Dudley Capital Management LLC Acquires 485 Shares of Medtronic plc (NYSE:MDT)

Dudley Capital Management LLC boosted its holdings in shares of Medtronic plc (NYSE:MDT) by 2.9% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 17,305 shares of the medical technology company’s stock after purchasing an additional 485 shares during the period. Dudley Capital Management LLC’s holdings in Medtronic were worth $1,525,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of MDT. Vestor Capital LLC raised its holdings in shares of Medtronic by 995.4% during the second quarter. Vestor Capital LLC now owns 5,488 shares of the medical technology company’s stock valued at $153,000 after acquiring an additional 4,987 shares in the last quarter. Loudon Investment Management LLC increased its position in Medtronic by 2.6% during the 2nd quarter. Loudon Investment Management LLC now owns 9,279 shares of the medical technology company’s stock valued at $817,000 after purchasing an additional 238 shares during the period. Kingswood Wealth Advisors LLC bought a new position in Medtronic in the 2nd quarter worth $338,000. ICW Investment Advisors LLC raised its holdings in Medtronic by 3.8% in the 2nd quarter. ICW Investment Advisors LLC now owns 14,747 shares of the medical technology company’s stock worth $1,299,000 after purchasing an additional 542 shares in the last quarter. Finally, AGF Management Ltd. purchased a new stake in shares of Medtronic in the 2nd quarter worth about $800,000. Hedge funds and other institutional investors own 80.75% of the company’s stock.

Insider Activity

In related news, EVP Gregory L. Smith sold 10,000 shares of the firm’s stock in a transaction on Wednesday, August 23rd. The stock was sold at an average price of $83.84, for a total value of $838,400.00. Following 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 sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Insiders own 0.30% of the company’s stock.

Medtronic Price Performance

Shares of NYSE:MDT opened at $72.18 on Tuesday. The business has a 50-day simple moving average of $75.69 and a two-hundred day simple moving average of $82.42. The company has a debt-to-equity ratio of 0.48, a quick ratio of 1.79 and a current ratio of 2.42. The firm has a market cap of $96.04 billion, a price-to-earnings ratio of 26.60, a price-to-earnings-growth ratio of 2.48 and a beta of 0.71. Medtronic plc has a fifty-two week low of $68.84 and a fifty-two week high of $92.02.

Medtronic (NYSE:MDT) last released its quarterly earnings results on Tuesday, August 22nd. The medical technology company reported $1.20 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 the consensus estimate of $7.57 billion. During the same period in the previous year, the company posted $1.13 EPS. The business’s quarterly revenue was up 4.5% compared to the same quarter last year. On average, analysts expect that Medtronic plc will post 5.12 earnings per share for the current year.

Medtronic Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, October 13th. Stockholders of record on Friday, September 22nd were paid a dividend of $0.69 per share. This represents a $2.76 annualized dividend and a dividend yield of 3.82%. The ex-dividend date of this dividend was Thursday, September 21st. Medtronic’s dividend payout ratio is presently 101.85%.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on the stock. StockNews.com assumed coverage on shares of Medtronic in a research note on Thursday, October 5th. They issued a “buy” rating for the company. Oppenheimer restated a “market perform” rating and set a $89.00 price target on shares of Medtronic in a research report on Wednesday, August 23rd. Wells Fargo & Company raised their price objective on Medtronic from $100.00 to $102.00 and gave the company an “overweight” rating in a research report on Wednesday, August 23rd. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $89.00 target price on shares of Medtronic in a research report on Wednesday, August 23rd. 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 for the company. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and seven have issued a buy rating to the company’s stock. According to MarketBeat.com, Medtronic currently has an average rating of “Hold” and a consensus price target of $91.94.

Medtronic Company Profile

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.