Tuttle Tactical Management acquired a new position in shares of Medtronic PLC (NYSE:MDT) in the second quarter, Holdings Channel reports. The fund acquired 2,600 shares of the medical technology company’s stock, valued at approximately $222,000.

Several other institutional investors also recently made changes to their positions in MDT. Ballew Advisors Inc acquired a new stake in shares of Medtronic during the second quarter worth $100,000. BDO Wealth Advisors LLC grew its stake in shares of Medtronic by 99.6% during the first quarter. BDO Wealth Advisors LLC now owns 1,427 shares of the medical technology company’s stock worth $115,000 after purchasing an additional 712 shares during the period. Fort L.P. acquired a new stake in shares of Medtronic during the second quarter worth $121,000. Global Trust Asset Management LLC grew its stake in Medtronic by 112.1% in the second quarter. Global Trust Asset Management LLC now owns 1,523 shares of the medical technology company’s stock valued at $130,000 after acquiring an additional 805 shares during the period. Finally, Trustcore Financial Services LLC grew its stake in Medtronic by 97.3% in the second quarter. Trustcore Financial Services LLC now owns 1,760 shares of the medical technology company’s stock valued at $151,000 after acquiring an additional 868 shares during the period. 79.89% of the stock is owned by institutional investors and hedge funds.

In related news, SVP Richard Kuntz sold 47,176 shares of the company’s stock in a transaction dated Tuesday, August 28th. The stock was sold at an average price of $95.88, for a total transaction of $4,523,234.88. Following the sale, the senior vice president now owns 152,579 shares in the company, valued at $14,629,274.52. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Richard H. Anderson bought 2,600 shares of the company’s stock in a transaction that occurred on Thursday, August 23rd. The shares were bought at an average price of $95.88 per share, for a total transaction of $249,288.00. The disclosure for this purchase can be found here. Insiders have sold 218,879 shares of company stock valued at $20,941,537 over the last ninety days. 0.28% of the stock is owned by insiders.

A number of research analysts have issued reports on MDT shares. Morgan Stanley boosted their target price on Medtronic from $95.00 to $105.00 and gave the company an “equal weight” rating in a research note on Wednesday, August 22nd. Zacks Investment Research cut Medtronic from a “hold” rating to a “sell” rating in a research note on Tuesday, August 7th. Needham & Company LLC raised Medtronic from a “buy” rating to a “strong-buy” rating and boosted their target price for the company from $103.00 to $119.00 in a research note on Monday, August 13th. Argus boosted their target price on Medtronic from $95.00 to $108.00 and gave the company a “buy” rating in a research note on Monday, August 27th. Finally, Wells Fargo & Co boosted their target price on Medtronic from $95.00 to $101.00 and gave the company a “market perform” rating in a research note on Wednesday, August 22nd. Eight equities research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the company. The company presently has a consensus rating of “Buy” and an average price target of $100.61.

MDT stock opened at $96.37 on Tuesday. The company has a quick ratio of 2.06, a current ratio of 2.46 and a debt-to-equity ratio of 0.47. The stock has a market cap of $130.08 billion, a PE ratio of 20.20, a PEG ratio of 2.54 and a beta of 0.92. Medtronic PLC has a fifty-two week low of $76.41 and a fifty-two week high of $97.38.

Medtronic (NYSE:MDT) last posted its quarterly earnings data on Tuesday, August 21st. The medical technology company reported $1.17 earnings per share for the quarter, topping the consensus estimate of $1.11 by $0.06. The company had revenue of $7.38 billion during the quarter, compared to analysts’ expectations of $7.24 billion. Medtronic had a return on equity of 12.98% and a net margin of 10.56%. Medtronic’s revenue for the quarter was down .1% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.12 earnings per share. equities research analysts anticipate that Medtronic PLC will post 5.12 EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 19th. Stockholders of record on Friday, September 28th will be given a dividend of $0.50 per share. The ex-dividend date of this dividend is Thursday, September 27th. This represents a $2.00 annualized dividend and a dividend yield of 2.08%. Medtronic’s dividend payout ratio is currently 41.93%.

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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Institutional Ownership by Quarter for Medtronic (NYSE:MDT)

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