Crowley Wealth Management Inc. Invests $680,000 in Medtronic plc (NYSE:MDT)

Crowley Wealth Management Inc. bought a new stake in Medtronic plc (NYSE:MDT) in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 8,508 shares of the medical technology company’s stock, valued at approximately $680,000.

A number of other hedge funds have also recently modified their holdings of the stock. Segall Bryant & Hamill LLC acquired a new stake in shares of Medtronic in the 3rd quarter valued at about $2,641,000. Citizens Financial Group Inc. RI lifted its stake in Medtronic by 31.5% in the third quarter. Citizens Financial Group Inc. RI now owns 15,873 shares of the medical technology company’s stock valued at $1,439,000 after buying an additional 3,805 shares during the last quarter. LPL Financial LLC boosted its holdings in shares of Medtronic by 6.9% in the third quarter. LPL Financial LLC now owns 1,092,135 shares of the medical technology company’s stock valued at $98,325,000 after acquiring an additional 70,413 shares during the period. Pacer Advisors Inc. grew its position in shares of Medtronic by 14.6% during the third quarter. Pacer Advisors Inc. now owns 142,368 shares of the medical technology company’s stock worth $12,817,000 after acquiring an additional 18,171 shares during the last quarter. Finally, Allen Capital Group LLC acquired a new position in shares of Medtronic in the 3rd quarter valued at $259,000. 82.06% of the stock is owned by hedge funds and other institutional investors.

Medtronic Stock Down 0.9 %

Shares of NYSE MDT opened at $90.37 on Friday. The company has a debt-to-equity ratio of 0.48, a current ratio of 1.90 and a quick ratio of 1.39. The firm’s 50-day moving average is $90.67 and its two-hundred day moving average is $88.07. Medtronic plc has a 12-month low of $75.96 and a 12-month high of $96.25. The company has a market capitalization of $115.90 billion, a PE ratio of 27.47, a price-to-earnings-growth ratio of 2.22 and a beta of 0.80.

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

Medtronic Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, April 11th. Investors of record on Friday, March 28th will be given a dividend of $0.70 per share. This represents a $2.80 dividend on an annualized basis and a yield of 3.10%. The ex-dividend date is Friday, March 28th. Medtronic’s dividend payout ratio is presently 85.11%.

Insider Activity at Medtronic

In other Medtronic news, EVP Brett A. Wall sold 9,850 shares of the business’s stock in a transaction on Wednesday, January 8th. The stock was sold at an average price of $80.41, for a total value of $792,038.50. Following the completion of the transaction, the executive vice president now directly owns 40,708 shares in the company, valued at approximately $3,273,330.28. The trade was a 19.48 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. 0.20% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

A number of analysts recently weighed in on the stock. Royal Bank of Canada reiterated an “outperform” rating and set a $105.00 price target on shares of Medtronic in a research note on Wednesday, February 19th. Truist Financial decreased their target price on shares of Medtronic from $93.00 to $89.00 and set a “hold” rating for the company in a research note on Wednesday, December 18th. Robert W. Baird boosted their price target on Medtronic from $90.00 to $91.00 and gave the company a “neutral” rating in a research report on Wednesday, February 19th. Barclays upped their price objective on shares of Medtronic from $105.00 to $109.00 and gave the stock an “overweight” rating in a research report on Tuesday, November 26th. Finally, UBS Group boosted their price target on shares of Medtronic from $85.00 to $95.00 and gave the stock a “neutral” rating in a research note on Wednesday, February 19th. One research analyst has rated the stock with a sell rating, eight have given a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $96.07.

Medtronic 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.