Berry Wealth Group LP Makes New $2.14 Million Investment in Medtronic plc (NYSE:MDT)

Berry Wealth Group LP purchased a new position in shares of Medtronic plc (NYSE:MDT - Free Report) in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 26,012 shares of the medical technology company's stock, valued at approximately $2,143,000. Medtronic comprises about 2.0% of Berry Wealth Group LP's portfolio, making the stock its 21st largest position.

Other large investors have also modified their holdings of the company. Marino Stram & Associates LLC grew its holdings in Medtronic by 1.8% during the fourth quarter. Marino Stram & Associates LLC now owns 7,127 shares of the medical technology company's stock valued at $587,000 after purchasing an additional 126 shares during the period. Modera Wealth Management LLC raised its stake in Medtronic by 3.9% during the 3rd quarter. Modera Wealth Management LLC now owns 3,537 shares of the medical technology company's stock worth $277,000 after buying an additional 133 shares during the period. jvl associates llc lifted its holdings in Medtronic by 3.8% during the fourth quarter. jvl associates llc now owns 3,840 shares of the medical technology company's stock worth $316,000 after acquiring an additional 139 shares in the last quarter. Dfpg Investments LLC grew its stake in Medtronic by 0.3% in the fourth quarter. Dfpg Investments LLC now owns 53,045 shares of the medical technology company's stock valued at $4,413,000 after acquiring an additional 142 shares during the period. Finally, DORCHESTER WEALTH MANAGEMENT Co raised its position in shares of Medtronic by 3.3% during the third quarter. DORCHESTER WEALTH MANAGEMENT Co now owns 4,653 shares of the medical technology company's stock worth $365,000 after purchasing an additional 150 shares during the period. Institutional investors and hedge funds own 82.06% of the company's stock.

Analyst Ratings Changes

Several analysts have commented on MDT shares. Mizuho raised their target price on shares of Medtronic from $95.00 to $98.00 and gave the stock a "buy" rating in a report on Wednesday, February 21st. Truist Financial lifted their price target on Medtronic from $87.00 to $90.00 and gave the company a "hold" rating in a research note on Wednesday, February 21st. Royal Bank of Canada reaffirmed a "sector perform" rating and set a $92.00 price objective on shares of Medtronic in a research report on Wednesday, February 21st. Finally, Oppenheimer lifted their target price on Medtronic from $89.00 to $92.00 and gave the company a "market perform" rating in a research report on Wednesday, February 21st. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and six have given a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of "Hold" and an average target price of $94.91.

Insider Transactions at Medtronic

In related news, EVP Michael Marinaro sold 854 shares of Medtronic 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 transaction, the executive vice president now directly owns 27,925 shares of the company's stock, valued at $2,321,684.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, EVP Michael Marinaro sold 854 shares of the 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 transaction, the executive vice president now owns 27,925 shares of the company's stock, valued at $2,321,684.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Sean Salmon sold 30,695 shares of Medtronic stock in a transaction that occurred on Wednesday, February 21st. The shares were sold at an average price of $85.13, for a total transaction of $2,613,065.35. Following the sale, the executive vice president now directly owns 48,289 shares in the company, valued at $4,110,842.57. The disclosure for this sale can be found here. 0.30% of the stock is currently owned by insiders.

Medtronic Stock Performance

MDT traded up $0.65 during trading on Wednesday, hitting $80.89. The stock had a trading volume of 5,366,074 shares, compared to its average volume of 6,240,672. The company has a debt-to-equity ratio of 0.46, a current ratio of 2.30 and a quick ratio of 1.71. The firm has a market cap of $107.41 billion, a price-to-earnings ratio of 25.76, a P/E/G ratio of 2.77 and a beta of 0.76. The company has a 50 day moving average price of $83.35 and a 200-day moving average price of $81.38. Medtronic plc has a one year low of $68.84 and a one year high of $92.02.

Medtronic (NYSE:MDT - Get Free Report) last released its quarterly earnings results on Tuesday, February 20th. The medical technology company reported $1.30 EPS for the quarter, beating the consensus estimate 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 was up 4.7% compared to the same quarter last year. During the same period in the prior year, the company posted $1.30 earnings per share. As a group, research analysts predict that Medtronic plc will post 5.2 EPS for the current year.

Medtronic Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, April 12th. Stockholders of record on Friday, March 22nd were given a $0.69 dividend. This represents a $2.76 annualized dividend and a dividend yield of 3.41%. The ex-dividend date of this dividend was Thursday, March 21st. Medtronic's payout ratio is presently 87.90%.

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.