Medtronic plc (NYSE:MDT) Holdings Increased by Tlwm

Tlwm lifted its stake in shares of Medtronic plc (NYSE:MDT) by 2.6% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 8,533 shares of the medical technology company’s stock after acquiring an additional 215 shares during the quarter. Tlwm’s holdings in Medtronic were worth $752,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Sageworth Trust Co bought a new stake in shares of Medtronic during the 1st quarter worth $26,000. Laurel Wealth Advisors LLC grew its holdings in shares of Medtronic by 250.0% during the first quarter. Laurel Wealth Advisors LLC now owns 350 shares of the medical technology company’s stock valued at $28,000 after buying an additional 250 shares in the last quarter. Trivant Custom Portfolio Group LLC acquired a new position in Medtronic during the first quarter valued at $31,000. Certified Advisory Corp purchased a new stake in Medtronic in the 1st quarter worth about $31,000. Finally, Avalon Trust Co acquired a new stake in Medtronic during the 1st quarter worth about $32,000. Institutional investors own 80.75% of the company’s stock.

Insider Activity

In related news, EVP Brett A. Wall sold 2,000 shares of the company’s stock in a transaction dated Friday, July 14th. The shares were sold at an average price of $87.97, for a total transaction of $175,940.00. Following the transaction, the executive vice president now owns 23,948 shares in the company, valued at approximately $2,106,705.56. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In other Medtronic news, EVP Brett A. Wall sold 2,000 shares of the business’s stock in a transaction dated Friday, July 14th. The stock was sold at an average price of $87.97, for a total transaction of $175,940.00. Following the completion of the sale, the executive vice president now directly owns 23,948 shares of the company’s stock, valued at approximately $2,106,705.56. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Michael Marinaro sold 1,352 shares of the firm’s stock in a transaction that occurred on Friday, August 4th. The shares were sold at an average price of $84.11, for a total transaction of $113,716.72. Following the completion of the transaction, the executive vice president now directly owns 28,930 shares in the company, valued at $2,433,302.30. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 19,866 shares of company stock worth $1,688,839. Insiders own 0.30% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have recently issued reports on MDT. Morgan Stanley raised shares of Medtronic from an “equal weight” rating to an “overweight” rating and set a $104.00 price target for the company in a research report on Tuesday, May 30th. Truist Financial decreased their target price on shares of Medtronic from $93.00 to $90.00 in a research note on Friday, May 26th. Oppenheimer reaffirmed a “market perform” rating and issued a $89.00 price target on shares of Medtronic in a research note on Wednesday, August 23rd. Mizuho lifted their price objective on Medtronic from $95.00 to $100.00 and gave the company a “buy” rating in a research report on Wednesday, August 23rd. Finally, CL King started coverage on Medtronic in a research report on Friday, June 30th. They issued a “buy” rating and a $106.00 target price on the stock. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $91.67.

Medtronic Stock Performance

Shares of MDT stock traded up $1.09 during mid-day trading on Monday, reaching $82.86. The stock had a trading volume of 1,180,965 shares, compared to its average volume of 5,672,307. The firm has a market cap of $110.25 billion, a PE ratio of 30.69, a P/E/G ratio of 2.88 and a beta of 0.71. The company has a quick ratio of 1.79, a current ratio of 2.42 and a debt-to-equity ratio of 0.48. Medtronic plc has a one year low of $75.76 and a one year high of $92.02. The firm’s 50 day simple moving average is $84.16 and its 200 day simple moving average is $84.35.

Medtronic (NYSE:MDT) last released its quarterly earnings data on Tuesday, August 22nd. The medical technology company reported $1.20 earnings per share for the quarter, beating analysts’ consensus estimates of $1.11 by $0.09. Medtronic had a return on equity of 13.81% and a net margin of 11.47%. The company had revenue of $7.70 billion for the quarter, compared to the consensus estimate of $7.57 billion. During the same period in the previous year, the business earned $1.13 earnings per share. The company’s quarterly revenue was up 4.5% on a year-over-year basis. On average, analysts forecast that Medtronic plc will post 5.12 EPS for the current year.

Medtronic Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, October 13th. Investors of record on Friday, September 22nd will be issued a dividend of $0.69 per share. This represents a $2.76 annualized dividend and a yield of 3.33%. The ex-dividend date of this dividend is Thursday, September 21st. Medtronic’s dividend payout ratio is currently 101.85%.

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.