Medtronic plc (NYSE:MDT) Shares Purchased by Sciencast Management LP

Sciencast Management LP grew its holdings in shares of Medtronic plc (NYSE:MDT) by 24.1% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 10,758 shares of the medical technology company’s stock after purchasing 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.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Sageworth Trust Co purchased a new stake in shares of Medtronic during the 1st quarter worth approximately $26,000. Laurel Wealth Advisors LLC lifted its stake in Medtronic by 250.0% in the 1st quarter. Laurel Wealth Advisors LLC now owns 350 shares of the medical technology company’s stock valued at $28,000 after buying an additional 250 shares in the last quarter. Trivant Custom Portfolio Group LLC purchased a new stake in Medtronic in the 1st quarter valued at approximately $31,000. Certified Advisory Corp purchased a new stake in Medtronic in the 1st quarter valued at approximately $31,000. Finally, Tucker Asset Management LLC purchased a new stake in Medtronic in the 1st quarter valued at approximately $32,000. Institutional investors and hedge funds own 80.75% of the company’s stock.

Insider Transactions at Medtronic

In other news, EVP Hoedt Rob Ten sold 5,514 shares of the stock in a transaction dated Monday, July 10th. The shares were sold at an average price of $86.58, for a total transaction of $477,402.12. Following the transaction, the executive vice president now owns 43,802 shares of the company’s stock, valued at $3,792,377.16. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, EVP Hoedt Rob Ten sold 5,514 shares of the stock in a transaction dated Monday, July 10th. The shares were sold at an average price of $86.58, for a total transaction of $477,402.12. Following the transaction, the executive vice president now owns 43,802 shares of the company’s stock, valued at $3,792,377.16. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Brett A. Wall sold 2,000 shares of the firm’s 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 directly owns 23,948 shares in the company, valued at approximately $2,106,705.56. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 19,866 shares of company stock valued at $1,688,839. Insiders own 0.30% of the company’s stock.

Wall Street Analyst Weigh In

MDT has been the topic of a number of recent research reports. UBS Group upped their target price on Medtronic from $79.00 to $82.00 and gave the company a “sell” rating in a research note on Wednesday, August 23rd. Oppenheimer reissued a “market perform” rating and set a $89.00 price target on shares of Medtronic in a research note on Wednesday, August 23rd. Robert W. Baird assumed coverage on Medtronic in a research note on Tuesday, July 18th. They set a “neutral” rating and a $90.00 price target on the stock. Truist Financial reduced their price target on Medtronic from $93.00 to $90.00 in a research note on Friday, May 26th. Finally, Stifel Nicolaus increased their price target on Medtronic from $92.00 to $95.00 and gave the stock a “buy” rating in a research note on Tuesday, August 22nd. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $91.67.

Medtronic Stock Down 0.5 %

Shares of NYSE MDT opened at $82.35 on Tuesday. Medtronic plc has a 12-month low of $75.76 and a 12-month high of $92.02. The company has a market cap of $109.57 billion, a P/E ratio of 30.54, a P/E/G ratio of 2.87 and a beta of 0.71. The company has a current ratio of 2.42, a quick ratio of 1.79 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 (NYSE:MDT) last announced its 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 company had revenue of $7.70 billion during the quarter, compared to the consensus estimate of $7.57 billion. Medtronic had a return on equity of 13.81% and a net margin of 11.47%. The company’s revenue was up 4.5% on a year-over-year basis. During the same period last year, the firm earned $1.13 earnings per share. Research analysts anticipate that Medtronic plc will post 5.12 EPS for the current fiscal year.

Medtronic Announces Dividend

The business also recently declared 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 of this dividend is Thursday, September 21st. This represents a $2.76 annualized dividend and a dividend yield of 3.35%. Medtronic’s payout ratio is 101.85%.

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.