3,119 Shares in Medtronic plc (NYSE:MDT) Acquired by LifePro Asset Management

LifePro Asset Management bought a new position in Medtronic plc (NYSE:MDT) during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 3,119 shares of the medical technology company’s stock, valued at approximately $275,000.

Other hedge funds have also modified their holdings of the company. Sageworth Trust Co purchased a new stake in Medtronic during the first quarter worth approximately $26,000. Laurel Wealth Advisors LLC grew its stake in Medtronic by 250.0% during the first quarter. Laurel Wealth Advisors LLC now owns 350 shares of the medical technology company’s stock worth $28,000 after buying an additional 250 shares during the period. Trivant Custom Portfolio Group LLC purchased a new stake in Medtronic during the first quarter worth approximately $31,000. Certified Advisory Corp purchased a new stake in Medtronic during the first quarter worth approximately $31,000. Finally, Tucker Asset Management LLC purchased a new stake in Medtronic during the first quarter worth approximately $32,000. 80.75% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on the stock. Stifel Nicolaus upped their target price on shares of Medtronic from $92.00 to $95.00 and gave the company a “buy” rating in a research note on Tuesday, August 22nd. Mizuho upped their target price on shares of Medtronic from $95.00 to $100.00 and gave the company a “buy” rating in a research note on Wednesday, August 23rd. Oppenheimer restated a “market perform” rating and issued a $89.00 target price on shares of Medtronic in a research note on Wednesday, August 23rd. Wells Fargo & Company upped their target price on shares of Medtronic from $100.00 to $102.00 and gave the company an “overweight” rating in a research note on Wednesday, August 23rd. Finally, 22nd Century Group restated an “initiates” rating on shares of Medtronic in a research note on Friday, June 30th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $91.67.

Medtronic Stock Performance

Shares of NYSE:MDT traded up $1.40 on Monday, reaching $83.17. 800,309 shares of the company’s stock were exchanged, compared to its average volume of 5,671,546. The firm has a market capitalization of $110.66 billion, a price-to-earnings ratio of 30.69, a PEG ratio of 2.88 and a beta of 0.71. Medtronic plc has a fifty-two week low of $75.76 and a fifty-two week high of $92.02. The business’s 50-day moving average is $84.16 and its two-hundred day moving average is $84.35. The company has a quick ratio of 1.79, a current ratio of 2.42 and a debt-to-equity ratio of 0.48.

Medtronic (NYSE:MDT) last issued its earnings results on Tuesday, August 22nd. The medical technology company reported $1.20 earnings per share for the quarter, topping analysts’ consensus estimates of $1.11 by $0.09. The company had revenue of $7.70 billion for the quarter, compared to analysts’ expectations of $7.57 billion. Medtronic had a net margin of 11.47% and a return on equity of 13.81%. The firm’s revenue was up 4.5% compared to the same quarter last year. During the same period in the prior year, the company earned $1.13 earnings per share. As a group, equities research analysts forecast that Medtronic plc will post 5.12 EPS for the current year.

Medtronic Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, October 13th. Shareholders of record on Friday, September 22nd will be issued a dividend of $0.69 per share. The ex-dividend date of this dividend is Thursday, September 21st. This represents a $2.76 dividend on an annualized basis and a dividend yield of 3.32%. Medtronic’s dividend payout ratio (DPR) is 101.85%.

Insider Buying and Selling

In related news, EVP Gregory L. Smith sold 10,000 shares of the stock in a transaction dated Wednesday, August 23rd. The shares were sold at an average price of $83.84, for a total value of $838,400.00. Following the sale, the executive vice president now owns 46,723 shares of the company’s stock, valued at approximately $3,917,256.32. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In related news, EVP Hoedt Rob Ten sold 5,514 shares of the stock in a transaction dated Monday, July 10th. The shares were 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 in the company, valued at approximately $3,792,377.16. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Gregory L. Smith sold 10,000 shares of the stock in a transaction dated Wednesday, August 23rd. The shares were sold at an average price of $83.84, for a total transaction of $838,400.00. Following the completion of the transaction, the executive vice president now owns 46,723 shares of the company’s stock, valued at approximately $3,917,256.32. The disclosure for this sale can be found here. Insiders have sold a total of 19,866 shares of company stock valued at $1,688,839 in the last quarter. Company insiders own 0.30% of the company’s stock.

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.