392,467 shares of the medical technology company’s stock valued at $1,597,954,000 after purchasing an additional 508,205 shares during the period. Northern Trust Corp increased its stake in shares of Medtronic by 2.1% in the third quarter. Northern Trust Corp now owns 13,622,933 shares of the medical technology company’s stock valued at $1,067,493,000 after purchasing an additional 285,819 shares during the period. Charles Schwab Investment Management Inc. increased its stake in shares of Medtronic by 0.7% in the third quarter. Charles Schwab Investment Management Inc. now owns 10,988,289 shares of the medical technology company’s stock valued at $843,979,000 after purchasing an additional 79,660 shares during the period. Finally, American Century Companies Inc. increased 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 purchasing an additional 649,367 shares during the period. Institutional investors own 82.06% of the company’s stock.

Medtronic Stock Down 0.2 %

Shares of Medtronic stock traded down $0.18 during midday trading on Friday, reaching $79.07. 227,652 shares of the company’s stock traded hands, compared to its average volume of 6,191,018. The company has a market cap of $104.99 billion, a price-to-earnings ratio of 25.41, a price-to-earnings-growth ratio of 2.75 and a beta of 0.76. The company’s 50 day simple moving average is $83.62 and its 200 day simple moving average is $81.12. 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 52 week low of $68.84 and a 52 week high of $92.02.

Medtronic (NYSE:MDT) last released its quarterly earnings results 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. The business had revenue of $8.09 billion for the quarter, compared to the consensus estimate 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 quarter last year, the firm earned $1.30 EPS. Equities analysts expect that Medtronic plc will post 5.2 earnings per share for the current fiscal year.

Medtronic Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, April 12th. Investors of record on Friday, March 22nd were issued a $0.69 dividend. The ex-dividend date of this dividend was Thursday, March 21st. This represents a $2.76 annualized dividend and a yield of 3.49%. Medtronic’s dividend payout ratio (DPR) is presently 87.90%.

Insider Buying and Selling

In other news, EVP Michael Marinaro sold 854 shares of the business’s stock in a transaction dated 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 transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other news, EVP Michael Marinaro sold 854 shares of the business’s stock in a transaction dated 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 transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, EVP Sean Salmon sold 30,695 shares of the business’s stock in a transaction dated Wednesday, February 21st. The stock was sold at an average price of $85.13, for a total transaction 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 disclosure for this sale can be found here. Insiders own 0.30% of the company’s stock.

Analyst Ratings Changes

A number of research analysts recently commented on MDT shares. Oppenheimer raised their price objective on shares of Medtronic from $89.00 to $92.00 and gave the company a “market perform” rating in a research note on Wednesday, February 21st. Mizuho raised their price objective on shares of Medtronic from $95.00 to $98.00 and gave the stock a “buy” rating in a research note on Wednesday, February 21st. Truist Financial raised their price objective on shares of Medtronic from $87.00 to $90.00 and gave the stock a “hold” rating in a research note on Wednesday, February 21st. Finally, Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $92.00 price objective on shares of Medtronic in a research note on Wednesday, February 21st. One analyst has rated the stock with a sell rating, four have assigned a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat, Medtronic currently has a consensus rating of “Hold” and a consensus target price of $94.91.

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.