Crumly & Associates Inc. Buys 442 Shares of Medtronic plc (NYSE:MDT)

Crumly & Associates Inc. lifted its stake in shares of Medtronic plc (NYSE:MDT) by 7.6% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 6,251 shares of the medical technology company’s stock after purchasing an additional 442 shares during the period. Crumly & Associates Inc.’s holdings in Medtronic were worth $492,000 at the end of the most recent quarter.

Other large investors also recently made changes to their positions in the company. LifeSteps Financial Inc. acquired a new position in shares of Medtronic during the 1st quarter worth approximately $27,000. Lynx Investment Advisory bought a new position in Medtronic during the second quarter worth $28,000. Tributary Capital Management LLC acquired a new position in shares of Medtronic in the first quarter valued at $33,000. Riverview Trust Co bought a new position in shares of Medtronic in the first quarter valued at about $39,000. Finally, Fortis Group Advisors LLC lifted its stake in shares of Medtronic by 100.0% during the 4th quarter. Fortis Group Advisors LLC now owns 460 shares of the medical technology company’s stock worth $38,000 after buying an additional 230 shares during the last quarter. Institutional investors and hedge funds own 82.06% of the company’s stock.

Analyst Upgrades and Downgrades

MDT has been the topic of a number of research reports. Citigroup decreased their price target on shares of Medtronic from $90.00 to $85.00 and set a “neutral” rating on the stock in a research note on Wednesday, July 10th. Piper Sandler increased their target price on Medtronic from $85.00 to $90.00 and gave the stock a “neutral” rating in a research note on Wednesday, August 21st. UBS Group upgraded Medtronic from a “sell” rating to a “neutral” rating and boosted their price target for the company from $76.00 to $90.00 in a research note on Thursday, August 15th. Robert W. Baird increased their price objective on Medtronic from $82.00 to $90.00 and gave the stock a “neutral” rating in a research report on Wednesday, August 21st. Finally, Stifel Nicolaus boosted their target price on shares of Medtronic from $85.00 to $87.00 and gave the company a “hold” rating in a research report on Wednesday, August 21st. One analyst has rated the stock with a sell rating, nine have given a hold rating, five have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $92.92.

Medtronic Price Performance

Shares of Medtronic stock traded down $1.33 on Thursday, reaching $89.70. 3,094,788 shares of the stock were exchanged, compared to its average volume of 6,275,099. The firm has a market cap of $115.02 billion, a PE ratio of 33.10, a P/E/G ratio of 2.52 and a beta of 0.82. The company has a debt-to-equity ratio of 0.55, a quick ratio of 1.61 and a current ratio of 2.13. Medtronic plc has a one year low of $68.84 and a one year high of $91.49. The firm’s 50 day moving average is $81.86 and its 200-day moving average is $82.54.

Medtronic (NYSE:MDT) last issued its quarterly earnings data on Tuesday, August 20th. The medical technology company reported $1.23 EPS for the quarter, beating the consensus estimate of $1.20 by $0.03. The business had revenue of $7.97 billion during the quarter, compared to the consensus estimate of $7.90 billion. Medtronic had a net margin of 12.06% and a return on equity of 13.68%. The firm’s revenue was up 3.4% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.20 EPS. As a group, analysts anticipate that Medtronic plc will post 5.46 EPS for the current fiscal year.

Medtronic Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 11th. Investors of record on Friday, September 27th will be issued a dividend of $0.70 per share. This represents a $2.80 annualized dividend and a dividend yield of 3.12%. The ex-dividend date is Friday, September 27th. Medtronic’s dividend payout ratio (DPR) is 101.82%.

Insiders Place Their Bets

In other news, CEO Geoffrey Martha sold 19,113 shares of Medtronic 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 sale, the chief executive officer now directly owns 143,348 shares of the company’s stock, valued at $12,008,261.96. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.30% of the company’s stock.

Medtronic Company Profile

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.