Applied Capital LLC FL Sells 390 Shares of Medtronic plc (NYSE:MDT)

Applied Capital LLC FL reduced its position in shares of Medtronic plc (NYSE:MDT) by 5.4% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 6,882 shares of the medical technology company’s stock after selling 390 shares during the period. Applied Capital LLC FL’s holdings in Medtronic were worth $555,000 at the end of the most recent quarter.

Other large investors also recently made changes to their positions in the company. Sageworth Trust Co bought a new position in shares of Medtronic during the first quarter valued at about $26,000. Laurel Wealth Advisors LLC lifted its position in shares of Medtronic by 250.0% during the first quarter. Laurel Wealth Advisors LLC now owns 350 shares of the medical technology company’s stock valued at $28,000 after purchasing an additional 250 shares in the last quarter. Tucker Asset Management LLC bought a new position in shares of Medtronic during the first quarter valued at about $32,000. Avalon Trust Co bought a new position in shares of Medtronic during the first quarter valued at about $32,000. Finally, Thompson Investment Management Inc. purchased a new stake in Medtronic during the first quarter worth about $37,000. 80.75% of the stock is owned by institutional investors.

Medtronic Price Performance

Medtronic stock traded down $0.01 during mid-day trading on Wednesday, hitting $80.19. 2,061,674 shares of the company traded hands, compared to its average volume of 5,699,981. Medtronic plc has a one year low of $75.76 and a one year high of $92.39. The stock has a market cap of $106.70 billion, a price-to-earnings ratio of 29.59, a price-to-earnings-growth ratio of 2.89 and a beta of 0.71. The company has a debt-to-equity ratio of 0.48, a quick ratio of 1.79 and a current ratio of 2.42. The stock has a fifty day moving average price of $85.09 and a 200-day moving average price of $84.51.

Medtronic (NYSE:MDT) last announced its earnings results on Tuesday, August 22nd. The medical technology company reported $1.20 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.11 by $0.09. Medtronic had a net margin of 11.47% and a return on equity of 13.81%. The business had revenue of $7.70 billion during the quarter, compared to analyst estimates of $7.57 billion. During the same period in the previous year, the business posted $1.13 earnings per share. Medtronic’s revenue for the quarter was up 4.5% on a year-over-year basis. On average, equities analysts predict that Medtronic plc will post 5.12 earnings per share for the current fiscal year.

Medtronic Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, October 13th. Shareholders of record on Friday, September 22nd will be given a dividend of $0.69 per share. The ex-dividend date of this dividend is Thursday, September 21st. This represents a $2.76 annualized dividend and a yield of 3.44%. Medtronic’s payout ratio is presently 101.85%.

Insider Transactions at Medtronic

In other news, EVP Brett A. Wall sold 1,000 shares of the business’s stock in a transaction that occurred on Monday, August 14th. The shares were sold at an average price of $83.38, for a total value of $83,380.00. Following the completion of the sale, the executive vice president now directly owns 33,573 shares in the company, valued at approximately $2,799,316.74. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In other news, EVP Brett A. Wall sold 1,000 shares of the business’s stock in a transaction that occurred on Monday, August 14th. The shares were sold at an average price of $83.38, for a total value of $83,380.00. Following the completion of the sale, the executive vice president now directly owns 33,573 shares in the company, valued at approximately $2,799,316.74. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Gregory L. Smith sold 10,000 shares of the business’s stock in a transaction that occurred on Wednesday, August 23rd. The stock was sold at an average price of $83.84, for a total transaction of $838,400.00. Following the completion of the sale, the executive vice president now owns 46,723 shares of the company’s stock, valued at $3,917,256.32. The disclosure for this sale can be found here. In the last ninety days, insiders sold 19,866 shares of company stock worth $1,688,839. 0.30% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

MDT has been the subject of a number of research analyst reports. Oppenheimer restated a “market perform” rating and set a $89.00 price objective on shares of Medtronic in a report on Wednesday, August 23rd. Sanford C. Bernstein decreased their price objective on shares of Medtronic from $100.00 to $99.00 in a report on Friday, May 26th. StockNews.com upgraded shares of Medtronic from a “buy” rating to a “strong-buy” rating in a report on Wednesday, August 30th. Truist Financial decreased their price objective on shares of Medtronic from $93.00 to $90.00 in a report on Friday, May 26th. Finally, CL King started coverage on shares of Medtronic in a research note on Friday, June 30th. They issued a “buy” rating and a $106.00 target price for the company. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $91.67.

Medtronic 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.