Moreno Evelyn V Boosts Position in Medtronic plc (NYSE:MDT)

Moreno Evelyn V boosted its position in shares of Medtronic plc (NYSE:MDTFree Report) by 7.7% in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 75,290 shares of the medical technology company’s stock after acquiring an additional 5,402 shares during the quarter. Medtronic accounts for 1.4% of Moreno Evelyn V’s portfolio, making the stock its 29th biggest holding. Moreno Evelyn V’s holdings in Medtronic were worth $6,070,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of MDT. Fairfield Bush & CO. bought a new stake in Medtronic during the first quarter valued at about $47,000. MAS Advisors LLC grew its holdings in Medtronic by 10.3% during the first quarter. MAS Advisors LLC now owns 2,388 shares of the medical technology company’s stock valued at $266,000 after purchasing an additional 223 shares during the period. LSV Asset Management grew its holdings in Medtronic by 34.5% during the first quarter. LSV Asset Management now owns 7,400 shares of the medical technology company’s stock valued at $821,000 after purchasing an additional 1,900 shares during the period. NewEdge Advisors LLC boosted its stake in shares of Medtronic by 22.8% in the first quarter. NewEdge Advisors LLC now owns 74,914 shares of the medical technology company’s stock worth $8,312,000 after acquiring an additional 13,895 shares during the period. Finally, Kinneret Advisory LLC boosted its stake in shares of Medtronic by 2.3% in the first quarter. Kinneret Advisory LLC now owns 15,340 shares of the medical technology company’s stock worth $1,712,000 after acquiring an additional 343 shares during the period. Hedge funds and other institutional investors own 80.75% of the company’s stock.

Medtronic Trading Up 0.8 %

Shares of NYSE MDT traded up $0.63 during midday trading on Monday, hitting $82.13. The company’s stock had a trading volume of 4,238,800 shares, compared to its average volume of 5,722,769. The company has a current ratio of 2.42, a quick ratio of 1.79 and a debt-to-equity ratio of 0.48. The business’s 50 day moving average is $85.33 and its two-hundred day moving average is $84.56. Medtronic plc has a 12-month low of $75.76 and a 12-month high of $92.39. The firm has a market cap of $109.28 billion, a P/E ratio of 30.31, a price-to-earnings-growth ratio of 2.89 and a beta of 0.71.

Medtronic (NYSE:MDTGet Free Report) last issued its quarterly earnings results on Tuesday, August 22nd. The medical technology company reported $1.20 earnings per share for the quarter, topping the consensus estimate of $1.11 by $0.09. Medtronic had a return on equity of 13.81% and a net margin of 11.47%. The firm had revenue of $7.70 billion for the quarter, compared to the consensus estimate of $7.57 billion. During the same period in the prior year, the business posted $1.13 earnings per share. The company’s revenue for the quarter was up 4.5% on a year-over-year basis. As a group, equities research analysts expect that Medtronic plc will post 5.12 EPS for the current year.

Medtronic Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 13th. Investors of record on Friday, September 22nd will be paid a $0.69 dividend. The ex-dividend date is Thursday, September 21st. This represents a $2.76 annualized dividend and a yield of 3.36%. Medtronic’s dividend payout ratio (DPR) is currently 101.85%.

Analyst Ratings Changes

A number of research firms have recently weighed in on MDT. Robert W. Baird began coverage on Medtronic in a research note on Tuesday, July 18th. They issued a “neutral” rating and a $90.00 price objective for the company. 22nd Century Group reaffirmed an “initiates” rating on shares of Medtronic in a research note on Friday, June 30th. Stifel Nicolaus increased their price target on Medtronic from $92.00 to $95.00 and gave the company a “buy” rating in a research note on Tuesday, August 22nd. Wells Fargo & Company increased their price target on Medtronic from $100.00 to $102.00 and gave the company an “overweight” rating in a research note on Wednesday, August 23rd. Finally, Truist Financial dropped their price target on Medtronic from $93.00 to $90.00 in a research note on Friday, May 26th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating, six have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, Medtronic currently has a consensus rating of “Hold” and an average price target of $91.67.

View Our Latest Research Report on MDT

Insider Buying and Selling

In related news, EVP Brett A. Wall sold 2,000 shares of the stock in a transaction that occurred on Friday, July 14th. The stock was sold at an average price of $87.97, for a total value of $175,940.00. Following the transaction, the executive vice president now owns 23,948 shares of the company’s stock, valued at $2,106,705.56. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In related news, EVP Brett A. Wall sold 2,000 shares of the stock in a transaction that occurred on Friday, July 14th. The stock was sold at an average price of $87.97, for a total value of $175,940.00. Following the transaction, the executive vice president now owns 23,948 shares of the company’s stock, valued at $2,106,705.56. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, EVP Hoedt Rob Ten sold 5,514 shares of the stock in a transaction that occurred on Monday, July 10th. The stock was sold at an average price of $86.58, for a total value of $477,402.12. Following the completion of the transaction, the executive vice president now directly owns 43,802 shares in the company, valued at approximately $3,792,377.16. The disclosure for this sale can be found here. Insiders have sold a total of 19,866 shares of company stock valued at $1,688,839 over the last quarter. 0.30% of the stock is owned by corporate insiders.

Medtronic Profile

(Free Report)

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.

Further Reading

Institutional Ownership by Quarter for Medtronic (NYSE:MDT)

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