Jupiter Wealth Management LLC purchased a new position in Medtronic PLC (NYSE:MDT – Free Report) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 6,000 shares of the medical technology company’s stock, valued at approximately $469,000.
Other large investors also recently modified their holdings of the company. Brighton Jones LLC boosted its holdings in Medtronic by 1,368.0% in the 4th quarter. Brighton Jones LLC now owns 39,989 shares of the medical technology company’s stock valued at $3,194,000 after purchasing an additional 37,265 shares during the period. Sivia Capital Partners LLC boosted its stake in Medtronic by 9.6% during the second quarter. Sivia Capital Partners LLC now owns 4,356 shares of the medical technology company’s stock valued at $380,000 after buying an additional 381 shares during the period. Jump Financial LLC purchased a new position in Medtronic during the second quarter worth about $299,000. Main Street Financial Solutions LLC raised its holdings in shares of Medtronic by 28.9% in the 2nd quarter. Main Street Financial Solutions LLC now owns 14,356 shares of the medical technology company’s stock valued at $1,251,000 after acquiring an additional 3,218 shares in the last quarter. Finally, HUB Investment Partners LLC raised its holdings in shares of Medtronic by 21.3% in the 2nd quarter. HUB Investment Partners LLC now owns 19,226 shares of the medical technology company’s stock valued at $1,676,000 after acquiring an additional 3,376 shares in the last quarter. 82.06% of the stock is currently owned by institutional investors.
Medtronic Stock Performance
Medtronic stock opened at $93.44 on Friday. The firm has a fifty day simple moving average of $84.39 and a two-hundred day simple moving average of $86.06. The company has a quick ratio of 1.62, a current ratio of 2.13 and a debt-to-equity ratio of 0.52. Medtronic PLC has a twelve month low of $73.31 and a twelve month high of $106.33. The company has a market capitalization of $119.60 billion, a PE ratio of 25.05, a P/E/G ratio of 2.47 and a beta of 0.55.
Medtronic Announces Dividend
The business also recently declared a quarterly dividend, which will be paid on Friday, October 16th. Investors of record on Friday, September 25th will be given a dividend of $0.72 per share. This represents a $2.88 annualized dividend and a yield of 3.1%. The ex-dividend date is Friday, September 25th. Medtronic’s dividend payout ratio (DPR) is presently 77.21%.
Insider Buying and Selling
In other Medtronic news, EVP Harry Skip Kiil sold 4,189 shares of Medtronic stock in a transaction that occurred on Monday, June 8th. The stock was sold at an average price of $80.44, for a total value of $336,963.16. Following the transaction, the executive vice president directly owned 37,227 shares of the company’s stock, valued at $2,994,539.88. The trade was a 10.11% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.26% of the stock is owned by company insiders.
Wall Street Analyst Weigh In
MDT has been the subject of several recent analyst reports. Jefferies Financial Group reissued a “hold” rating and set a $88.00 price objective on shares of Medtronic in a report on Thursday, June 4th. TD Cowen cut their price target on shares of Medtronic from $119.00 to $100.00 and set a “buy” rating for the company in a research note on Friday, July 10th. Stifel Nicolaus set a $80.00 price target on shares of Medtronic in a report on Wednesday, June 3rd. Truist Financial dropped their price objective on shares of Medtronic from $95.00 to $86.00 and set a “hold” rating for the company in a report on Thursday, June 4th. Finally, Wall Street Zen upgraded shares of Medtronic from a “hold” rating to a “buy” rating in a research report on Saturday, July 18th. Eighteen analysts have rated the stock with a Buy rating and nine have given a Hold rating to the company. Based on data from MarketBeat, Medtronic presently has an average rating of “Moderate Buy” and a consensus price target of $98.83.
Read Our Latest Stock Analysis on Medtronic
Medtronic Profile
Medtronic plc is a global medical technology company that develops and manufactures a broad range of therapeutic devices and health care solutions. Headquartered legally in Ireland with principal operational offices in the United States, the company markets products to hospitals, physicians and health systems worldwide and has grown from its founding in 1949 into one of the largest medical-device manufacturers serving global health-care markets.
Medtronic’s offerings span several clinical areas, including cardiac rhythm and heart failure (pacemakers, implantable cardioverter‑defibrillators and related cardiac therapies), minimally invasive and surgical technologies (laparoscopic and advanced energy devices, visualization systems and surgical innovations), restorative therapies (spine and orthopedics, neuromodulation and neurovascular treatments) and diabetes management (insulin-delivery systems and glucose monitoring solutions).
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