Fielder Capital Group LLC Makes New $225,000 Investment in Medtronic plc (NYSE:MDT)

Fielder Capital Group LLC purchased a new stake in Medtronic plc (NYSE:MDT) in the 4th quarter, HoldingsChannel reports. The fund purchased 2,731 shares of the medical technology company’s stock, valued at approximately $225,000.

A number of other hedge funds also recently made changes to their positions in MDT. Machina Capital S.A.S. bought a new position in Medtronic during the 4th quarter worth approximately $995,000. Maryland State Retirement & Pension System raised its stake in Medtronic by 1.1% during the fourth quarter. Maryland State Retirement & Pension System now owns 103,409 shares of the medical technology company’s stock worth $8,519,000 after buying an additional 1,100 shares during the last quarter. Private Advisor Group LLC lifted its holdings in Medtronic by 2.9% in the fourth quarter. Private Advisor Group LLC now owns 109,846 shares of the medical technology company’s stock valued at $9,049,000 after buying an additional 3,083 shares during the period. Wealthcare Advisory Partners LLC boosted its position in Medtronic by 6.0% during the fourth quarter. Wealthcare Advisory Partners LLC now owns 6,902 shares of the medical technology company’s stock valued at $569,000 after acquiring an additional 393 shares during the last quarter. Finally, MeadowBrook Investment Advisors LLC acquired a new stake in Medtronic during the 4th quarter worth about $27,000. 82.06% of the stock is currently owned by institutional investors.

Insider Buying and Selling

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

Medtronic Stock Up 0.1 %

NYSE MDT traded up $0.08 on Monday, reaching $81.77. The company had a trading volume of 3,676,129 shares, compared to its average volume of 6,199,255. The company has a quick ratio of 1.71, a current ratio of 2.30 and a debt-to-equity ratio of 0.46. The company’s fifty day moving average is $83.05 and its 200 day moving average is $81.63. Medtronic plc has a 52-week low of $68.84 and a 52-week high of $91.00. The stock has a market capitalization of $108.57 billion, a P/E ratio of 26.04, a P/E/G ratio of 2.66 and a beta of 0.78.

Medtronic (NYSE:MDT) last announced its 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. Medtronic had a net margin of 13.00% and a return on equity of 13.71%. The company had revenue of $8.09 billion during the quarter, compared to the consensus estimate of $7.95 billion. During the same quarter in the prior year, the company posted $1.30 earnings per share. The firm’s revenue for the quarter was up 4.7% on a year-over-year basis. Sell-side analysts anticipate that Medtronic plc will post 5.2 earnings per share for the current fiscal year.

Medtronic Announces Dividend

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

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on the company. Royal Bank of Canada reissued a “sector perform” rating and issued a $92.00 price objective on shares of Medtronic in a research note on Wednesday, February 21st. Truist Financial increased their price target on Medtronic from $87.00 to $90.00 and gave the stock a “hold” rating in a report on Wednesday, February 21st. Oppenheimer lifted their price objective on shares of Medtronic from $89.00 to $92.00 and gave the company a “market perform” rating in a research note on Wednesday, February 21st. Finally, Mizuho increased their target price on shares of Medtronic from $95.00 to $98.00 and gave the stock a “buy” rating in a research note on Wednesday, February 21st. One 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. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $94.91.

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.