Sciencast Management LP Buys 2,091 Shares of Medtronic plc (NYSE:MDT)

Sciencast Management LP lifted its stake in shares of Medtronic plc (NYSE:MDT) by 24.1% during the 2nd quarter, HoldingsChannel reports. The firm owned 10,758 shares of the medical technology company’s stock after acquiring an additional 2,091 shares during the period. Sciencast Management LP’s holdings in Medtronic were worth $929,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently made changes to their positions in the stock. Fairfield Bush & CO. bought a new stake in shares of Medtronic in the 1st quarter valued at $47,000. MAS Advisors LLC lifted its position in shares of Medtronic by 10.3% during the 1st quarter. MAS Advisors LLC now owns 2,388 shares of the medical technology company’s stock valued at $266,000 after acquiring an additional 223 shares during the period. LSV Asset Management lifted its position in shares of Medtronic by 34.5% during the 1st quarter. LSV Asset Management now owns 7,400 shares of the medical technology company’s stock valued at $821,000 after acquiring an additional 1,900 shares during the period. NewEdge Advisors LLC lifted its position in shares of Medtronic by 22.8% during the 1st quarter. NewEdge Advisors LLC now owns 74,914 shares of the medical technology company’s stock valued at $8,312,000 after acquiring an additional 13,895 shares during the period. Finally, Kinneret Advisory LLC lifted its position in shares of Medtronic by 2.3% during the 1st quarter. Kinneret Advisory LLC now owns 15,340 shares of the medical technology company’s stock valued at $1,712,000 after acquiring an additional 343 shares during the period. 80.75% of the stock is owned by institutional investors.

Insider Activity

In other news, EVP Hoedt Rob Ten sold 5,514 shares of the business’s stock in a transaction on Monday, July 10th. The shares were sold at an average price of $86.58, for a total transaction of $477,402.12. Following the sale, the executive vice president now owns 43,802 shares in the company, valued at approximately $3,792,377.16. The sale was disclosed in a document filed with the SEC, which is accessible through this link. In other news, EVP Hoedt Rob Ten sold 5,514 shares of Medtronic stock in a transaction dated Monday, July 10th. The stock was sold at an average price of $86.58, for a total value of $477,402.12. Following the completion of the transaction, the executive vice president now owns 43,802 shares of the company’s stock, valued at approximately $3,792,377.16. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, EVP Gregory L. Smith sold 10,000 shares of Medtronic stock in a transaction dated Wednesday, August 23rd. The stock was sold at an average price of $83.84, for a total value of $838,400.00. Following the completion of the transaction, the executive vice president now directly owns 46,723 shares of the company’s stock, valued at approximately $3,917,256.32. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 19,866 shares of company stock worth $1,688,839. Corporate insiders own 0.30% of the company’s stock.

Medtronic Stock Down 0.5 %

Shares of Medtronic stock opened at $82.35 on Tuesday. The company has a debt-to-equity ratio of 0.48, a quick ratio of 1.79 and a current ratio of 2.42. Medtronic plc has a 52-week low of $75.76 and a 52-week high of $92.02. The stock has a market capitalization of $109.57 billion, a price-to-earnings ratio of 30.54, a P/E/G ratio of 2.87 and a beta of 0.71. The company’s 50 day moving average price is $84.16 and its 200-day moving average price is $84.35.

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

Medtronic Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, October 13th. Stockholders of record on Friday, September 22nd will be issued a dividend of $0.69 per share. This represents a $2.76 dividend on an annualized basis and a dividend yield of 3.35%. The ex-dividend date is Thursday, September 21st. Medtronic’s dividend payout ratio (DPR) is presently 101.85%.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on MDT shares. Mizuho boosted their target price 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. CL King assumed 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. Morgan Stanley upgraded shares of Medtronic from an “equal weight” rating to an “overweight” rating and set a $104.00 price objective on the stock in a report on Tuesday, May 30th. UBS Group upped 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. Finally, Stifel Nicolaus upped their price objective on shares of Medtronic from $92.00 to $95.00 and gave the stock a “buy” rating in a report on Tuesday, August 22nd. One analyst has rated the stock with a sell rating, seven have given a hold rating and seven have given a buy rating to the company. According to MarketBeat, the stock has a consensus 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.