Sheaff Brock Investment Advisors LLC Sells 1,287 Shares of Medtronic plc (NYSE:MDT)

Sheaff Brock Investment Advisors LLC lessened its holdings in Medtronic plc (NYSE:MDT) by 9.4% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund owned 12,413 shares of the medical technology company’s stock after selling 1,287 shares during the period. Sheaff Brock Investment Advisors LLC’s holdings in Medtronic were worth $1,082,000 at the end of the most recent quarter.

Other large investors also recently bought and sold shares of the company. LifeSteps Financial Inc. bought a new stake in Medtronic in the first quarter worth $27,000. MeadowBrook Investment Advisors LLC bought a new position in Medtronic during the fourth quarter valued at $27,000. Tributary Capital Management LLC bought a new position in Medtronic during the first quarter valued at $33,000. Riverview Trust Co bought a new position in Medtronic during the first quarter valued at $39,000. Finally, Fortis Group Advisors LLC increased its position in Medtronic by 100.0% during the fourth quarter. Fortis Group Advisors LLC now owns 460 shares of the medical technology company’s stock valued at $38,000 after acquiring an additional 230 shares during the last quarter. Institutional investors own 82.06% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have weighed in on MDT. UBS Group boosted their price objective 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. Truist Financial cut their price objective on shares of Medtronic from $88.00 to $85.00 and set a “hold” rating on the stock in a research report on Tuesday, July 16th. Needham & Company LLC restated a “hold” rating on shares of Medtronic in a report on Friday, May 24th. Royal Bank of Canada restated a “sector perform” rating and issued a $92.00 price target on shares of Medtronic in a report on Wednesday, July 17th. Finally, The Goldman Sachs Group started coverage on shares of Medtronic in a report on Thursday, May 30th. They issued a “sell” rating and a $83.00 price target on the stock. Two investment analysts have rated the stock with a sell rating, five have assigned a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $90.90.

Insider Buying and Selling at Medtronic

In other Medtronic news, CEO Geoffrey Martha sold 19,113 shares of the stock in a transaction dated Friday, June 7th. The shares were sold at an average price of $83.77, for a total transaction of $1,601,096.01. Following the completion of the sale, the chief executive officer now directly owns 143,348 shares of the company’s stock, valued at $12,008,261.96. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 0.30% of the company’s stock.

Medtronic Stock Up 0.3 %

NYSE:MDT traded up $0.24 during mid-day trading on Friday, reaching $78.70. The company’s stock had a trading volume of 4,573,359 shares, compared to its average volume of 6,318,939. Medtronic plc has a 1 year low of $68.84 and a 1 year high of $91.00. The stock has a fifty day moving average of $80.51 and a 200-day moving average of $82.95. The firm has a market capitalization of $100.91 billion, a PE ratio of 28.81, a price-to-earnings-growth ratio of 2.33 and a beta of 0.82. The company has a quick ratio of 1.55, a current ratio of 2.03 and a debt-to-equity ratio of 0.47.

Medtronic (NYSE:MDT) last released 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 company had revenue of $8.59 billion during the quarter, compared to analyst estimates of $8.44 billion. During the same period in the prior year, the firm earned $1.57 earnings per share. The firm’s revenue for the quarter was up .5% compared to the same quarter last year. Equities research analysts forecast that Medtronic plc will post 5.44 earnings per share for the current year.

Medtronic Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, July 12th. Shareholders of record on Friday, June 28th were given a dividend of $0.70 per share. This represents a $2.80 annualized dividend and a dividend yield of 3.56%. This is a positive change from Medtronic’s previous quarterly dividend of $0.69. The ex-dividend date was Friday, June 28th. Medtronic’s dividend payout ratio is presently 101.82%.

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.