Hedeker Wealth LLC Buys 186 Shares of Medtronic plc (NYSE:MDT)

Hedeker Wealth LLC raised its stake in shares of Medtronic plc (NYSE:MDT) by 0.4% during the 1st quarter, Holdings Channel.com reports. The fund owned 47,698 shares of the medical technology company’s stock after purchasing an additional 186 shares during the quarter. Hedeker Wealth LLC’s holdings in Medtronic were worth $4,157,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also bought and sold shares of the stock. Morgan Stanley lifted its stake 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 purchasing an additional 1,994,123 shares during the period. Norges Bank bought a new position in shares of Medtronic in the 4th quarter worth approximately $1,229,726,000. Sanders Capital LLC lifted its stake in shares of Medtronic by 2.8% in the 4th quarter. Sanders Capital LLC now owns 12,634,161 shares of the medical technology company’s stock worth $1,040,802,000 after purchasing an additional 346,641 shares during the period. Charles Schwab Investment Management Inc. lifted its stake in shares of Medtronic by 0.9% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 11,089,400 shares of the medical technology company’s stock worth $893,352,000 after purchasing an additional 101,111 shares during the period. Finally, American Century Companies Inc. lifted its stake in shares of Medtronic by 6.7% in the 3rd quarter. American Century Companies Inc. now owns 10,297,135 shares of the medical technology company’s stock worth $806,883,000 after purchasing an additional 649,367 shares during the period. Institutional investors own 82.06% of the company’s stock.

Insider Buying and Selling at Medtronic

In other Medtronic news, EVP Michael Marinaro sold 854 shares of the stock in a transaction that occurred 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 sale, the executive vice president now directly owns 27,925 shares of the company’s stock, valued at approximately $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 the firm’s stock in a transaction on Monday, April 8th. The shares were sold at an average price of $83.14, for a total value of $71,001.56. Following the completion of the transaction, the executive vice president now directly owns 27,925 shares of the company’s stock, valued at $2,321,684.50. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CEO Geoffrey Martha sold 19,113 shares of the firm’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 completion of the transaction, the chief executive officer now directly 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 Price Performance

MDT traded down $0.04 during trading on Wednesday, reaching $77.33. 270,856 shares of the company traded hands, compared to its average volume of 6,298,437. 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 plc has a 12-month low of $68.84 and a 12-month high of $91.00. The firm has a fifty day simple moving average of $81.78 and a 200 day simple moving average of $83.49. The company has a market cap of $99.16 billion, a P/E ratio of 28.13, a PEG ratio of 2.29 and a beta of 0.82.

Medtronic (NYSE:MDT) last announced its quarterly earnings data on Thursday, May 23rd. The medical technology company reported $1.46 earnings per share (EPS) 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 analyst estimates of $8.44 billion. During the same period last year, the firm posted $1.57 EPS. The company’s revenue was up .5% on a year-over-year basis. On average, equities analysts forecast that Medtronic plc will post 5.44 EPS for the current 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 issued a dividend of $0.70 per share. This is a positive change from Medtronic’s previous quarterly dividend of $0.69. This represents a $2.80 dividend on an annualized basis and a yield of 3.62%. The ex-dividend date of this dividend is Friday, June 28th. Medtronic’s dividend payout ratio (DPR) is 101.82%.

Analyst Ratings Changes

Several brokerages have recently weighed in on MDT. Needham & Company LLC reiterated a “hold” rating on shares of Medtronic in a research note on Friday, May 24th. Truist Financial lowered their price objective 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 target price on shares of Medtronic from $102.00 to $105.00 and gave the stock an “overweight” rating in a research note on Friday, May 24th. The Goldman Sachs Group assumed coverage on shares of Medtronic in a research note on Thursday, May 30th. They set a “sell” rating and a $83.00 target price on the stock. Finally, UBS Group raised their target price on shares of Medtronic from $75.00 to $76.00 and gave the stock a “sell” rating in a research note on Friday, May 24th. Two equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $91.70.

About Medtronic

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.