Sanders Morris Harris LLC Invests $413,000 in Medtronic plc (NYSE:MDT)

Sanders Morris Harris LLC bought a new stake in shares of Medtronic plc (NYSE:MDT) during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm bought 4,744 shares of the medical technology company’s stock, valued at approximately $413,000.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Sageworth Trust Co bought a new position in shares of Medtronic during the 1st quarter valued at $26,000. Laurel Wealth Advisors LLC grew its holdings in shares of Medtronic by 250.0% during the 1st 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 during the last quarter. Trivant Custom Portfolio Group LLC bought a new position in shares of Medtronic during the 1st quarter valued at $31,000. Certified Advisory Corp purchased a new stake in Medtronic during the 1st quarter valued at $31,000. Finally, Avalon Trust Co purchased a new stake in Medtronic during the 1st quarter valued at $32,000. Institutional investors own 80.75% of the company’s stock.

Insider Buying and Selling at Medtronic

In other Medtronic news, EVP Gregory L. Smith sold 10,000 shares of the firm’s stock in a transaction dated Wednesday, August 23rd. The shares were 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 directly owns 46,723 shares in the company, valued at approximately $3,917,256.32. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other news, EVP Brett A. Wall sold 2,000 shares of Medtronic stock in a transaction that occurred 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 completion of the sale, the executive vice president now directly owns 23,948 shares in the company, valued at $2,106,705.56. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Gregory L. Smith sold 10,000 shares of Medtronic 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 owned by corporate insiders.

Analysts Set New Price Targets

Several equities research analysts have weighed in on MDT shares. 22nd Century Group reissued an “initiates” rating on shares of Medtronic in a research report on Friday, June 30th. Truist Financial dropped their price target on shares of Medtronic from $93.00 to $90.00 in a research report on Friday, May 26th. Mizuho increased their price target 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. Royal Bank of Canada reissued a “sector perform” rating and set a $89.00 price target on shares of Medtronic in a research report on Wednesday, August 23rd. Finally, CL King assumed coverage on shares of Medtronic in a research report 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 given a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $91.67.

Medtronic Stock Down 0.2 %

Shares of Medtronic stock opened at $81.77 on Friday. 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 company has a 50-day moving average of $84.16 and a 200 day moving average of $84.34. The firm has a market cap of $108.80 billion, a price-to-earnings ratio of 30.17, a PEG ratio of 2.86 and a beta of 0.71. Medtronic plc has a 1 year low of $75.76 and a 1 year high of $92.02.

Medtronic (NYSE:MDT) last issued its quarterly earnings results on Tuesday, August 22nd. The medical technology company reported $1.20 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.11 by $0.09. The company had revenue of $7.70 billion during the quarter, compared to analyst estimates of $7.57 billion. Medtronic had a net margin of 11.47% and a return on equity of 13.81%. Medtronic’s quarterly revenue was up 4.5% compared to the same quarter last year. During the same period last year, the business earned $1.13 EPS. As a group, sell-side analysts anticipate that Medtronic plc will post 5.12 earnings per share for the current fiscal year.

Medtronic Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 13th. Shareholders of record on Friday, September 22nd will be paid a dividend of $0.69 per share. The ex-dividend date of this dividend is Thursday, September 21st. This represents a $2.76 dividend on an annualized basis and a yield of 3.38%. Medtronic’s dividend payout ratio is currently 101.85%.

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.