Triad Wealth Partners LLC Purchases Shares of 2,773 Medtronic plc (NYSE:MDT)

Triad Wealth Partners LLC purchased a new stake in Medtronic plc (NYSE:MDT - Free Report) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 2,773 shares of the medical technology company's stock, valued at approximately $221,000.

Several other hedge funds also recently added to or reduced their stakes in MDT. State Street Corp boosted its stake 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 worth $5,509,155,000 after acquiring an additional 520,027 shares in the last quarter. Pzena Investment Management LLC boosted its stake in shares of Medtronic by 3.3% during the 3rd quarter. Pzena Investment Management LLC now owns 8,582,993 shares of the medical technology company's stock worth $772,727,000 after acquiring an additional 275,870 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its stake in shares of Medtronic by 1.7% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 8,002,051 shares of the medical technology company's stock worth $639,204,000 after acquiring an additional 134,647 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in shares of Medtronic by 436.7% during 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 acquiring an additional 5,975,110 shares in the last quarter. Finally, Fisher Asset Management LLC boosted its stake in shares of Medtronic by 3.1% during the 4th quarter. Fisher Asset Management LLC now owns 6,073,565 shares of the medical technology company's stock worth $485,156,000 after acquiring an additional 179,845 shares in the last quarter. 82.06% of the stock is owned by hedge funds and other institutional investors.

Medtronic Stock Up 1.2 %

MDT stock opened at $94.15 on Thursday. The firm has a 50-day moving average of $87.82 and a two-hundred day moving average of $87.68. The company has a market cap of $120.75 billion, a price-to-earnings ratio of 28.62, a PEG ratio of 2.22 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 plc has a 12 month low of $75.96 and a 12 month high of $95.57.

Medtronic (NYSE:MDT - Get Free Report) last announced its quarterly earnings results on Tuesday, February 18th. The medical technology company reported $1.39 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.36 by $0.03. The business had revenue of $8.29 billion during the quarter, compared to the consensus estimate of $8.33 billion. Medtronic had a net margin of 12.83% and a return on equity of 14.07%. As a group, analysts forecast that Medtronic plc will post 5.46 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several research firms have recently issued reports on MDT. Robert W. Baird increased their target price on shares of Medtronic from $90.00 to $91.00 and gave the stock a "neutral" rating in a research note on Wednesday, February 19th. Truist Financial lowered their target price on shares of Medtronic from $93.00 to $89.00 and set a "hold" rating on the stock in a research note on Wednesday, December 18th. Barclays raised their price target on shares of Medtronic from $105.00 to $109.00 and gave the company an "overweight" rating in a research note on Tuesday, November 26th. Citigroup raised shares of Medtronic from a "neutral" rating to a "buy" rating and raised their price target for the company from $92.00 to $107.00 in a research note on Tuesday. Finally, UBS Group raised their price target on shares of Medtronic from $85.00 to $95.00 and gave the company a "neutral" rating in a research note on Wednesday, February 19th. One analyst has rated the stock with a sell rating, eight have issued a hold rating, six have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of "Hold" and a consensus target price of $96.07.

Insider Transactions at Medtronic

In other news, EVP Brett A. Wall sold 12,437 shares of the firm'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 sale, the executive vice president now owns 40,979 shares in the company, valued at $3,688,110. This trade represents a 23.28 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 0.20% of the company's stock.

About Medtronic

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.

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