Parisi Gray Wealth Management Invests $60,000 in Medtronic plc (NYSE:MDT)

Parisi Gray Wealth Management purchased a new position in Medtronic plc (NYSE:MDT) in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 482 shares of the medical technology company’s stock, valued at approximately $60,000.

A number of other institutional investors have also bought and sold shares of MDT. Solstein Capital LLC bought a new position in shares of Medtronic during the first quarter valued at about $33,000. Altshuler Shaham Ltd purchased a new stake in shares of Medtronic during the first quarter valued at approximately $34,000. Corbenic Partners LLC grew its holdings in shares of Medtronic by 264.2% during the second quarter. Corbenic Partners LLC now owns 295 shares of the medical technology company’s stock valued at $37,000 after buying an additional 214 shares during the last quarter. Aspire Private Capital LLC grew its holdings in shares of Medtronic by 1,316.7% during the first quarter. Aspire Private Capital LLC now owns 340 shares of the medical technology company’s stock valued at $40,000 after buying an additional 316 shares during the last quarter. Finally, Newfound Research LLC purchased a new stake in shares of Medtronic during the second quarter valued at approximately $43,000. 79.59% of the stock is owned by institutional investors and hedge funds.

Shares of MDT opened at $122.57 on Thursday. Medtronic plc has a 1-year low of $98.94 and a 1-year high of $135.89. The company has a 50-day moving average of $129.46 and a 200 day moving average of $127.14. The firm has a market capitalization of $164.72 billion, a price-to-earnings ratio of 42.86, a PEG ratio of 2.62 and a beta of 0.80. The company has a debt-to-equity ratio of 0.50, a current ratio of 2.89 and a quick ratio of 2.34.

Medtronic (NYSE:MDT) last issued its quarterly earnings data on Monday, August 23rd. The medical technology company reported $1.41 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.32 by $0.09. Medtronic had a net margin of 12.29% and a return on equity of 13.85%. The firm had revenue of $7.99 billion for the quarter, compared to the consensus estimate of $7.88 billion. During the same quarter in the previous year, the firm earned $0.62 EPS. The company’s quarterly revenue was up 22.7% compared to the same quarter last year. On average, equities analysts anticipate that Medtronic plc will post 5.7 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 15th. Stockholders of record on Friday, September 24th will be given a $0.63 dividend. This represents a $2.52 dividend on an annualized basis and a dividend yield of 2.06%. The ex-dividend date of this dividend is Thursday, September 23rd.

A number of equities research analysts have recently commented on the stock. UBS Group increased their price target on shares of Medtronic from $145.00 to $149.00 and gave the company a “buy” rating in a report on Wednesday, August 25th. Piper Sandler restated an “overweight” rating and set a $152.00 price objective (up previously from $140.00) on shares of Medtronic in a research report on Tuesday, August 24th. Raymond James increased their price objective on shares of Medtronic from $135.00 to $142.00 and gave the company an “outperform” rating in a research report on Wednesday, August 25th. Truist increased their price objective on shares of Medtronic from $138.00 to $148.00 and gave the company a “buy” rating in a research report on Wednesday, August 25th. Finally, Credit Suisse Group increased their price target on shares of Medtronic from $137.00 to $146.00 and gave the stock an “outperform” rating in a research report on Wednesday, August 25th. Five investment analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, Medtronic presently has an average rating of “Buy” and an average target price of $144.18.

In other Medtronic news, CEO Geoffrey Martha sold 11,581 shares of the business’s stock in a transaction that occurred on Wednesday, August 25th. The shares were sold at an average price of $132.67, for a total transaction of $1,536,451.27. Following the sale, the chief executive officer now owns 97,317 shares of the company’s stock, valued at approximately $12,911,046.39. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, EVP Sean Salmon sold 28,419 shares of the business’s stock in a transaction on Wednesday, August 25th. The shares were sold at an average price of $134.08, for a total transaction of $3,810,419.52. Following the completion of the transaction, the executive vice president now owns 54,458 shares of the company’s stock, valued at $7,301,728.64. The disclosure for this sale can be found here. In the last ninety days, insiders sold 143,922 shares of company stock worth $18,906,460. Insiders own 0.47% of the company’s stock.

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.

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Institutional Ownership by Quarter for Medtronic (NYSE:MDT)

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