Medtronic plc (NYSE:MDT) Shares Purchased by Burns J W & Co. Inc. NY

Burns J W & Co. Inc. NY increased its holdings in Medtronic plc (NYSE:MDT) by 17.4% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 3,276 shares of the medical technology company’s stock after buying an additional 486 shares during the quarter. Burns J W & Co. Inc. NY’s holdings in Medtronic were worth $286,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Fortitude Family Office LLC acquired a new position in Medtronic in the 4th quarter worth approximately $25,000. MeadowBrook Investment Advisors LLC acquired a new stake in shares of Medtronic during the 4th quarter worth approximately $27,000. Financial Gravity Asset Management Inc. grew its stake in shares of Medtronic by 317.0% during the 3rd quarter. Financial Gravity Asset Management Inc. now owns 367 shares of the medical technology company’s stock worth $29,000 after purchasing an additional 279 shares during the period. Riverview Trust Co acquired a new stake in shares of Medtronic during the 1st quarter worth approximately $39,000. Finally, Fortis Group Advisors LLC grew its stake in shares of Medtronic by 100.0% during the 4th quarter. Fortis Group Advisors LLC now owns 460 shares of the medical technology company’s stock worth $38,000 after purchasing an additional 230 shares during the period. Institutional investors and hedge funds own 82.06% of the company’s stock.

Medtronic Trading Up 0.1 %

Shares of MDT stock opened at $78.71 on Friday. The stock’s fifty day moving average is $81.85 and its two-hundred day moving average is $83.52. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.55 and a current ratio of 2.03. The firm has a market capitalization of $100.93 billion, a P/E ratio of 28.62, a PEG ratio of 2.29 and a beta of 0.83. Medtronic plc has a fifty-two week low of $68.84 and a fifty-two week high of $91.00.

Medtronic (NYSE:MDT) last announced its quarterly earnings data on Thursday, May 23rd. The medical technology company reported $1.46 earnings per share for the quarter, beating analysts’ consensus estimates of $1.45 by $0.01. Medtronic had a return on equity of 13.47% and a net margin of 11.36%. The company had revenue of $8.59 billion for the quarter, compared to analyst estimates of $8.44 billion. During the same quarter last year, the firm posted $1.57 EPS. The firm’s revenue for the quarter was up .5% on a year-over-year basis. Research analysts expect that Medtronic plc will post 5.44 earnings per share for the current fiscal year.

Medtronic Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, July 12th. Stockholders of record on Friday, June 28th will be issued a dividend of $0.70 per share. This represents a $2.80 annualized dividend and a dividend yield of 3.56%. The ex-dividend date of this dividend is Friday, June 28th. This is a positive change from Medtronic’s previous quarterly dividend of $0.69. Medtronic’s payout ratio is currently 100.36%.

Analyst Ratings Changes

A number of brokerages have recently commented on MDT. Wells Fargo & Company raised their price objective on shares of Medtronic from $102.00 to $105.00 and gave the stock an “overweight” rating in a research note on Friday, May 24th. UBS Group raised their price objective on shares of Medtronic from $75.00 to $76.00 and gave the stock a “sell” rating in a research note on Friday, May 24th. Truist Financial dropped their price objective on shares of Medtronic from $90.00 to $88.00 and set a “hold” rating on the stock in a research note on Friday, May 24th. The Goldman Sachs Group started coverage on Medtronic in a research report on Thursday, May 30th. They set a “sell” rating and a $83.00 target price on the stock. Finally, Royal Bank of Canada reiterated a “sector perform” rating and set a $92.00 target price on shares of Medtronic in a research report on Wednesday, June 5th. Two investment analysts have rated the stock with a sell rating, five have assigned a hold rating and six have given a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $93.00.

Insider Transactions at Medtronic

In other news, CEO Geoffrey Martha sold 19,113 shares of Medtronic stock in a transaction on Friday, June 7th. The stock was sold at an average price of $83.77, for a total transaction of $1,601,096.01. Following the transaction, the chief executive officer now owns 143,348 shares in the company, valued at approximately $12,008,261.96. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In related news, CEO Geoffrey Martha sold 19,113 shares of the firm’s stock in a transaction dated Friday, June 7th. The stock was sold at an average price of $83.77, for a total transaction of $1,601,096.01. Following the completion of the sale, the chief executive officer now directly owns 143,348 shares of the company’s stock, valued at approximately $12,008,261.96. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Michael Marinaro sold 854 shares of the firm’s stock in a transaction dated Monday, April 8th. The stock was sold at an average price of $83.14, for a total value of $71,001.56. Following the sale, the executive vice president now directly owns 27,925 shares of the company’s stock, valued at $2,321,684.50. The disclosure for this sale can be found here. Insiders own 0.30% of the company’s stock.

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.