Medtronic plc (NYSE:MDT) Shares Sold by Oakworth Capital Inc.

Oakworth Capital Inc. lessened its stake in Medtronic plc (NYSE:MDT) by 37.9% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 1,195 shares of the medical technology company’s stock after selling 729 shares during the quarter. Oakworth Capital Inc.’s holdings in Medtronic were worth $94,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. LifeSteps Financial Inc. acquired a new stake in Medtronic during the 1st quarter valued at approximately $27,000. MeadowBrook Investment Advisors LLC bought a new position in Medtronic during the 4th quarter valued at $27,000. Lynx Investment Advisory bought a new stake in shares of Medtronic in the 2nd quarter worth about $28,000. Tributary Capital Management LLC acquired a new stake in shares of Medtronic in the 1st quarter valued at about $33,000. Finally, Riverview Trust Co bought a new position in shares of Medtronic during the first quarter worth about $39,000. Institutional investors and hedge funds own 82.06% of the company’s stock.

Medtronic Price Performance

NYSE MDT traded up $0.95 on Friday, reaching $84.60. The company’s stock had a trading volume of 5,374,797 shares, compared to its average volume of 6,239,440. Medtronic plc has a twelve month low of $68.84 and a twelve month high of $89.18. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.55 and a current ratio of 2.03. The firm’s 50 day moving average is $80.00 and its two-hundred day moving average is $82.34. The stock has a market cap of $108.48 billion, a PE ratio of 30.76, a PEG ratio of 2.35 and a beta of 0.82.

Medtronic (NYSE:MDT) last released its 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 business had revenue of $8.59 billion during 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%. The business’s quarterly revenue was up .5% on a year-over-year basis. During the same period in the prior year, the business earned $1.57 earnings per share. As a group, sell-side analysts predict that Medtronic plc will post 5.44 EPS for the current year.

Medtronic Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, October 11th. Stockholders of record on Friday, September 27th will be issued a dividend of $0.70 per share. This represents a $2.80 annualized dividend and a dividend yield of 3.31%. The ex-dividend date is Friday, September 27th. Medtronic’s dividend payout ratio is 101.82%.

Analyst Ratings Changes

MDT has been the topic of several research reports. The Goldman Sachs Group assumed coverage on Medtronic in a research note on Thursday, May 30th. They set a “sell” rating and a $83.00 price objective on the stock. Citigroup reduced their price objective on Medtronic from $90.00 to $85.00 and set a “neutral” rating on the stock in a research note on Wednesday, July 10th. Needham & Company LLC reissued a “hold” rating on shares of Medtronic in a report on Monday, August 12th. Royal Bank of Canada restated a “sector perform” rating and set a $92.00 price objective on shares of Medtronic in a research note on Wednesday, July 17th. Finally, Wells Fargo & Company boosted their price target on shares of Medtronic from $102.00 to $105.00 and gave the company an “overweight” rating in a report on Friday, May 24th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and four have issued a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $91.30.

Insider Buying and Selling

In other Medtronic news, CEO Geoffrey Martha sold 19,113 shares of the firm’s stock in a transaction dated 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 completion of the transaction, the chief executive officer now directly owns 143,348 shares in the company, valued at $12,008,261.96. The sale was disclosed in a filing with the SEC, which is accessible through this link. 0.30% of the stock is currently owned by company insiders.

Medtronic Company 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.