Mount Yale Investment Advisors LLC Has $630,000 Stake in Medtronic plc (NYSE:MDT)

Mount Yale Investment Advisors LLC lifted its holdings in shares of Medtronic plc (NYSE:MDT) by 2.6% during the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 7,227 shares of the medical technology company’s stock after purchasing an additional 180 shares during the period. Mount Yale Investment Advisors LLC’s holdings in Medtronic were worth $630,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in MDT. Boyar Asset Management Inc. raised its position in shares of Medtronic by 2.6% during the 4th quarter. Boyar Asset Management Inc. now owns 4,655 shares of the medical technology company’s stock valued at $383,000 after acquiring an additional 120 shares during the last quarter. Hall Laurie J Trustee grew its position in shares of Medtronic by 0.3% during the 1st quarter. Hall Laurie J Trustee now owns 44,015 shares of the medical technology company’s stock worth $3,835,000 after buying an additional 125 shares during the period. Quent Capital LLC raised its position in shares of Medtronic by 8.0% in the 1st quarter. Quent Capital LLC now owns 1,680 shares of the medical technology company’s stock valued at $146,000 after acquiring an additional 125 shares during the period. Abbrea Capital LLC boosted its stake in Medtronic by 2.5% during the 1st quarter. Abbrea Capital LLC now owns 5,077 shares of the medical technology company’s stock worth $446,000 after acquiring an additional 125 shares during the last quarter. Finally, Marino Stram & Associates LLC increased its stake in Medtronic by 1.8% in the fourth quarter. Marino Stram & Associates LLC now owns 7,127 shares of the medical technology company’s stock valued at $587,000 after purchasing an additional 126 shares in the last quarter. Institutional investors own 82.06% of the company’s stock.

Medtronic Trading Up 0.3 %

Shares of MDT traded up $0.24 during trading hours on Tuesday, hitting $80.24. 753,904 shares of the stock were exchanged, compared to its average volume of 6,282,170. The business has a 50-day moving average of $80.27 and a 200-day moving average of $82.79. Medtronic plc has a fifty-two week low of $68.84 and a fifty-two week high of $89.18. The company has a debt-to-equity ratio of 0.47, a current ratio of 2.03 and a quick ratio of 1.55. The firm has a market capitalization of $102.89 billion, a P/E ratio of 29.09, a price-to-earnings-growth ratio of 2.29 and a beta of 0.82.

Medtronic (NYSE:MDT) last issued its quarterly earnings results on Thursday, May 23rd. The medical technology company reported $1.46 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.45 by $0.01. The firm had revenue of $8.59 billion for the quarter, compared to analyst estimates of $8.44 billion. Medtronic had a return on equity of 13.47% and a net margin of 11.36%. The company’s revenue was up .5% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.57 earnings per share. On average, research analysts expect that Medtronic plc will post 5.44 EPS for the current year.

Medtronic Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, July 12th. Stockholders of record on Friday, June 28th were issued a $0.70 dividend. This represents a $2.80 dividend on an annualized basis and a dividend yield of 3.49%. The ex-dividend date of this dividend was Friday, June 28th. This is a positive change from Medtronic’s previous quarterly dividend of $0.69. Medtronic’s dividend payout ratio (DPR) is currently 101.82%.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on MDT shares. Needham & Company LLC restated a “hold” rating on shares of Medtronic in a research report on Friday, May 24th. UBS Group lifted their price target on shares of Medtronic from $75.00 to $76.00 and gave the company a “sell” rating in a research note on Friday, May 24th. Wells Fargo & Company raised their price objective on shares of Medtronic from $102.00 to $105.00 and gave the stock an “overweight” rating in a report on Friday, May 24th. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $92.00 target price on shares of Medtronic in a research note on Wednesday, July 17th. Finally, The Goldman Sachs Group started coverage on Medtronic in a report on Thursday, May 30th. They issued a “sell” rating and a $83.00 price target on the stock. Two analysts have rated the stock with a sell rating, five have given a hold rating and five have assigned a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $90.90.

Insider Buying and Selling

In other Medtronic news, CEO Geoffrey Martha sold 19,113 shares of Medtronic stock in a transaction on Friday, June 7th. The shares were sold at an average price of $83.77, for a total transaction of $1,601,096.01. Following the transaction, the chief executive officer now directly owns 143,348 shares of the company’s stock, valued at approximately $12,008,261.96. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.30% of the stock is currently owned by corporate insiders.

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.