Stokes Capital Advisors LLC increased its position in Medtronic plc (NYSE:MDT – Free Report) by 1.3% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 42,388 shares of the medical technology company’s stock after acquiring an additional 564 shares during the quarter. Stokes Capital Advisors LLC’s holdings in Medtronic were worth $3,734,000 at the end of the most recent quarter.
Several other institutional investors have also recently bought and sold shares of MDT. Sageworth Trust Co bought a new position in Medtronic in the 1st quarter worth $26,000. Laurel Wealth Advisors LLC increased 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 worth $28,000 after purchasing an additional 250 shares during the period. Trivant Custom Portfolio Group LLC bought a new position in shares of Medtronic during the 1st quarter worth about $31,000. Certified Advisory Corp bought a new position in shares of Medtronic during the 1st quarter worth about $31,000. Finally, Tucker Asset Management LLC bought a new position in shares of Medtronic during the 1st quarter worth about $32,000. Institutional investors own 80.75% of the company’s stock.
Medtronic Price Performance
NYSE:MDT traded up $1.25 on Monday, reaching $83.02. The stock had a trading volume of 1,791,606 shares, compared to its average volume of 5,677,095. The company has a market capitalization of $110.46 billion, a P/E ratio of 30.69, a price-to-earnings-growth ratio of 2.88 and a beta of 0.71. Medtronic plc has a 1-year low of $75.76 and a 1-year high of $92.02. The company has a quick ratio of 1.79, a current ratio of 2.42 and a debt-to-equity ratio of 0.48. The stock has a fifty day moving average price of $84.16 and a 200-day moving average price of $84.35.
Medtronic Dividend Announcement
The business also recently announced a quarterly dividend, which will be paid on Friday, October 13th. Stockholders of record on Friday, September 22nd will be given a dividend of $0.69 per share. The ex-dividend date is Thursday, September 21st. This represents a $2.76 dividend on an annualized basis and a dividend yield of 3.32%. Medtronic’s payout ratio is 101.85%.
Analyst Upgrades and Downgrades
Several research analysts have recently issued reports on MDT shares. CL King started coverage on shares of Medtronic in a report on Friday, June 30th. They set a “buy” rating and a $106.00 price objective on the stock. UBS Group boosted their price objective on shares of Medtronic from $79.00 to $82.00 and gave the stock a “sell” rating in a report on Wednesday, August 23rd. Sanford C. Bernstein dropped their price objective on shares of Medtronic from $100.00 to $99.00 in a report on Friday, May 26th. Wells Fargo & Company boosted their price objective on shares of Medtronic from $100.00 to $102.00 and gave the stock an “overweight” rating in a report on Wednesday, August 23rd. Finally, Morgan Stanley upgraded shares of Medtronic from an “equal weight” rating to an “overweight” rating and set a $104.00 target price on the stock in a research report on Tuesday, May 30th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat, Medtronic currently has a consensus rating of “Hold” and an average target price of $91.67.
Insider Transactions at Medtronic
In other news, EVP Brett A. Wall sold 1,000 shares of the company’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 transaction of $83,380.00. Following the transaction, the executive vice president now directly owns 33,573 shares in the company, valued at $2,799,316.74. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In related news, EVP Michael Marinaro sold 1,352 shares of the business’s stock in a transaction that occurred on Friday, August 4th. The shares were sold at an average price of $84.11, for a total transaction of $113,716.72. Following the completion of the sale, the executive vice president now directly owns 28,930 shares of the company’s stock, valued at $2,433,302.30. 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 business’s stock in a transaction that occurred 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 sale, the executive vice president now directly owns 33,573 shares of the company’s stock, valued at $2,799,316.74. The disclosure for this sale can be found here. Over the last three months, insiders have sold 19,866 shares of company stock worth $1,688,839. Corporate insiders own 0.30% of the company’s stock.
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.
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