Cypress Wealth Advisors LLC Buys Shares of 3,026 Medtronic PLC (NYSE:MDT)

Cypress Wealth Advisors LLC purchased a new position in shares of Medtronic PLC (NYSE:MDT) in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 3,026 shares of the medical technology company’s stock, valued at approximately $244,000.

A number of other institutional investors have also made changes to their positions in the stock. Waldron LP acquired a new stake in shares of Medtronic PLC in the 1st quarter valued at about $512,000. Acadian Asset Management LLC acquired a new stake in shares of Medtronic PLC in the 1st quarter valued at about $694,000. Riverbridge Partners LLC raised its stake in shares of Medtronic PLC by 0.5% in the 1st quarter. Riverbridge Partners LLC now owns 245,079 shares of the medical technology company’s stock valued at $19,744,000 after purchasing an additional 1,248 shares in the last quarter. First Citizens Bank & Trust Co. raised its stake in shares of Medtronic PLC by 0.6% in the 1st quarter. First Citizens Bank & Trust Co. now owns 11,802 shares of the medical technology company’s stock valued at $951,000 after purchasing an additional 67 shares in the last quarter. Finally, Dock Street Asset Management Inc. acquired a new stake in Medtronic PLC during the first quarter worth about $226,000. 80.75% of the stock is owned by hedge funds and other institutional investors.

In other Medtronic PLC news, Director Richard H. Anderson acquired 5,600 shares of the business’s stock in a transaction dated Wednesday, June 21st. The stock was bought at an average price of $88.90 per share, with a total value of $497,840.00. Following the completion of the acquisition, the director now owns 71,910 shares of the company’s stock, valued at $6,392,799. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Bryan C. Hanson sold 12,000 shares of the company’s stock in a transaction that occurred on Monday, July 17th. The stock was sold at an average price of $88.57, for a total value of $1,062,840.00. The disclosure for this sale can be found here. 0.31% of the stock is owned by insiders.

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Shares of Medtronic PLC (MDT) traded up 0.11% during midday trading on Friday, hitting $81.89. 3,443,968 shares of the stock traded hands. The firm’s 50-day moving average is $82.25 and its 200 day moving average is $83.64. Medtronic PLC has a 52 week low of $69.35 and a 52 week high of $89.72. The company has a market capitalization of $110.93 billion, a price-to-earnings ratio of 27.56 and a beta of 1.03.

Medtronic PLC (NYSE:MDT) last posted its earnings results on Tuesday, August 22nd. The medical technology company reported $1.12 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.08 by $0.04. The business had revenue of $7.39 billion during the quarter, compared to analyst estimates of $7.44 billion. Medtronic PLC had a return on equity of 12.92% and a net margin of 13.75%. The company’s quarterly revenue was up 3.1% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.03 EPS. Equities analysts forecast that Medtronic PLC will post $4.77 earnings per share for the current year.

The business also recently announced a quarterly dividend, which will be paid on Friday, October 20th. Shareholders of record on Friday, September 29th will be issued a dividend of $0.46 per share. This represents a $1.84 dividend on an annualized basis and a yield of 2.25%. The ex-dividend date of this dividend is Thursday, September 28th. Medtronic PLC’s payout ratio is presently 61.95%.

MDT has been the topic of several research reports. Zacks Investment Research lowered shares of Medtronic PLC from a “hold” rating to a “sell” rating in a research note on Tuesday, May 23rd. Evercore ISI reiterated an “outperform” rating and issued a $91.00 price objective (up from $88.50) on shares of Medtronic PLC in a report on Sunday, May 28th. BMO Capital Markets raised their target price on shares of Medtronic PLC from $87.00 to $94.00 and gave the stock an “outperform” rating in a report on Tuesday, May 30th. Morgan Stanley upped their price target on shares of Medtronic PLC from $84.00 to $86.00 and gave the company an “equal weight” rating in a research report on Tuesday, May 30th. Finally, BidaskClub downgraded shares of Medtronic PLC from a “strong-buy” rating to a “buy” rating in a research report on Monday, July 24th. Three analysts have rated the stock with a sell rating, nine have assigned a hold rating and thirteen have given a buy rating to the company. Medtronic PLC currently has an average rating of “Hold” and a consensus target price of $88.78.

About Medtronic PLC

Medtronic Public Limited Company (Medtronic) is a medical technology and services company. The Company develops, manufactures and markets its medical devices and technologies to hospitals, physicians, clinicians and patients in approximately 160 countries. The Company operates in four segments: Cardiac and Vascular Group, Minimally Invasive Technologies Group, Restorative Therapies Group and Diabetes Group.

Institutional Ownership by Quarter for Medtronic PLC (NYSE:MDT)

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