3,146 Shares in Medtronic plc (NYSE:MDT) Bought by Guardian Wealth Advisors LLC

Guardian Wealth Advisors LLC purchased a new position in shares of Medtronic plc (NYSE:MDT) during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 3,146 shares of the medical technology company’s stock, valued at approximately $254,000.

A number of other institutional investors have also recently bought and sold shares of MDT. Toronto Dominion Bank boosted its stake in shares of 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 purchasing an additional 418,648 shares in the last quarter. Viawealth LLC boosted its stake in shares of Medtronic by 3.3% in the 1st quarter. Viawealth LLC now owns 12,085 shares of the medical technology company’s stock valued at $974,000 after purchasing an additional 390 shares in the last quarter. Argent Trust Co boosted its stake in shares of Medtronic by 5.0% in 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 stake in shares of Medtronic by 16.1% in 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. Finally, Biltmore Wealth Management LLC boosted its stake in shares of Medtronic by 3.8% in the 1st quarter. Biltmore Wealth Management LLC now owns 6,867 shares of the medical technology company’s stock valued at $554,000 after purchasing an additional 249 shares in the last quarter. Institutional investors and hedge funds own 80.75% of the company’s stock.

Insider Activity at Medtronic

In other Medtronic news, EVP Brett A. Wall sold 2,000 shares of the company’s stock in a transaction that occurred on Friday, July 14th. The stock was sold at an average price of $87.97, for a total transaction of $175,940.00. Following the completion of the transaction, the executive vice president now owns 23,948 shares of the company’s stock, valued at approximately $2,106,705.56. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other 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 completion of the sale, the executive vice president now owns 23,948 shares of the company’s stock, valued at approximately $2,106,705.56. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Brett A. Wall sold 1,000 shares of the 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 of the company’s stock, valued at approximately $2,799,316.74. The disclosure for this sale can be found here. In the last three months, insiders sold 19,866 shares of company stock worth $1,688,839. 0.30% of the stock is owned by company insiders.

Medtronic Stock Performance

Shares of MDT stock opened at $80.98 on Wednesday. The company has a debt-to-equity ratio of 0.48, a current ratio of 2.42 and a quick ratio of 1.79. The stock has a 50-day moving average of $84.44 and a 200-day moving average of $84.37. Medtronic plc has a one year low of $75.76 and a one year high of $92.02. The stock has a market cap of $107.75 billion, a PE ratio of 29.88, a price-to-earnings-growth ratio of 2.81 and a beta of 0.71.

Medtronic (NYSE:MDT) last issued its quarterly earnings data 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 return on equity of 13.81% and a net margin of 11.47%. 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 firm earned $1.13 EPS. Medtronic’s quarterly revenue was up 4.5% compared to the same quarter last year. As a group, sell-side analysts expect that Medtronic plc will post 5.12 earnings per share for the current year.

Medtronic Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, October 13th. Investors of record on Friday, September 22nd will be given a $0.69 dividend. The ex-dividend date of this dividend is Thursday, September 21st. This represents a $2.76 annualized dividend and a dividend yield of 3.41%. Medtronic’s dividend payout ratio is presently 101.85%.

Analysts Set New Price Targets

Several equities research analysts have recently commented on the stock. Royal Bank of Canada restated a “sector perform” rating and issued a $89.00 target price on shares of Medtronic in a research note on Wednesday, August 23rd. UBS Group upped their price target on shares of Medtronic from $79.00 to $82.00 and gave the stock a “sell” rating in a research report on Wednesday, August 23rd. Morgan Stanley upgraded shares of Medtronic from an “equal weight” rating to an “overweight” rating and set a $104.00 price target on the stock in a research report on Tuesday, May 30th. 22nd Century Group reiterated an “initiates” rating on shares of Medtronic in a research report on Friday, June 30th. Finally, Robert W. Baird assumed coverage on shares of Medtronic in a research report on Tuesday, July 18th. They set a “neutral” rating and a $90.00 price target on the stock. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and seven have issued a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average 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.