Insider Selling: Medtronic PLC (NYSE:MDT) EVP Sells 11,000 Shares of Stock

Medtronic PLC (NYSE:MDT) EVP Geoffrey Martha sold 11,000 shares of the firm’s stock in a transaction on Thursday, June 6th. The stock was sold at an average price of $96.05, for a total value of $1,056,550.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.

NYSE:MDT opened at $97.39 on Friday. The company has a market capitalization of $130.62 billion, a price-to-earnings ratio of 18.66, a price-to-earnings-growth ratio of 2.50 and a beta of 0.68. Medtronic PLC has a 52-week low of $81.66 and a 52-week high of $100.15. The company’s fifty day simple moving average is $93.94. The company has a quick ratio of 2.15, a current ratio of 2.59 and a debt-to-equity ratio of 0.49.

Medtronic (NYSE:MDT) last posted its quarterly earnings data on Thursday, May 23rd. The medical technology company reported $1.54 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.47 by $0.07. The company had revenue of $8.15 billion during 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 quarterly revenue was up .0% on a year-over-year basis. During the same quarter last year, the company earned $1.42 earnings per share. On average, equities analysts predict that Medtronic PLC will post 5.46 earnings per share for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, July 25th. Investors of record on Monday, July 8th will be paid a dividend of $0.54 per share. This is a positive change from Medtronic’s previous quarterly dividend of $0.50. The ex-dividend date is Friday, July 5th. This represents a $2.16 annualized dividend and a yield of 2.22%. Medtronic’s dividend payout ratio (DPR) is currently 38.31%.

Large investors have recently bought and sold shares of the stock. Cordasco Financial Network bought a new stake in Medtronic during the first quarter worth about $27,000. Pin Oak Investment Advisors Inc. lifted its stake in Medtronic by 158.0% during the fourth quarter. Pin Oak Investment Advisors Inc. now owns 369 shares of the medical technology company’s stock worth $34,000 after purchasing an additional 226 shares during the last quarter. Spectrum Management Group Inc. lifted its stake in Medtronic by 353.8% during the first quarter. Spectrum Management Group Inc. now owns 413 shares of the medical technology company’s stock worth $38,000 after purchasing an additional 322 shares during the last quarter. Mackey Komara & Dankovich LLC bought a new stake in Medtronic during the first quarter worth about $38,000. Finally, Capital Financial Planning LLC bought a new stake in Medtronic during the fourth quarter worth about $42,000. 80.03% of the stock is owned by institutional investors.

MDT has been the subject of a number of recent research reports. Needham & Company LLC reissued a “buy” rating and issued a $121.00 target price on shares of Medtronic in a research report on Monday, May 27th. UBS Group raised their target price on Medtronic to $112.00 and gave the stock a “buy” rating in a research report on Friday, June 14th. Northland Securities reissued a “hold” rating and issued a $100.00 target price on shares of Medtronic in a research report on Thursday, June 20th. Zacks Investment Research upgraded Medtronic from a “sell” rating to a “hold” rating in a research report on Monday, May 20th. Finally, Wells Fargo & Co reduced their price target on Medtronic from $101.00 to $100.00 and set a “market perform” rating for the company in a research report on Thursday, April 4th. Seven research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the stock. The company presently has an average rating of “Buy” and an average price target of $105.48.

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.

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Insider Buying and Selling by Quarter for Medtronic (NYSE:MDT)

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