HTLF Bank Takes Position in Medtronic plc (NYSE:MDT)

HTLF Bank purchased a new stake in Medtronic plc (NYSE:MDT - Free Report) in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 63,285 shares of the medical technology company's stock, valued at approximately $5,213,000.

Other large investors have also made changes to their positions in the company. Colton Groome Financial Advisors LLC lifted its stake in Medtronic by 28.0% during the fourth quarter. Colton Groome Financial Advisors LLC now owns 16,202 shares of the medical technology company's stock worth $1,335,000 after purchasing an additional 3,546 shares in the last quarter. Xponance Inc. raised its stake in shares of Medtronic by 6.4% in the fourth quarter. Xponance Inc. now owns 174,712 shares of the medical technology company's stock valued at $14,393,000 after acquiring an additional 10,461 shares in the last quarter. Peterson Wealth Services acquired a new stake in shares of Medtronic in the fourth quarter valued at $1,227,000. Daiwa Securities Group Inc. raised its stake in shares of Medtronic by 8.1% in the fourth quarter. Daiwa Securities Group Inc. now owns 123,018 shares of the medical technology company's stock valued at $10,135,000 after acquiring an additional 9,245 shares in the last quarter. Finally, Telos Capital Management Inc. raised its stake in shares of Medtronic by 1.7% in the fourth quarter. Telos Capital Management Inc. now owns 120,184 shares of the medical technology company's stock valued at $9,901,000 after acquiring an additional 1,993 shares in the last quarter. 82.06% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Medtronic

In related news, EVP Michael Marinaro sold 854 shares of the firm's stock in a transaction dated Monday, April 8th. The shares were sold at an average price of $83.14, for a total value of $71,001.56. Following the completion of the sale, the executive vice president now owns 27,925 shares in the company, valued at $2,321,684.50. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. In related news, EVP Sean Salmon sold 30,695 shares of the company's stock in a transaction that occurred on Wednesday, February 21st. The stock was sold at an average price of $85.13, for a total value of $2,613,065.35. Following the sale, the executive vice president now owns 48,289 shares of the company's stock, valued at approximately $4,110,842.57. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, EVP Michael Marinaro sold 854 shares of the company's stock in a transaction that occurred on Monday, April 8th. The shares were sold at an average price of $83.14, for a total value of $71,001.56. Following the completion of the sale, the executive vice president now directly 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 insiders.

Medtronic Stock Performance

Shares of NYSE MDT traded up $0.31 during midday trading on Friday, reaching $79.50. 6,756,866 shares of the company were exchanged, compared to its average volume of 6,320,910. The company has a current ratio of 2.30, a quick ratio of 1.71 and a debt-to-equity ratio of 0.46. Medtronic plc has a 1 year low of $68.84 and a 1 year high of $92.02. The stock has a fifty day simple moving average of $83.93 and a 200 day simple moving average of $81.01. The stock has a market cap of $105.56 billion, a P/E ratio of 25.32, a PEG ratio of 2.71 and a beta of 0.76.

Medtronic (NYSE:MDT - Get Free Report) last released its quarterly earnings results on Tuesday, February 20th. The medical technology company reported $1.30 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.26 by $0.04. Medtronic had a return on equity of 13.71% and a net margin of 13.00%. The firm had revenue of $8.09 billion for the quarter, compared to analyst estimates of $7.95 billion. During the same quarter last year, the company posted $1.30 earnings per share. The business's revenue was up 4.7% on a year-over-year basis. On average, research analysts forecast that Medtronic plc will post 5.2 earnings per share for the current fiscal year.

Medtronic Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, April 12th. Investors of record on Friday, March 22nd were given a $0.69 dividend. The ex-dividend date was Thursday, March 21st. This represents a $2.76 dividend on an annualized basis and a yield of 3.47%. Medtronic's payout ratio is currently 87.90%.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on MDT shares. Truist Financial increased their price objective on Medtronic from $87.00 to $90.00 and gave the company a "hold" rating in a research note on Wednesday, February 21st. Mizuho raised their price target on Medtronic from $95.00 to $98.00 and gave the company a "buy" rating in a research note on Wednesday, February 21st. Royal Bank of Canada restated a "sector perform" rating and issued a $92.00 price target on shares of Medtronic in a research note on Wednesday, February 21st. Finally, Oppenheimer raised their price target on Medtronic from $89.00 to $92.00 and gave the company a "market perform" rating 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 seven have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $94.91.

Medtronic Company 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.