Medtronic plc (NYSE:MDT) Shares Bought by Jacobs & Co. CA

Jacobs & Co. CA lifted its stake in shares of Medtronic plc (NYSE:MDT) by 0.6% during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 47,367 shares of the medical technology company’s stock after acquiring an additional 298 shares during the period. Jacobs & Co. CA’s holdings in Medtronic were worth $4,173,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also modified their holdings of the company. Legacy Bridge LLC increased its position in Medtronic by 28.5% during the second quarter. Legacy Bridge LLC now owns 2,590 shares of the medical technology company’s stock worth $228,000 after purchasing an additional 575 shares during the last quarter. Buckingham Capital Management Inc. grew its stake in shares of Medtronic by 6.8% in the 2nd quarter. Buckingham Capital Management Inc. now owns 13,620 shares of the medical technology company’s stock valued at $1,200,000 after buying an additional 868 shares during the period. Beese Fulmer Investment Management Inc. increased its holdings in shares of Medtronic by 0.4% during the 2nd quarter. Beese Fulmer Investment Management Inc. now owns 65,193 shares of the medical technology company’s stock worth $5,744,000 after buying an additional 256 shares during the last quarter. Northwest Investment Counselors LLC raised its position in shares of Medtronic by 8.5% during the 2nd quarter. Northwest Investment Counselors LLC now owns 30,528 shares of the medical technology company’s stock valued at $2,690,000 after buying an additional 2,404 shares during the period. Finally, Janiczek Wealth Management LLC lifted its holdings in Medtronic by 7.1% in the second quarter. Janiczek Wealth Management LLC now owns 7,406 shares of the medical technology company’s stock valued at $653,000 after acquiring an additional 488 shares during the last quarter. Hedge funds and other institutional investors own 80.75% of the company’s stock.

Insiders Place Their Bets

In other Medtronic news, EVP Brett A. Wall sold 2,000 shares of the stock in a transaction that occurred on 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Medtronic news, EVP Brett A. Wall sold 2,000 shares of the company’s stock in a transaction on Friday, July 14th. The shares were sold at an average price of $87.97, for a total transaction of $175,940.00. Following the completion of 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 legal filing with the SEC, which can be accessed through this link. Also, EVP Hoedt Rob Ten sold 5,514 shares of the firm’s stock in a transaction on Monday, July 10th. The stock was sold at an average price of $86.58, for a total transaction of $477,402.12. Following the completion of the sale, the executive vice president now owns 43,802 shares of the company’s stock, valued at approximately $3,792,377.16. The disclosure for this sale can be found here. In the last three months, insiders have sold 19,866 shares of company stock valued at $1,688,839. Insiders own 0.30% of the company’s stock.

Medtronic Stock Performance

Shares of MDT opened at $82.40 on Monday. The company has a market capitalization of $109.64 billion, a price-to-earnings ratio of 30.17, a price-to-earnings-growth ratio of 2.86 and a beta of 0.71. Medtronic plc has a 52-week low of $75.76 and a 52-week high of $92.02. The company has a quick ratio of 1.79, a current ratio of 2.42 and a debt-to-equity ratio of 0.48. The stock has a 50 day moving average price of $84.16 and a 200 day moving average price of $84.35.

Medtronic (NYSE:MDT) last posted its earnings results on Tuesday, August 22nd. The medical technology company reported $1.20 EPS for the quarter, beating analysts’ consensus estimates of $1.11 by $0.09. Medtronic had a net margin of 11.47% and a return on equity of 13.81%. The firm had revenue of $7.70 billion for the quarter, compared to the consensus estimate of $7.57 billion. During the same period last year, the firm posted $1.13 EPS. The company’s revenue was up 4.5% on a year-over-year basis. Research analysts predict that Medtronic plc will post 5.12 EPS for the current fiscal year.

Medtronic Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, October 13th. Investors of record on Friday, September 22nd will be paid a dividend of $0.69 per share. This represents a $2.76 dividend on an annualized basis and a yield of 3.35%. The ex-dividend date of this dividend is Thursday, September 21st. Medtronic’s dividend payout ratio is currently 101.85%.

Analyst Ratings Changes

A number of brokerages recently issued reports on MDT. Truist Financial cut their price objective on Medtronic from $93.00 to $90.00 in a research report on Friday, May 26th. Wells Fargo & Company upped their price target on Medtronic from $100.00 to $102.00 and gave the stock an “overweight” rating in a research note on Wednesday, August 23rd. Mizuho lifted their target price on Medtronic from $95.00 to $100.00 and gave the company a “buy” rating in a research report on Wednesday, August 23rd. Morgan Stanley raised shares of Medtronic from an “equal weight” rating to an “overweight” rating and set a $104.00 price objective for the company in a research note on Tuesday, May 30th. Finally, Robert W. Baird initiated coverage on shares of Medtronic in a research note on Tuesday, July 18th. They set a “neutral” rating and a $90.00 target price on the stock. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $91.67.

About Medtronic

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.