Medtronic PLC (NYSE:MDT) Shares Bought by SNS Financial Group LLC

SNS Financial Group LLC increased its holdings in Medtronic PLC (NYSE:MDT) by 36.9% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 12,673 shares of the medical technology company’s stock after buying an additional 3,415 shares during the quarter. SNS Financial Group LLC’s holdings in Medtronic were worth $1,234,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Cornerstone Advisors Inc. grew its stake in shares of Medtronic by 8.1% during the 2nd quarter. Cornerstone Advisors Inc. now owns 1,621 shares of the medical technology company’s stock worth $158,000 after purchasing an additional 122 shares during the period. Patriot Financial Group Insurance Agency LLC grew its stake in shares of Medtronic by 3.1% during the 1st quarter. Patriot Financial Group Insurance Agency LLC now owns 4,129 shares of the medical technology company’s stock worth $376,000 after purchasing an additional 126 shares during the period. Hanson & Doremus Investment Management grew its stake in shares of Medtronic by 0.9% during the 1st quarter. Hanson & Doremus Investment Management now owns 14,416 shares of the medical technology company’s stock worth $1,313,000 after purchasing an additional 128 shares during the period. Parkside Financial Bank & Trust grew its stake in shares of Medtronic by 9.8% during the 1st quarter. Parkside Financial Bank & Trust now owns 1,432 shares of the medical technology company’s stock worth $131,000 after purchasing an additional 128 shares during the period. Finally, Triangle Securities Wealth Management grew its stake in shares of Medtronic by 1.1% during the 1st quarter. Triangle Securities Wealth Management now owns 12,056 shares of the medical technology company’s stock worth $1,098,000 after purchasing an additional 134 shares during the period. Institutional investors own 80.08% of the company’s stock.

In other Medtronic news, SVP Carol A. Surface sold 9,000 shares of the firm’s stock in a transaction on Monday, June 17th. The stock was sold at an average price of $97.66, for a total value of $878,940.00. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Richard H. Anderson acquired 10,900 shares of the firm’s stock in a transaction on Friday, May 24th. The stock was purchased at an average price of $92.40 per share, for a total transaction of $1,007,160.00. Following the acquisition, the director now directly owns 89,912 shares in the company, valued at approximately $8,307,868.80. The disclosure for this purchase can be found here. Insiders sold a total of 95,701 shares of company stock worth $9,318,744 in the last 90 days. 0.28% of the stock is currently owned by insiders.

A number of equities research analysts have recently commented on MDT shares. Needham & Company LLC reaffirmed a “buy” rating on shares of Medtronic in a research note on Tuesday, July 23rd. UBS Group raised their price objective on shares of Medtronic to $112.00 and gave the stock a “buy” rating in a research note on Friday, June 14th. Barclays increased their target price on Medtronic from $104.00 to $110.00 and gave the company an “overweight” rating in a research report on Thursday, July 11th. Zacks Investment Research upgraded Medtronic from a “sell” rating to a “hold” rating in a research report on Monday, May 20th. Finally, Northland Securities reiterated a “hold” rating and set a $100.00 target price on shares of Medtronic in a research report on Thursday, June 20th. Seven investment analysts have rated the stock with a hold rating and fifteen have given a buy rating to the stock. Medtronic currently has an average rating of “Buy” and a consensus price target of $106.05.

MDT stock traded down $0.09 during midday trading on Wednesday, reaching $101.15. The stock had a trading volume of 134,146 shares, compared to its average volume of 4,038,101. The firm has a fifty day moving average price of $99.93. The company has a current ratio of 2.59, a quick ratio of 2.15 and a debt-to-equity ratio of 0.49. The stock has a market cap of $134.84 billion, a P/E ratio of 19.40, a price-to-earnings-growth ratio of 2.62 and a beta of 0.67. Medtronic PLC has a 52-week low of $81.66 and a 52-week high of $103.95.

Medtronic (NYSE:MDT) last announced its quarterly earnings data on Thursday, May 23rd. The medical technology company reported $1.54 earnings per share for the quarter, beating analysts’ consensus estimates of $1.47 by $0.07. The company had revenue of $8.15 billion for the quarter, compared to analyst estimates of $8.12 billion. Medtronic had a return on equity of 14.16% and a net margin of 15.15%. The firm’s revenue for the quarter was up .0% on a year-over-year basis. During the same quarter last year, the firm posted $1.42 EPS. On average, analysts predict that Medtronic PLC will post 5.47 EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which was paid on Thursday, July 25th. Shareholders of record on Monday, July 8th were issued a $0.54 dividend. The ex-dividend date of this dividend was Friday, July 5th. This represents a $2.16 dividend on an annualized basis and a yield of 2.14%. This is a positive change from Medtronic’s previous quarterly dividend of $0.50. Medtronic’s dividend payout ratio (DPR) is presently 41.38%.

Medtronic Company Profile

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.

Further Reading: What is the price-to-earnings growth (PEG) ratio?

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Institutional Ownership by Quarter for Medtronic (NYSE:MDT)

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