Medtronic plc (NYSE:MDT) Shares Acquired by Mount Yale Investment Advisors LLC

Mount Yale Investment Advisors LLC lifted its holdings in Medtronic plc (NYSE:MDT) by 2.6% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 7,227 shares of the medical technology company’s stock after acquiring an additional 180 shares during the quarter. Mount Yale Investment Advisors LLC’s holdings in Medtronic were worth $630,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Boyar Asset Management Inc. raised its position in Medtronic by 2.6% during the fourth quarter. Boyar Asset Management Inc. now owns 4,655 shares of the medical technology company’s stock valued at $383,000 after acquiring an additional 120 shares in the last quarter. Hall Laurie J Trustee increased its position in shares of Medtronic by 0.3% in the first quarter. Hall Laurie J Trustee now owns 44,015 shares of the medical technology company’s stock valued at $3,835,000 after buying an additional 125 shares in the last quarter. Quent Capital LLC grew its stake in Medtronic by 8.0% in the 1st quarter. Quent Capital LLC now owns 1,680 shares of the medical technology company’s stock valued at $146,000 after acquiring an additional 125 shares during the period. Abbrea Capital LLC lifted its holdings in Medtronic by 2.5% during the first quarter. Abbrea Capital LLC now owns 5,077 shares of the medical technology company’s stock valued at $446,000 after purchasing an additional 125 shares in the last quarter. Finally, Marino Stram & Associates LLC lifted its stake in Medtronic by 1.8% in the 4th quarter. Marino Stram & Associates LLC now owns 7,127 shares of the medical technology company’s stock valued at $587,000 after buying an additional 126 shares in the last quarter. Hedge funds and other institutional investors own 82.06% of the company’s stock.

Medtronic Price Performance

Shares of MDT stock traded up $0.24 during midday trading on Tuesday, reaching $80.24. 753,904 shares of the company traded hands, compared to its average volume of 6,282,170. The firm’s 50 day simple moving average is $80.27 and its two-hundred day simple moving average is $82.79. 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 cap of $102.89 billion, a PE ratio of 29.09, a price-to-earnings-growth ratio of 2.29 and a beta of 0.82. Medtronic plc has a 1-year low of $68.84 and a 1-year high of $89.18.

Medtronic (NYSE:MDT) last issued its quarterly earnings data on Thursday, May 23rd. The medical technology company reported $1.46 earnings per share for the quarter, topping analysts’ consensus estimates of $1.45 by $0.01. Medtronic had a net margin of 11.36% and a return on equity of 13.47%. The business had revenue of $8.59 billion during the quarter, compared to analysts’ expectations of $8.44 billion. During the same period last year, the company posted $1.57 EPS. The company’s revenue was up .5% on a year-over-year basis. On average, equities research analysts expect 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 was paid on Friday, July 12th. Stockholders of record on Friday, June 28th were given a $0.70 dividend. This represents a $2.80 dividend on an annualized basis and a dividend yield of 3.49%. The ex-dividend date was Friday, June 28th. This is a positive change from Medtronic’s previous quarterly dividend of $0.69. Medtronic’s payout ratio is currently 101.82%.

Insiders Place Their Bets

In related news, CEO Geoffrey Martha sold 19,113 shares of the company’s 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 legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.30% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on the stock. Wells Fargo & Company upped their target price on shares of Medtronic from $102.00 to $105.00 and gave the stock an “overweight” rating in a report on Friday, May 24th. Citigroup decreased their price target on Medtronic from $90.00 to $85.00 and set a “neutral” rating on the stock in a research note on Wednesday, July 10th. UBS Group upped their target price on shares of Medtronic from $75.00 to $76.00 and gave the company a “sell” rating in a research report on Friday, May 24th. Needham & Company LLC reissued a “hold” rating on shares of Medtronic in a research report on Friday, May 24th. Finally, Truist Financial lowered their target price on Medtronic from $88.00 to $85.00 and set a “hold” rating for the company in a research note on Tuesday, July 16th. Two equities research analysts have rated the stock with a sell rating, five have given a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $90.90.

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.