Essex Financial Services Inc. boosted its position in shares of Medtronic plc (NYSE:MDT – Free Report) by 18.6% during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 14,003 shares of the medical technology company’s stock after purchasing an additional 2,194 shares during the quarter. Essex Financial Services Inc.’s holdings in Medtronic were worth $1,112,000 as of its most recent filing with the Securities & Exchange Commission.
Other institutional investors and hedge funds have also bought and sold shares of the company. LifeSteps Financial Inc. acquired a new position in shares of Medtronic during the first quarter valued at about $27,000. MeadowBrook Investment Advisors LLC purchased a new stake in Medtronic in the fourth quarter valued at $27,000. Lynx Investment Advisory acquired a new stake in Medtronic during the 2nd quarter worth about $28,000. Tributary Capital Management LLC purchased a new position in shares of Medtronic during the 1st quarter valued at about $33,000. Finally, Riverview Trust Co purchased a new stake in shares of Medtronic in the first quarter worth about $39,000. 82.06% of the stock is owned by institutional investors.
Insider Activity
In related news, CEO Geoffrey Martha sold 19,113 shares of Medtronic stock in a transaction 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 completion of the transaction, the chief executive officer now directly owns 143,348 shares in the company, valued at $12,008,261.96. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Insiders own 0.30% of the company’s stock.
Wall Street Analyst Weigh In
Check Out Our Latest Analysis on MDT
Medtronic Trading Up 0.4 %
Shares of Medtronic stock traded up $0.39 during trading hours on Friday, hitting $88.58. The company’s stock had a trading volume of 7,940,126 shares, compared to its average volume of 5,969,357. The firm has a fifty day moving average of $81.32 and a 200-day moving average of $82.43. The company has a debt-to-equity ratio of 0.55, a quick ratio of 1.61 and a current ratio of 2.13. The stock has a market cap of $113.60 billion, a price-to-earnings ratio of 32.21, a P/E/G ratio of 2.52 and a beta of 0.82. Medtronic plc has a twelve month low of $68.84 and a twelve month high of $90.13.
Medtronic (NYSE:MDT – Get Free Report) last announced its quarterly earnings results on Tuesday, August 20th. The medical technology company reported $1.23 earnings per share for the quarter, beating analysts’ consensus estimates of $1.20 by $0.03. Medtronic had a net margin of 12.06% and a return on equity of 13.68%. The business had revenue of $7.97 billion during the quarter, compared to analysts’ expectations of $7.90 billion. During the same period last year, the business earned $1.20 earnings per share. The business’s revenue for the quarter was up 3.4% on a year-over-year basis. Research analysts forecast that Medtronic plc will post 5.46 EPS for the current year.
Medtronic Announces Dividend
The company also recently declared a quarterly dividend, which will be paid on Friday, October 11th. Stockholders of record on Friday, September 27th will be given a dividend of $0.70 per share. The ex-dividend date of this dividend is Friday, September 27th. This represents a $2.80 annualized dividend and a dividend yield of 3.16%. Medtronic’s dividend payout ratio is currently 101.82%.
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.
Recommended Stories
- Five stocks we like better than Medtronic
- Uptrend Stocks Explained: Learn How to Trade Using Uptrends
- Don’t Overlook Campbell Soup: Here’s What Could Drive Its Stock
- What Are Some of the Best Large-Cap Stocks to Buy?
- Birkenstock’s Sudden Slide—Why It Might Be Your Next Big Win
- Consumer Staples Stocks, Explained
- Veeva’s Stock Jumps on Stellar Q2 Results—Don’t Miss Out
Want to see what other hedge funds are holding MDT? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Medtronic plc (NYSE:MDT – Free Report).
Receive News & Ratings for Medtronic Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Medtronic and related companies with MarketBeat.com's FREE daily email newsletter.