4,003 Shares in Medtronic plc (NYSE:MDT) Purchased by ORG Partners LLC

ORG Partners LLC acquired a new position in Medtronic plc (NYSE:MDT) during the 2nd quarter, according to its most recent filing with the SEC. The fund acquired 4,003 shares of the medical technology company’s stock, valued at approximately $309,000.

Other institutional investors and hedge funds have also made changes to their positions in the company. MeadowBrook Investment Advisors LLC acquired a new stake in shares of Medtronic during the 4th quarter worth about $27,000. LifeSteps Financial Inc. acquired a new stake in shares of Medtronic during the 1st quarter worth about $27,000. Lynx Investment Advisory acquired a new stake in shares of Medtronic during the 2nd quarter worth about $28,000. Tributary Capital Management LLC acquired a new stake in shares of Medtronic during the 1st quarter worth about $33,000. Finally, Fortis Group Advisors LLC boosted 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 worth $38,000 after purchasing an additional 230 shares during the last quarter. 82.06% of the stock is currently owned by hedge funds and other institutional investors.

Medtronic Trading Down 0.6 %

NYSE MDT traded down $0.53 during mid-day trading on Wednesday, hitting $81.74. The company’s stock had a trading volume of 5,532,787 shares, compared to its average volume of 6,242,111. Medtronic plc has a 52-week low of $68.84 and a 52-week high of $89.18. The stock’s fifty day simple moving average is $79.98 and its two-hundred day simple moving average is $82.39. The company has a debt-to-equity ratio of 0.47, a current ratio of 2.03 and a quick ratio of 1.55. The firm has a market capitalization of $104.81 billion, a P/E ratio of 29.60, a price-to-earnings-growth ratio of 2.35 and a beta of 0.82.

Medtronic (NYSE:MDT) last posted its quarterly earnings results on Thursday, May 23rd. The medical technology company reported $1.46 EPS for the quarter, beating the consensus estimate of $1.45 by $0.01. The firm had revenue of $8.59 billion for the quarter, compared to analyst estimates of $8.44 billion. Medtronic had a net margin of 11.36% and a return on equity of 13.47%. Medtronic’s revenue for the quarter was up .5% compared to the same quarter last year. During the same quarter last year, the firm posted $1.57 earnings per share. Research analysts expect that Medtronic plc will post 5.44 EPS for the current year.

Medtronic Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, July 12th. Stockholders of record on Friday, June 28th were paid a dividend of $0.70 per share. The ex-dividend date of this dividend was Friday, June 28th. This represents a $2.80 dividend on an annualized basis and a dividend yield of 3.43%. This is a positive change from Medtronic’s previous quarterly dividend of $0.69. Medtronic’s dividend payout ratio (DPR) is currently 101.82%.

Wall Street Analysts Forecast Growth

MDT has been the topic of several analyst reports. UBS Group raised their price target on shares of Medtronic from $75.00 to $76.00 and gave the stock a “sell” rating in a research note on Friday, May 24th. Royal Bank of Canada reissued a “sector perform” rating and issued a $92.00 target price on shares of Medtronic in a research report on Wednesday, July 17th. Wells Fargo & Company raised their target price on shares of Medtronic from $102.00 to $105.00 and gave the stock an “overweight” rating in a research report on Friday, May 24th. Stifel Nicolaus cut shares of Medtronic from a “buy” rating to a “hold” rating and decreased their target price for the stock from $100.00 to $85.00 in a research report on Wednesday. Finally, Truist Financial decreased their target price on shares of Medtronic from $88.00 to $85.00 and set a “hold” rating on the stock in a research report on Tuesday, July 16th. Two equities research analysts have rated the stock with a sell rating, six have issued a hold rating and four have issued a buy rating to the stock. According to MarketBeat.com, Medtronic has a consensus rating of “Hold” and a consensus price target of $89.90.

Insider Activity

In other news, CEO Geoffrey Martha sold 19,113 shares of Medtronic stock in a transaction that occurred on Friday, June 7th. The shares were sold at an average price of $83.77, for a total transaction of $1,601,096.01. Following the sale, the chief executive officer now owns 143,348 shares in the company, valued at $12,008,261.96. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 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.