Walter & Keenan Financial Consulting Co. MI ADV Purchases 1,301 Shares of Medtronic PLC (MDT)

Walter & Keenan Financial Consulting Co. MI ADV boosted its position in shares of Medtronic PLC (NYSE:MDT) by 5.4% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 25,474 shares of the medical technology company’s stock after purchasing an additional 1,301 shares during the quarter. Walter & Keenan Financial Consulting Co. MI ADV’s holdings in Medtronic were worth $2,506,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also recently made changes to their positions in MDT. Ballew Advisors Inc bought a new stake in shares of Medtronic in the 2nd quarter valued at about $100,000. Fort L.P. bought a new stake in shares of Medtronic in the 2nd quarter valued at about $121,000. Global Trust Asset Management LLC increased its stake in shares of Medtronic by 112.1% in the 2nd quarter. Global Trust Asset Management LLC now owns 1,523 shares of the medical technology company’s stock valued at $130,000 after acquiring an additional 805 shares during the last quarter. Polaris Greystone Financial Group LLC increased its stake in shares of Medtronic by 255.1% in the 3rd quarter. Polaris Greystone Financial Group LLC now owns 1,321 shares of the medical technology company’s stock valued at $130,000 after acquiring an additional 949 shares during the last quarter. Finally, Trustcore Financial Services LLC increased its stake in shares of Medtronic by 97.3% in the 2nd quarter. Trustcore Financial Services LLC now owns 1,760 shares of the medical technology company’s stock valued at $151,000 after acquiring an additional 868 shares during the last quarter. 80.14% of the stock is owned by hedge funds and other institutional investors.

A number of analysts recently issued reports on MDT shares. Needham & Company LLC raised Medtronic from a “buy” rating to a “strong-buy” rating and increased their target price for the stock from $103.00 to $119.00 in a research note on Monday, August 13th. Wells Fargo & Co increased their target price on Medtronic from $95.00 to $101.00 and gave the stock a “market perform” rating in a research note on Wednesday, August 22nd. Stifel Nicolaus increased their target price on Medtronic from $87.00 to $96.00 and gave the stock a “hold” rating in a research note on Wednesday, August 22nd. Morgan Stanley increased their target price on Medtronic from $95.00 to $105.00 and gave the stock an “equal weight” rating in a research note on Wednesday, August 22nd. Finally, Argus increased their target price on Medtronic from $95.00 to $108.00 and gave the stock a “buy” rating in a research note on Monday, August 27th. Seven research analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus target price of $102.21.

NYSE:MDT opened at $89.45 on Tuesday. Medtronic PLC has a twelve month low of $76.41 and a twelve month high of $100.15. The company has a debt-to-equity ratio of 0.47, a current ratio of 2.46 and a quick ratio of 2.06. The company has a market cap of $121.21 billion, a price-to-earnings ratio of 18.75, a PEG ratio of 2.38 and a beta of 0.92.

Medtronic (NYSE:MDT) last released its quarterly earnings results on Tuesday, August 21st. The medical technology company reported $1.17 earnings per share for the quarter, topping analysts’ consensus estimates of $1.11 by $0.06. Medtronic had a return on equity of 12.98% and a net margin of 10.56%. The firm had revenue of $7.38 billion during the quarter, compared to the consensus estimate of $7.24 billion. During the same quarter in the prior year, the firm posted $1.12 EPS. The business’s revenue was down .1% on a year-over-year basis. On average, sell-side analysts forecast that Medtronic PLC will post 5.12 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which was paid on Friday, October 19th. Shareholders of record on Friday, September 28th were given a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a yield of 2.24%. The ex-dividend date of this dividend was Thursday, September 27th. Medtronic’s dividend payout ratio (DPR) is currently 41.93%.

In other news, EVP Geoffrey Martha sold 49,799 shares of the stock in a transaction that occurred on Monday, September 24th. The stock was sold at an average price of $97.93, for a total value of $4,876,816.07. Following the completion of the sale, the executive vice president now owns 87,872 shares of the company’s stock, valued at approximately $8,605,304.96. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, SVP Richard Kuntz sold 47,176 shares of the stock in a transaction that occurred on Tuesday, August 28th. The shares were sold at an average price of $95.88, for a total value of $4,523,234.88. Following the completion of the sale, the senior vice president now directly owns 152,579 shares of the company’s stock, valued at approximately $14,629,274.52. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 268,678 shares of company stock valued at $25,818,353. 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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