Medtronic plc (NYSE:MDT) Shares Bought by United Asset Strategies Inc.

United Asset Strategies Inc. increased its stake in Medtronic plc (NYSE:MDT) by 11.9% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 106,447 shares of the medical technology company’s stock after acquiring an additional 11,342 shares during the period. United Asset Strategies Inc.’s holdings in Medtronic were worth $8,378,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of MDT. MeadowBrook Investment Advisors LLC acquired a new position in shares of Medtronic in the 4th quarter valued at $27,000. LifeSteps Financial Inc. purchased a new position in shares of Medtronic in the 1st quarter worth $27,000. Lynx Investment Advisory acquired a new position in Medtronic in the second quarter valued at $28,000. Tributary Capital Management LLC purchased a new stake in Medtronic during the first quarter valued at about $33,000. Finally, Fortis Group Advisors LLC increased its stake in Medtronic by 100.0% during the fourth quarter. Fortis Group Advisors LLC now owns 460 shares of the medical technology company’s stock worth $38,000 after acquiring an additional 230 shares during the last quarter. 82.06% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling 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 value 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 document filed with the SEC, which is accessible through the SEC website. Corporate insiders own 0.30% of the company’s stock.

Medtronic Price Performance

Shares of NYSE:MDT opened at $88.58 on Monday. The business’s 50 day moving average is $81.32 and its 200-day moving average is $82.42. The company has a current ratio of 2.13, a quick ratio of 1.61 and a debt-to-equity ratio of 0.55. The firm has a market capitalization of $113.58 billion, a PE ratio of 32.21, a PEG 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.

Medtronic (NYSE:MDT) last announced its quarterly earnings results on Tuesday, August 20th. The medical technology company reported $1.23 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.20 by $0.03. The firm had revenue of $7.97 billion for the quarter, compared to analyst estimates of $7.90 billion. Medtronic had a net margin of 12.06% and a return on equity of 13.68%. The business’s revenue for the quarter was up 3.4% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.20 EPS. Sell-side analysts predict that Medtronic plc will post 5.46 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 11th. Stockholders of record on Friday, September 27th will be paid a $0.70 dividend. This represents a $2.80 dividend on an annualized basis and a dividend yield of 3.16%. The ex-dividend date is Friday, September 27th. Medtronic’s dividend payout ratio (DPR) is currently 101.82%.

Analyst Upgrades and Downgrades

MDT has been the topic of several research analyst reports. Citigroup reduced their price objective on Medtronic from $90.00 to $85.00 and set a “neutral” rating on the stock in a research note on Wednesday, July 10th. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $92.00 price target on shares of Medtronic in a research report on Wednesday, August 21st. Barclays increased their price objective on shares of Medtronic from $104.00 to $105.00 and gave the stock an “overweight” rating in a research report on Thursday, August 22nd. Daiwa America upgraded shares of Medtronic to a “strong-buy” rating in a report on Friday, August 23rd. Finally, Piper Sandler upped their price target on shares of Medtronic from $85.00 to $90.00 and gave the stock a “neutral” rating in a research report on Wednesday, August 21st. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating, five have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $92.92.

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.