Tlwm Purchases 2,052 Shares of Medtronic plc (NYSE:MDT)

Tlwm grew its position in shares of Medtronic plc (NYSE:MDT) by 39.5% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 7,250 shares of the medical technology company’s stock after buying an additional 2,052 shares during the quarter. Tlwm’s holdings in Medtronic were worth $897,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Grandview Asset Management LLC purchased a new stake in Medtronic in the 1st quarter worth $25,000. Solstein Capital LLC purchased a new stake in Medtronic in the 1st quarter worth $33,000. Altshuler Shaham Ltd purchased a new stake in Medtronic in the 1st quarter worth $34,000. Corbenic Partners LLC increased its stake in Medtronic by 264.2% in the 2nd quarter. Corbenic Partners LLC now owns 295 shares of the medical technology company’s stock worth $37,000 after buying an additional 214 shares in the last quarter. Finally, Aspire Private Capital LLC increased its stake in Medtronic by 1,316.7% in the 1st quarter. Aspire Private Capital LLC now owns 340 shares of the medical technology company’s stock worth $40,000 after buying an additional 316 shares in the last quarter. 79.59% of the stock is currently owned by hedge funds and other institutional investors.

In other Medtronic news, SVP Bradley E. Lerman sold 4,000 shares of Medtronic stock in a transaction on Monday, August 2nd. The shares were sold at an average price of $131.52, for a total value of $526,080.00. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, CEO Geoffrey Martha sold 11,500 shares of Medtronic stock in a transaction on Monday, June 28th. The stock was sold at an average price of $125.29, for a total transaction of $1,440,835.00. The disclosure for this sale can be found here. Over the last three months, insiders have sold 106,390 shares of company stock worth $14,140,470. 0.47% of the stock is currently owned by corporate insiders.

Shares of Medtronic stock traded up $1.04 on Wednesday, hitting $131.62. 119,553 shares of the company traded hands, compared to its average volume of 4,377,941. The stock’s 50 day moving average price is $129.86 and its 200-day moving average price is $125.79. The company has a current ratio of 2.89, a quick ratio of 2.34 and a debt-to-equity ratio of 0.50. Medtronic plc has a 52 week low of $98.94 and a 52 week high of $135.89. The company has a market cap of $176.88 billion, a PE ratio of 45.66, a PEG ratio of 2.62 and a beta of 0.80.

Medtronic (NYSE:MDT) last posted its quarterly earnings results on Monday, August 23rd. The medical technology company reported $1.41 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.32 by $0.09. The firm had revenue of $7.99 billion during the quarter, compared to the consensus estimate of $7.88 billion. Medtronic had a net margin of 12.29% and a return on equity of 13.85%. The company’s revenue was up 22.7% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.62 earnings per share. As a group, research analysts anticipate that Medtronic plc will post 5.7 EPS for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, October 15th. Investors of record on Friday, September 24th will be issued a dividend of $0.63 per share. This represents a $2.52 annualized dividend and a yield of 1.91%. The ex-dividend date of this dividend is Thursday, September 23rd.

A number of brokerages have issued reports on MDT. Truist Securities increased their price target on Medtronic from $138.00 to $148.00 and gave the stock a “buy” rating in a research note on Wednesday, August 25th. BTIG Research lowered Medtronic from a “buy” rating to a “neutral” rating in a research report on Monday, August 9th. raised their price objective on Medtronic from $133.00 to $143.00 and gave the company a “buy” rating in a research report on Friday, May 28th. Citigroup restated a “focus list” rating and set a $153.00 price objective (up previously from $143.00) on shares of Medtronic in a research report on Wednesday, August 25th. Finally, Stifel Nicolaus raised their price objective on Medtronic from $140.00 to $145.00 and gave the company a “buy” rating in a research report on Wednesday, August 25th. Five analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Buy” and a consensus price target of $144.18.

Medtronic Company Profile

Medtronic Plc is a medical technology company, which engages in the development, manufacture, distribution, and sale of device-based medical therapies and services. It operates through the following segments: Cardiac and Vascular Group; Minimally Invasive Technologies Group; Restorative Therapies Group; and Diabetes Group.

Featured Article: Call Option

Want to see what other hedge funds are holding MDT? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Medtronic plc (NYSE:MDT).

Institutional Ownership by Quarter for Medtronic (NYSE:MDT)

Receive News & Ratings for Medtronic Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Medtronic and related companies with MarketBeat.com's FREE daily email newsletter.