Medtronic PLC (NYSE:MDT) Shares Bought by JGP Wealth Management LLC
JGP Wealth Management LLC boosted its holdings in shares of Medtronic PLC (NYSE:MDT) by 3.0% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 41,921 shares of the medical technology company’s stock after purchasing an additional 1,232 shares during the period. Medtronic comprises approximately 1.4% of JGP Wealth Management LLC’s investment portfolio, making the stock its 26th biggest holding. JGP Wealth Management LLC’s holdings in Medtronic were worth $4,083,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. Legacy Financial Strategies LLC increased its stake in shares of Medtronic by 4.7% during the second quarter. Legacy Financial Strategies LLC now owns 7,237 shares of the medical technology company’s stock worth $724,000 after purchasing an additional 323 shares in the last quarter. Liberty Capital Management Inc. purchased a new stake in shares of Medtronic during the second quarter worth about $207,000. Raymond James Trust N.A. increased its stake in shares of Medtronic by 21.9% during the second quarter. Raymond James Trust N.A. now owns 43,600 shares of the medical technology company’s stock worth $4,246,000 after purchasing an additional 7,834 shares in the last quarter. Legacy Advisors LLC increased its stake in shares of Medtronic by 31.8% during the second quarter. Legacy Advisors LLC now owns 1,450 shares of the medical technology company’s stock worth $141,000 after purchasing an additional 350 shares in the last quarter. Finally, Centre Asset Management LLC increased its stake in shares of Medtronic by 58.5% during the second quarter. Centre Asset Management LLC now owns 168,820 shares of the medical technology company’s stock worth $16,441,000 after purchasing an additional 62,290 shares in the last quarter. Institutional investors own 79.99% of the company’s stock.
NYSE:MDT opened at $102.55 on Friday. The company has a quick ratio of 2.15, a current ratio of 2.59 and a debt-to-equity ratio of 0.49. The firm has a market cap of $137.54 billion, a price-to-earnings ratio of 19.65, a price-to-earnings-growth ratio of 2.63 and a beta of 0.68. The company has a 50-day moving average price of $98.87. Medtronic PLC has a 1-year low of $81.66 and a 1-year high of $103.29.
The company also recently announced a quarterly dividend, which was paid on Thursday, July 25th. Shareholders of record on Monday, July 8th were issued a $0.54 dividend. This represents a $2.16 annualized dividend and a yield of 2.11%. This is a positive change from Medtronic’s previous quarterly dividend of $0.50. The ex-dividend date of this dividend was Friday, July 5th. Medtronic’s payout ratio is presently 41.38%.
A number of analysts have recently commented on the stock. ValuEngine cut shares of Zumiez from a “hold” rating to a “sell” rating in a research note on Tuesday, July 2nd. Zacks Investment Research cut shares of GreenTree Hospitality Group from a “buy” rating to a “hold” rating in a research note on Monday, May 20th. Barclays set a $5.00 price objective on shares of Amneal Pharmaceuticals and gave the company a “hold” rating in a research note on Thursday, July 11th. Northland Securities assumed coverage on shares of THUNDER BRDG AC/SH SH in a research note on Thursday, June 20th. They set an “outperform” rating for the company. Finally, Needham & Company LLC upped their price objective on shares of AudioCodes to $20.00 and gave the company a “buy” rating in a research note on Tuesday, July 23rd. Six equities research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company. Medtronic presently has an average rating of “Buy” and a consensus target price of $106.05.
In other news, Director Richard H. Anderson bought 10,900 shares of the firm’s stock in a transaction on Friday, May 24th. The shares were bought at an average cost 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 of the company’s stock, valued at approximately $8,307,868.80. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Richard Kuntz sold 3,438 shares of the business’s stock in a transaction dated Monday, July 22nd. The shares were sold at an average price of $101.12, for a total transaction of $347,650.56. The disclosure for this sale can be found here. Insiders sold a total of 85,102 shares of company stock worth $8,244,274 over the last quarter. 0.28% of the stock is currently owned by company insiders.
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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