Medtronic plc (NYSE:MDT) Shares Sold by Stokes Capital Advisors LLC

Stokes Capital Advisors LLC decreased its holdings in shares of Medtronic plc (NYSE:MDT) by 1.4% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 40,208 shares of the medical technology company’s stock after selling 583 shares during the period. Stokes Capital Advisors LLC’s holdings in Medtronic were worth $3,504,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently made changes to their positions in the business. Prairie Sky Financial Group LLC bought a new position in shares of Medtronic during the 1st quarter valued at about $207,000. Cardinal Capital Management boosted its position in shares of Medtronic by 12.3% during the 1st quarter. Cardinal Capital Management now owns 69,446 shares of the medical technology company’s stock valued at $6,095,000 after purchasing an additional 7,630 shares in the last quarter. Franklin Street Advisors Inc. NC boosted its position in shares of Medtronic by 4.8% during the 1st quarter. Franklin Street Advisors Inc. NC now owns 201,329 shares of the medical technology company’s stock valued at $17,546,000 after purchasing an additional 9,204 shares in the last quarter. Janiczek Wealth Management LLC boosted its position in shares of Medtronic by 131.6% during the 1st quarter. Janiczek Wealth Management LLC now owns 6,767 shares of the medical technology company’s stock valued at $590,000 after purchasing an additional 3,845 shares in the last quarter. Finally, Exeter Financial LLC boosted its position in shares of Medtronic by 31.0% during the 1st quarter. Exeter Financial LLC now owns 9,391 shares of the medical technology company’s stock valued at $788,000 after purchasing an additional 2,222 shares in the last quarter. Institutional investors own 82.06% of the company’s stock.

Insider Activity at Medtronic

In related news, CEO Geoffrey Martha sold 19,113 shares of the firm’s stock in a transaction that occurred on Friday, June 7th. The shares were sold at an average price of $83.77, for a total transaction of $1,601,096.01. Following the transaction, 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 legal filing with the SEC, which is available through this hyperlink. In other news, EVP Michael Marinaro sold 854 shares of Medtronic stock in a transaction that occurred on Monday, April 8th. The shares were sold at an average price of $83.14, for a total value of $71,001.56. Following the transaction, the executive vice president now owns 27,925 shares of the company’s stock, valued at $2,321,684.50. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CEO Geoffrey Martha sold 19,113 shares of Medtronic stock in a transaction that occurred on Friday, June 7th. The shares were sold at an average price of $83.77, for a total transaction of $1,601,096.01. Following the completion of the transaction, the chief executive officer now directly owns 143,348 shares in the company, valued at approximately $12,008,261.96. The disclosure for this sale can be found here. Insiders own 0.30% of the company’s stock.

Analysts Set New Price Targets

Several research firms have recently weighed in on MDT. Truist Financial reduced their price objective on shares of Medtronic from $90.00 to $88.00 and set a “hold” rating for the company in a research report on Friday, May 24th. Needham & Company LLC reiterated a “hold” rating on shares of Medtronic in a report on Friday, May 24th. UBS Group raised their target price on shares of Medtronic from $75.00 to $76.00 and gave the stock a “sell” rating in a report on Friday, May 24th. The Goldman Sachs Group started coverage on shares of Medtronic in a report on Thursday, May 30th. They issued a “sell” rating and a $83.00 target price for the company. Finally, Wells Fargo & Company raised their target price on shares of Medtronic from $102.00 to $105.00 and gave the stock an “overweight” rating in a report on Friday, May 24th. Two research analysts have rated the stock with a sell rating, five have assigned a hold rating and six have assigned a buy rating to the company. According to MarketBeat.com, Medtronic has an average rating of “Hold” and a consensus target price of $93.00.

Medtronic Stock Up 0.4 %

Shares of MDT stock traded up $0.34 during trading on Friday, hitting $78.97. 1,531,634 shares of the company were exchanged, compared to its average volume of 6,272,667. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.55 and a current ratio of 2.03. The firm has a market capitalization of $101.26 billion, a price-to-earnings ratio of 28.85, a P/E/G ratio of 2.33 and a beta of 0.83. The business’s 50-day simple moving average is $81.87 and its 200 day simple moving average is $83.53. Medtronic plc has a twelve month low of $68.84 and a twelve month high of $91.00.

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

Medtronic Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, July 12th. Investors of record on Friday, June 28th will be given a dividend of $0.70 per share. This represents a $2.80 annualized dividend and a yield of 3.55%. The ex-dividend date is Friday, June 28th. This is a positive change from Medtronic’s previous quarterly dividend of $0.69. Medtronic’s dividend payout ratio (DPR) is presently 100.36%.

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.