XML Financial LLC Acquires 460 Shares of Medtronic plc (NYSE:MDT)

XML Financial LLC increased its holdings in shares of Medtronic plc (NYSE:MDT) by 4.3% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 11,185 shares of the medical technology company’s stock after purchasing an additional 460 shares during the period. XML Financial LLC’s holdings in Medtronic were worth $880,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. MeadowBrook Investment Advisors LLC bought a new position in shares of Medtronic during the 4th quarter valued at about $27,000. LifeSteps Financial Inc. bought a new stake in Medtronic in the 1st quarter valued at $27,000. Lynx Investment Advisory bought a new stake in Medtronic in the 2nd quarter valued at $28,000. Tributary Capital Management LLC bought a new position in Medtronic during the 1st quarter worth $33,000. Finally, Fortis Group Advisors LLC increased its position in shares of Medtronic by 100.0% in the fourth 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 period. Institutional investors own 82.06% of the company’s stock.

Insider Activity

In other 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 transaction of $1,601,096.01. Following the transaction, 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 Securities & Exchange Commission, which can be accessed through this link. Insiders own 0.30% of the company’s stock.

Medtronic Trading Up 2.5 %

Shares of Medtronic stock traded up $2.13 during midday trading on Wednesday, reaching $87.51. The company had a trading volume of 10,608,284 shares, compared to its average volume of 6,302,077. The stock has a fifty day moving average price of $80.21 and a 200 day moving average price of $82.30. The company has a debt-to-equity ratio of 0.47, a current ratio of 2.03 and a quick ratio of 1.55. Medtronic plc has a fifty-two week low of $68.84 and a fifty-two week high of $89.18. The firm has a market cap of $112.21 billion, a PE ratio of 31.82, a P/E/G ratio of 2.35 and a beta of 0.82.

Medtronic (NYSE:MDT) last posted its quarterly earnings data on Tuesday, August 20th. The medical technology company reported $1.23 earnings per share for the quarter, topping the consensus estimate of $1.20 by $0.03. Medtronic had a return on equity of 13.47% and a net margin of 11.36%. The business had revenue of $7.97 billion for the quarter, compared to analysts’ expectations of $7.90 billion. During the same quarter in the previous year, the firm earned $1.20 earnings per share. The business’s revenue was up 3.4% on a year-over-year basis. On average, equities analysts anticipate that Medtronic plc will post 5.44 earnings per share for the current year.

Medtronic Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, October 11th. Shareholders of record on Friday, September 27th will be given a $0.70 dividend. The ex-dividend date is Friday, September 27th. This represents a $2.80 annualized dividend and a yield of 3.20%. Medtronic’s dividend payout ratio is currently 101.82%.

Wall Street Analyst Weigh In

A number of brokerages recently commented on MDT. The Goldman Sachs Group began coverage on Medtronic in a research report on Thursday, May 30th. They issued a “sell” rating and a $83.00 price target on the stock. Wells Fargo & Company raised their price target on Medtronic from $105.00 to $106.00 and gave the stock an “overweight” rating in a research report on Wednesday. Royal Bank of Canada restated a “sector perform” rating and issued a $92.00 price target on shares of Medtronic in a research report on Wednesday. Citigroup decreased their price target on Medtronic from $90.00 to $85.00 and set a “neutral” rating on the stock in a research report on Wednesday, July 10th. Finally, UBS Group upgraded Medtronic from a “sell” rating to a “neutral” rating and raised their price target for the stock from $76.00 to $90.00 in a research report on Thursday, August 15th. One analyst has rated the stock with a sell rating, nine have given a hold rating and four have given a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $91.50.

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.