Hurlow Wealth Management Group Inc. Acquires 400 Shares of Medtronic plc (NYSE:MDT)

Hurlow Wealth Management Group Inc. boosted its holdings in Medtronic plc (NYSE:MDT) by 13.4% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 3,383 shares of the medical technology company’s stock after buying an additional 400 shares during the quarter. Hurlow Wealth Management Group Inc.’s holdings in Medtronic were worth $298,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. 180 Wealth Advisors LLC increased its position in Medtronic by 5.7% during the 2nd quarter. 180 Wealth Advisors LLC now owns 24,213 shares of the medical technology company’s stock valued at $2,110,000 after purchasing an additional 1,296 shares during the period. Thrive Wealth Management LLC acquired a new stake in Medtronic during the 2nd quarter valued at approximately $347,000. Tlwm increased its position in Medtronic by 2.6% during the 2nd quarter. Tlwm now owns 8,533 shares of the medical technology company’s stock valued at $752,000 after purchasing an additional 215 shares during the period. LifePro Asset Management acquired a new stake in Medtronic during the 2nd quarter valued at approximately $275,000. Finally, Jacobs & Co. CA increased its position in Medtronic by 0.6% during the 2nd quarter. Jacobs & Co. CA now owns 47,367 shares of the medical technology company’s stock valued at $4,173,000 after purchasing an additional 298 shares during the period. Institutional investors own 80.75% of the company’s stock.

Medtronic Stock Performance

Medtronic stock traded up $1.25 during midday trading 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. Medtronic plc has a 12 month low of $75.76 and a 12 month high of $92.02. The firm’s 50-day moving average price is $84.16 and its 200 day moving average price is $84.35. The firm has a market capitalization of $110.46 billion, a PE ratio of 30.69, a P/E/G ratio of 2.88 and a beta of 0.71. The company has a quick ratio of 1.79, a current ratio of 2.42 and a debt-to-equity ratio of 0.48.

Medtronic (NYSE:MDT) last posted its earnings results on Tuesday, August 22nd. The medical technology company reported $1.20 earnings per share for the quarter, beating analysts’ consensus estimates of $1.11 by $0.09. The business had revenue of $7.70 billion during the quarter, compared to analyst estimates of $7.57 billion. Medtronic had a return on equity of 13.81% and a net margin of 11.47%. The company’s quarterly 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. As a group, research analysts predict that Medtronic plc will post 5.12 earnings per share for the current fiscal year.

Medtronic Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, October 13th. Shareholders 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 yield of 3.32%. The ex-dividend date is Thursday, September 21st. Medtronic’s payout ratio is presently 101.85%.

Analysts Set New Price Targets

A number of research firms have weighed in on MDT. Oppenheimer reissued a “market perform” rating and set a $89.00 target price on shares of Medtronic in a research report on Wednesday, August 23rd. 22nd Century Group reaffirmed an “initiates” rating on shares of Medtronic in a research report on Friday, June 30th. Morgan Stanley raised shares of Medtronic from an “equal weight” rating to an “overweight” rating and set a $104.00 price objective for the company in a research report on Tuesday, May 30th. Mizuho lifted 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. Finally, UBS Group lifted their price target on shares of Medtronic from $79.00 to $82.00 and gave the company a “sell” rating in a research report on Wednesday, August 23rd. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat, Medtronic currently has a consensus rating of “Hold” and a consensus target price of $91.67.

Insider Buying and Selling at Medtronic

In other Medtronic news, EVP Brett A. Wall sold 2,000 shares of Medtronic stock in a transaction dated Friday, July 14th. The stock was sold at an average price of $87.97, for a total transaction of $175,940.00. Following the completion of the transaction, the executive vice president now owns 23,948 shares of the company’s stock, valued at approximately $2,106,705.56. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, EVP Brett A. Wall sold 2,000 shares of the company’s 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 transaction, the executive vice president now directly owns 23,948 shares in the company, valued at $2,106,705.56. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP Michael Marinaro sold 1,352 shares of the company’s stock in a transaction that occurred on Friday, August 4th. The stock was sold at an average price of $84.11, for a total transaction of $113,716.72. Following the completion of the transaction, the executive vice president now owns 28,930 shares in the company, valued at $2,433,302.30. The disclosure for this sale can be found here. Insiders sold 19,866 shares of company stock valued at $1,688,839 in the last quarter. 0.30% of the stock is currently owned by corporate insiders.

Medtronic 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.