Venturi Wealth Management LLC Boosts Stake in Medtronic plc (NYSE:MDT)

Venturi Wealth Management LLC raised its holdings in shares of Medtronic plc (NYSE:MDT - Free Report) by 183.2% during the fourth quarter, according to its most recent filing with the SEC. The firm owned 6,374 shares of the medical technology company's stock after purchasing an additional 4,123 shares during the period. Venturi Wealth Management LLC's holdings in Medtronic were worth $509,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of the stock. State Street Corp lifted its holdings in shares of Medtronic by 0.9% during the 3rd quarter. State Street Corp now owns 60,731,367 shares of the medical technology company's stock valued at $5,509,155,000 after purchasing an additional 520,027 shares during the last quarter. Pzena Investment Management LLC lifted its stake in Medtronic by 3.3% in the 3rd quarter. Pzena Investment Management LLC now owns 8,582,993 shares of the medical technology company's stock valued at $772,727,000 after buying an additional 275,870 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in Medtronic by 436.7% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 7,343,385 shares of the medical technology company's stock worth $661,125,000 after buying an additional 5,975,110 shares during the last quarter. Fisher Asset Management LLC raised its holdings in shares of Medtronic by 11.5% during the third quarter. Fisher Asset Management LLC now owns 5,893,720 shares of the medical technology company's stock valued at $530,612,000 after acquiring an additional 609,391 shares during the last quarter. Finally, Stifel Financial Corp lifted its position in shares of Medtronic by 2.9% in the third quarter. Stifel Financial Corp now owns 5,842,020 shares of the medical technology company's stock valued at $525,960,000 after acquiring an additional 164,700 shares in the last quarter. Hedge funds and other institutional investors own 82.06% of the company's stock.

Wall Street Analysts Forecast Growth

MDT has been the subject of several recent research reports. Truist Financial reduced their price objective on Medtronic from $93.00 to $89.00 and set a "hold" rating for the company in a research note on Wednesday, December 18th. Royal Bank of Canada reiterated an "outperform" rating and issued a $105.00 target price on shares of Medtronic in a research report on Wednesday. Barclays boosted their price target on shares of Medtronic from $105.00 to $109.00 and gave the stock an "overweight" rating in a research report on Tuesday, November 26th. Sanford C. Bernstein increased their price objective on shares of Medtronic from $96.00 to $97.00 and gave the company an "outperform" rating in a report on Wednesday, November 20th. Finally, JPMorgan Chase & Co. lowered their target price on Medtronic from $99.00 to $96.00 and set a "neutral" rating on the stock in a report on Friday, November 15th. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of "Hold" and a consensus price target of $95.20.

Medtronic Trading Up 2.1 %

Medtronic stock traded up $1.86 during trading on Friday, hitting $89.80. The company had a trading volume of 5,925,002 shares, compared to its average volume of 7,428,125. Medtronic plc has a 1-year low of $75.96 and a 1-year high of $93.08. The company's 50 day simple moving average is $85.93 and its 200-day simple moving average is $87.03. The stock has a market cap of $115.15 billion, a price-to-earnings ratio of 27.30, a price-to-earnings-growth ratio of 2.46 and a beta of 0.84. The company has a current ratio of 1.90, a quick ratio of 1.39 and a debt-to-equity ratio of 0.48.

Medtronic (NYSE:MDT - Get Free Report) last posted its earnings results on Tuesday, February 18th. The medical technology company reported $1.39 earnings per share (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 firm had revenue of $8.29 billion for the quarter, compared to analyst estimates of $8.33 billion. As a group, analysts expect that Medtronic plc will post 5.46 EPS for the current fiscal year.

Medtronic Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, January 10th. Stockholders of record on Friday, December 27th were paid a dividend of $0.70 per share. This represents a $2.80 annualized dividend and a dividend yield of 3.12%. The ex-dividend date of this dividend was Friday, December 27th. Medtronic's dividend payout ratio (DPR) is presently 85.11%.

Insider Activity at Medtronic

In other Medtronic news, EVP Brett A. Wall sold 12,437 shares of the business's stock in a transaction that occurred on Friday, January 24th. The stock was sold at an average price of $90.00, for a total transaction of $1,119,330.00. Following 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 position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. 0.20% of the stock is currently owned by 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.