Oliver Luxxe Assets LLC purchased a new position in shares of Medtronic plc (NYSE:MDT - Free Report) in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 58,757 shares of the medical technology company's stock, valued at approximately $5,121,000.
Several other large investors have also bought and sold shares of the business. BKM Wealth Management LLC increased its position in shares of Medtronic by 6.3% in the 1st quarter. BKM Wealth Management LLC now owns 12,135 shares of the medical technology company's stock valued at $1,058,000 after buying an additional 714 shares in the last quarter. Wolff Wiese Magana LLC raised its position in Medtronic by 2.4% in the 1st quarter. Wolff Wiese Magana LLC now owns 16,911 shares of the medical technology company's stock valued at $1,474,000 after buying an additional 389 shares during the last quarter. LVW Advisors LLC boosted its position in Medtronic by 25.9% during the 1st quarter. LVW Advisors LLC now owns 15,892 shares of the medical technology company's stock worth $1,385,000 after acquiring an additional 3,271 shares during the last quarter. Roberts Wealth Advisors LLC grew its stake in shares of Medtronic by 2.4% during the 1st quarter. Roberts Wealth Advisors LLC now owns 47,569 shares of the medical technology company's stock worth $3,816,000 after acquiring an additional 1,137 shares in the last quarter. Finally, AMI Investment Management Inc. lifted its position in shares of Medtronic by 5.1% in the first quarter. AMI Investment Management Inc. now owns 35,164 shares of the medical technology company's stock worth $3,070,000 after purchasing an additional 1,716 shares in the last quarter. 82.06% of the stock is currently owned by institutional investors and hedge funds.
Medtronic Price Performance
Medtronic stock traded down $1.59 during mid-day trading on Monday, reaching $77.12. The company had a trading volume of 6,467,229 shares, compared to its average volume of 6,335,422. The business has a fifty day simple moving average of $81.85 and a 200 day simple moving average of $83.53. The company has a market cap of $98.89 billion, a P/E ratio of 28.07, a P/E/G ratio of 2.29 and a beta of 0.82. Medtronic plc has a fifty-two week low of $68.84 and a fifty-two week high of $91.00. 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:MDT - Get Free Report) last issued its quarterly earnings data on Thursday, May 23rd. The medical technology company reported $1.46 earnings per share for the quarter, topping analysts' consensus estimates of $1.45 by $0.01. The business had revenue of $8.59 billion for the quarter, compared to analyst estimates of $8.44 billion. Medtronic had a return on equity of 13.47% and a net margin of 11.36%. Medtronic's quarterly revenue was up .5% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.57 EPS. On average, equities research analysts predict that Medtronic plc will post 5.44 earnings per share for the current year.
Medtronic Increases Dividend
The firm also recently declared a quarterly dividend, which will be paid on Friday, July 12th. Stockholders of record on Friday, June 28th will be paid a dividend of $0.70 per share. The ex-dividend date of this dividend is Friday, June 28th. This represents a $2.80 annualized dividend and a dividend yield of 3.63%. This is an increase from Medtronic's previous quarterly dividend of $0.69. Medtronic's dividend payout ratio (DPR) is presently 101.82%.
Insider Transactions at Medtronic
In other news, EVP Michael Marinaro sold 854 shares of the 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 completion of the sale, the executive vice president now owns 27,925 shares of the company's stock, valued at $2,321,684.50. The sale was disclosed in a legal filing with the SEC, which is available at this link. In related news, EVP Michael Marinaro sold 854 shares of Medtronic stock in a transaction on Monday, April 8th. The shares were sold at an average price of $83.14, for a total transaction of $71,001.56. Following the completion of the transaction, the executive vice president now owns 27,925 shares of the company's stock, valued at $2,321,684.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Geoffrey Martha sold 19,113 shares of the company's stock in a transaction on Friday, June 7th. The shares were sold at an average price of $83.77, for a total transaction of $1,601,096.01. Following the sale, the chief executive officer now directly owns 143,348 shares in the company, valued at approximately $12,008,261.96. The disclosure for this sale can be found here. 0.30% of the stock is owned by company insiders.
Wall Street Analyst Weigh In
MDT has been the subject of several analyst reports. The Goldman Sachs Group initiated coverage on Medtronic in a report on Thursday, May 30th. They issued a "sell" rating and a $83.00 price objective for the company. UBS Group upped their price target on shares of Medtronic from $75.00 to $76.00 and gave the company a "sell" rating in a research note on Friday, May 24th. Truist Financial reduced their price objective on Medtronic from $90.00 to $88.00 and set a "hold" rating for the company in a report on Friday, May 24th. Wells Fargo & Company increased their target price on Medtronic from $102.00 to $105.00 and gave the stock an "overweight" rating in a research note on Friday, May 24th. Finally, Royal Bank of Canada reissued a "sector perform" rating and set a $92.00 target price on shares of Medtronic in a report on Wednesday, June 5th. Two equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and five have given a buy rating to the company. According to MarketBeat.com, Medtronic currently has an average rating of "Hold" and a consensus target price of $91.70.
Check Out Our Latest 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.
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