Janiczek Wealth Management LLC Buys 3,845 Shares of Medtronic plc (NYSE:MDT)

Janiczek Wealth Management LLC raised its holdings in shares of Medtronic plc (NYSE:MDT) by 131.6% in the first quarter, HoldingsChannel.com reports. The firm owned 6,767 shares of the medical technology company’s stock after buying an additional 3,845 shares during the period. Janiczek Wealth Management LLC’s holdings in Medtronic were worth $590,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Morgan Stanley boosted its holdings in shares of Medtronic by 9.2% in the 3rd quarter. Morgan Stanley now owns 23,777,808 shares of the medical technology company’s stock worth $1,863,229,000 after buying an additional 1,994,123 shares during the last quarter. Norges Bank purchased a new stake in Medtronic during the fourth quarter valued at about $1,229,726,000. Sanders Capital LLC lifted its holdings in Medtronic by 2.8% during the fourth quarter. Sanders Capital LLC now owns 12,634,161 shares of the medical technology company’s stock valued at $1,040,802,000 after purchasing an additional 346,641 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in Medtronic by 0.9% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 11,089,400 shares of the medical technology company’s stock valued at $893,352,000 after purchasing an additional 101,111 shares during the last quarter. Finally, American Century Companies Inc. lifted its holdings in Medtronic by 6.7% during the third quarter. American Century Companies Inc. now owns 10,297,135 shares of the medical technology company’s stock valued at $806,883,000 after purchasing an additional 649,367 shares during the last quarter. Institutional investors own 82.06% of the company’s stock.

Analyst Upgrades and Downgrades

MDT has been the topic of a number of recent analyst reports. Truist Financial lowered their price target on shares of Medtronic from $90.00 to $88.00 and set a “hold” rating on the stock in a report on Friday, May 24th. UBS Group increased their price target on shares of Medtronic from $75.00 to $76.00 and gave the stock a “sell” rating in a report on Friday, May 24th. Needham & Company LLC reissued a “hold” rating on shares of Medtronic in a report on Friday, May 24th. Wells Fargo & Company increased their price target on shares of Medtronic from $102.00 to $105.00 and gave the stock an “overweight” rating in a report on Friday, May 24th. Finally, Royal Bank of Canada reissued a “sector perform” rating and issued a $92.00 price target 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 issued a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $93.00.

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 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 completion of the transaction, the chief executive officer now owns 143,348 shares of the company’s stock, valued at $12,008,261.96. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In other news, EVP Michael Marinaro sold 854 shares of the firm’s stock in a transaction 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 completion of the transaction, the executive vice president now directly owns 27,925 shares in the company, valued at $2,321,684.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Geoffrey Martha sold 19,113 shares of Medtronic stock in a transaction dated Friday, June 7th. The stock was 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 of the company’s stock, valued at $12,008,261.96. The disclosure for this sale can be found here. Insiders own 0.30% of the company’s stock.

Medtronic Trading Down 1.3 %

MDT stock traded down $1.01 on Thursday, reaching $79.04. The company’s stock had a trading volume of 4,337,265 shares, compared to its average volume of 6,282,782. The business has a fifty day simple moving average of $81.87 and a two-hundred day simple moving average of $83.53. Medtronic plc has a 12-month low of $68.84 and a 12-month high of $91.00. The firm has a market cap of $101.35 billion, a PE ratio of 28.68, a PEG ratio of 2.34 and a beta of 0.83. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.55 and a current ratio of 2.03.

Medtronic (NYSE:MDT) last announced its quarterly earnings results on Thursday, May 23rd. The medical technology company reported $1.46 EPS for the quarter, topping 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 during the quarter, compared to analyst estimates of $8.44 billion. During the same quarter last year, the firm posted $1.57 earnings per share. The firm’s revenue was up .5% on a year-over-year basis. As a group, research analysts forecast that Medtronic plc will post 5.44 EPS for the current year.

Medtronic Increases Dividend

The company 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 dividend of $0.70 per share. The ex-dividend date is Friday, June 28th. This represents a $2.80 annualized dividend and a yield of 3.54%. This is a positive change from Medtronic’s previous quarterly dividend of $0.69. Medtronic’s dividend payout ratio (DPR) is currently 100.36%.

Medtronic Company 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.