Buckley Wealth Management LLC Cuts Position in Medtronic PLC (NYSE:MDT)

Buckley Wealth Management LLC lessened its stake in Medtronic PLC (NYSE:MDT) by 19.6% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 6,383 shares of the medical technology company’s stock after selling 1,560 shares during the quarter. Buckley Wealth Management LLC’s holdings in Medtronic were worth $693,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Krane Funds Advisors LLC purchased a new position in shares of Medtronic in the 2nd quarter valued at about $25,000. River & Mercantile Asset Management LLP purchased a new position in Medtronic during the 2nd quarter valued at about $26,000. Lenox Wealth Advisors LLC increased its holdings in Medtronic by 393.3% during the 3rd quarter. Lenox Wealth Advisors LLC now owns 296 shares of the medical technology company’s stock valued at $32,000 after acquiring an additional 236 shares in the last quarter. Redhawk Wealth Advisors Inc. purchased a new position in Medtronic during the 2nd quarter valued at about $34,000. Finally, Rocky Mountain Advisers LLC increased its holdings in Medtronic by 100.0% during the 2nd quarter. Rocky Mountain Advisers LLC now owns 400 shares of the medical technology company’s stock valued at $39,000 after acquiring an additional 200 shares in the last quarter. Institutional investors and hedge funds own 81.03% of the company’s stock.

In other Medtronic news, SVP Richard Kuntz sold 3,438 shares of the firm’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 transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, SVP Bradley E. Lerman sold 4,000 shares of the firm’s stock in a transaction dated Monday, August 5th. The stock was sold at an average price of $100.31, for a total transaction of $401,240.00. Following the sale, the senior vice president now directly owns 52,906 shares in the company, valued at $5,307,000.86. The disclosure for this sale can be found here. Insiders have sold a total of 118,339 shares of company stock worth $12,619,053 over the last ninety days. 0.28% of the stock is owned by corporate insiders.

Several equities analysts have weighed in on MDT shares. Needham & Company LLC restated a “buy” rating and set a $133.00 target price on shares of Medtronic in a report on Wednesday, August 28th. Bank of America set a $118.00 target price on shares of Medtronic and gave the company a “buy” rating in a report on Wednesday, August 21st. Stifel Nicolaus raised their target price on shares of Medtronic from $95.00 to $112.00 and gave the company a “hold” rating in a report on Wednesday, August 21st. Raymond James raised their target price on shares of Medtronic from $105.00 to $118.00 and gave the company an “outperform” rating in a report on Wednesday, August 21st. Finally, Barclays raised their target price on shares of Medtronic from $110.00 to $117.00 and gave the company an “overweight” rating in a report on Wednesday, August 21st. Six investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. The stock has an average rating of “Buy” and an average target price of $113.84.

Shares of Medtronic stock traded up $0.13 during mid-day trading on Friday, hitting $107.55. 283,396 shares of the stock were exchanged, compared to its average volume of 4,680,946. Medtronic PLC has a twelve month low of $81.66 and a twelve month high of $112.05. The stock has a market capitalization of $140.89 billion, a price-to-earnings ratio of 20.61, a price-to-earnings-growth ratio of 2.58 and a beta of 0.64. The company has a 50-day simple moving average of $108.18 and a 200 day simple moving average of $97.98. The company has a current ratio of 2.67, a quick ratio of 2.20 and a debt-to-equity ratio of 0.49.

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

The company also recently declared a quarterly dividend, which will be paid on Friday, October 18th. Shareholders of record on Friday, September 27th will be paid a dividend of $0.54 per share. The ex-dividend date is Thursday, September 26th. This represents a $2.16 annualized dividend and a dividend yield of 2.01%. Medtronic’s dividend payout ratio is currently 41.38%.

About Medtronic

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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