Livingston Group Asset Management CO operating as Southport Capital Management increased its position in shares of Medtronic PLC (NYSE:MDT) by 8.0% during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 8,103 shares of the medical technology company’s stock after buying an additional 603 shares during the period. Livingston Group Asset Management CO operating as Southport Capital Management’s holdings in Medtronic PLC were worth $719,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors also recently bought and sold shares of MDT. Israel Discount Bank of New York bought a new position in Medtronic PLC during the first quarter worth approximately $117,000. Birch Hill Investment Advisors LLC bought a new position in Medtronic PLC during the first quarter worth approximately $120,000. Farmers National Bank bought a new position in Medtronic PLC during the first quarter worth approximately $121,000. Norway Savings Bank boosted its position in Medtronic PLC by 2.7% in the second quarter. Norway Savings Bank now owns 1,427 shares of the medical technology company’s stock worth $127,000 after buying an additional 38 shares during the last quarter. Finally, Proficio Capital Partners LLC boosted its position in Medtronic PLC by 33.3% in the first quarter. Proficio Capital Partners LLC now owns 1,811 shares of the medical technology company’s stock worth $153,000 after buying an additional 452 shares during the last quarter. 83.54% of the stock is currently owned by institutional investors.
Shares of Medtronic PLC (NYSE MDT) traded down 0.31% during trading on Friday, hitting $83.41. 4,440,985 shares of the stock were exchanged. Medtronic PLC has a one year low of $69.35 and a one year high of $89.72. The stock has a market cap of $113.36 billion, a PE ratio of 28.86 and a beta of 1.02. The stock’s 50 day moving average price is $85.48 and its 200 day moving average price is $83.22.
Medtronic PLC (NYSE:MDT) last released its quarterly earnings results on Thursday, May 25th. The medical technology company reported $1.33 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.31 by $0.02. The firm had revenue of $7.92 billion during the quarter, compared to analysts’ expectations of $7.86 billion. Medtronic PLC had a return on equity of 12.72% and a net margin of 13.56%. The business’s revenue was up 4.6% on a year-over-year basis. During the same period last year, the firm posted $1.27 EPS. Equities research analysts predict that Medtronic PLC will post $4.80 EPS for the current year.
The company also recently announced a quarterly dividend, which was paid on Wednesday, July 26th. Stockholders of record on Friday, July 7th were paid a $0.46 dividend. This is a boost from Medtronic PLC’s previous quarterly dividend of $0.43. This represents a $1.84 annualized dividend and a dividend yield of 2.21%. The ex-dividend date of this dividend was Wednesday, July 5th. Medtronic PLC’s dividend payout ratio (DPR) is 63.67%.
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Several analysts have recently issued reports on MDT shares. CIBC reissued a “buy” rating on shares of Medtronic PLC in a research report on Friday, May 26th. Needham & Company LLC reissued a “buy” rating and set a $95.00 price target (up previously from $91.00) on shares of Medtronic PLC in a research report on Thursday, May 25th. Oppenheimer Holdings, Inc. reissued a “buy” rating and set a $93.00 price target (up previously from $87.00) on shares of Medtronic PLC in a research report on Thursday, May 25th. UBS AG reissued a “buy” rating and set a $95.00 price target (up previously from $94.00) on shares of Medtronic PLC in a research report on Tuesday, May 30th. Finally, BidaskClub cut shares of Medtronic PLC from a “strong-buy” rating to a “buy” rating in a research report on Monday, July 24th. Two research analysts have rated the stock with a sell rating, ten have given a hold rating and fifteen have issued a buy rating to the company. Medtronic PLC presently has a consensus rating of “Hold” and an average price target of $89.84.
In other news, Director Richard H. Anderson bought 5,600 shares of the stock in a transaction dated Wednesday, June 21st. The stock was bought at an average cost of $88.90 per share, with a total value of $497,840.00. Following the purchase, the director now owns 71,910 shares of the company’s stock, valued at $6,392,799. The purchase was disclosed in a document filed with the SEC, which is accessible through this link. Also, EVP Bryan C. Hanson sold 12,000 shares of Medtronic PLC stock in a transaction on Monday, July 17th. The shares were sold at an average price of $88.57, for a total value of $1,062,840.00. The disclosure for this sale can be found here. 0.25% of the stock is currently owned by company insiders.
Medtronic PLC Company Profile
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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