Marino Stram & Associates LLC Acquires 534 Shares of Medtronic plc (NYSE:MDT)

Marino Stram & Associates LLC grew its holdings in Medtronic plc (NYSE:MDT) by 7.8% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 7,419 shares of the medical technology company’s stock after purchasing an additional 534 shares during the quarter. Marino Stram & Associates LLC’s holdings in Medtronic were worth $593,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of MDT. Fortitude Family Office LLC bought a new stake in shares of Medtronic in the 3rd quarter valued at about $27,000. Highline Wealth Partners LLC bought a new stake in shares of Medtronic in the 3rd quarter valued at about $27,000. Darwin Wealth Management LLC bought a new stake in shares of Medtronic in the 3rd quarter valued at about $27,000. J. Stern & Co. LLP bought a new position in shares of Medtronic during the 3rd quarter worth approximately $30,000. Finally, Kieckhefer Group LLC bought a new position in shares of Medtronic during the 4th quarter worth approximately $40,000. Institutional investors own 82.06% of the company’s stock.

Analyst Upgrades and Downgrades

MDT has been the subject of several recent analyst reports. Barclays boosted their price objective on shares of Medtronic from $105.00 to $109.00 and gave the stock an “overweight” rating in a research note on Tuesday, November 26th. Truist Financial reduced their price objective 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. Needham & Company LLC reiterated a “hold” rating on shares of Medtronic in a research note on Monday, November 18th. Evercore ISI upped their price target on shares of Medtronic from $100.00 to $104.00 and gave the company an “outperform” rating in a research note on Tuesday, October 1st. Finally, Royal Bank of Canada upgraded shares of Medtronic from a “sector perform” rating to an “outperform” rating and upped their price target for the company from $98.00 to $105.00 in a research note on Thursday, October 10th. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating, six have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $95.00.

Medtronic Stock Performance

MDT opened at $87.84 on Thursday. The company has a quick ratio of 1.39, a current ratio of 1.84 and a debt-to-equity ratio of 0.51. The company has a market cap of $112.64 billion, a price-to-earnings ratio of 26.86, a PEG ratio of 2.50 and a beta of 0.83. Medtronic plc has a 52-week low of $75.96 and a 52-week high of $92.68. The firm’s fifty day simple moving average is $83.64 and its two-hundred day simple moving average is $85.37.

Medtronic (NYSE:MDT) last posted its quarterly earnings data on Tuesday, November 19th. The medical technology company reported $1.26 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.25 by $0.01. The business had revenue of $8.40 billion for the quarter, compared to the consensus estimate of $8.27 billion. Medtronic had a net margin of 13.00% and a return on equity of 13.79%. The company’s revenue was up 5.2% compared to the same quarter last year. During the same period last year, the firm posted $1.25 earnings per share. Equities analysts anticipate that Medtronic plc will post 5.45 earnings per share for the current fiscal year.

Medtronic Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, January 10th. Shareholders of record on Friday, December 27th were issued a dividend of $0.70 per share. This represents a $2.80 annualized dividend and a yield of 3.19%. The ex-dividend date of this dividend was Friday, December 27th. Medtronic’s payout ratio is 85.63%.

Insider Activity

In other news, EVP Brett A. Wall sold 9,850 shares of the stock in a transaction dated Wednesday, January 8th. The shares were sold at an average price of $80.41, for a total value of $792,038.50. Following the completion of the sale, the executive vice president now directly owns 40,708 shares in the company, valued at $3,273,330.28. This represents a 19.48 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Company insiders own 0.20% of the company’s stock.

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.