Medtronic plc (NYSE:MDT) Shares Bought by Physician Wealth Advisors Inc.

Physician Wealth Advisors Inc. raised its stake in Medtronic plc (NYSE:MDT) by 22.6% in the 1st quarter, HoldingsChannel.com reports. The fund owned 3,042 shares of the medical technology company’s stock after purchasing an additional 561 shares during the period. Physician Wealth Advisors Inc.’s holdings in Medtronic were worth $241,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also made changes to their positions in MDT. Dark Forest Capital Management LP boosted its stake in shares of Medtronic by 45.8% during the third quarter. Dark Forest Capital Management LP now owns 4,626 shares of the medical technology company’s stock worth $362,000 after buying an additional 1,454 shares during the period. Mather Group LLC. lifted its position in Medtronic by 22.7% in the third quarter. Mather Group LLC. now owns 6,988 shares of the medical technology company’s stock valued at $548,000 after purchasing an additional 1,295 shares during the period. Tower Research Capital LLC TRC lifted its position in Medtronic by 69.3% in the third quarter. Tower Research Capital LLC TRC now owns 40,476 shares of the medical technology company’s stock valued at $3,172,000 after purchasing an additional 16,574 shares during the period. Cape Cod Five Cents Savings Bank acquired a new stake in Medtronic in the third quarter valued at about $199,000. Finally, Rehmann Capital Advisory Group lifted its position in Medtronic by 16.4% in the third quarter. Rehmann Capital Advisory Group now owns 18,349 shares of the medical technology company’s stock valued at $1,438,000 after purchasing an additional 2,588 shares during the period. Institutional investors and hedge funds 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 business’s stock in a transaction dated 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 completion of the transaction, the chief executive officer now directly owns 143,348 shares of the company’s stock, valued at approximately $12,008,261.96. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other news, CEO Geoffrey Martha sold 19,113 shares of the company’s stock in a transaction that occurred on 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 directly owns 143,348 shares of the company’s stock, valued at approximately $12,008,261.96. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Michael Marinaro sold 854 shares of the company’s 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 completion of the sale, the executive vice president now directly owns 27,925 shares of the company’s stock, valued at $2,321,684.50. The disclosure for this sale can be found here. 0.30% of the stock is currently owned by company insiders.

Analyst Ratings Changes

MDT has been the subject of a number of recent analyst reports. The Goldman Sachs Group initiated coverage on shares of Medtronic in a research report on Thursday, May 30th. They issued a “sell” rating and a $83.00 price objective for the company. Wells Fargo & Company raised their price objective on shares of Medtronic from $102.00 to $105.00 and gave the company an “overweight” rating in a research report on Friday, May 24th. UBS Group increased their target price on shares of Medtronic from $75.00 to $76.00 and gave the company a “sell” rating in a report on Friday, May 24th. Needham & Company LLC reaffirmed a “hold” rating on shares of Medtronic in a report on Friday, May 24th. Finally, Royal Bank of Canada reaffirmed a “sector perform” rating and issued 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 issued a hold rating and six have given a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $93.00.

Medtronic Stock Up 0.1 %

MDT stock traded up $0.08 during trading on Friday, reaching $78.71. The stock had a trading volume of 8,917,219 shares, compared to its average volume of 6,371,193. Medtronic plc has a 1-year low of $68.84 and a 1-year 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. The company has a market capitalization of $100.93 billion, a P/E ratio of 28.62, a PEG ratio of 2.29 and a beta of 0.83. The firm has a fifty day moving average price of $81.85 and a 200 day moving average price of $83.52.

Medtronic (NYSE:MDT) last announced its quarterly earnings data on Thursday, May 23rd. The medical technology company reported $1.46 earnings per share for the quarter, beating analysts’ consensus estimates of $1.45 by $0.01. Medtronic had a net margin of 11.36% and a return on equity of 13.47%. The business had revenue of $8.59 billion during the quarter, compared to the consensus estimate of $8.44 billion. During the same quarter in the prior year, the firm earned $1.57 EPS. The company’s revenue for the quarter was up .5% compared to the same quarter last year. On average, equities analysts anticipate that Medtronic plc will post 5.44 earnings per share for the current year.

Medtronic Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, July 12th. Shareholders of record on Friday, June 28th will be paid a dividend of $0.70 per share. This represents a $2.80 dividend on an annualized basis and a yield of 3.56%. This is a positive change from Medtronic’s previous quarterly dividend of $0.69. The ex-dividend date of this dividend is Friday, June 28th. Medtronic’s payout ratio is presently 100.36%.

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.