Medtronic PLC (NYSE:MDT) Stake Boosted by FinTrust Capital Advisors LLC

FinTrust Capital Advisors LLC boosted its holdings in shares of Medtronic PLC (NYSE:MDT) by 143.0% in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 22,070 shares of the medical technology company’s stock after acquiring an additional 12,987 shares during the quarter. Medtronic accounts for about 0.8% of FinTrust Capital Advisors LLC’s investment portfolio, making the stock its 27th largest holding. FinTrust Capital Advisors LLC’s holdings in Medtronic were worth $2,024,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Evolution Wealth Advisors LLC boosted its position in Medtronic by 403.7% during the 2nd quarter. Evolution Wealth Advisors LLC now owns 272 shares of the medical technology company’s stock worth $25,000 after acquiring an additional 218 shares during the period. Price Wealth LLC boosted its position in Medtronic by 73.2% during the 2nd quarter. Price Wealth LLC now owns 291 shares of the medical technology company’s stock worth $27,000 after acquiring an additional 123 shares during the period. JFS Wealth Advisors LLC boosted its position in Medtronic by 64.6% during the 2nd quarter. JFS Wealth Advisors LLC now owns 311 shares of the medical technology company’s stock worth $29,000 after acquiring an additional 122 shares during the period. Balentine LLC acquired a new stake in Medtronic during the 1st quarter worth about $33,000. Finally, Hoey Investments Inc. acquired a new stake in Medtronic during the 2nd quarter worth about $46,000. Hedge funds and other institutional investors own 79.90% of the company’s stock.

Shares of MDT traded down $0.08 on Wednesday, reaching $107.49. 3,685,569 shares of the stock traded hands, compared to its average volume of 6,011,681. The firm has a market cap of $144.49 billion, a price-to-earnings ratio of 33.06, a P/E/G ratio of 3.41 and a beta of 0.68. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.87 and a quick ratio of 1.53. Medtronic PLC has a 12 month low of $72.13 and a 12 month high of $122.15. The stock’s 50-day moving average price is $101.92 and its 200-day moving average price is $96.42.

Medtronic (NYSE:MDT) last released its quarterly earnings data on Tuesday, August 25th. The medical technology company reported $0.62 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.21 by $0.41. The business had revenue of $6.51 billion for the quarter, compared to analysts’ expectations of $5.48 billion. Medtronic had a return on equity of 10.47% and a net margin of 15.80%. Medtronic’s quarterly revenue was down 13.2% on a year-over-year basis. During the same period in the previous year, the business posted $1.26 earnings per share. As a group, equities research analysts forecast that Medtronic PLC will post 3.96 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Friday, October 16th. Investors of record on Friday, September 25th will be paid a $0.58 dividend. This represents a $2.32 annualized dividend and a yield of 2.16%. The ex-dividend date is Thursday, September 24th. Medtronic’s dividend payout ratio is 50.54%.

Several equities research analysts have recently issued reports on MDT shares. Credit Suisse Group lifted their price target on Medtronic from $117.00 to $118.00 and gave the company an “outperform” rating in a report on Wednesday, August 26th. Zacks Investment Research lowered Medtronic from a “hold” rating to a “strong sell” rating and set a $84.00 price target for the company. in a report on Wednesday, July 29th. UBS Group reduced their price target on Medtronic from $130.00 to $118.00 and set a “buy” rating for the company in a report on Friday, May 22nd. Raymond James lifted their price target on Medtronic from $107.00 to $115.00 and gave the company an “outperform” rating in a report on Wednesday, August 26th. Finally, SunTrust Banks reduced their price target on Medtronic from $130.00 to $105.00 in a report on Wednesday, May 27th. Three research analysts have rated the stock with a sell rating, four have given a hold rating, twenty have given a buy rating and one has issued a strong buy rating to the company. The company presently has an average rating of “Buy” and a consensus target price of $115.75.

In other Medtronic news, CFO Karen L. Parkhill sold 702 shares of the business’s stock in a transaction on Tuesday, September 15th. The stock was sold at an average price of $107.78, for a total value of $75,661.56. Following the transaction, the chief financial officer now owns 87,366 shares of the company’s stock, valued at $9,416,307.48. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, EVP Hoedt Rob Ten sold 9,563 shares of the business’s stock in a transaction on Wednesday, September 9th. The stock was sold at an average price of $105.05, for a total value of $1,004,593.15. Following the completion of the transaction, the executive vice president now directly owns 53,060 shares in the company, valued at approximately $5,573,953. The disclosure for this sale can be found here. 0.52% of the stock is owned by insiders.

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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