Medtronic PLC (NYSE:MDT) Position Boosted by STA Wealth Management LLC

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STA Wealth Management LLC raised its holdings in shares of Medtronic PLC (NYSE:MDT) by 2.6% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,167 shares of the medical technology company’s stock after acquiring an additional 132 shares during the quarter. STA Wealth Management LLC’s holdings in Medtronic were worth $503,000 at the end of the most recent quarter.

A number of other large investors have also added to or reduced their stakes in MDT. Krane Funds Advisors LLC acquired a new stake in shares of Medtronic during the 2nd quarter valued at about $25,000. Redhawk Wealth Advisors Inc. acquired a new stake in shares of Medtronic during the 2nd quarter valued at about $34,000. Rocky Mountain Advisers LLC lifted its holdings in shares of Medtronic by 100.0% during the 2nd quarter. Rocky Mountain Advisers LLC now owns 400 shares of the medical technology company’s stock valued at $39,000 after buying an additional 200 shares during the last quarter. Stuart Chaussee & Associates Inc. acquired a new stake in shares of Medtronic during the 1st quarter valued at about $48,000. Finally, Ruggie Capital Group acquired a new stake in shares of Medtronic during the 2nd quarter valued at about $52,000. 81.03% of the stock is currently owned by institutional investors.

MDT traded down $0.73 on Monday, hitting $108.94. The company had a trading volume of 2,025,502 shares, compared to its average volume of 4,804,545. The company’s fifty day moving average price is $104.83 and its 200 day moving average price is $95.75. Medtronic PLC has a 1-year low of $81.66 and a 1-year high of $111.24. The company has a debt-to-equity ratio of 0.49, a current ratio of 2.67 and a quick ratio of 2.20. The stock has a market cap of $148.09 billion, a price-to-earnings ratio of 20.87, a price-to-earnings-growth ratio of 2.71 and a beta of 0.65.

Medtronic (NYSE:MDT) last posted its earnings results on Tuesday, August 20th. The medical technology company reported $1.26 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.18 by $0.08. Medtronic had a return on equity of 14.36% and a net margin of 14.41%. The firm had revenue of $7.49 billion during the quarter, compared to analyst estimates of $7.40 billion. During the same period in the previous year, the company earned $1.17 EPS. The company’s revenue for the quarter was up 1.5% on a year-over-year basis. On average, sell-side analysts forecast that Medtronic PLC will post 5.56 EPS for the current year.

The business also recently announced a quarterly dividend, which will be paid on Friday, October 18th. Investors of record on Friday, September 27th will be issued a $0.54 dividend. The ex-dividend date is Thursday, September 26th. This represents a $2.16 annualized dividend and a yield of 1.98%. Medtronic’s dividend payout ratio (DPR) is currently 41.38%.

Several equities research analysts have recently issued reports on MDT shares. Raymond James lifted their price target on Medtronic from $105.00 to $118.00 and gave the company an “outperform” rating in a report on Wednesday, August 21st. Deutsche Bank lifted their price target on Medtronic from $100.00 to $111.00 and gave the company a “buy” rating in a report on Monday, August 19th. BMO Capital Markets lifted their price target on Medtronic from $107.00 to $118.00 and gave the company an “outperform” rating in a report on Wednesday, August 21st. Northland Securities reiterated a “hold” rating and set a $100.00 price target on shares of Medtronic in a report on Wednesday, August 21st. Finally, Stifel Nicolaus lifted their price target on Medtronic from $95.00 to $112.00 and gave the company a “hold” rating in a report on Wednesday, August 21st. Six equities research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the stock. The stock has an average rating of “Buy” and a consensus target price of $114.15.

In other Medtronic news, SVP Bradley E. Lerman sold 6,599 shares of Medtronic stock in a transaction that occurred on Friday, August 2nd. The stock was sold at an average price of $102.02, for a total value of $673,229.98. Following the transaction, the senior vice president now directly owns 105,960 shares of the company’s stock, valued at approximately $10,810,039.20. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, EVP Hooman Hakami sold 82,877 shares of Medtronic stock in a transaction that occurred on Tuesday, September 10th. The stock was sold at an average price of $107.31, for a total value of $8,893,530.87. Following the completion of the transaction, the executive vice president now directly owns 30,761 shares in the company, valued at $3,300,962.91. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 96,914 shares of company stock valued at $10,315,651. Corporate insiders own 0.28% of the company’s stock.

Medtronic Profile

Medtronic plc develops, manufactures, distributes, and sells device-based medical therapies to hospitals, physicians, clinicians, and patients worldwide. It operates through four segments: Cardiac and Vascular Group, Minimally Invasive Therapies Group, Restorative Therapies Group, and Diabetes Group.

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Institutional Ownership by Quarter for Medtronic (NYSE:MDT)

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