Murphy Middleton Hinkle & Parker Inc. Sells 400 Shares of Medtronic plc (NYSE:MDT)

Murphy Middleton Hinkle & Parker Inc. lessened its stake in shares of Medtronic plc (NYSE:MDT) by 5.7% in the 2nd quarter, according to its most recent disclosure with the SEC. The firm owned 6,626 shares of the medical technology company’s stock after selling 400 shares during the period. Murphy Middleton Hinkle & Parker Inc.’s holdings in Medtronic were worth $584,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Sageworth Trust Co bought a new position in Medtronic in the 1st quarter worth $26,000. Laurel Wealth Advisors LLC lifted its position in shares of Medtronic by 250.0% in the first quarter. Laurel Wealth Advisors LLC now owns 350 shares of the medical technology company’s stock valued at $28,000 after acquiring an additional 250 shares in the last quarter. Trivant Custom Portfolio Group LLC purchased a new position in Medtronic in the 1st quarter worth approximately $31,000. Certified Advisory Corp purchased a new stake in Medtronic during the 1st quarter valued at approximately $31,000. Finally, Tucker Asset Management LLC bought a new stake in shares of Medtronic during the first quarter valued at approximately $32,000. Hedge funds and other institutional investors own 80.75% of the company’s stock.

Insiders Place Their Bets

In other news, EVP Brett A. Wall sold 2,000 shares of the stock in a transaction dated 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 directly owns 23,948 shares of the company’s stock, valued at $2,106,705.56. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, EVP Brett A. Wall sold 2,000 shares of the stock in a transaction on Friday, July 14th. The shares were sold at an average price of $87.97, for a total value of $175,940.00. Following the sale, the executive vice president now owns 23,948 shares in the company, valued at $2,106,705.56. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Hoedt Rob Ten sold 5,514 shares of the firm’s stock in a transaction on Monday, July 10th. The stock was sold at an average price of $86.58, for a total transaction of $477,402.12. Following the transaction, the executive vice president now directly owns 43,802 shares of the company’s stock, valued at approximately $3,792,377.16. The disclosure for this sale can be found here. In the last 90 days, insiders sold 19,866 shares of company stock valued at $1,688,839. 0.30% of the stock is owned by company insiders.

Medtronic Stock Up 0.8 %

Medtronic stock traded up $0.69 during midday trading on Thursday, reaching $82.01. The company’s stock had a trading volume of 1,485,119 shares, compared to its average volume of 5,654,653. The stock has a market capitalization of $109.12 billion, a P/E ratio of 30.01, a PEG ratio of 2.81 and a beta of 0.71. 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’s 50-day simple moving average is $84.44 and its 200-day simple moving average is $84.37. Medtronic plc has a 52-week low of $75.76 and a 52-week high of $92.02.

Medtronic (NYSE:MDT) last released its 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. The company had revenue of $7.70 billion for the quarter, compared to the consensus estimate of $7.57 billion. Medtronic had a net margin of 11.47% and a return on equity of 13.81%. Medtronic’s revenue was up 4.5% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.13 EPS. On average, sell-side analysts expect that Medtronic plc will post 5.12 EPS for the current year.

Medtronic Announces Dividend

The company also recently announced 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. This represents a $2.76 annualized dividend and a dividend yield of 3.37%. The ex-dividend date of this dividend is Thursday, September 21st. Medtronic’s payout ratio is 101.85%.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on the company. Wells Fargo & Company increased their target price on Medtronic from $100.00 to $102.00 and gave the company an “overweight” rating in a research report on Wednesday, August 23rd. Mizuho boosted their price objective on shares of Medtronic from $95.00 to $100.00 and gave the company a “buy” rating in a research report on Wednesday, August 23rd. StockNews.com downgraded shares of Medtronic from a “strong-buy” rating to a “buy” rating in a research note on Thursday, September 7th. Royal Bank of Canada reissued a “sector perform” rating and issued a $89.00 price objective on shares of Medtronic in a research note on Wednesday, August 23rd. Finally, Truist Financial decreased their target price on Medtronic from $93.00 to $90.00 in a research report on Friday, May 26th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently 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.