Demars Financial Group LLC Acquires 2,181 Shares of Medtronic plc (NYSE:MDT)

Demars Financial Group LLC increased its holdings in shares of Medtronic plc (NYSE:MDT) by 30.1% in the second quarter, according to its most recent filing with the SEC. The fund owned 9,419 shares of the medical technology company’s stock after acquiring an additional 2,181 shares during the period. Medtronic comprises 0.4% of Demars Financial Group LLC’s portfolio, making the stock its 27th biggest position. Demars Financial Group LLC’s holdings in Medtronic were worth $741,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. Raymond James & Associates lifted its stake in shares of Medtronic by 5.7% during the 2nd quarter. Raymond James & Associates now owns 6,246,361 shares of the medical technology company’s stock worth $491,651,000 after acquiring an additional 336,618 shares during the last quarter. Signet Investment Advisory Group Inc. lifted its stake in shares of Medtronic by 7.0% during the 2nd quarter. Signet Investment Advisory Group Inc. now owns 20,567 shares of the medical technology company’s stock worth $1,619,000 after acquiring an additional 1,353 shares during the last quarter. Boomfish Wealth Group LLC lifted its stake in shares of Medtronic by 3.3% during the 2nd quarter. Boomfish Wealth Group LLC now owns 15,879 shares of the medical technology company’s stock worth $1,250,000 after acquiring an additional 501 shares during the last quarter. Allen Wealth Management LLC lifted its stake in shares of Medtronic by 7.0% during the 2nd quarter. Allen Wealth Management LLC now owns 17,494 shares of the medical technology company’s stock worth $1,377,000 after acquiring an additional 1,138 shares during the last quarter. Finally, TCW Group Inc. lifted its stake in shares of Medtronic by 0.6% during the 2nd quarter. TCW Group Inc. now owns 75,773 shares of the medical technology company’s stock worth $5,964,000 after acquiring an additional 453 shares during the last quarter. 82.06% of the stock is owned by institutional investors.

Insider Buying and Selling

In other Medtronic news, CEO Geoffrey Martha sold 19,113 shares of the business’s stock in a transaction dated 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 sale, the chief executive officer now owns 143,348 shares in the company, valued at approximately $12,008,261.96. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 0.30% of the stock is owned by company insiders.

Medtronic Stock Up 1.1 %

Shares of MDT traded up $0.95 during trading hours on Friday, hitting $84.60. The company had a trading volume of 5,374,797 shares, compared to its average volume of 6,239,440. The company has a market capitalization of $108.48 billion, a PE ratio of 30.76, a price-to-earnings-growth ratio of 2.35 and a beta of 0.82. The company has a current ratio of 2.03, a quick ratio of 1.55 and a debt-to-equity ratio of 0.47. Medtronic plc has a one year low of $68.84 and a one year high of $89.18. The company’s fifty day moving average price is $80.00 and its two-hundred day moving average price is $82.30.

Medtronic (NYSE:MDT) last announced its earnings results on Thursday, May 23rd. The medical technology company reported $1.46 earnings per share for the quarter, topping the consensus estimate of $1.45 by $0.01. Medtronic had a return on equity of 13.47% and a net margin of 11.36%. The firm had revenue of $8.59 billion for the quarter, compared to the consensus estimate of $8.44 billion. During the same period in the previous year, the business earned $1.57 EPS. The firm’s revenue for the quarter was up .5% on a year-over-year basis. As a group, equities analysts forecast that Medtronic plc will post 5.44 earnings per share for the current fiscal year.

Medtronic Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, October 11th. Investors of record on Friday, September 27th will be paid a dividend of $0.70 per share. The ex-dividend date of this dividend is Friday, September 27th. This represents a $2.80 annualized dividend and a yield of 3.31%. Medtronic’s dividend payout ratio (DPR) is 101.82%.

Analyst Upgrades and Downgrades

MDT has been the subject of a number of research analyst reports. Stifel Nicolaus lowered Medtronic from a “buy” rating to a “hold” rating and decreased their target price for the company from $100.00 to $85.00 in a research report on Wednesday. Citigroup decreased their target price on Medtronic from $90.00 to $85.00 and set a “neutral” rating for the company in a research report on Wednesday, July 10th. Wells Fargo & Company lifted their target price on Medtronic from $102.00 to $105.00 and gave the company an “overweight” rating in a research report on Friday, May 24th. Truist Financial decreased their target price on Medtronic from $88.00 to $85.00 and set a “hold” rating for the company in a research report on Tuesday, July 16th. Finally, Royal Bank of Canada reaffirmed a “sector perform” rating and set a $92.00 target price on shares of Medtronic in a research report on Wednesday, July 17th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and four have issued a buy rating to the stock. According to MarketBeat, Medtronic presently has a consensus rating of “Hold” and an average target price of $91.30.

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.