Vance Wealth Inc. Has $6.30 Million Stake in Medtronic plc (NYSE:MDT)

Vance Wealth Inc. lifted its stake in Medtronic plc (NYSE:MDT - Free Report) by 34.2% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 76,418 shares of the medical technology company's stock after buying an additional 19,473 shares during the period. Medtronic comprises 2.7% of Vance Wealth Inc.'s portfolio, making the stock its 7th biggest holding. Vance Wealth Inc.'s holdings in Medtronic were worth $6,295,000 as of its most recent filing with the SEC.

Several other hedge funds have also made changes to their positions in MDT. Connecticut Wealth Management LLC lifted its stake in Medtronic by 52.0% during the third quarter. Connecticut Wealth Management LLC now owns 3,813 shares of the medical technology company's stock worth $299,000 after purchasing an additional 1,305 shares during the period. Ropes Wealth Advisors LLC increased its holdings in shares of Medtronic by 21.4% during the third quarter. Ropes Wealth Advisors LLC now owns 7,205 shares of the medical technology company's stock worth $565,000 after buying an additional 1,269 shares in the last quarter. U.S. Capital Wealth Advisors LLC increased its holdings in shares of Medtronic by 17.7% during the third quarter. U.S. Capital Wealth Advisors LLC now owns 64,496 shares of the medical technology company's stock worth $5,054,000 after buying an additional 9,694 shares in the last quarter. Valeo Financial Advisors LLC increased its holdings in shares of Medtronic by 5.7% during the third quarter. Valeo Financial Advisors LLC now owns 23,604 shares of the medical technology company's stock worth $1,850,000 after buying an additional 1,278 shares in the last quarter. Finally, Manning & Napier Group LLC increased its holdings in shares of Medtronic by 0.3% during the third quarter. Manning & Napier Group LLC now owns 2,319,830 shares of the medical technology company's stock worth $181,782,000 after buying an additional 6,497 shares in the last quarter. Institutional investors own 82.06% of the company's stock.

Medtronic Stock Up 0.6 %

MDT stock traded up $0.49 during midday trading on Friday, hitting $79.74. The company's stock had a trading volume of 5,024,880 shares, compared to its average volume of 5,781,218. The company has a debt-to-equity ratio of 0.46, a current ratio of 2.30 and a quick ratio of 1.71. Medtronic plc has a twelve month low of $68.84 and a twelve month high of $92.02. The company's fifty day moving average price is $83.53 and its 200 day moving average price is $81.25. The stock has a market capitalization of $105.88 billion, a P/E ratio of 25.39, a PEG ratio of 2.73 and a beta of 0.76.

Medtronic (NYSE:MDT - Get Free Report) last released its quarterly earnings data on Tuesday, February 20th. The medical technology company reported $1.30 earnings per share for the quarter, topping the consensus estimate of $1.26 by $0.04. The company had revenue of $8.09 billion for the quarter, compared to analyst estimates 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% compared to the same quarter last year. During the same period in the previous year, the business earned $1.30 EPS. As a group, equities research analysts predict that Medtronic plc will post 5.2 EPS for the current year.

Medtronic Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, April 12th. Investors of record on Friday, March 22nd were paid 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 3.46%. Medtronic's dividend payout ratio (DPR) is currently 87.90%.

Insider Activity at Medtronic

In other Medtronic news, EVP Sean Salmon sold 30,695 shares of the business's stock in a transaction dated 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 completion of 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 legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Medtronic news, EVP Sean Salmon sold 30,695 shares of the business's stock in a transaction dated 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 completion of 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 legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Michael Marinaro sold 854 shares of the company's stock in a transaction that occurred on Monday, April 8th. The stock was sold at an average price of $83.14, for a total transaction of $71,001.56. Following the sale, the executive vice president now directly owns 27,925 shares of the company's stock, 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.

Analyst Ratings Changes

A number of analysts recently weighed in on the stock. Truist Financial raised their price target on shares of Medtronic from $87.00 to $90.00 and gave the company a "hold" rating in a report on Wednesday, February 21st. Royal Bank of Canada reissued a "sector perform" rating and set a $92.00 price target on shares of Medtronic in a research report on Wednesday, February 21st. Mizuho lifted their price target on shares of Medtronic from $95.00 to $98.00 and gave the stock a "buy" rating in a research report on Wednesday, February 21st. Finally, Oppenheimer lifted their price target on shares of Medtronic from $89.00 to $92.00 and gave the stock a "market perform" rating in a research report on Wednesday, February 21st. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and six have issued a buy rating to the company's stock. According to MarketBeat.com, Medtronic has a consensus rating of "Hold" and a consensus price target 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.