Paragon Private Wealth Management LLC Buys 544 Shares of Medtronic plc (NYSE:MDT)

Paragon Private Wealth Management LLC boosted its stake in shares of Medtronic plc (NYSE:MDT) by 5.8% in the fourth quarter, HoldingsChannel reports. The institutional investor owned 9,967 shares of the medical technology company’s stock after purchasing an additional 544 shares during the period. Paragon Private Wealth Management LLC’s holdings in Medtronic were worth $796,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Darwin Wealth Management LLC bought a new stake in Medtronic during the 3rd quarter valued at about $27,000. Mainstream Capital Management LLC bought a new stake in Medtronic during the 4th quarter valued at about $26,000. J. Stern & Co. LLP bought a new stake in Medtronic during the 3rd quarter valued at about $30,000. Stephens Consulting LLC lifted its holdings in Medtronic by 145.7% during the 4th quarter. Stephens Consulting LLC now owns 344 shares of the medical technology company’s stock valued at $27,000 after buying an additional 204 shares in the last quarter. Finally, Fiduciary Advisors Inc. bought a new stake in Medtronic during the 4th quarter valued at about $36,000. Institutional investors own 82.06% of the company’s stock.

Analyst Ratings Changes

MDT has been the subject of several research reports. JPMorgan Chase & Co. lowered 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. Truist Financial lowered 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. UBS Group upped their price target on shares of Medtronic from $85.00 to $95.00 and gave the stock a “neutral” rating in a research report on Wednesday, February 19th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $105.00 price target on shares of Medtronic in a research report on Wednesday, February 19th. Finally, Needham & Company LLC reaffirmed a “hold” rating on shares of Medtronic in a research report on Wednesday, February 19th. 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 issued a strong buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $96.07.

Medtronic Stock Performance

Shares of Medtronic stock opened at $94.58 on Monday. The firm’s fifty day simple moving average is $88.33 and its 200-day simple moving average is $87.80. The stock has a market capitalization of $121.30 billion, a price-to-earnings ratio of 28.75, a PEG ratio of 2.22 and a beta of 0.80. Medtronic plc has a 12 month low of $75.96 and a 12 month high of $95.57. The company has a debt-to-equity ratio of 0.48, a current ratio of 1.90 and a quick ratio of 1.39.

Medtronic (NYSE:MDT) last announced its quarterly earnings data on Tuesday, February 18th. The medical technology company reported $1.39 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.36 by $0.03. The company had revenue of $8.29 billion for the quarter, compared to analysts’ expectations of $8.33 billion. Medtronic had a net margin of 12.83% and a return on equity of 14.07%. As a group, equities analysts forecast that Medtronic plc will post 5.46 earnings per share for the current year.

Medtronic Dividend Announcement

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

Insider Buying and Selling at Medtronic

In other news, EVP Brett A. Wall sold 12,437 shares of the company’s stock in a transaction dated Friday, January 24th. The shares were 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 owns 40,979 shares of the company’s stock, valued at $3,688,110. This represents a 23.28 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 0.20% of the stock is owned by insiders.

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.