Medtronic plc (NYSE:MDT) Shares Purchased by Farther Finance Advisors LLC

Farther Finance Advisors LLC increased its position in shares of Medtronic plc (NYSE:MDT) by 15.4% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 33,790 shares of the medical technology company’s stock after purchasing an additional 4,519 shares during the period. Farther Finance Advisors LLC’s holdings in Medtronic were worth $2,606,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Capital Research Global Investors lifted its position in Medtronic by 7.1% in the first quarter. Capital Research Global Investors now owns 30,884,412 shares of the medical technology company’s stock valued at $2,691,577,000 after buying an additional 2,044,109 shares during the last quarter. Bank of New York Mellon Corp lifted its holdings 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 acquiring an additional 727,931 shares during the last quarter. Norges Bank purchased a new position in shares of Medtronic during the 4th quarter worth approximately $1,229,726,000. Sanders Capital LLC increased its holdings in Medtronic by 2.8% in the 4th quarter. Sanders Capital LLC now owns 12,634,161 shares of the medical technology company’s stock valued at $1,040,802,000 after purchasing an additional 346,641 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. raised its position in Medtronic by 0.9% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 11,089,400 shares of the medical technology company’s stock valued at $893,352,000 after purchasing an additional 101,111 shares during the period. 82.06% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Medtronic

In other news, CEO Geoffrey Martha sold 19,113 shares of Medtronic 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 $12,008,261.96. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.30% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on MDT shares. Needham & Company LLC restated a “hold” rating on shares of Medtronic in a research report on Tuesday, August 20th. Oppenheimer lifted their target price on Medtronic from $92.00 to $94.00 and gave the company a “market perform” rating in a research report on Wednesday, August 21st. Wells Fargo & Company boosted their price target on shares of Medtronic from $105.00 to $106.00 and gave the stock an “overweight” rating in a research note on Wednesday, August 21st. Daiwa America raised shares of Medtronic to a “strong-buy” rating in a research note on Friday, August 23rd. Finally, Citigroup cut their target price on shares of Medtronic from $90.00 to $85.00 and set a “neutral” rating on the stock in a research note on Wednesday, July 10th. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $92.92.

Medtronic Stock Up 0.4 %

NYSE MDT traded up $0.39 during trading on Friday, reaching $88.58. 7,940,126 shares of the company’s stock were exchanged, compared to its average volume of 5,969,357. The company has a 50 day moving average price of $81.32 and a two-hundred day moving average price of $82.43. The stock has a market cap of $113.60 billion, a P/E ratio of 32.21, a price-to-earnings-growth ratio of 2.52 and a beta of 0.82. Medtronic plc has a 1 year low of $68.84 and a 1 year high of $90.13. The company has a debt-to-equity ratio of 0.55, a quick ratio of 1.61 and a current ratio of 2.13.

Medtronic (NYSE:MDT) last posted its earnings results on Tuesday, August 20th. The medical technology company reported $1.23 earnings per share for the quarter, topping the consensus estimate of $1.20 by $0.03. The firm had revenue of $7.97 billion during the quarter, compared to analysts’ expectations of $7.90 billion. Medtronic had a return on equity of 13.68% and a net margin of 12.06%. The firm’s revenue was up 3.4% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.20 earnings per share. On average, equities research analysts anticipate that Medtronic plc will post 5.46 EPS for the current fiscal year.

Medtronic Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, October 11th. Investors of record on Friday, September 27th will be given a $0.70 dividend. The ex-dividend date is Friday, September 27th. This represents a $2.80 dividend on an annualized basis and a yield of 3.16%. Medtronic’s dividend payout ratio (DPR) is presently 101.82%.

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.