Vestmark Advisory Solutions Inc. Has $352,000 Stock Holdings in Medtronic plc (NYSE:MDT)

Vestmark Advisory Solutions Inc. lifted its position in Medtronic plc (NYSE:MDT) by 33.1% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,408 shares of the medical technology company’s stock after acquiring an additional 1,095 shares during the quarter. Vestmark Advisory Solutions Inc.’s holdings in Medtronic were worth $352,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in the company. Carmel Capital Partners LLC grew its stake in shares of Medtronic by 12.6% in the 4th quarter. Carmel Capital Partners LLC now owns 3,570 shares of the medical technology company’s stock worth $285,000 after acquiring an additional 400 shares in the last quarter. Raymond James Financial Inc. bought a new stake in shares of Medtronic in the 4th quarter worth $852,732,000. Arizona State Retirement System grew its stake in shares of Medtronic by 0.8% in the 4th quarter. Arizona State Retirement System now owns 370,464 shares of the medical technology company’s stock worth $29,593,000 after acquiring an additional 2,805 shares in the last quarter. Verdence Capital Advisors LLC grew its stake in shares of Medtronic by 16.5% in the 4th quarter. Verdence Capital Advisors LLC now owns 11,223 shares of the medical technology company’s stock worth $897,000 after acquiring an additional 1,592 shares in the last quarter. Finally, Sound Financial Strategies Group LLC grew its stake in shares of Medtronic by 15.1% in the 4th quarter. Sound Financial Strategies Group LLC now owns 10,367 shares of the medical technology company’s stock worth $828,000 after acquiring an additional 1,360 shares in the last quarter. Institutional investors own 82.06% of the company’s stock.

Insider Transactions at Medtronic

In other news, EVP Brett A. Wall sold 12,437 shares of the stock in a transaction dated Friday, January 24th. The shares were sold at an average price of $90.00, for a total value of $1,119,330.00. Following the sale, the executive vice president now directly owns 40,979 shares of the company’s stock, valued at approximately $3,688,110. This represents a 23.28 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders own 0.20% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on MDT. Wells Fargo & Company reduced their target price on shares of Medtronic from $106.00 to $98.00 and set an “overweight” rating for the company in a research note on Wednesday, November 20th. Royal Bank of Canada restated an “outperform” rating and set a $105.00 price target on shares of Medtronic in a research report on Wednesday, February 19th. Citigroup upgraded shares of Medtronic from a “neutral” rating to a “buy” rating and increased their price target for the company from $92.00 to $107.00 in a research report on Tuesday, March 4th. JPMorgan Chase & Co. reduced their price target on shares of Medtronic from $99.00 to $96.00 and set a “neutral” rating for the company in a research report on Friday, November 15th. Finally, Truist Financial reduced their price target on shares of Medtronic from $93.00 to $89.00 and set a “hold” rating for the company in a research report on Wednesday, December 18th. 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 given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $96.07.

Medtronic Price Performance

Shares of NYSE:MDT opened at $94.58 on Friday. The company has a quick ratio of 1.39, a current ratio of 1.90 and a debt-to-equity ratio of 0.48. The firm has a market capitalization of $121.30 billion, a PE ratio of 28.75, a P/E/G ratio of 2.22 and a beta of 0.80. Medtronic plc has a twelve month low of $75.96 and a twelve month high of $95.57. The company has a 50-day moving average price of $88.33 and a two-hundred day moving average price of $87.80.

Medtronic (NYSE:MDT) last issued its earnings results on Tuesday, February 18th. The medical technology company reported $1.39 earnings per share for the quarter, topping analysts’ consensus estimates of $1.36 by $0.03. Medtronic had a net margin of 12.83% and a return on equity of 14.07%. The firm had revenue of $8.29 billion during the quarter, compared to analyst estimates of $8.33 billion. Equities analysts forecast that Medtronic plc will post 5.46 EPS for the current year.

Medtronic Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, April 11th. Stockholders of record on Friday, March 28th will be issued a $0.70 dividend. This represents a $2.80 dividend on an annualized basis and a dividend yield of 2.96%. The ex-dividend date is Friday, March 28th. Medtronic’s payout ratio is 85.11%.

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.