Medtronic plc (NYSE:MDT) Holdings Cut by Doliver Advisors LP

Doliver Advisors LP decreased its stake in Medtronic plc (NYSE:MDTFree Report) by 2.9% in the first quarter, Holdings Channel reports. The institutional investor owned 14,716 shares of the medical technology company’s stock after selling 447 shares during the quarter. Doliver Advisors LP’s holdings in Medtronic were worth $1,282,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Equity Investment Corp increased its stake in shares of Medtronic by 27.9% during the 4th quarter. Equity Investment Corp now owns 1,341,079 shares of the medical technology company’s stock worth $110,478,000 after purchasing an additional 292,459 shares during the last quarter. Loudon Investment Management LLC increased its stake in shares of Medtronic by 9.5% during the 4th quarter. Loudon Investment Management LLC now owns 10,026 shares of the medical technology company’s stock worth $786,000 after purchasing an additional 874 shares during the last quarter. BKM Wealth Management LLC acquired a new position in shares of Medtronic during the 4th quarter worth $941,000. International Assets Investment Management LLC grew its stake in Medtronic by 8,340.3% in the 4th quarter. International Assets Investment Management LLC now owns 1,038,579 shares of the medical technology company’s stock valued at $85,558,000 after buying an additional 1,026,274 shares during the last quarter. Finally, Tower Research Capital LLC TRC grew its stake in Medtronic by 69.3% in the 3rd quarter. Tower Research Capital LLC TRC now owns 40,476 shares of the medical technology company’s stock valued at $3,172,000 after buying an additional 16,574 shares during the last quarter. Hedge funds and other institutional investors own 82.06% of the company’s stock.

Insider Buying and Selling at Medtronic

In other Medtronic news, CEO Geoffrey Martha sold 19,113 shares of the firm’s stock in a transaction dated Friday, June 7th. The shares were sold at an average price of $83.77, for a total value of $1,601,096.01. Following the completion of the sale, 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 filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Medtronic news, CEO Geoffrey Martha sold 19,113 shares of the firm’s stock in a transaction dated Friday, June 7th. The shares were sold at an average price of $83.77, for a total value of $1,601,096.01. Following the completion of the sale, 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 filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Michael Marinaro sold 854 shares of Medtronic stock in a transaction that occurred on Monday, April 8th. The stock was sold at an average price of $83.14, for a total transaction of $71,001.56. Following the sale, the executive vice president now owns 27,925 shares of the company’s stock, valued at approximately $2,321,684.50. The disclosure for this sale can be found here. Corporate insiders own 0.30% of the company’s stock.

Medtronic Price Performance

MDT stock traded down $0.60 during trading on Monday, hitting $81.04. 6,773,275 shares of the stock traded hands, compared to its average volume of 6,311,500. Medtronic plc has a one year low of $68.84 and a one year high of $91.00. The stock has a market cap of $107.61 billion, a price-to-earnings ratio of 29.47, a P/E/G ratio of 2.34 and a beta of 0.83. The company has a 50 day simple moving average of $81.82 and a 200 day simple moving average of $83.55. The company has a current ratio of 2.03, a quick ratio of 1.55 and a debt-to-equity ratio of 0.47.

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

Medtronic Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, July 12th. Shareholders of record on Friday, June 28th will be given a $0.70 dividend. This represents a $2.80 annualized dividend and a yield of 3.46%. The ex-dividend date is Friday, June 28th. This is a boost from Medtronic’s previous quarterly dividend of $0.69. Medtronic’s dividend payout ratio (DPR) is presently 100.36%.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on MDT. Truist Financial lowered their target price 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. Wells Fargo & Company raised their price target on shares of Medtronic from $102.00 to $105.00 and gave the stock an “overweight” rating in a research report on Friday, May 24th. Royal Bank of Canada restated a “sector perform” rating and issued a $92.00 price target on shares of Medtronic in a research report on Wednesday, June 5th. The Goldman Sachs Group started coverage on shares of Medtronic in a report on Thursday, May 30th. They set a “sell” rating and a $83.00 price objective for the company. Finally, 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 report on Friday, May 24th. Two equities research analysts have rated the stock with a sell rating, five have given a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $93.00.

Check Out Our Latest Stock Report on Medtronic

About Medtronic

(Free Report)

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.

Further Reading

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Institutional Ownership by Quarter for Medtronic (NYSE:MDT)

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