Medtronic plc (NYSE:MDT) Shares Purchased by United Capital Financial Advisers LLC

United Capital Financial Advisers LLC lifted its position in Medtronic plc (NYSE:MDT) by 2.6% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 598,704 shares of the medical technology company’s stock after purchasing an additional 15,103 shares during the quarter. United Capital Financial Advisers LLC’s holdings in Medtronic were worth $74,317,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently made changes to their positions in MDT. E Fund Management Co. Ltd. acquired a new stake in shares of Medtronic in the 1st quarter valued at about $378,000. Texas Yale Capital Corp. acquired a new stake in shares of Medtronic in the 1st quarter valued at about $236,000. Cresset Asset Management LLC boosted its position in shares of Medtronic by 57.3% in the 1st quarter. Cresset Asset Management LLC now owns 32,903 shares of the medical technology company’s stock valued at $3,905,000 after purchasing an additional 11,983 shares during the period. Harbour Investments Inc. acquired a new stake in Medtronic during the 1st quarter worth approximately $50,000. Finally, M Holdings Securities Inc. acquired a new stake in Medtronic during the 1st quarter worth approximately $1,095,000. 79.59% of the stock is owned by hedge funds and other institutional investors.

In other news, SVP Bradley E. Lerman sold 4,000 shares of the firm’s stock in a transaction on Monday, August 2nd. The stock was sold at an average price of $131.52, for a total transaction of $526,080.00. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, SVP Bradley E. Lerman sold 50,775 shares of the firm’s stock in a transaction on Tuesday, August 31st. The stock was sold at an average price of $134.17, for a total value of $6,812,481.75. The disclosure for this sale can be found here. In the last quarter, insiders have sold 143,922 shares of company stock worth $18,906,460. 0.47% of the stock is owned by insiders.

A number of analysts have weighed in on MDT shares. Argus increased their price objective on Medtronic from $150.00 to $165.00 and gave the stock a “buy” rating in a research report on Friday, August 27th. Raymond James increased their price objective on Medtronic from $135.00 to $142.00 and gave the stock an “outperform” rating in a research report on Wednesday, August 25th. Piper Sandler reaffirmed an “overweight” rating and set a $152.00 price objective (up from $140.00) on shares of Medtronic in a research report on Tuesday, August 24th. Morgan Stanley increased their price objective on Medtronic from $140.00 to $154.00 and gave the stock an “overweight” rating in a research report on Wednesday, August 25th. Finally, Wells Fargo & Company increased their price objective on Medtronic from $140.00 to $151.00 and gave the stock an “overweight” rating in a research report on Wednesday, August 25th. Five analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Buy” and an average target price of $144.18.

NYSE MDT traded up $1.93 during mid-day trading on Thursday, hitting $124.50. The stock had a trading volume of 101,326 shares, compared to its average volume of 4,334,343. Medtronic plc has a 52-week low of $98.94 and a 52-week high of $135.89. The company has a market cap of $167.32 billion, a price-to-earnings ratio of 43.40, a P/E/G ratio of 2.62 and a beta of 0.80. The company has a 50 day simple moving average of $129.46 and a 200 day simple moving average of $127.14. The company has a quick ratio of 2.34, a current ratio of 2.89 and a debt-to-equity ratio of 0.50.

Medtronic (NYSE:MDT) last released its quarterly earnings data on Monday, August 23rd. The medical technology company reported $1.41 earnings per share for the quarter, beating the consensus estimate of $1.32 by $0.09. The firm had revenue of $7.99 billion during the quarter, compared to the consensus estimate of $7.88 billion. Medtronic had a return on equity of 13.85% and a net margin of 12.29%. Medtronic’s quarterly revenue was up 22.7% on a year-over-year basis. During the same period last year, the business posted $0.62 EPS. As a group, equities analysts anticipate that Medtronic plc will post 5.7 earnings per share for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Friday, October 15th. Shareholders of record on Friday, September 24th will be issued a dividend of $0.63 per share. This represents a $2.52 dividend on an annualized basis and a yield of 2.02%. The ex-dividend date is Thursday, September 23rd.

Medtronic Profile

Medtronic Plc is a medical technology company, which engages in the development, manufacture, distribution, and sale of device-based medical therapies and services. It operates through the following segments: Cardiac and Vascular Group; Minimally Invasive Technologies Group; Restorative Therapies Group; and Diabetes Group.

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Institutional Ownership by Quarter for Medtronic (NYSE:MDT)

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