Future Financial Wealth Managment LLC Acquires New Position in Medtronic plc (NYSE:MDT)

Future Financial Wealth Managment LLC bought a new position in shares of Medtronic plc (NYSE:MDT) during the first quarter, according to the company in its most recent disclosure with the SEC. The firm bought 1,745 shares of the medical technology company’s stock, valued at approximately $152,000.

Other large investors also recently bought and sold shares of the company. Fortitude Family Office LLC acquired a new stake in Medtronic during the fourth quarter worth about $25,000. Leith Wheeler Investment Counsel Ltd. grew its holdings in shares of Medtronic by 293.0% during the fourth quarter. Leith Wheeler Investment Counsel Ltd. now owns 316,643 shares of the medical technology company’s stock valued at $26,000 after purchasing an additional 236,064 shares during the last quarter. MeadowBrook Investment Advisors LLC acquired a new stake in shares of Medtronic during the 4th quarter worth approximately $27,000. Financial Gravity Asset Management Inc. lifted its holdings in shares of Medtronic by 317.0% in the 3rd quarter. Financial Gravity Asset Management Inc. now owns 367 shares of the medical technology company’s stock worth $29,000 after purchasing an additional 279 shares during the last quarter. Finally, Fortis Group Advisors LLC boosted its position in Medtronic by 100.0% during the 4th quarter. Fortis Group Advisors LLC now owns 460 shares of the medical technology company’s stock valued at $38,000 after purchasing an additional 230 shares during the period. Institutional investors own 82.06% of the company’s stock.

Insider Buying and Selling at Medtronic

In other news, CEO Geoffrey Martha sold 19,113 shares of the firm’s stock in a transaction 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 completion of the sale, 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 filing with the SEC, which is accessible through this hyperlink. In related news, EVP Michael Marinaro sold 854 shares of the company’s stock in a transaction that occurred on Monday, April 8th. The shares were 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 owns 27,925 shares in the company, valued at approximately $2,321,684.50. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO Geoffrey Martha sold 19,113 shares of Medtronic 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 owns 143,348 shares in the company, valued at $12,008,261.96. The disclosure for this sale can be found here. 0.30% of the stock is owned by corporate insiders.

Medtronic Trading Down 0.9 %

Shares of MDT stock opened at $79.33 on Friday. The stock has a 50-day simple moving average of $81.87 and a 200 day simple moving average of $83.53. The stock has a market capitalization of $101.72 billion, a P/E ratio of 28.85, a P/E/G ratio of 2.33 and a beta of 0.83. Medtronic plc has a fifty-two week low of $68.84 and a fifty-two week high of $91.00. The company has a quick ratio of 1.55, a current ratio of 2.03 and a debt-to-equity ratio of 0.47.

Medtronic (NYSE:MDT) last posted its quarterly earnings data on Thursday, May 23rd. The medical technology company reported $1.46 earnings per share for the quarter, beating the consensus estimate of $1.45 by $0.01. Medtronic had a net margin of 11.36% and a return on equity of 13.47%. The company had revenue of $8.59 billion during the quarter, compared to analyst estimates of $8.44 billion. During the same quarter last year, the firm posted $1.57 EPS. The business’s revenue for the quarter was up .5% on a year-over-year basis. On average, 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 declared a quarterly dividend, which will be paid on Friday, July 12th. Shareholders of record on Friday, June 28th will be given a $0.70 dividend. This is a positive change from Medtronic’s previous quarterly dividend of $0.69. The ex-dividend date is Friday, June 28th. This represents a $2.80 annualized dividend and a yield of 3.53%. Medtronic’s payout ratio is 100.36%.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on the company. Wells Fargo & Company increased their target price on Medtronic from $102.00 to $105.00 and gave the stock an “overweight” rating in a research report on Friday, May 24th. The Goldman Sachs Group assumed coverage on shares of Medtronic in a research report on Thursday, May 30th. They issued a “sell” rating and a $83.00 price objective on the stock. Needham & Company LLC restated a “hold” rating on shares of Medtronic in a research report on Friday, May 24th. UBS Group raised their price target on shares of Medtronic from $75.00 to $76.00 and gave the company a “sell” rating in a research note on Friday, May 24th. Finally, Truist Financial decreased their price objective on Medtronic from $90.00 to $88.00 and set a “hold” rating for the company in a report on Friday, May 24th. Two equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and six have given a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price 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.