Medtronic plc (NYSE:MDT) shares acquired by Americana Partners LLC

Americana Partners LLC boosted its stake in Medtronic plc (NYSE:MDT – Free Report) by 2.0% in the second quarter, Holdings Channel.com reports. The firm owned 6,667 shares of the medical technology company’s stock after purchasing an additional 128 shares during the period. Americana Partners LLC’s holdings in Medtronic were worth $525,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the company. Equity Investment Corp boosted its holdings in shares of Medtronic by 27.9% in the fourth quarter. Equity Investment Corp now owns 1,341,079 shares of the medical technology company’s stock valued at $110,478,000 after purchasing an additional 292,459 shares in the last quarter. Loudon Investment Management LLC raised its position in Medtronic by 9.5% during the 4th quarter. Loudon Investment Management LLC now owns 10,026 shares of the medical technology company’s stock worth $786,000 after buying an additional 874 shares in the that period. Chemung Canal Trust Co. boosted its holdings in shares of Medtronic by 1,467.5% in the first quarter. Chemung Canal Trust Co. now owns 47,902 shares of the medical technology company’s stock valued at $4,175,000 after purchasing an additional 44,846 shares during the period. Manning & Napier Advisors LLC acquired a new stake in shares of Medtronic in the second quarter valued at approximately $25,643,000. Finally, Apollon Wealth Management LLC grew its holdings in Medtronic by 43.0% during the fourth quarter. Apollon Wealth Management LLC now owns 50,804 shares of the medical technology company’s stock worth $4,185,000 after acquiring an additional 15,265 shares during the period. 82.06% of the shares are currently held by hedge funds and other institutional investors.

The Wall Street analyst weighs in

MDT has been the subject of several recent analyst reports. Goldman Sachs Group assumed coverage on Medtronic in a report on Thursday, May 30th. They issued a “sell” rating and a $83.00 target price for the company. Daiwa America raised shares of Medtronic to a “strong-buy” rating in a report on Friday, August 23rd. Barclays upped their target price 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. Wells Fargo & Company raised their target price on shares of Medtronic from $105.00 to $106.00 and gave the company an “overweight” rating in a research report on Wednesday, August 21st. Finally, Royal Bank of Canada restated a “sector perform” rating and issued a $92.00 target price on shares of Medtronic in a report on Wednesday, August 21st. One 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 issued a strong buy rating to the company. The company currently has an average rating of “Hold” and a consensus price target of $92.92, based on data from MarketBeat.

Check out the latest stock analysis on Medtronic

Medtronic stock performance

Shares of Medtronic stock opened at $88.58 on Friday. The stock has a fifty day moving average of $81.32 and a two hundred day moving average of $82.44. Medtronic plc has a fifty-two week low of $68.84 and a fifty-two week high of $90.13. The company has a market cap of $113.60 billion, a price-to-earnings ratio of 32.21, a PEG ratio of 2.52 and a beta of 0.82. The company has a debt-to-equity ratio of 0.55, a quick ratio of 1.61, and a current ratio of 2.13.

Medtronic (NYSE:MDT – Get Free Report ) last posted its quarterly earnings results on Tuesday, August 20th. The medical technology company reported $1.23 earnings per share for the quarter, topping the consensus estimate of $1.20 by $0.03. Medtronic had a return on equity of 13.68% and a net margin of 12.06%. The company had revenue of $7.97 billion during the quarter, compared to the consensus estimate of $7.90 billion. During the same period in the previous year, the firm posted EPS of $1.20. Medtronic’s revenue rose 3.4% year over year. On average, analysts anticipate that Medtronic plc will post 5.46 EPS for the current fiscal year.

Medtronic Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, October 11th. Investors of record on Friday, September 27th will be paid a dividend of $0.70 per share. The ex-dividend date is Friday, September 27. This represents a dividend of $2.80 on an annualized basis and a yield of 3.16%. Medtronic’s dividend payout ratio (DPR) is 101.82%.

Insider activity at Medtronic

In other news, CEO Geoffrey Martha sold 19,113 shares of the company’s stock in a transaction dated 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 owns 143,348 shares of the company’s stock, valued at $12,008,261.96. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 0.30% of the stock is owned by insiders.

About Medtronic

(Free report)

Medtronic plc develops, manufactures and sells device-based medical therapies to healthcare systems, physicians, clinicians and patients worldwide. Its cardiovascular portfolio segment offers implantable pacemakers, cardioverter defibrillators and cardiac resynchronization therapy devices; cardiac ablation products; implantable cardiac monitoring systems; TYRX products; and remote monitoring and patient-centric software.

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