Harbour Investments Inc. Increases Position in Medtronic plc (NYSE:MDT)

Harbour Investments Inc. lifted its holdings in Medtronic plc (NYSE:MDT) by 14.5% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 10,812 shares of the medical technology company’s stock after purchasing an additional 1,367 shares during the period. Harbour Investments Inc.’s holdings in Medtronic were worth $864,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently modified their holdings of the business. Envestnet Portfolio Solutions Inc. increased its stake in shares of Medtronic by 1.7% in the 4th quarter. Envestnet Portfolio Solutions Inc. now owns 190,937 shares of the medical technology company’s stock valued at $15,252,000 after purchasing an additional 3,255 shares in the last quarter. Natixis Advisors LLC increased its stake in shares of Medtronic by 5.9% in the 4th quarter. Natixis Advisors LLC now owns 1,423,128 shares of the medical technology company’s stock valued at $113,679,000 after purchasing an additional 78,918 shares in the last quarter. Poinciana Advisors Group LLC purchased a new position in shares of Medtronic in the 4th quarter valued at about $341,000. Valtinson Bruner Financial Planning LLC increased its stake in shares of Medtronic by 4.0% in the 4th quarter. Valtinson Bruner Financial Planning LLC now owns 23,933 shares of the medical technology company’s stock valued at $1,912,000 after purchasing an additional 920 shares in the last quarter. Finally, Buckley Wealth Management LLC increased its stake in shares of Medtronic by 2.7% in the 4th quarter. Buckley Wealth Management LLC now owns 9,945 shares of the medical technology company’s stock valued at $794,000 after purchasing an additional 262 shares in the last quarter. Hedge funds and other institutional investors own 82.06% of the company’s stock.

Insiders Place Their Bets

In other news, EVP Brett A. Wall sold 12,437 shares of the firm’s stock in a transaction on Friday, January 24th. The stock was sold at an average price of $90.00, for a total transaction of $1,119,330.00. Following the completion of the transaction, the executive vice president now directly owns 40,979 shares in the company, valued at $3,688,110. This trade represents a 23.28 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 0.20% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

MDT has been the subject of several research reports. Barclays boosted their price objective on Medtronic from $105.00 to $109.00 and gave the stock an “overweight” rating in a research note on Tuesday, November 26th. Needham & Company LLC reissued a “hold” rating on shares of Medtronic in a report on Wednesday, February 19th. Truist Financial reduced their target price on Medtronic from $93.00 to $89.00 and set a “hold” rating for the company in a report on Wednesday, December 18th. UBS Group increased their target price on Medtronic from $85.00 to $95.00 and gave the company a “neutral” rating in a report on Wednesday, February 19th. Finally, Wells Fargo & Company reduced their target price on Medtronic from $106.00 to $98.00 and set an “overweight” rating for the company in a report on Wednesday, November 20th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company has a consensus rating of “Hold” and an average price target of $96.07.

Medtronic Price Performance

NYSE:MDT opened at $91.78 on Thursday. Medtronic plc has a one year low of $75.96 and a one year high of $96.25. The company has a debt-to-equity ratio of 0.48, a quick ratio of 1.39 and a current ratio of 1.90. The stock has a market cap of $117.71 billion, a PE ratio of 27.90, a P/E/G ratio of 2.22 and a beta of 0.80. The stock has a 50 day moving average price of $90.30 and a 200 day moving average price of $88.04.

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, topping the consensus estimate of $1.36 by $0.03. The company had revenue of $8.29 billion during the quarter, compared to analysts’ expectations of $8.33 billion. Medtronic had a return on equity of 14.07% and a net margin of 12.83%. Equities research analysts expect that Medtronic plc will post 5.46 EPS for the current fiscal year.

Medtronic Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, April 11th. Shareholders of record on Friday, March 28th will be paid a dividend of $0.70 per share. The ex-dividend date of this dividend is Friday, March 28th. This represents a $2.80 annualized dividend and a yield of 3.05%. Medtronic’s dividend payout ratio (DPR) is 85.11%.

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.