Marietta Wealth Management LLC Takes Position in Medtronic PLC (NYSE:MDT)

Marietta Wealth Management LLC acquired a new stake in Medtronic PLC (NYSE:MDT) during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund acquired 12,029 shares of the medical technology company’s stock, valued at approximately $969,000.

A number of other hedge funds also recently modified their holdings of MDT. Intellectus Partners LLC bought a new stake in shares of Medtronic PLC during the fourth quarter valued at approximately $130,000. Baystate Wealth Management LLC raised its stake in shares of Medtronic PLC by 40.9% in the first quarter. Baystate Wealth Management LLC now owns 1,959 shares of the medical technology company’s stock valued at $157,000 after buying an additional 569 shares during the period. North Star Investment Management Corp. raised its position in Medtronic PLC by 4.4% in the first quarter. North Star Investment Management Corp. now owns 1,973 shares of the medical technology company’s stock valued at $159,000 after buying an additional 83 shares during the last quarter. SRS Capital Advisors Inc. purchased a new stake in shares of Medtronic PLC during the fourth quarter valued at $141,000. Finally, Liberty Capital Management Inc. increased its stake in shares of Medtronic PLC by 45.6% in the first quarter. Liberty Capital Management Inc. now owns 2,111 shares of the medical technology company’s stock valued at $170,000 after buying an additional 661 shares during the period. Institutional investors and hedge funds own 83.36% of the company’s stock.

Medtronic PLC (MDT) traded down 0.64% during mid-day trading on Tuesday, hitting $83.83. 3,816,734 shares of the stock were exchanged. The firm has a market cap of $113.93 billion, a price-to-earnings ratio of 29.01 and a beta of 1.02. The company has a 50 day moving average price of $86.89 and a 200 day moving average price of $82.57. Medtronic PLC has a 52-week low of $69.35 and a 52-week high of $89.72.

Medtronic PLC (NYSE:MDT) last announced its quarterly earnings data on Thursday, May 25th. The medical technology company reported $1.33 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.31 by $0.02. The company had revenue of $7.92 billion for the quarter, compared to analysts’ expectations of $7.86 billion. Medtronic PLC had a net margin of 13.56% and a return on equity of 12.72%. Medtronic PLC’s revenue was up 4.6% compared to the same quarter last year. During the same period in the previous year, the company posted $1.27 EPS. On average, analysts anticipate that Medtronic PLC will post $4.81 EPS for the current year.

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, July 26th. Shareholders of record on Friday, July 7th were paid a $0.46 dividend. This is a boost from Medtronic PLC’s previous quarterly dividend of $0.43. This represents a $1.84 annualized dividend and a yield of 2.19%. The ex-dividend date was Wednesday, July 5th. Medtronic PLC’s payout ratio is currently 63.67%.

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MDT has been the subject of several analyst reports. Evercore ISI raised their price target on shares of Medtronic PLC from $88.00 to $88.50 and gave the company an “outperform” rating in a research report on Wednesday, April 19th. Royal Bank Of Canada reaffirmed a “buy” rating and issued a $85.00 target price on shares of Medtronic PLC in a research report on Tuesday, April 18th. Goldman Sachs Group, Inc. (The) began coverage on shares of Medtronic PLC in a research report on Tuesday, May 16th. They issued a “neutral” rating and a $87.00 target price for the company. Zacks Investment Research downgraded shares of Medtronic PLC from a “hold” rating to a “sell” rating in a research report on Tuesday, May 23rd. Finally, BMO Capital Markets lifted their target price on shares of Medtronic PLC from $87.00 to $94.00 and gave the stock an “outperform” rating in a research report on Tuesday, May 30th. Three equities research analysts have rated the stock with a sell rating, nine have given a hold rating and fifteen have given a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average price target of $89.84.

In related news, EVP Bryan C. Hanson sold 12,000 shares of the stock in a transaction dated Monday, July 17th. The shares were sold at an average price of $88.57, for a total value of $1,062,840.00. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Richard H. Anderson acquired 5,600 shares of the stock in a transaction that occurred on Wednesday, June 21st. The stock was acquired at an average cost of $88.90 per share, for a total transaction of $497,840.00. Following the completion of the purchase, the director now owns 71,910 shares in the company, valued at approximately $6,392,799. The disclosure for this purchase can be found here. Insiders own 0.25% of the company’s stock.

Medtronic PLC Company Profile

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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