Medtronic PLC (NYSE:MDT) Shares Acquired by Aries Wealth Management

Aries Wealth Management lifted its position in shares of Medtronic PLC (NYSE:MDT) by 4.2% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 3,950 shares of the medical technology company’s stock after acquiring an additional 160 shares during the quarter. Aries Wealth Management’s holdings in Medtronic were worth $425,000 at the end of the most recent quarter.

Several other institutional investors have also recently modified their holdings of MDT. Nachman Norwood & Parrott Inc grew its position in Medtronic by 1.9% during the third quarter. Nachman Norwood & Parrott Inc now owns 5,400 shares of the medical technology company’s stock worth $587,000 after buying an additional 99 shares during the period. Folger Nolan Fleming Douglas Capital Management Inc. grew its position in Medtronic by 2.1% during the second quarter. Folger Nolan Fleming Douglas Capital Management Inc. now owns 4,782 shares of the medical technology company’s stock worth $466,000 after buying an additional 100 shares during the period. Pekin Hardy Strauss Inc. grew its position in Medtronic by 1.5% during the second quarter. Pekin Hardy Strauss Inc. now owns 6,773 shares of the medical technology company’s stock worth $660,000 after buying an additional 100 shares during the period. Affiance Financial LLC grew its position in Medtronic by 1.3% during the third quarter. Affiance Financial LLC now owns 8,074 shares of the medical technology company’s stock worth $877,000 after buying an additional 102 shares during the period. Finally, Investors Research Corp grew its position in Medtronic by 13.2% during the third quarter. Investors Research Corp now owns 1,019 shares of the medical technology company’s stock worth $111,000 after buying an additional 119 shares during the period. Institutional investors and hedge funds own 81.14% of the company’s stock.

MDT stock opened at $104.49 on Wednesday. The company’s 50 day simple moving average is $108.29 and its 200-day simple moving average is $99.02. The firm has a market capitalization of $143.05 billion, a PE ratio of 20.08, a P/E/G ratio of 2.62 and a beta of 0.64. Medtronic PLC has a 12 month low of $81.66 and a 12 month high of $112.05. The company has a debt-to-equity ratio of 0.49, a current ratio of 2.67 and a quick ratio of 2.20.

Medtronic (NYSE:MDT) last released its quarterly earnings results on Tuesday, August 20th. The medical technology company reported $1.26 EPS for the quarter, beating the consensus estimate of $1.18 by $0.08. The business had revenue of $7.49 billion for the quarter, compared to analyst estimates of $7.40 billion. Medtronic had a net margin of 14.41% and a return on equity of 14.36%. The company’s quarterly revenue was up 1.5% on a year-over-year basis. During the same period in the prior year, the business earned $1.17 earnings per share. As a group, sell-side analysts anticipate that Medtronic PLC will post 5.56 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which was paid on Friday, October 18th. Stockholders of record on Friday, September 27th were given a $0.54 dividend. The ex-dividend date was Thursday, September 26th. This represents a $2.16 annualized dividend and a dividend yield of 2.07%. Medtronic’s dividend payout ratio is presently 41.38%.

MDT has been the topic of several recent analyst reports. Needham & Company LLC restated a “buy” rating and set a $133.00 target price on shares of Medtronic in a research report on Wednesday, August 28th. Cowen restated an “outperform” rating and set a $111.00 target price (up from $99.00) on shares of Medtronic in a research report on Wednesday, August 14th. Northland Securities restated a “hold” rating and set a $100.00 target price on shares of Medtronic in a research report on Wednesday, August 21st. Bank of America set a $118.00 target price on shares of Medtronic and gave the stock a “buy” rating in a research report on Wednesday, August 21st. Finally, BTIG Research upped their target price on shares of Medtronic to $120.00 and gave the stock a “buy” rating in a research report on Wednesday, August 21st. Six analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus price target of $113.84.

In related news, SVP Richard Kuntz sold 21,425 shares of the company’s stock in a transaction that occurred on Friday, September 27th. The shares were sold at an average price of $107.51, for a total transaction of $2,303,401.75. Following the transaction, the senior vice president now owns 78,916 shares of the company’s stock, valued at $8,484,259.16. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Bradley E. Lerman sold 6,599 shares of the company’s stock in a transaction that occurred on Friday, August 2nd. The shares were sold at an average price of $102.02, for a total transaction of $673,229.98. Following the transaction, the senior vice president now directly owns 105,960 shares in the company, valued at approximately $10,810,039.20. The disclosure for this sale can be found here. Insiders sold 114,901 shares of company stock worth $12,271,403 over the last quarter. Company insiders own 0.28% of the company’s stock.

Medtronic Profile

Medtronic plc develops, manufactures, distributes, and sells device-based medical therapies to hospitals, physicians, clinicians, and patients worldwide. It operates through four segments: Cardiac and Vascular Group, Minimally Invasive Therapies Group, Restorative Therapies Group, and Diabetes Group.

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Institutional Ownership by Quarter for Medtronic (NYSE:MDT)

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