15,956 Shares in Medtronic plc (NYSE:MDT) Purchased by Klein Pavlis & Peasley Financial Inc.

Klein Pavlis & Peasley Financial Inc. acquired a new position in Medtronic plc (NYSE:MDT) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 15,956 shares of the medical technology company’s stock, valued at approximately $1,256,000.

Other institutional investors have also added to or reduced their stakes in the company. LS Investment Advisors LLC boosted its holdings in Medtronic by 4.3% during the 2nd quarter. LS Investment Advisors LLC now owns 13,210 shares of the medical technology company’s stock valued at $1,040,000 after acquiring an additional 540 shares during the period. Eagle Bay Advisors LLC boosted its stake in shares of Medtronic by 146.0% during the second quarter. Eagle Bay Advisors LLC now owns 1,614 shares of the medical technology company’s stock valued at $128,000 after purchasing an additional 958 shares during the period. Patriot Financial Group Insurance Agency LLC boosted its stake in shares of Medtronic by 14.1% during the second quarter. Patriot Financial Group Insurance Agency LLC now owns 21,199 shares of the medical technology company’s stock valued at $1,669,000 after purchasing an additional 2,624 shares during the period. AustralianSuper Pty Ltd grew its holdings in shares of Medtronic by 4.6% in the second quarter. AustralianSuper Pty Ltd now owns 74,952 shares of the medical technology company’s stock worth $5,899,000 after purchasing an additional 3,307 shares during the last quarter. Finally, GAM Holding AG increased its stake in Medtronic by 8.0% in the 2nd quarter. GAM Holding AG now owns 108,890 shares of the medical technology company’s stock worth $8,571,000 after buying an additional 8,088 shares during the period. Institutional investors own 82.06% of the company’s stock.

Medtronic Stock Down 0.6 %

Shares of NYSE MDT traded down $0.54 during trading hours on Tuesday, hitting $88.80. 4,174,544 shares of the stock were exchanged, compared to its average volume of 6,292,763. Medtronic plc has a 12 month low of $68.84 and a 12 month high of $90.13. The firm has a fifty day moving average price of $80.67 and a 200-day moving average price of $82.30. The company has a quick ratio of 1.55, a current ratio of 2.03 and a debt-to-equity ratio of 0.47. The company has a market cap of $113.87 billion, a PE ratio of 32.29, a PEG ratio of 2.35 and a beta of 0.82.

Medtronic (NYSE:MDT) last released its quarterly earnings results on Tuesday, August 20th. The medical technology company reported $1.23 EPS for the quarter, beating analysts’ consensus estimates of $1.20 by $0.03. Medtronic had a return on equity of 13.47% and a net margin of 11.36%. The company had revenue of $7.97 billion during the quarter, compared to analysts’ expectations of $7.90 billion. During the same period last year, the business posted $1.20 earnings per share. The firm’s revenue was up 3.4% compared to the same quarter last year. On average, sell-side analysts expect that Medtronic plc will post 5.44 EPS for the current year.

Medtronic Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, October 11th. Shareholders of record on Friday, September 27th will be given a dividend of $0.70 per share. This represents a $2.80 annualized dividend and a yield of 3.15%. The ex-dividend date is Friday, September 27th. Medtronic’s dividend payout ratio is presently 101.82%.

Insider Buying and Selling 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 stock was sold at an average price of $83.77, for a total value of $1,601,096.01. Following the completion of the transaction, the chief executive officer now owns 143,348 shares in the company, valued at approximately $12,008,261.96. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.30% of the stock is currently owned by company insiders.

Analyst Ratings Changes

A number of equities analysts have recently commented on MDT shares. Oppenheimer raised their target price on shares of Medtronic from $92.00 to $94.00 and gave the stock a “market perform” rating in a research report on Wednesday, August 21st. Robert W. Baird raised their price objective on Medtronic from $82.00 to $90.00 and gave the stock a “neutral” rating in a report on Wednesday, August 21st. Wells Fargo & Company upped their target price on Medtronic from $105.00 to $106.00 and gave the stock an “overweight” rating in a report on Wednesday, August 21st. Barclays raised their price target on Medtronic from $104.00 to $105.00 and gave the company an “overweight” rating in a research note on Thursday, August 22nd. Finally, UBS Group raised shares of Medtronic from a “sell” rating to a “neutral” rating and upped their price objective for the stock from $76.00 to $90.00 in a research note on Thursday, August 15th. One research analyst has rated the stock with a sell rating, nine have issued a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat.com, Medtronic currently has an average rating of “Hold” and a consensus price target of $92.92.

Medtronic Company 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.