Squar Milner Financial Services LLC Increases Holdings in Medtronic PLC (NYSE:MDT)

Squar Milner Financial Services LLC increased its position in Medtronic PLC (NYSE:MDT) by 54.0% in the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 6,377 shares of the medical technology company’s stock after acquiring an additional 2,235 shares during the quarter. Squar Milner Financial Services LLC’s holdings in Medtronic were worth $692,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently made changes to their positions in MDT. Aviance Capital Partners LLC grew its holdings in Medtronic by 5.1% during the 2nd quarter. Aviance Capital Partners LLC now owns 5,098 shares of the medical technology company’s stock valued at $496,000 after buying an additional 247 shares in the last quarter. LaFleur & Godfrey LLC grew its holdings in Medtronic by 10.5% during the 2nd quarter. LaFleur & Godfrey LLC now owns 6,341 shares of the medical technology company’s stock valued at $618,000 after buying an additional 600 shares in the last quarter. Hayden Royal LLC purchased a new position in Medtronic during the 2nd quarter valued at about $275,000. Cim LLC grew its holdings in Medtronic by 12.9% during the 2nd quarter. Cim LLC now owns 4,189 shares of the medical technology company’s stock valued at $408,000 after buying an additional 480 shares in the last quarter. Finally, Concentric Wealth Management LLC grew its holdings in Medtronic by 3.1% during the 2nd quarter. Concentric Wealth Management LLC now owns 19,536 shares of the medical technology company’s stock valued at $1,903,000 after buying an additional 595 shares in the last quarter. 81.14% of the stock is owned by institutional investors.

NYSE:MDT traded up $0.62 during mid-day trading on Wednesday, reaching $105.11. The stock had a trading volume of 257,791 shares, compared to its average volume of 3,723,347. The firm has a 50 day moving average price of $108.29 and a two-hundred day moving average price of $99.02. The stock has a market capitalization of $143.05 billion, a P/E ratio of 20.18, a P/E/G ratio of 2.62 and a beta of 0.64. Medtronic PLC has a one year low of $81.66 and a one year high of $112.05. The company has a debt-to-equity ratio of 0.49, a quick ratio of 2.20 and a current ratio of 2.67.

Medtronic (NYSE:MDT) last released its earnings results on Tuesday, August 20th. The medical technology company reported $1.26 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.18 by $0.08. The company had revenue of $7.49 billion during the quarter, compared to the consensus estimate of $7.40 billion. Medtronic had a return on equity of 14.36% and a net margin of 14.41%. Medtronic’s quarterly revenue was up 1.5% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.17 EPS. Research analysts forecast that Medtronic PLC will post 5.56 earnings per share for the current year.

The business also recently declared a quarterly dividend, which was paid on Friday, October 18th. Shareholders of record on Friday, September 27th were paid a $0.54 dividend. The ex-dividend date was Thursday, September 26th. This represents a $2.16 dividend on an annualized basis and a yield of 2.05%. Medtronic’s dividend payout ratio (DPR) is currently 41.38%.

A number of research firms have weighed in on MDT. Barclays lifted their target price on Medtronic from $110.00 to $117.00 and gave the company an “overweight” rating in a report on Wednesday, August 21st. ValuEngine lowered Medtronic from a “buy” rating to a “hold” rating in a report on Thursday, August 1st. UBS Group lifted their target price on Medtronic from $112.00 to $122.00 and gave the company a “buy” rating in a report on Wednesday, August 21st. Needham & Company LLC reaffirmed a “buy” rating and set a $133.00 target price on shares of Medtronic in a report on Wednesday, August 28th. Finally, Royal Bank of Canada set a $110.00 target price on Medtronic and gave the company a “buy” rating in a report on Friday, August 16th. Six equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. Medtronic currently has an average rating of “Buy” and an average price target of $113.84.

In other Medtronic news, SVP Bradley E. Lerman sold 6,599 shares of Medtronic stock in a transaction that occurred on Friday, August 2nd. The stock was sold at an average price of $102.02, for a total value of $673,229.98. Following the transaction, the senior vice president now directly owns 105,960 shares of the company’s stock, valued at approximately $10,810,039.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Richard Kuntz sold 21,425 shares of Medtronic stock in a transaction that occurred on Friday, September 27th. The stock was sold at an average price of $107.51, for a total value of $2,303,401.75. Following the completion of the transaction, the senior vice president now directly owns 78,916 shares in the company, valued at $8,484,259.16. The disclosure for this sale can be found here. Insiders sold a total of 114,901 shares of company stock worth $12,271,403 over the last ninety days. Insiders own 0.28% of the company’s stock.

Medtronic 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.

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Institutional Ownership by Quarter for Medtronic (NYSE:MDT)

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