Medtronic plc (NYSE:MDT) Shares Bought by Bleakley Financial Group LLC

Bleakley Financial Group LLC lifted its position in shares of Medtronic plc (NYSE:MDT) by 13.8% in the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 59,486 shares of the medical technology company’s stock after acquiring an additional 7,202 shares during the period. Bleakley Financial Group LLC’s holdings in Medtronic were worth $4,796,000 as of its most recent filing with the SEC.

Several other institutional investors have also modified their holdings of MDT. Toronto Dominion Bank grew its position in Medtronic by 109.0% in the 1st quarter. Toronto Dominion Bank now owns 802,643 shares of the medical technology company’s stock valued at $64,674,000 after buying an additional 418,648 shares in the last quarter. Argent Trust Co boosted its position in shares of Medtronic by 5.0% during the 1st quarter. Argent Trust Co now owns 40,743 shares of the medical technology company’s stock valued at $3,285,000 after purchasing an additional 1,948 shares in the last quarter. Lincoln National Corp boosted its position in shares of Medtronic by 16.1% during the 1st quarter. Lincoln National Corp now owns 11,669 shares of the medical technology company’s stock valued at $941,000 after purchasing an additional 1,617 shares in the last quarter. Biltmore Wealth Management LLC lifted its stake in Medtronic by 3.8% during the first quarter. Biltmore Wealth Management LLC now owns 6,867 shares of the medical technology company’s stock valued at $554,000 after buying an additional 249 shares in the last quarter. Finally, High Net Worth Advisory Group LLC lifted its stake in Medtronic by 3.1% during the first quarter. High Net Worth Advisory Group LLC now owns 13,806 shares of the medical technology company’s stock valued at $1,113,000 after buying an additional 412 shares in the last quarter. Institutional investors own 80.75% of the company’s stock.

Insider Activity

In related news, EVP Gregory L. Smith sold 10,000 shares of the business’s stock in a transaction on Wednesday, August 23rd. The shares were sold at an average price of $83.84, for a total transaction of $838,400.00. Following the transaction, the executive vice president now owns 46,723 shares of the company’s stock, valued at $3,917,256.32. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, EVP Gregory L. Smith sold 10,000 shares of the business’s stock in a transaction on Wednesday, August 23rd. The shares were sold at an average price of $83.84, for a total transaction of $838,400.00. Following the transaction, the executive vice president now owns 46,723 shares of the company’s stock, valued at $3,917,256.32. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Brett A. Wall sold 1,000 shares of the business’s stock in a transaction on Monday, August 14th. The stock was sold at an average price of $83.38, for a total transaction of $83,380.00. Following the transaction, the executive vice president now directly owns 33,573 shares in the company, valued at approximately $2,799,316.74. 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 90 days. 0.30% of the stock is currently owned by company insiders.

Medtronic Stock Down 0.5 %

NYSE MDT traded down $0.42 during trading on Thursday, reaching $80.29. The company’s stock had a trading volume of 672,731 shares, compared to its average volume of 5,696,700. 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 stock has a market capitalization of $106.83 billion, a PE ratio of 29.78, a PEG ratio of 2.82 and a beta of 0.71. The business has a 50-day moving average price of $84.98 and a 200-day moving average price of $84.49. Medtronic plc has a 1-year low of $75.76 and a 1-year high of $92.39.

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

Medtronic Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, October 13th. Stockholders of record on Friday, September 22nd will be given a $0.69 dividend. This represents a $2.76 dividend on an annualized basis and a dividend yield of 3.44%. The ex-dividend date is Thursday, September 21st. Medtronic’s dividend payout ratio is 101.85%.

Analysts Set New Price Targets

A number of analysts have commented on MDT shares. Stifel Nicolaus upped their price objective on shares of Medtronic from $92.00 to $95.00 and gave the company a “buy” rating in a research note on Tuesday, August 22nd. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $89.00 price objective on shares of Medtronic in a research note on Wednesday, August 23rd. Oppenheimer reaffirmed a “market perform” rating and set a $89.00 price objective on shares of Medtronic in a research note on Wednesday, August 23rd. UBS Group upped their price objective on shares of Medtronic from $79.00 to $82.00 and gave the company a “sell” rating in a research note on Wednesday, August 23rd. Finally, Robert W. Baird began coverage on shares of Medtronic in a research report on Tuesday, July 18th. They issued a “neutral” rating and a $90.00 price target for the company. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $91.67.

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.