Toth Financial Advisory Corp Has $4.60 Million Stock Position in Medtronic plc (NYSE:MDT)

Toth Financial Advisory Corp increased its holdings in Medtronic plc (NYSE:MDT) by 3.7% in the first quarter, HoldingsChannel reports. The firm owned 52,799 shares of the medical technology company’s stock after purchasing an additional 1,877 shares during the period. Toth Financial Advisory Corp’s holdings in Medtronic were worth $4,601,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of the business. Norges Bank bought a new position in shares of Medtronic in the fourth quarter worth about $1,229,726,000. First Eagle Investment Management LLC increased its position in Medtronic by 54.5% in the 4th quarter. First Eagle Investment Management LLC now owns 9,409,680 shares of the medical technology company’s stock worth $775,169,000 after buying an additional 3,320,800 shares during the period. Morgan Stanley lifted its holdings in shares of Medtronic by 9.2% during the third quarter. Morgan Stanley now owns 23,777,808 shares of the medical technology company’s stock worth $1,863,229,000 after buying an additional 1,994,123 shares during the last quarter. Pzena Investment Management LLC lifted its holdings in shares of Medtronic by 30.9% during the fourth quarter. Pzena Investment Management LLC now owns 7,500,562 shares of the medical technology company’s stock worth $617,896,000 after buying an additional 1,769,985 shares during the last quarter. Finally, DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main boosted its position in shares of Medtronic by 145.4% in the fourth quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 2,372,641 shares of the medical technology company’s stock valued at $195,431,000 after acquiring an additional 1,405,978 shares during the period. 82.06% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Medtronic

In other Medtronic 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 sale, the chief executive officer now directly owns 143,348 shares in the company, valued at approximately $12,008,261.96. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other news, CEO Geoffrey Martha sold 19,113 shares of the stock in a transaction 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 sale, 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 Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Michael Marinaro sold 854 shares of the business’s stock in a transaction on Monday, April 8th. The shares were sold at an average price of $83.14, for a total transaction of $71,001.56. Following the completion of the sale, the executive vice president now directly owns 27,925 shares in the company, valued at $2,321,684.50. The disclosure for this sale can be found here. 0.30% of the stock is owned by insiders.

Medtronic Trading Up 0.1 %

Shares of Medtronic stock traded up $0.08 during trading on Friday, hitting $78.71. 8,917,219 shares of the company were exchanged, compared to its average volume of 6,371,193. The firm has a market capitalization of $100.93 billion, a P/E ratio of 28.62, a price-to-earnings-growth ratio of 2.31 and a beta of 0.83. The firm’s fifty day moving average price is $81.85 and its 200 day moving average price is $83.50. The company has a debt-to-equity ratio of 0.47, a current ratio of 2.03 and a quick ratio of 1.55. Medtronic plc has a 1-year low of $68.84 and a 1-year high of $91.00.

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

Medtronic Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, July 12th. Stockholders of record on Friday, June 28th will be issued a dividend of $0.70 per share. This represents a $2.80 annualized dividend and a dividend yield of 3.56%. The ex-dividend date of this dividend is Friday, June 28th. This is a boost from Medtronic’s previous quarterly dividend of $0.69. Medtronic’s payout ratio is 101.82%.

Wall Street Analyst Weigh In

MDT has been the topic of a number of research reports. UBS Group boosted their target price on shares of Medtronic from $75.00 to $76.00 and gave the stock a “sell” rating in a research report on Friday, May 24th. Needham & Company LLC reaffirmed a “hold” rating on shares of Medtronic in a research report on Friday, May 24th. The Goldman Sachs Group initiated coverage on Medtronic in a research report on Thursday, May 30th. They set a “sell” rating and a $83.00 target price on the stock. Truist Financial reduced their price objective on Medtronic from $90.00 to $88.00 and set a “hold” rating for the company in a research report on Friday, May 24th. Finally, Royal Bank of Canada restated a “sector perform” rating and set a $92.00 price objective on shares of Medtronic in a research report on Wednesday, June 5th. Two analysts have rated the stock with a sell rating, five have issued a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat.com, Medtronic has an average rating of “Hold” and an average price target of $93.00.

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.