DGS Capital Management LLC Boosts Stock Position in Medtronic plc (NYSE:MDT)

DGS Capital Management LLC boosted its holdings in shares of Medtronic plc (NYSE:MDT) by 106.8% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 5,953 shares of the medical technology company’s stock after purchasing an additional 3,075 shares during the period. DGS Capital Management LLC’s holdings in Medtronic were worth $519,000 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 the business. Equity Investment Corp raised its holdings in Medtronic by 27.9% in the 4th quarter. Equity Investment Corp now owns 1,341,079 shares of the medical technology company’s stock worth $110,478,000 after purchasing an additional 292,459 shares in the last quarter. Loudon Investment Management LLC lifted its position in Medtronic by 9.5% during the fourth quarter. Loudon Investment Management LLC now owns 10,026 shares of the medical technology company’s stock valued at $786,000 after buying an additional 874 shares during the period. BKM Wealth Management LLC bought a new stake in shares of Medtronic during the 4th quarter valued at $941,000. International Assets Investment Management LLC grew its position in shares of Medtronic by 8,340.3% in the 4th quarter. International Assets Investment Management LLC now owns 1,038,579 shares of the medical technology company’s stock worth $85,558,000 after buying an additional 1,026,274 shares during the period. Finally, Tower Research Capital LLC TRC grew its position in shares of Medtronic by 69.3% in the 3rd quarter. Tower Research Capital LLC TRC now owns 40,476 shares of the medical technology company’s stock worth $3,172,000 after buying an additional 16,574 shares during the period. Institutional investors own 82.06% of the company’s stock.

Analyst Upgrades and Downgrades

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

Medtronic Stock Performance

Shares of NYSE:MDT opened at $79.33 on Friday. Medtronic plc has a one year low of $68.84 and a one year high of $91.00. The firm has a market cap of $101.72 billion, a PE ratio of 28.85, a price-to-earnings-growth ratio of 2.33 and a beta of 0.83. The firm’s 50 day simple moving average is $81.87 and its 200-day simple moving average is $83.53. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.55 and a current ratio of 2.03.

Medtronic (NYSE:MDT) last issued its earnings results on Thursday, May 23rd. The medical technology company reported $1.46 earnings per share 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 return on equity of 13.47% and a net margin of 11.36%. The business’s revenue for the quarter was up .5% compared to the same quarter last year. During the same period in the prior year, the business earned $1.57 EPS. As a group, equities analysts predict that Medtronic plc will post 5.44 EPS for the current 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 paid a dividend of $0.70 per share. The ex-dividend date is Friday, June 28th. 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 dividend yield of 3.53%. Medtronic’s dividend payout ratio (DPR) is currently 100.36%.

Insider Buying and Selling

In other news, CEO Geoffrey Martha sold 19,113 shares of Medtronic stock in a transaction 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 transaction, 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 document filed with the Securities & Exchange Commission, which is available at this hyperlink. 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 value of $1,601,096.01. Following the completion of the sale, the chief executive officer now directly owns 143,348 shares in the company, valued at $12,008,261.96. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, EVP Michael Marinaro sold 854 shares of the business’s stock in a transaction 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 transaction, the executive vice president now 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 currently owned by 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.