Medtronic plc (NYSE:MDT) Shares Purchased by Janiczek Wealth Management LLC

Janiczek Wealth Management LLC raised its position in Medtronic plc (NYSE:MDT) by 131.6% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 6,767 shares of the medical technology company’s stock after purchasing an additional 3,845 shares during the quarter. Janiczek Wealth Management LLC’s holdings in Medtronic were worth $590,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently made changes to their positions in the company. Exeter Financial LLC increased its stake in shares of Medtronic by 31.0% in the first quarter. Exeter Financial LLC now owns 9,391 shares of the medical technology company’s stock valued at $788,000 after purchasing an additional 2,222 shares during the period. Agate Pass Investment Management LLC increased its stake in shares of Medtronic by 5.2% in the first quarter. Agate Pass Investment Management LLC now owns 19,893 shares of the medical technology company’s stock valued at $1,734,000 after purchasing an additional 979 shares during the period. Signet Financial Management LLC boosted its holdings in shares of Medtronic by 5.3% in the first quarter. Signet Financial Management LLC now owns 3,120 shares of the medical technology company’s stock valued at $272,000 after acquiring an additional 157 shares in the last quarter. Wealthcare Advisory Partners LLC boosted its holdings in shares of Medtronic by 21.4% in the first quarter. Wealthcare Advisory Partners LLC now owns 8,378 shares of the medical technology company’s stock valued at $730,000 after acquiring an additional 1,476 shares in the last quarter. Finally, Corundum Group Inc. bought a new position in shares of Medtronic in the first quarter valued at approximately $491,000. Institutional investors and hedge funds own 82.06% of the company’s stock.

Medtronic Stock Down 1.3 %

Shares of Medtronic stock traded down $1.01 during midday trading on Thursday, reaching $79.04. 4,337,265 shares of the company’s stock traded hands, compared to its average volume of 6,282,782. The company has a market cap of $101.35 billion, a price-to-earnings ratio of 28.68, a price-to-earnings-growth ratio of 2.34 and a beta of 0.83. The company’s 50 day simple moving average is $81.87 and its 200 day simple moving average is $83.53. 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 52 week low of $68.84 and a 52 week high of $91.00.

Medtronic (NYSE:MDT) last released its quarterly earnings results 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. The business had revenue of $8.59 billion for the quarter, compared to the consensus estimate of $8.44 billion. Medtronic had a net margin of 11.36% and a return on equity of 13.47%. Medtronic’s revenue for the quarter was up .5% on a year-over-year basis. During the same quarter last year, the firm earned $1.57 EPS. Equities analysts expect that Medtronic plc will post 5.44 earnings per share for the current fiscal year.

Medtronic Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, July 12th. Investors of record on Friday, June 28th will be paid a $0.70 dividend. The ex-dividend date is Friday, June 28th. 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 3.54%. Medtronic’s dividend payout ratio (DPR) is presently 100.36%.

Insider Activity at Medtronic

In related news, 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 value of $1,601,096.01. Following the transaction, the chief executive officer now directly owns 143,348 shares in the company, valued at approximately $12,008,261.96. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other Medtronic news, 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 value 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, 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 sale, the executive vice president now owns 27,925 shares in the company, 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.

Analysts Set New Price Targets

MDT has been the subject of several recent analyst reports. Royal Bank of Canada reiterated a “sector perform” rating and issued a $92.00 price objective on shares of Medtronic in a report on Wednesday, June 5th. Truist Financial reduced their target price on shares of 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 raised their target price on shares of Medtronic from $102.00 to $105.00 and gave the stock an “overweight” rating in a report on Friday, May 24th. 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 report on Friday, May 24th. Finally, The Goldman Sachs Group assumed coverage on shares of Medtronic in a report on Thursday, May 30th. They set a “sell” rating and a $83.00 target price for the company. Two investment analysts have rated the stock with a sell rating, five have issued a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $93.00.

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.