Kesler Norman & Wride LLC Purchases 1,174 Shares of Medtronic plc (NYSE:MDT)

Kesler Norman & Wride LLC increased its position in shares of Medtronic plc (NYSE:MDT) by 2.0% during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 60,335 shares of the medical technology company’s stock after acquiring an additional 1,174 shares during the period. Kesler Norman & Wride LLC’s holdings in Medtronic were worth $5,258,000 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 MDT. Norges Bank bought a new stake in Medtronic during the 4th quarter worth $1,229,726,000. First Eagle Investment Management LLC grew its position in shares of 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 valued at $775,169,000 after buying an additional 3,320,800 shares during the last quarter. Morgan Stanley grew its position in shares of Medtronic by 9.2% in the 3rd quarter. Morgan Stanley now owns 23,777,808 shares of the medical technology company’s stock valued at $1,863,229,000 after buying an additional 1,994,123 shares during the last quarter. Pzena Investment Management LLC grew its position in shares of Medtronic by 30.9% in the 4th quarter. Pzena Investment Management LLC now owns 7,500,562 shares of the medical technology company’s stock valued at $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 grew its position in shares of Medtronic by 145.4% in the 4th 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 buying an additional 1,405,978 shares during the last quarter. Institutional investors own 82.06% of the company’s stock.

Wall Street Analysts Forecast Growth

MDT has been the topic of a number of analyst reports. Wells Fargo & Company upped their price target on Medtronic from $102.00 to $105.00 and gave the company an “overweight” rating in a research report on Friday, May 24th. UBS Group upped their price target on Medtronic from $75.00 to $76.00 and gave the company a “sell” rating 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 issued a “sell” rating and a $83.00 price target on the stock. Royal Bank of Canada reiterated a “sector perform” rating and issued a $92.00 price target on shares of Medtronic in a research report on Wednesday, June 5th. Finally, Truist Financial dropped their price objective on Medtronic from $90.00 to $88.00 and set a “hold” rating on the stock in a research note on Friday, May 24th. Two analysts have rated the stock with a sell rating, five have issued a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $91.70.

Medtronic Stock Down 0.3 %

MDT stock traded down $0.20 during trading on Thursday, reaching $77.17. 2,838,401 shares of the stock were exchanged, compared to its average volume of 6,333,819. The firm’s 50 day moving average is $81.64 and its 200 day moving average is $83.41. Medtronic plc has a twelve month low of $68.84 and a twelve month high of $91.00. The company has a current ratio of 2.03, a quick ratio of 1.55 and a debt-to-equity ratio of 0.47. The firm has a market cap of $98.95 billion, a P/E ratio of 28.06, a price-to-earnings-growth ratio of 2.25 and a beta of 0.82.

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

Medtronic Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, July 12th. Investors of record on Friday, June 28th will be paid a dividend of $0.70 per share. This is an increase from Medtronic’s previous quarterly dividend of $0.69. This represents a $2.80 dividend on an annualized basis and a yield of 3.63%. The ex-dividend date is Friday, June 28th. Medtronic’s dividend payout ratio is 101.82%.

Insider Buying and Selling

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

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.