Medtronic plc (NYSE:MDT) Position Increased by Uncommon Cents Investing LLC

Uncommon Cents Investing LLC raised its holdings in shares of Medtronic plc (NYSE:MDT) by 2.9% in the 1st quarter, Holdings Channel reports. The firm owned 30,808 shares of the medical technology company’s stock after purchasing an additional 879 shares during the quarter. Uncommon Cents Investing LLC’s holdings in Medtronic were worth $2,685,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also recently added to or reduced their stakes in the company. Fortitude Family Office LLC bought a new stake in Medtronic during the fourth quarter valued at $25,000. Leith Wheeler Investment Counsel Ltd. boosted its holdings in shares of Medtronic by 293.0% during the fourth quarter. Leith Wheeler Investment Counsel Ltd. now owns 316,643 shares of the medical technology company’s stock valued at $26,000 after acquiring an additional 236,064 shares during the period. MeadowBrook Investment Advisors LLC acquired a new position in shares of Medtronic during the fourth quarter valued at $27,000. Financial Gravity Asset Management Inc. boosted its holdings in shares of Medtronic by 317.0% during the third quarter. Financial Gravity Asset Management Inc. now owns 367 shares of the medical technology company’s stock valued at $29,000 after acquiring an additional 279 shares during the period. Finally, Tributary Capital Management LLC acquired a new position in shares of Medtronic during the first quarter valued at $33,000. Institutional investors own 82.06% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on MDT shares. Needham & Company LLC reissued a “hold” rating on shares of Medtronic in a report on Friday, May 24th. Truist Financial reduced their price target on shares of Medtronic from $90.00 to $88.00 and set a “hold” rating for the company in a report on Friday, May 24th. Royal Bank of Canada reissued a “sector perform” rating and set a $92.00 price target on shares of Medtronic in a report on Wednesday, June 5th. The Goldman Sachs Group started coverage on shares of Medtronic in a report on Thursday, May 30th. They set a “sell” rating and a $83.00 price target for the company. Finally, UBS Group boosted their price target on shares of Medtronic from $75.00 to $76.00 and gave the company a “sell” rating in a report on Friday, May 24th. 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’s stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $91.70.

Insiders Place Their Bets

In other Medtronic news, CEO Geoffrey Martha sold 19,113 shares of the business’s stock in a transaction dated 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 sale, the chief executive officer now owns 143,348 shares in the company, valued at approximately $12,008,261.96. The transaction was disclosed in a filing with the SEC, which is available through this link. In other Medtronic news, EVP Michael Marinaro sold 854 shares of the business’s stock in a transaction dated Monday, April 8th. The stock was sold at an average price of $83.14, for a total transaction of $71,001.56. Following the sale, the executive vice president now owns 27,925 shares in the company, valued at approximately $2,321,684.50. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CEO Geoffrey Martha sold 19,113 shares of the business’s 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 sale, the chief executive officer now owns 143,348 shares in the company, valued at approximately $12,008,261.96. The disclosure for this sale can be found here. 0.30% of the stock is owned by company insiders.

Medtronic Price Performance

Medtronic stock traded down $0.20 during midday trading on Thursday, hitting $77.17. The company’s stock had a trading volume of 2,838,401 shares, compared to its average volume of 6,333,819. The company has a quick ratio of 1.55, a current ratio of 2.03 and a debt-to-equity ratio of 0.47. The stock’s 50-day moving average price is $81.64 and its 200-day moving average price is $83.41. Medtronic plc has a 12 month low of $68.84 and a 12 month high of $91.00. The company has a market capitalization of $98.95 billion, a PE ratio of 28.06, a price-to-earnings-growth ratio of 2.25 and a beta of 0.82.

Medtronic (NYSE:MDT) last issued its quarterly earnings results on Thursday, May 23rd. The medical technology company reported $1.46 EPS for the quarter, topping the consensus estimate of $1.45 by $0.01. Medtronic had a net margin of 11.36% and a return on equity of 13.47%. The firm had revenue of $8.59 billion for the quarter, compared to analysts’ expectations of $8.44 billion. During the same period in the previous year, the business earned $1.57 earnings per share. Medtronic’s revenue for the quarter was up .5% compared to the same quarter last year. Analysts anticipate that Medtronic plc will post 5.44 earnings per share for the current fiscal year.

Medtronic Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, July 12th. Shareholders of record on Friday, June 28th will be given a $0.70 dividend. The ex-dividend date of this dividend is 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 3.63%. Medtronic’s payout ratio is 101.82%.

About Medtronic

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.