Kestra Advisory Services LLC Has $12.92 Million Stake in Medtronic plc (NYSE:MDT)

Kestra Advisory Services LLC increased its position in shares of Medtronic plc (NYSE:MDT) by 17.1% in the 1st quarter, HoldingsChannel reports. The firm owned 148,211 shares of the medical technology company’s stock after acquiring an additional 21,594 shares during the quarter. Kestra Advisory Services LLC’s holdings in Medtronic were worth $12,917,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Capital Research Global Investors raised its stake in Medtronic by 7.1% during the first quarter. Capital Research Global Investors now owns 30,884,412 shares of the medical technology company’s stock worth $2,691,577,000 after acquiring an additional 2,044,109 shares in the last quarter. Bank of New York Mellon Corp raised its stake in Medtronic by 3.5% during the first quarter. Bank of New York Mellon Corp now owns 21,817,063 shares of the medical technology company’s stock worth $1,901,357,000 after acquiring an additional 727,931 shares in the last quarter. Norges Bank acquired a new position in Medtronic during the fourth quarter worth about $1,229,726,000. Sanders Capital LLC raised its stake in Medtronic by 2.8% during the fourth quarter. Sanders Capital LLC now owns 12,634,161 shares of the medical technology company’s stock worth $1,040,802,000 after acquiring an additional 346,641 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. raised its stake in Medtronic by 0.9% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 11,089,400 shares of the medical technology company’s stock worth $893,352,000 after acquiring an additional 101,111 shares in the last quarter. Institutional investors own 82.06% of the company’s stock.

Insider Activity

In related news, CEO Geoffrey Martha sold 19,113 shares of Medtronic stock in a transaction dated 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 sale, the chief executive officer now owns 143,348 shares of the company’s stock, valued at approximately $12,008,261.96. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Insiders own 0.30% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on the company. UBS Group upped their price objective on Medtronic from $75.00 to $76.00 and gave the company a “sell” rating in a research note on Friday, May 24th. The Goldman Sachs Group initiated coverage on shares of Medtronic in a research report on Thursday, May 30th. They set a “sell” rating and a $83.00 target price for the company. Needham & Company LLC reissued a “hold” rating on shares of Medtronic in a research report on Friday, May 24th. Wells Fargo & Company increased their target price on shares of Medtronic from $102.00 to $105.00 and gave the company an “overweight” rating in a research report on Friday, May 24th. Finally, Royal Bank of Canada reissued a “sector perform” rating and set a $92.00 target price on shares of Medtronic in a research report on Wednesday, July 17th. Two analysts have rated the stock with a sell rating, five have assigned a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $90.90.

Medtronic Stock Up 0.3 %

Shares of MDT traded up $0.24 during trading hours on Monday, reaching $78.94. The stock had a trading volume of 275,251 shares, compared to its average volume of 6,276,976. Medtronic plc has a 12 month low of $68.84 and a 12 month high of $89.18. The firm has a 50-day simple moving average of $80.36 and a 200 day simple moving average of $82.84. The company has a current ratio of 2.03, a quick ratio of 1.55 and a debt-to-equity ratio of 0.47. The company has a market capitalization of $101.22 billion, a price-to-earnings ratio of 28.62, a P/E/G ratio of 2.29 and a beta of 0.82.

Medtronic (NYSE:MDT) last issued its earnings results on Thursday, May 23rd. The medical technology company reported $1.46 earnings per share (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 last year, the business earned $1.57 EPS. Medtronic’s quarterly revenue was up .5% compared to the same quarter last year. Equities research analysts predict that Medtronic plc will post 5.44 earnings per share for the current fiscal year.

Medtronic Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, July 12th. Shareholders 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 is a boost from Medtronic’s previous quarterly dividend of $0.69. This represents a $2.80 annualized dividend and a yield of 3.55%. Medtronic’s dividend payout ratio (DPR) is 101.82%.

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.