Valeo Financial Advisors LLC Acquires 1,233 Shares of Medtronic plc (NYSE:MDT)

Valeo Financial Advisors LLC grew its position in shares of Medtronic plc (NYSE:MDT) by 5.8% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 22,316 shares of the medical technology company’s stock after buying an additional 1,233 shares during the quarter. Valeo Financial Advisors LLC’s holdings in Medtronic were worth $1,945,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently added to or reduced their stakes in the company. Morgan Stanley grew its stake in Medtronic by 9.2% during the third quarter. Morgan Stanley now owns 23,777,808 shares of the medical technology company’s stock worth $1,863,229,000 after buying an additional 1,994,123 shares during the last quarter. Norges Bank bought a new stake in Medtronic during the fourth quarter worth about $1,229,726,000. Sanders Capital LLC grew its stake in Medtronic by 2.8% during the fourth quarter. Sanders Capital LLC now owns 12,634,161 shares of the medical technology company’s stock worth $1,040,802,000 after buying an additional 346,641 shares during the last quarter. Charles Schwab Investment Management Inc. grew its stake in Medtronic by 0.9% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 11,089,400 shares of the medical technology company’s stock worth $893,352,000 after buying an additional 101,111 shares during the last quarter. Finally, American Century Companies Inc. grew its stake in Medtronic by 6.7% during the third quarter. American Century Companies Inc. now owns 10,297,135 shares of the medical technology company’s stock worth $806,883,000 after buying an additional 649,367 shares during the last quarter. 82.06% of the stock is owned by institutional investors.

Insider Activity at Medtronic

In related news, CEO Geoffrey Martha sold 19,113 shares of the firm’s stock in a transaction 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 transaction, the chief executive officer now owns 143,348 shares of the company’s stock, valued at $12,008,261.96. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other news, EVP Michael Marinaro sold 854 shares of Medtronic stock in a transaction dated 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 transaction, the executive vice president now owns 27,925 shares of the company’s stock, valued at approximately $2,321,684.50. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Geoffrey Martha sold 19,113 shares of the firm’s stock in a transaction dated 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 sale, the chief executive officer now owns 143,348 shares of the company’s stock, valued at approximately $12,008,261.96. The disclosure for this sale can be found here. 0.30% of the stock is owned by insiders.

Medtronic Stock Down 0.2 %

Shares of MDT stock opened at $77.19 on Thursday. The firm has a fifty day moving average of $81.71 and a 200-day moving average of $83.45. 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 plc has a 12-month low of $68.84 and a 12-month high of $91.00. The company has a market capitalization of $98.98 billion, a price-to-earnings ratio of 28.07, a P/E/G ratio of 2.25 and a beta of 0.82.

Medtronic (NYSE:MDT) last issued its quarterly earnings data on Thursday, May 23rd. The medical technology company reported $1.46 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.45 by $0.01. The company had revenue of $8.59 billion during the quarter, compared to the consensus estimate of $8.44 billion. Medtronic had a net margin of 11.36% and a return on equity of 13.47%. The firm’s revenue was up .5% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.57 earnings per share. As a group, equities research analysts predict that Medtronic plc will post 5.44 earnings per share for the current fiscal year.

Medtronic Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, July 12th. Investors of record on Friday, June 28th will be given a $0.70 dividend. The ex-dividend date is Friday, June 28th. This represents a $2.80 dividend on an annualized basis and a yield of 3.63%. This is an increase from Medtronic’s previous quarterly dividend of $0.69. Medtronic’s dividend payout ratio (DPR) is 101.82%.

Analyst Ratings Changes

MDT has been the topic of several research analyst reports. Needham & Company LLC reissued a “hold” rating on shares of Medtronic in a research note on Friday, May 24th. The Goldman Sachs Group initiated coverage on shares of Medtronic in a research note on Thursday, May 30th. They set a “sell” rating and a $83.00 price target on the stock. Wells Fargo & Company increased their price target on shares of Medtronic from $102.00 to $105.00 and gave the company an “overweight” rating in a research note on Friday, May 24th. Royal Bank of Canada reissued a “sector perform” rating and set a $92.00 price target on shares of Medtronic in a research note on Wednesday, June 5th. Finally, Truist Financial decreased their price target 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. Two equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and five have given a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $91.70.

About Medtronic

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.