Jacobs & Co. CA Has $4.17 Million Position in Medtronic plc (NYSE:MDT)

Jacobs & Co. CA lifted its holdings in Medtronic plc (NYSE:MDT) by 0.6% in the 2nd quarter, Holdings Channel.com reports. The firm owned 47,367 shares of the medical technology company’s stock after buying an additional 298 shares during the quarter. Jacobs & Co. CA’s holdings in Medtronic were worth $4,173,000 as of its most recent SEC filing.

A number of other large investors have also bought and sold shares of the business. Legacy Bridge LLC boosted its holdings in shares of Medtronic by 28.5% in the second quarter. Legacy Bridge LLC now owns 2,590 shares of the medical technology company’s stock valued at $228,000 after buying an additional 575 shares during the period. Buckingham Capital Management Inc. boosted its stake in Medtronic by 6.8% in the 2nd quarter. Buckingham Capital Management Inc. now owns 13,620 shares of the medical technology company’s stock worth $1,200,000 after purchasing an additional 868 shares during the period. Beese Fulmer Investment Management Inc. boosted its position in shares of Medtronic by 0.4% during the second quarter. Beese Fulmer Investment Management Inc. now owns 65,193 shares of the medical technology company’s stock worth $5,744,000 after buying an additional 256 shares during the period. Northwest Investment Counselors LLC boosted its position in Medtronic by 8.5% during the 2nd quarter. Northwest Investment Counselors LLC now owns 30,528 shares of the medical technology company’s stock worth $2,690,000 after acquiring an additional 2,404 shares during the last quarter. Finally, Janiczek Wealth Management LLC boosted its holdings in Medtronic by 7.1% during the second quarter. Janiczek Wealth Management LLC now owns 7,406 shares of the medical technology company’s stock worth $653,000 after purchasing an additional 488 shares during the last quarter. 80.75% of the stock is owned by institutional investors.

Medtronic Trading Up 0.8 %

NYSE:MDT opened at $82.40 on Monday. Medtronic plc has a 1 year low of $75.76 and a 1 year high of $92.02. The stock’s fifty day moving average price is $84.16 and its two-hundred day moving average price is $84.35. The company has a debt-to-equity ratio of 0.48, a current ratio of 2.42 and a quick ratio of 1.79. The company has a market cap of $109.64 billion, a P/E ratio of 30.17, a P/E/G ratio of 2.86 and a beta of 0.71.

Medtronic (NYSE:MDT) last released its quarterly earnings results on Tuesday, August 22nd. The medical technology company reported $1.20 EPS for the quarter, beating analysts’ consensus estimates of $1.11 by $0.09. The firm had revenue of $7.70 billion during the quarter, compared to analyst estimates of $7.57 billion. Medtronic had a net margin of 11.47% and a return on equity of 13.81%. The business’s revenue for the quarter was up 4.5% on a year-over-year basis. During the same period in the previous year, the business earned $1.13 EPS. As a group, analysts expect that Medtronic plc will post 5.12 EPS for the current year.

Medtronic Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 13th. Stockholders of record on Friday, September 22nd will be issued a $0.69 dividend. This represents a $2.76 dividend on an annualized basis and a dividend yield of 3.35%. The ex-dividend date of this dividend is Thursday, September 21st. Medtronic’s payout ratio is currently 101.85%.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on MDT. Truist Financial dropped their price objective on Medtronic from $93.00 to $90.00 in a research note on Friday, May 26th. Stifel Nicolaus upped their price objective on Medtronic from $92.00 to $95.00 and gave the company a “buy” rating in a report on Tuesday, August 22nd. Royal Bank of Canada restated a “sector perform” rating and set a $89.00 target price on shares of Medtronic in a research report on Wednesday, August 23rd. Mizuho raised their price target on Medtronic from $95.00 to $100.00 and gave the stock a “buy” rating in a research report on Wednesday, August 23rd. Finally, StockNews.com downgraded Medtronic from a “strong-buy” rating to a “buy” rating in a report on Thursday, September 7th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $91.67.

Insider Activity

In other Medtronic news, EVP Brett A. Wall sold 2,000 shares of the company’s stock in a transaction dated Friday, July 14th. The shares were sold at an average price of $87.97, for a total transaction of $175,940.00. Following the completion of the sale, 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 is accessible through this link. In other news, EVP Hoedt Rob Ten sold 5,514 shares of the business’s stock in a transaction that occurred on Monday, July 10th. The stock was sold at an average price of $86.58, for a total transaction of $477,402.12. Following the transaction, the executive vice president now directly owns 43,802 shares of the company’s stock, valued at $3,792,377.16. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Brett A. Wall sold 2,000 shares of Medtronic stock in a transaction on Friday, July 14th. The shares were sold at an average price of $87.97, for a total transaction of $175,940.00. Following the completion of the sale, the executive vice president now owns 23,948 shares in the company, valued at approximately $2,106,705.56. The disclosure for this sale can be found here. In the last three months, insiders have sold 19,866 shares of company stock worth $1,688,839. 0.30% of the stock is currently owned by 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.