Medtronic plc (NYSE:MDT) Shares Acquired by CFO4Life Group LLC

CFO4Life Group LLC lifted its stake in shares of Medtronic plc (NYSE:MDT) by 41.0% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 4,135 shares of the medical technology company’s stock after purchasing an additional 1,203 shares during the quarter. CFO4Life Group LLC’s holdings in Medtronic were worth $360,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in MDT. Bank of New York Mellon Corp boosted its position in shares of Medtronic by 3.5% in the 1st quarter. Bank of New York Mellon Corp now owns 21,817,063 shares of the medical technology company’s stock worth $1,901,357,000 after buying an additional 727,931 shares in the last quarter. Norges Bank purchased a new stake in shares of Medtronic in the 4th quarter worth about $1,229,726,000. Sanders Capital LLC boosted its position 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 buying an additional 346,641 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its position 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 buying an additional 101,111 shares in the last quarter. Finally, American Century Companies Inc. lifted its holdings in 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 valued at $806,883,000 after purchasing an additional 649,367 shares in the last quarter. 82.06% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on the stock. UBS Group upped 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. Citigroup reduced their target price on shares of Medtronic from $90.00 to $85.00 and set a “neutral” rating on the stock in a report on Wednesday. Royal Bank of Canada restated a “sector perform” rating and issued a $92.00 target price 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 on the stock in a report on Friday, May 24th. Finally, Needham & Company LLC restated a “hold” rating on shares of Medtronic in a report on Friday, May 24th. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating and five have issued a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $91.09.

Medtronic Trading Up 0.2 %

MDT traded up $0.15 on Friday, reaching $78.22. 3,233,558 shares of the company’s stock were exchanged, compared to its average volume of 6,276,591. The company’s 50 day moving average is $81.28 and its 200-day moving average is $83.20. The company has a market cap of $100.30 billion, a price-to-earnings ratio of 28.38, a PEG ratio of 2.25 and a beta of 0.82. Medtronic plc has a twelve month low of $68.84 and a twelve month high of $91.00. 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 posted its earnings results on Thursday, May 23rd. The medical technology company reported $1.46 earnings per share (EPS) for the quarter, topping 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 firm 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 company earned $1.57 EPS. The company’s revenue was up .5% on a year-over-year basis. Equities analysts predict that Medtronic plc will post 5.44 earnings per share 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 $0.70 dividend. This is an increase from Medtronic’s previous quarterly dividend of $0.69. The ex-dividend date is Friday, June 28th. This represents a $2.80 annualized dividend and a yield of 3.58%. Medtronic’s dividend payout ratio (DPR) is 101.82%.

Insider Buying and Selling at Medtronic

In other Medtronic news, CEO Geoffrey Martha sold 19,113 shares of the 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 owns 143,348 shares of the company’s stock, valued at $12,008,261.96. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.30% of the stock is owned by corporate insiders.

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.