Ronald Blue & Co. LLC bought a new position in shares of Medtronic PLC (NYSE:MDT) during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 2,745 shares of the medical technology company’s stock, valued at approximately $221,000.
Several other hedge funds and other institutional investors also recently bought and sold shares of the stock. Baystate Wealth Management LLC raised its position in Medtronic PLC by 40.9% in the first quarter. Baystate Wealth Management LLC now owns 1,959 shares of the medical technology company’s stock worth $157,000 after buying an additional 569 shares in the last quarter. North Star Investment Management Corp. raised its position in Medtronic PLC by 4.4% in the first quarter. North Star Investment Management Corp. now owns 1,973 shares of the medical technology company’s stock worth $159,000 after buying an additional 83 shares in the last quarter. Liberty Capital Management Inc. raised its position in Medtronic PLC by 45.6% in the first quarter. Liberty Capital Management Inc. now owns 2,111 shares of the medical technology company’s stock worth $170,000 after buying an additional 661 shares in the last quarter. Hudock Capital Group LLC raised its position in Medtronic PLC by 0.6% in the first quarter. Hudock Capital Group LLC now owns 2,184 shares of the medical technology company’s stock worth $175,000 after buying an additional 12 shares in the last quarter. Finally, LeJeune Puetz Investment Counsel LLC bought a new position in Medtronic PLC during the fourth quarter worth $167,000. Institutional investors own 83.54% of the company’s stock.
Shares of Medtronic PLC (NYSE MDT) traded down 0.31% during trading on Friday, hitting $83.41. The stock had a trading volume of 4,440,985 shares. Medtronic PLC has a 1-year low of $69.35 and a 1-year high of $89.72. The stock’s 50-day moving average price is $85.63 and its 200 day moving average price is $83.16. The firm has a market capitalization of $113.36 billion, a P/E ratio of 28.86 and a beta of 1.02.
Medtronic PLC (NYSE:MDT) last released its quarterly earnings results on Thursday, May 25th. The medical technology company reported $1.33 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.31 by $0.02. The company had revenue of $7.92 billion during the quarter, compared to analyst estimates of $7.86 billion. Medtronic PLC had a return on equity of 12.72% and a net margin of 13.56%. The firm’s revenue was up 4.6% on a year-over-year basis. During the same quarter last year, the business posted $1.27 earnings per share. On average, analysts anticipate that Medtronic PLC will post $4.80 earnings per share for the current year.
The business also recently declared a quarterly dividend, which was paid on Wednesday, July 26th. Investors of record on Friday, July 7th were given a $0.46 dividend. The ex-dividend date was Wednesday, July 5th. This represents a $1.84 annualized dividend and a yield of 2.21%. This is a positive change from Medtronic PLC’s previous quarterly dividend of $0.43. Medtronic PLC’s dividend payout ratio (DPR) is currently 63.67%.
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A number of research firms have recently weighed in on MDT. UBS AG restated a “buy” rating and issued a $95.00 target price (up previously from $94.00) on shares of Medtronic PLC in a report on Tuesday, May 30th. BidaskClub upgraded Medtronic PLC from a “sell” rating to a “hold” rating in a report on Friday, August 11th. Zacks Investment Research lowered Medtronic PLC from a “hold” rating to a “sell” rating in a report on Monday, July 31st. Deutsche Bank AG set a $96.00 price target on Medtronic PLC and gave the stock a “buy” rating in a report on Monday, July 31st. Finally, Oppenheimer Holdings, Inc. reiterated a “buy” rating and set a $93.00 price target (up from $87.00) on shares of Medtronic PLC in a report on Thursday, May 25th. Two research analysts have rated the stock with a sell rating, ten have assigned a hold rating and fifteen have assigned a buy rating to the stock. The company currently has an average rating of “Hold” and an average target price of $89.84.
In related news, EVP Bryan C. Hanson sold 12,000 shares of Medtronic PLC stock in a transaction dated Monday, July 17th. The stock was sold at an average price of $88.57, for a total value of $1,062,840.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Richard H. Anderson purchased 5,600 shares of the company’s stock in a transaction that occurred on Wednesday, June 21st. The stock was bought at an average price of $88.90 per share, with a total value of $497,840.00. Following the transaction, the director now owns 71,910 shares of the company’s stock, valued at approximately $6,392,799. The disclosure for this purchase can be found here. Company insiders own 0.25% of the company’s stock.
About Medtronic PLC
Medtronic Public Limited Company (Medtronic) is a medical technology and services company. The Company develops, manufactures and markets its medical devices and technologies to hospitals, physicians, clinicians and patients in approximately 160 countries. The Company operates in four segments: Cardiac and Vascular Group, Minimally Invasive Technologies Group, Restorative Therapies Group and Diabetes Group.
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