Toth Financial Advisory Corp Purchases 1,877 Shares of Medtronic plc (NYSE:MDT)

Toth Financial Advisory Corp lifted its position in shares of Medtronic plc (NYSE:MDT) by 3.7% in the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 52,799 shares of the medical technology company’s stock after acquiring an additional 1,877 shares during the quarter. Toth Financial Advisory Corp’s holdings in Medtronic were worth $4,601,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in MDT. Fortitude Family Office LLC purchased a new position in Medtronic in the 4th quarter valued at approximately $25,000. Leith Wheeler Investment Counsel Ltd. boosted its stake in Medtronic by 293.0% in the 4th quarter. Leith Wheeler Investment Counsel Ltd. now owns 316,643 shares of the medical technology company’s stock worth $26,000 after purchasing an additional 236,064 shares during the period. MeadowBrook Investment Advisors LLC purchased a new position in Medtronic during the 4th quarter valued at about $27,000. Financial Gravity Asset Management Inc. increased its position in shares of Medtronic by 317.0% during the third quarter. Financial Gravity Asset Management Inc. now owns 367 shares of the medical technology company’s stock valued at $29,000 after buying an additional 279 shares during the period. Finally, Fortis Group Advisors LLC lifted its holdings in shares of Medtronic by 100.0% in the fourth quarter. Fortis Group Advisors LLC now owns 460 shares of the medical technology company’s stock worth $38,000 after buying an additional 230 shares in the last quarter. Hedge funds and other institutional investors own 82.06% of the company’s stock.

Insider Activity

In other Medtronic news, CEO Geoffrey Martha sold 19,113 shares of the business’s stock in a transaction on 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 sale, the chief executive officer now directly owns 143,348 shares of the company’s stock, valued at $12,008,261.96. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, CEO Geoffrey Martha sold 19,113 shares of the company’s stock in a transaction that occurred 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 transaction, the chief executive officer now owns 143,348 shares in the company, valued at $12,008,261.96. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Michael Marinaro sold 854 shares of the business’s stock in a transaction on Monday, April 8th. The stock was 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 disclosure for this sale can be found here. Company insiders own 0.30% of the company’s stock.

Medtronic Trading Up 0.1 %

Shares of NYSE MDT traded up $0.08 during mid-day trading on Friday, hitting $78.71. The stock had a trading volume of 8,917,219 shares, compared to its average volume of 6,371,193. The firm has a market cap of $100.93 billion, a P/E ratio of 28.62, a price-to-earnings-growth ratio of 2.31 and a beta of 0.83. 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 business has a 50 day moving average price of $81.85 and a two-hundred day moving average price of $83.50. Medtronic plc has a 1 year low of $68.84 and a 1 year high of $91.00.

Medtronic (NYSE:MDT) last announced its quarterly earnings data on Thursday, May 23rd. The medical technology company reported $1.46 EPS for the quarter, beating the consensus estimate of $1.45 by $0.01. The business had revenue of $8.59 billion during the quarter, compared to analyst estimates 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% on a year-over-year basis. During the same quarter last year, the firm posted $1.57 earnings per share. On average, equities analysts anticipate that Medtronic plc will post 5.44 EPS for the current fiscal year.

Medtronic Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, July 12th. Shareholders of record on Friday, June 28th will be paid a dividend of $0.70 per share. This is an increase from Medtronic’s previous quarterly dividend of $0.69. The ex-dividend date is Friday, June 28th. This represents a $2.80 dividend on an annualized basis and a dividend yield of 3.56%. Medtronic’s dividend payout ratio (DPR) is currently 101.82%.

Analysts Set New Price Targets

Several analysts have issued reports on MDT shares. 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 on the stock. UBS Group boosted their target price on Medtronic from $75.00 to $76.00 and gave the stock a “sell” rating in a research report on Friday, May 24th. Wells Fargo & Company upped their target price on Medtronic from $102.00 to $105.00 and gave the stock an “overweight” rating in a research note on Friday, May 24th. Royal Bank of Canada reiterated a “sector perform” rating and set a $92.00 price target on shares of Medtronic in a research report on Wednesday, June 5th. Finally, Truist Financial decreased their price objective on shares of Medtronic from $90.00 to $88.00 and set a “hold” rating on the stock in a research report on Friday, May 24th. Two analysts have rated the stock with a sell rating, five have issued a hold rating and six have given a buy rating to the company. Based on data from MarketBeat.com, Medtronic currently has a consensus rating of “Hold” and an average 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.