Register Financial Advisors LLC Acquires 1,613 Shares of Medtronic plc (NYSE:MDT)

Register Financial Advisors LLC increased its holdings in Medtronic plc (NYSE:MDT) by 60.9% in the 1st quarter, according to its most recent filing with the SEC. The institutional investor owned 4,262 shares of the medical technology company’s stock after buying an additional 1,613 shares during the quarter. Register Financial Advisors LLC’s holdings in Medtronic were worth $371,000 at the end of the most recent reporting period.

Other large investors have also made changes to their positions in the company. Fortitude Family Office LLC bought a new stake in shares of Medtronic during the 4th quarter valued at about $25,000. MeadowBrook Investment Advisors LLC bought a new stake in shares of Medtronic during the 4th quarter valued at about $27,000. Financial Gravity Asset Management Inc. grew its stake in shares of Medtronic by 317.0% during the 3rd quarter. Financial Gravity Asset Management Inc. now owns 367 shares of the medical technology company’s stock valued at $29,000 after purchasing an additional 279 shares during the period. Riverview Trust Co bought a new stake in shares of Medtronic during the 1st quarter valued at about $39,000. Finally, Fortis Group Advisors LLC grew its stake in shares of Medtronic by 100.0% during the 4th quarter. Fortis Group Advisors LLC now owns 460 shares of the medical technology company’s stock valued at $38,000 after purchasing an additional 230 shares during the period. 82.06% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

MDT has been the subject of a number of recent research reports. Truist Financial cut their price target on Medtronic from $90.00 to $88.00 and set a “hold” rating for the company in a research note on Friday, May 24th. Wells Fargo & Company lifted their price objective on Medtronic from $102.00 to $105.00 and gave the company an “overweight” rating in a research report on Friday, May 24th. UBS Group lifted their price objective on Medtronic from $75.00 to $76.00 and gave the company a “sell” rating in a research report on Friday, May 24th. The Goldman Sachs Group began coverage on Medtronic in a research report on Thursday, May 30th. They set a “sell” rating and a $83.00 price objective on the stock. Finally, Royal Bank of Canada reaffirmed a “sector perform” rating and set a $92.00 price objective on shares of Medtronic in a research report on Wednesday, June 5th. Two investment analysts have rated the stock with a sell rating, five have assigned a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $93.00.

Medtronic Price Performance

NYSE MDT traded up $0.08 during trading hours on Friday, reaching $78.71. The company’s stock had a trading volume of 8,829,682 shares, compared to its average volume of 6,333,922. The firm’s 50-day moving average price is $81.85 and its 200-day moving average price is $83.50. The company has a quick ratio of 1.55, a current ratio of 2.03 and a debt-to-equity ratio of 0.47. Medtronic plc has a 1 year low of $68.84 and a 1 year high of $91.00. The company has a market capitalization of $100.93 billion, a price-to-earnings ratio of 28.62, a PEG ratio of 2.33 and a beta of 0.83.

Medtronic (NYSE:MDT) last posted its quarterly earnings results on Thursday, May 23rd. The medical technology company reported $1.46 EPS for the quarter, topping analysts’ consensus estimates of $1.45 by $0.01. Medtronic had a return on equity of 13.47% and a net margin of 11.36%. The company had revenue of $8.59 billion for the quarter, compared to analysts’ expectations of $8.44 billion. During the same period in the previous year, the firm earned $1.57 EPS. The firm’s revenue was up .5% compared to the same quarter last year. On average, equities research analysts predict that Medtronic plc will post 5.44 EPS for the current fiscal year.

Medtronic Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, July 12th. Shareholders of record on Friday, June 28th will be paid a $0.70 dividend. This is an increase from Medtronic’s previous quarterly dividend of $0.69. The ex-dividend date of this dividend is Friday, June 28th. This represents a $2.80 dividend on an annualized basis and a yield of 3.56%. Medtronic’s payout ratio is presently 100.36%.

Insiders Place Their Bets

In other Medtronic news, CEO Geoffrey Martha sold 19,113 shares of Medtronic stock in a transaction that occurred on Friday, June 7th. The stock was sold at an average price of $83.77, for a total value of $1,601,096.01. Following the sale, the chief executive officer now owns 143,348 shares of the company’s stock, valued at approximately $12,008,261.96. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other news, EVP Michael Marinaro sold 854 shares of the business’s stock in a transaction that occurred on Monday, April 8th. The stock was sold at an average price of $83.14, for a total transaction of $71,001.56. Following the transaction, the executive vice president now owns 27,925 shares of the company’s stock, valued at approximately $2,321,684.50. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Geoffrey Martha sold 19,113 shares of the business’s stock in a transaction that occurred on Friday, June 7th. The shares were sold at an average price of $83.77, for a total value of $1,601,096.01. Following the transaction, the chief executive officer now directly owns 143,348 shares in the company, valued at approximately $12,008,261.96. The disclosure for this sale can be found here. Corporate insiders own 0.30% of the company’s stock.

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.