GSB Wealth Management LLC decreased its holdings in shares of Medtronic plc (NYSE:MDT – Free Report) by 1.4% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 9,192 shares of the medical technology company’s stock after selling 132 shares during the period. GSB Wealth Management LLC’s holdings in Medtronic were worth $741,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Sageworth Trust Co bought a new position in shares of Medtronic in the 1st quarter worth approximately $26,000. Laurel Wealth Advisors LLC raised its position in shares of Medtronic by 250.0% in the 1st quarter. Laurel Wealth Advisors LLC now owns 350 shares of the medical technology company’s stock worth $28,000 after acquiring an additional 250 shares in the last quarter. Certified Advisory Corp bought a new position in shares of Medtronic in the 1st quarter worth approximately $31,000. Avalon Trust Co bought a new position in shares of Medtronic in the 1st quarter worth approximately $32,000. Finally, CKW Financial Group increased its position in Medtronic by 60.0% during the 1st quarter. CKW Financial Group now owns 400 shares of the medical technology company’s stock valued at $32,000 after buying an additional 150 shares in the last quarter. Institutional investors own 80.75% of the company’s stock.
Wall Street Analyst Weigh In
MDT has been the subject of a number of analyst reports. UBS Group raised their price objective on Medtronic from $79.00 to $82.00 and gave the company a “sell” rating in a research report on Wednesday, August 23rd. Stifel Nicolaus raised their price objective on Medtronic from $92.00 to $95.00 and gave the company a “buy” rating in a research report on Tuesday, August 22nd. Oppenheimer reaffirmed a “market perform” rating and set a $89.00 price objective on shares of Medtronic in a research report on Wednesday, August 23rd. CL King assumed coverage on Medtronic in a research note on Friday, June 30th. They set a “buy” rating and a $106.00 target price on the stock. Finally, Wells Fargo & Company increased their target price on Medtronic from $100.00 to $102.00 and gave the company an “overweight” rating in a research note on Wednesday, August 23rd. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat.com, Medtronic currently has an average rating of “Hold” and an average price target of $91.67.
Insider Transactions at Medtronic
In other news, EVP Hoedt Rob Ten sold 5,514 shares of Medtronic stock in a transaction dated Monday, July 10th. The stock was sold at an average price of $86.58, for a total value of $477,402.12. Following the sale, the executive vice president now directly owns 43,802 shares of the company’s stock, valued at $3,792,377.16. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, EVP Brett A. Wall sold 2,000 shares of Medtronic stock in a transaction dated Friday, July 14th. The stock was sold at an average price of $87.97, for a total value of $175,940.00. Following the completion of the transaction, the executive vice president now owns 23,948 shares in the company, valued at $2,106,705.56. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Hoedt Rob Ten sold 5,514 shares of Medtronic stock in a transaction dated Monday, July 10th. The stock was sold at an average price of $86.58, for a total value of $477,402.12. Following the completion of the transaction, the executive vice president now owns 43,802 shares of the company’s stock, valued at approximately $3,792,377.16. The disclosure for this sale can be found here. Over the last three months, insiders have sold 19,866 shares of company stock valued at $1,688,839. 0.30% of the stock is currently owned by insiders.
Medtronic Stock Performance
MDT stock opened at $81.32 on Thursday. The company has a market cap of $108.20 billion, a P/E ratio of 30.01, a price-to-earnings-growth ratio of 2.81 and a beta of 0.71. The company has a debt-to-equity ratio of 0.48, a current ratio of 2.42 and a quick ratio of 1.79. The stock’s fifty day moving average price is $84.44 and its 200-day moving average price is $84.37. Medtronic plc has a 1 year low of $75.76 and a 1 year high of $92.02.
Medtronic (NYSE:MDT – Get Free Report) last posted its quarterly earnings results on Tuesday, August 22nd. The medical technology company reported $1.20 EPS for the quarter, beating analysts’ consensus estimates of $1.11 by $0.09. The business had revenue of $7.70 billion for the quarter, compared to analysts’ expectations of $7.57 billion. Medtronic had a return on equity of 13.81% and a net margin of 11.47%. The business’s quarterly revenue was up 4.5% on a year-over-year basis. During the same period last year, the firm earned $1.13 earnings per share. On average, equities analysts forecast that Medtronic plc will post 5.12 earnings per share for the current year.
Medtronic Announces Dividend
The company also recently announced a quarterly dividend, which will be paid on Friday, October 13th. Stockholders of record on Friday, September 22nd will be issued a $0.69 dividend. The ex-dividend date of this dividend is Thursday, September 21st. This represents a $2.76 annualized dividend and a dividend yield of 3.39%. Medtronic’s dividend payout ratio (DPR) is 101.85%.
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.
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