Medtronic plc (NYSE:MDT) Shares Purchased by Apollon Wealth Management LLC

Apollon Wealth Management LLC boosted its stake in Medtronic plc (NYSE:MDT - Free Report) by 43.0% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 50,804 shares of the medical technology company's stock after purchasing an additional 15,265 shares during the quarter. Apollon Wealth Management LLC's holdings in Medtronic were worth $4,185,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also modified their holdings of the company. Brown Advisory Inc. lifted its holdings in Medtronic by 10.9% in the 3rd quarter. Brown Advisory Inc. now owns 287,994 shares of the medical technology company's stock worth $22,567,000 after buying an additional 28,235 shares in the last quarter. Concord Wealth Partners boosted its holdings in shares of Medtronic by 31.0% in the 3rd quarter. Concord Wealth Partners now owns 7,403 shares of the medical technology company's stock valued at $580,000 after buying an additional 1,752 shares during the period. Verdence Capital Advisors LLC lifted its holdings in Medtronic by 16.0% in the third quarter. Verdence Capital Advisors LLC now owns 17,935 shares of the medical technology company's stock worth $1,405,000 after acquiring an additional 2,480 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its stake in Medtronic by 3.6% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 538,108 shares of the medical technology company's stock worth $42,166,000 after buying an additional 18,810 shares during the last quarter. Finally, Mackenzie Financial Corp lifted its stake in Medtronic by 10.0% in the third quarter. Mackenzie Financial Corp now owns 428,242 shares of the medical technology company's stock valued at $32,778,000 after buying an additional 38,788 shares during the last quarter. 82.06% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on MDT. Royal Bank of Canada reissued a "sector perform" rating and issued a $92.00 price objective on shares of Medtronic in a report on Wednesday, February 21st. Mizuho upped their target price on Medtronic from $95.00 to $98.00 and gave the company a "buy" rating in a report on Wednesday, February 21st. Oppenheimer lifted their target price 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. Finally, Truist Financial upped their price target on Medtronic from $87.00 to $90.00 and gave the company a "hold" 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 assigned a buy rating to the company. According to data from MarketBeat.com, Medtronic has an average rating of "Hold" and a consensus target price of $94.91.

Insider Activity at Medtronic

In related news, EVP Sean Salmon sold 30,695 shares of the company's stock in a transaction 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 completion of the transaction, the executive vice president now directly owns 48,289 shares in the company, valued at $4,110,842.57. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, EVP Michael Marinaro sold 854 shares of the business'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 transaction, the executive vice president now owns 27,925 shares in the company, valued at approximately $2,321,684.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Sean Salmon sold 30,695 shares of the stock in a transaction on 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 transaction, the executive vice president now owns 48,289 shares in the company, valued at $4,110,842.57. The disclosure for this sale can be found here. Corporate insiders own 0.30% of the company's stock.

Medtronic Stock Up 0.1 %

NYSE MDT traded up $0.08 during trading on Monday, hitting $81.77. 3,676,129 shares of the company traded hands, compared to its average volume of 6,199,255. Medtronic plc has a 12 month low of $68.84 and a 12 month high of $91.00. The business has a fifty day simple moving average of $83.05 and a 200 day simple moving average of $81.63. The company has a market capitalization of $108.57 billion, a P/E ratio of 26.04, a PEG ratio of 2.66 and a beta of 0.78. 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 (NYSE:MDT - Get Free Report) last announced 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 company had revenue of $8.09 billion for the quarter, compared to the consensus estimate of $7.95 billion. Medtronic had a return on equity of 13.71% and a net margin of 13.00%. The company's revenue for the quarter was up 4.7% compared to the same quarter last year. During the same quarter last year, the company posted $1.30 earnings per share. As a group, sell-side analysts predict that Medtronic plc will post 5.2 EPS for the current year.

Medtronic Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, April 12th. Shareholders of record on Friday, March 22nd were issued a $0.69 dividend. This represents a $2.76 dividend on an annualized basis and a yield of 3.38%. The ex-dividend date was Thursday, March 21st. Medtronic's dividend payout ratio (DPR) is currently 87.90%.

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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