Financial Management Professionals Inc. Has $390,000 Stock Holdings in Medtronic plc (NYSE:MDT)

Financial Management Professionals Inc. boosted its holdings in shares of Medtronic plc (NYSE:MDT) by 16.0% in the first quarter, according to its most recent filing with the SEC. The firm owned 4,473 shares of the medical technology company’s stock after acquiring an additional 616 shares during the period. Financial Management Professionals Inc.’s holdings in Medtronic were worth $390,000 as of its most recent filing with the SEC.

Other institutional investors have also recently bought and sold shares of the company. Equity Investment Corp grew its holdings in Medtronic by 27.9% during the 4th quarter. Equity Investment Corp now owns 1,341,079 shares of the medical technology company’s stock worth $110,478,000 after acquiring an additional 292,459 shares during the period. Loudon Investment Management LLC boosted its position in shares of Medtronic by 9.5% during the fourth quarter. Loudon Investment Management LLC now owns 10,026 shares of the medical technology company’s stock worth $786,000 after purchasing an additional 874 shares in the last quarter. BKM Wealth Management LLC bought a new position in shares of Medtronic during the fourth quarter worth $941,000. International Assets Investment Management LLC boosted its position in shares of Medtronic by 8,340.3% during the fourth quarter. International Assets Investment Management LLC now owns 1,038,579 shares of the medical technology company’s stock worth $85,558,000 after purchasing an additional 1,026,274 shares in the last quarter. Finally, Tower Research Capital LLC TRC boosted its position in shares of Medtronic by 69.3% during the third quarter. Tower Research Capital LLC TRC now owns 40,476 shares of the medical technology company’s stock worth $3,172,000 after purchasing an additional 16,574 shares in the last quarter. Institutional investors and hedge funds own 82.06% of the company’s stock.

Insider Transactions at Medtronic

In other news, EVP Michael Marinaro sold 854 shares of the business’s stock in a transaction dated Monday, April 8th. The shares were sold at an average price of $83.14, for a total transaction of $71,001.56. Following the transaction, the executive vice president now directly owns 27,925 shares in the company, valued at approximately $2,321,684.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, EVP Michael Marinaro sold 854 shares of the business’s stock in a transaction dated Monday, April 8th. The shares were sold at an average price of $83.14, for a total transaction of $71,001.56. Following the transaction, the executive vice president now directly owns 27,925 shares in the company, valued at approximately $2,321,684.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Geoffrey Martha sold 19,113 shares of the business’s stock in a transaction dated Friday, June 7th. The stock was sold at an average price of $83.77, for a total transaction 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 disclosure for this sale can be found here. 0.30% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on the stock. Royal Bank of Canada reissued a “sector perform” rating and set a $92.00 price target on shares of Medtronic in a research report on Wednesday, June 5th. Truist Financial reduced their price target 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. UBS Group lifted their price target on shares of Medtronic from $75.00 to $76.00 and gave the stock a “sell” rating in a research report on Friday, May 24th. The Goldman Sachs Group started coverage on shares of Medtronic in a research report on Thursday, May 30th. They issued a “sell” rating and a $83.00 price objective on the stock. Finally, Wells Fargo & Company boosted their price objective on shares of Medtronic from $102.00 to $105.00 and gave the company an “overweight” rating in a research report on Friday, May 24th. Two analysts have rated the stock with a sell rating, five have given a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $93.00.

Medtronic Stock Up 0.1 %

Shares of MDT stock opened at $78.71 on Friday. The company has a current ratio of 2.03, a quick ratio of 1.55 and a debt-to-equity ratio of 0.47. Medtronic plc has a 1 year low of $68.84 and a 1 year high of $91.00. The firm’s fifty day moving average price is $81.85 and its two-hundred day moving average price is $83.50. The firm has a market capitalization of $100.93 billion, a P/E ratio of 28.62, a PEG ratio of 2.31 and a beta of 0.83.

Medtronic (NYSE:MDT) last issued its quarterly earnings results on Thursday, May 23rd. The medical technology company reported $1.46 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.45 by $0.01. Medtronic had a net margin of 11.36% and a return on equity of 13.47%. The firm had revenue of $8.59 billion for the quarter, compared to analyst estimates of $8.44 billion. During the same period in the previous year, the business earned $1.57 EPS. The company’s revenue was up .5% compared to the same quarter last year. On average, equities analysts predict that Medtronic plc will post 5.44 EPS for the current fiscal year.

Medtronic Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, July 12th. Stockholders of record on Friday, June 28th will be paid a dividend of $0.70 per share. The ex-dividend date of this dividend is Friday, June 28th. This is a positive change from Medtronic’s previous quarterly dividend of $0.69. This represents a $2.80 annualized dividend and a dividend yield of 3.56%. Medtronic’s payout ratio is currently 101.82%.

About Medtronic

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.