Community Financial Services Group LLC Buys 2,898 Shares of Medtronic PLC (NYSE:MDT)

Community Financial Services Group LLC increased its stake in Medtronic PLC (NYSE:MDT) by 87.6% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 6,208 shares of the medical technology company’s stock after buying an additional 2,898 shares during the period. Community Financial Services Group LLC’s holdings in Medtronic were worth $674,000 at the end of the most recent reporting period.

A number of other hedge funds also recently added to or reduced their stakes in the stock. Krane Funds Advisors LLC bought a new position in shares of Medtronic during the second quarter valued at approximately $25,000. River & Mercantile Asset Management LLP bought a new position in shares of Medtronic during the second quarter valued at approximately $26,000. Lenox Wealth Advisors LLC increased its stake in shares of Medtronic by 393.3% during the third quarter. Lenox Wealth Advisors LLC now owns 296 shares of the medical technology company’s stock valued at $32,000 after purchasing an additional 236 shares in the last quarter. Redhawk Wealth Advisors Inc. bought a new position in shares of Medtronic during the second quarter valued at approximately $34,000. Finally, Rocky Mountain Advisers LLC increased its stake in shares of Medtronic by 100.0% during the second quarter. Rocky Mountain Advisers LLC now owns 400 shares of the medical technology company’s stock valued at $39,000 after purchasing an additional 200 shares in the last quarter. 81.14% of the stock is owned by institutional investors.

In related news, SVP Bradley E. Lerman sold 6,599 shares of the firm’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 value of $673,229.98. Following the sale, the senior vice president now owns 105,960 shares in the company, valued at $10,810,039.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Bradley E. Lerman sold 4,000 shares of the firm’s stock in a transaction that occurred on Monday, August 5th. The stock was sold at an average price of $100.31, for a total transaction of $401,240.00. Following the completion of the sale, the senior vice president now owns 52,906 shares in the company, valued at approximately $5,307,000.86. The disclosure for this sale can be found here. Insiders have sold 114,901 shares of company stock valued at $12,271,403 in the last three months. 0.28% of the stock is owned by insiders.

Shares of MDT opened at $105.29 on Friday. The company has a market capitalization of $141.17 billion, a P/E ratio of 20.17, a price-to-earnings-growth ratio of 2.59 and a beta of 0.64. The company has a quick ratio of 2.20, a current ratio of 2.67 and a debt-to-equity ratio of 0.49. The firm has a 50 day moving average of $108.20 and a 200 day moving average of $99.18. Medtronic PLC has a twelve month low of $81.66 and a twelve month high of $112.05.

Medtronic (NYSE:MDT) last announced its quarterly earnings results on Tuesday, August 20th. The medical technology company reported $1.26 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.18 by $0.08. The company had revenue of $7.49 billion during the quarter, compared to the consensus estimate of $7.40 billion. Medtronic had a net margin of 14.41% and a return on equity of 14.36%. The firm’s quarterly revenue was up 1.5% compared to the same quarter last year. During the same quarter last year, the firm earned $1.17 earnings per share. On average, sell-side analysts expect that Medtronic PLC will post 5.56 EPS for the current year.

The company also recently declared a quarterly dividend, which was paid on Friday, October 18th. Investors of record on Friday, September 27th were given a dividend of $0.54 per share. This represents a $2.16 annualized dividend and a dividend yield of 2.05%. The ex-dividend date of this dividend was Thursday, September 26th. Medtronic’s dividend payout ratio (DPR) is currently 41.38%.

A number of equities analysts have weighed in on the stock. UBS Group raised their target price on shares of Medtronic from $112.00 to $122.00 and gave the company a “buy” rating in a research note on Wednesday, August 21st. Royal Bank of Canada set a $110.00 target price on shares of Medtronic and gave the company a “buy” rating in a research note on Friday, August 16th. Wells Fargo & Co raised their target price on shares of Medtronic from $110.00 to $120.00 and gave the company an “outperform” rating in a research note on Wednesday, August 21st. Raymond James raised their target price on shares of Medtronic from $105.00 to $118.00 and gave the company an “outperform” rating in a research note on Wednesday, August 21st. Finally, Oppenheimer raised their target price on shares of Medtronic from $110.00 to $118.00 and gave the company an “outperform” rating in a research note on Wednesday, August 21st. Six equities research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. The stock has an average rating of “Buy” and a consensus target price of $114.33.

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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