Medtronic PLC (NYSE:MDT) Shares Bought by Lakeview Capital Partners LLC

Lakeview Capital Partners LLC raised its position in Medtronic PLC (NYSE:MDT) by 3.2% during the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 5,402 shares of the medical technology company’s stock after purchasing an additional 166 shares during the period. Lakeview Capital Partners LLC’s holdings in Medtronic were worth $587,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently bought and sold shares of the stock. Nachman Norwood & Parrott Inc lifted 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. lifted 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. lifted 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 lifted 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, Liberty Wealth Management LLC lifted its position in Medtronic by 9.5% during the third quarter. Liberty Wealth Management LLC now owns 1,187 shares of the medical technology company’s stock worth $129,000 after buying an additional 103 shares during the period. 81.18% of the stock is currently owned by institutional investors and hedge funds.

Several equities analysts recently weighed in on MDT shares. Stifel Nicolaus increased their target price on Medtronic from $95.00 to $112.00 and gave the stock a “hold” rating in a research report on Wednesday, August 21st. Deutsche Bank increased their target price on Medtronic from $100.00 to $111.00 and gave the stock a “buy” rating in a research report on Monday, August 19th. Northland Securities reiterated a “hold” rating and set a $100.00 target price on shares of Medtronic in a research report on Wednesday, August 21st. UBS Group increased their target price on Medtronic from $112.00 to $122.00 and gave the stock a “buy” rating in a research report on Wednesday, August 21st. Finally, Royal Bank of Canada set a $110.00 target price on Medtronic and gave the stock a “buy” rating in a research report on Friday, August 16th. Six analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average target price of $114.33.

Shares of Medtronic stock traded up $0.23 during trading hours on Friday, reaching $107.03. The stock had a trading volume of 2,260,267 shares, compared to its average volume of 5,086,191. The firm has a 50 day simple moving average of $107.65 and a two-hundred day simple moving average of $100.69. The firm has a market capitalization of $141.59 billion, a price-to-earnings ratio of 20.50, a P/E/G ratio of 2.59 and a beta of 0.62. The company has a current ratio of 2.67, a quick ratio of 2.20 and a debt-to-equity ratio of 0.49. Medtronic PLC has a 1 year low of $81.66 and a 1 year high of $112.05.

Medtronic (NYSE:MDT) last released its quarterly earnings data on Tuesday, August 20th. The medical technology company reported $1.26 EPS for the quarter, topping analysts’ consensus estimates of $1.18 by $0.08. The company had revenue of $7.49 billion for the quarter, compared to the consensus estimate of $7.40 billion. Medtronic had a return on equity of 14.36% and a net margin of 14.41%. The company’s quarterly revenue was up 1.5% compared to the same quarter last year. During the same period last year, the business posted $1.17 EPS. Sell-side analysts forecast that Medtronic PLC will post 5.56 EPS for the current year.

The company also recently disclosed a quarterly dividend, which was paid on Friday, October 18th. Stockholders of record on Friday, September 27th were issued a $0.54 dividend. The ex-dividend date of this dividend was Thursday, September 26th. This represents a $2.16 dividend on an annualized basis and a dividend yield of 2.02%. Medtronic’s dividend payout ratio (DPR) is 41.38%.

In related news, EVP Robert John White sold 52,165 shares of the firm’s stock in a transaction dated Friday, November 1st. The stock was sold at an average price of $109.33, for a total transaction of $5,703,199.45. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, SVP Richard Kuntz sold 21,425 shares of the firm’s stock in a transaction dated Friday, September 27th. The shares were sold at an average price of $107.51, for a total value of $2,303,401.75. Following the sale, the senior vice president now owns 78,916 shares in the company, valued at $8,484,259.16. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 156,467 shares of company stock worth $16,900,132. Company insiders own 0.28% of the company’s stock.

About Medtronic

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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