Medtronic plc (NYSE:MDT) Shares Purchased by Prospera Financial Services Inc

Prospera Financial Services Inc lifted its holdings in Medtronic plc (NYSE:MDT) by 3,039.6% in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,872,220 shares of the medical technology company’s stock after purchasing an additional 1,812,587 shares during the quarter. Prospera Financial Services Inc’s holdings in Medtronic were worth $5,914,000 as of its most recent SEC filing.

Several other institutional investors have also bought and sold shares of the company. Corundum Group Inc. lifted its holdings in shares of Medtronic by 3.6% during the 1st quarter. Corundum Group Inc. now owns 2,311 shares of the medical technology company’s stock valued at $273,000 after acquiring an additional 80 shares in the last quarter. Tranquility Partners LLC lifted its holdings in shares of Medtronic by 2.6% during the 2nd quarter. Tranquility Partners LLC now owns 3,136 shares of the medical technology company’s stock valued at $389,000 after acquiring an additional 80 shares in the last quarter. Schmidt P J Investment Management Inc. lifted its holdings in shares of Medtronic by 1.9% during the 2nd quarter. Schmidt P J Investment Management Inc. now owns 4,355 shares of the medical technology company’s stock valued at $560,000 after acquiring an additional 80 shares in the last quarter. South State CORP. lifted its holdings in Medtronic by 2.1% in the 1st quarter. South State CORP. now owns 3,983 shares of the medical technology company’s stock worth $471,000 after buying an additional 83 shares in the last quarter. Finally, TRUE Private Wealth Advisors lifted its holdings in Medtronic by 3.4% in the 1st quarter. TRUE Private Wealth Advisors now owns 2,589 shares of the medical technology company’s stock worth $307,000 after buying an additional 86 shares in the last quarter. 79.59% of the stock is owned by hedge funds and other institutional investors.

In related news, SVP Bradley E. Lerman sold 50,775 shares of the stock in a transaction that occurred on Tuesday, August 31st. The shares were sold at an average price of $134.17, for a total transaction of $6,812,481.75. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Bradley E. Lerman sold 4,000 shares of the stock in a transaction that occurred on Monday, August 2nd. The shares were sold at an average price of $131.52, for a total transaction of $526,080.00. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 94,775 shares of company stock valued at $12,685,433. Company insiders own 0.47% of the company’s stock.

Shares of NYSE:MDT opened at $130.07 on Monday. The company has a 50 day moving average of $130.28 and a 200-day moving average of $126.49. The firm has a market cap of $174.80 billion, a P/E ratio of 45.46, a P/E/G ratio of 2.62 and a beta of 0.80. Medtronic plc has a twelve month low of $98.94 and a twelve month high of $135.89. The company has a current ratio of 2.89, a quick ratio of 2.34 and a debt-to-equity ratio of 0.50.

Medtronic (NYSE:MDT) last issued its quarterly earnings results on Monday, August 23rd. The medical technology company reported $1.41 earnings per share for the quarter, topping analysts’ consensus estimates of $1.32 by $0.09. The company had revenue of $7.99 billion during the quarter, compared to analyst estimates of $7.88 billion. Medtronic had a net margin of 12.29% and a return on equity of 13.85%. The business’s revenue for the quarter was up 22.7% compared to the same quarter last year. During the same period in the prior year, the business posted $0.62 EPS. Equities research analysts forecast that Medtronic plc will post 5.7 EPS for the current year.

The business also recently declared a quarterly dividend, which will be paid on Friday, October 15th. Stockholders of record on Friday, September 24th will be paid a $0.63 dividend. This represents a $2.52 dividend on an annualized basis and a dividend yield of 1.94%. The ex-dividend date of this dividend is Thursday, September 23rd.

A number of equities analysts have commented on the stock. UBS Group boosted their price objective on shares of Medtronic from $145.00 to $149.00 and gave the stock a “buy” rating in a report on Wednesday, August 25th. Stifel Nicolaus boosted their price objective on shares of Medtronic from $140.00 to $145.00 and gave the stock a “buy” rating in a report on Wednesday, August 25th. Wells Fargo & Company boosted their price objective on shares of Medtronic from $140.00 to $151.00 and gave the stock an “overweight” rating in a report on Wednesday, August 25th. Argus boosted their price objective on shares of Medtronic from $150.00 to $165.00 and gave the stock a “buy” rating in a report on Friday, August 27th. Finally, Piper Sandler reissued an “overweight” rating and issued a $152.00 target price (up previously from $140.00) on shares of Medtronic in a research report on Tuesday, August 24th. Five research analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus target price of $144.18.

Medtronic Company Profile

Medtronic Plc is a medical technology company, which engages in the development, manufacture, distribution, and sale of device-based medical therapies and services. It operates through the following segments: Cardiac and Vascular Group; Minimally Invasive Technologies Group; Restorative Therapies Group; and Diabetes Group.

Further Reading: Is the QQQ ETF safe?

Want to see what other hedge funds are holding MDT? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Medtronic plc (NYSE:MDT).

Institutional Ownership by Quarter for Medtronic (NYSE:MDT)

Receive News & Ratings for Medtronic Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Medtronic and related companies with MarketBeat.com's FREE daily email newsletter.