Glenview Trust Co lowered its stake in shares of Medtronic PLC (NYSE:MDT) by 3.2% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 60,815 shares of the medical technology company’s stock after selling 2,006 shares during the period. Glenview Trust Co’s holdings in Medtronic PLC were worth $4,899,000 as of its most recent SEC filing.
Other hedge funds have also added to or reduced their stakes in the company. Stifel Financial Corp raised its stake in Medtronic PLC by 33.0% in the first quarter. Stifel Financial Corp now owns 967,452 shares of the medical technology company’s stock valued at $77,885,000 after buying an additional 240,283 shares during the last quarter. Prudential Financial Inc. raised its stake in Medtronic PLC by 5.9% in the first quarter. Prudential Financial Inc. now owns 2,286,114 shares of the medical technology company’s stock valued at $184,169,000 after buying an additional 126,970 shares during the last quarter. Bank of The Ozarks raised its stake in Medtronic PLC by 10.0% in the first quarter. Bank of The Ozarks now owns 19,121 shares of the medical technology company’s stock valued at $1,541,000 after buying an additional 1,735 shares during the last quarter. Ronald Blue & Co. LLC acquired a new stake in Medtronic PLC during the first quarter valued at $221,000. Finally, KBC Group NV raised its stake in Medtronic PLC by 10.9% in the first quarter. KBC Group NV now owns 1,085,269 shares of the medical technology company’s stock valued at $87,429,000 after buying an additional 106,706 shares during the last quarter. Hedge funds and other institutional investors own 83.36% of the company’s stock.
Medtronic PLC (MDT) opened at 83.71 on Friday. The firm has a market capitalization of $113.76 billion, a price-to-earnings ratio of 28.97 and a beta of 1.02. The firm’s 50-day moving average price is $86.18 and its 200 day moving average price is $82.87. Medtronic PLC has a 1-year low of $69.35 and a 1-year high of $89.72.
Medtronic PLC (NYSE:MDT) last released its earnings results on Thursday, May 25th. The medical technology company reported $1.33 earnings per share for the quarter, beating analysts’ consensus estimates of $1.31 by $0.02. The firm had revenue of $7.92 billion during the quarter, compared to the consensus estimate of $7.86 billion. Medtronic PLC had a return on equity of 12.72% and a net margin of 13.56%. The company’s revenue was up 4.6% compared to the same quarter last year. During the same period in the prior year, the company posted $1.27 EPS. On average, analysts predict that Medtronic PLC will post $4.81 EPS for the current year.
The business also recently announced a quarterly dividend, which was paid on Wednesday, July 26th. Stockholders of record on Friday, July 7th were given a dividend of $0.46 per share. This represents a $1.84 dividend on an annualized basis and a dividend yield of 2.20%. This is an increase from Medtronic PLC’s previous quarterly dividend of $0.43. The ex-dividend date of this dividend was Wednesday, July 5th. Medtronic PLC’s dividend payout ratio is presently 63.67%.
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Several equities analysts have recently commented on MDT shares. BidaskClub upgraded shares of Medtronic PLC from a “buy” rating to a “strong-buy” rating in a research report on Saturday, June 17th. Cowen and Company reaffirmed an “outperform” rating and issued a $95.00 price objective (up previously from $86.00) on shares of Medtronic PLC in a report on Sunday, May 28th. CIBC reaffirmed a “buy” rating on shares of Medtronic PLC in a report on Friday, May 26th. Jefferies Group LLC reaffirmed a “buy” rating and issued a $103.00 price objective on shares of Medtronic PLC in a report on Thursday, August 3rd. Finally, Goldman Sachs Group, Inc. (The) assumed coverage on shares of Medtronic PLC in a report on Tuesday, May 16th. They issued a “neutral” rating and a $87.00 price objective for the company. Two equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating and fifteen have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus target price of $89.84.
In other Medtronic PLC news, Director Richard H. Anderson acquired 5,600 shares of the company’s stock in a transaction that occurred on Wednesday, June 21st. The stock was acquired at an average cost of $88.90 per share, for a total transaction of $497,840.00. Following the transaction, the director now directly owns 71,910 shares in the company, valued at $6,392,799. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Bryan C. Hanson sold 12,000 shares of the company’s 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 disclosure for this sale can be found here. Corporate 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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