EP Wealth Advisors LLC Sells 322 Shares of Medtronic plc (NYSE:MDT)

EP Wealth Advisors LLC trimmed its holdings in shares of Medtronic plc (NYSE:MDT) by 3.7% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 8,324 shares of the medical technology company’s stock after selling 322 shares during the period. EP Wealth Advisors LLC’s holdings in Medtronic were worth $725,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also added to or reduced their stakes in MDT. Boyar Asset Management Inc. boosted its stake in shares of Medtronic by 2.6% during the fourth quarter. Boyar Asset Management Inc. now owns 4,655 shares of the medical technology company’s stock valued at $383,000 after purchasing an additional 120 shares in the last quarter. Hall Laurie J Trustee boosted its position in Medtronic by 0.3% during the 1st quarter. Hall Laurie J Trustee now owns 44,015 shares of the medical technology company’s stock valued at $3,835,000 after acquiring an additional 125 shares in the last quarter. Quent Capital LLC increased its holdings in shares of Medtronic by 8.0% in the 1st quarter. Quent Capital LLC now owns 1,680 shares of the medical technology company’s stock valued at $146,000 after acquiring an additional 125 shares during the period. Abbrea Capital LLC increased its holdings in shares of Medtronic by 2.5% in the 1st quarter. Abbrea Capital LLC now owns 5,077 shares of the medical technology company’s stock valued at $446,000 after acquiring an additional 125 shares during the period. Finally, Marino Stram & Associates LLC raised its position in shares of Medtronic by 1.8% in the 4th quarter. Marino Stram & Associates LLC now owns 7,127 shares of the medical technology company’s stock worth $587,000 after acquiring an additional 126 shares in the last quarter. Hedge funds and other institutional investors own 82.06% of the company’s stock.

Medtronic Stock Performance

MDT stock traded up $0.24 during midday trading on Friday, reaching $78.70. The stock had a trading volume of 4,573,359 shares, compared to its average volume of 6,318,938. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.55 and a current ratio of 2.03. The firm has a fifty day simple moving average of $80.51 and a two-hundred day simple moving average of $82.95. The stock has a market cap of $100.91 billion, a PE ratio of 28.81, a P/E/G ratio of 2.33 and a beta of 0.82. Medtronic plc has a 52-week low of $68.84 and a 52-week high of $91.00.

Medtronic (NYSE:MDT) last announced 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 firm 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 company’s revenue for the quarter was up .5% compared to the same quarter last year. During the same period last year, the business posted $1.57 earnings per share. As a group, equities research analysts anticipate that Medtronic plc will post 5.44 EPS for the current year.

Medtronic Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, July 12th. Stockholders of record on Friday, June 28th were issued a $0.70 dividend. This is an increase from Medtronic’s previous quarterly dividend of $0.69. This represents a $2.80 annualized dividend and a dividend yield of 3.56%. The ex-dividend date was Friday, June 28th. Medtronic’s dividend payout ratio is 101.82%.

Analyst Ratings Changes

Several research firms have issued reports on MDT. Needham & Company LLC reiterated a “hold” rating on shares of Medtronic in a research note on Friday, May 24th. Wells Fargo & Company increased their target price on shares of Medtronic from $102.00 to $105.00 and gave the company an “overweight” rating in a research report on Friday, May 24th. The Goldman Sachs Group began coverage on shares of Medtronic in a research note on Thursday, May 30th. They issued a “sell” rating and a $83.00 target price for the company. Truist Financial reduced their price target on Medtronic from $88.00 to $85.00 and set a “hold” rating on the stock in a research report on Tuesday, July 16th. Finally, UBS Group raised their price objective on Medtronic from $75.00 to $76.00 and gave the stock a “sell” rating in a research report on Friday, May 24th. Two investment analysts have rated the stock with a sell rating, five have assigned a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $90.90.

Insider Transactions at Medtronic

In related news, CEO Geoffrey Martha sold 19,113 shares of the business’s stock in a transaction on Friday, June 7th. The shares were sold at an average price of $83.77, for a total transaction of $1,601,096.01. Following the completion of the transaction, the chief executive officer now directly owns 143,348 shares in the company, valued at $12,008,261.96. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 0.30% of the company’s stock.

Medtronic Company 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.