Glenview Trust Co cut its position in Medtronic PLC (NYSE:MDT) by 3.2% during the first quarter, according to its most recent Form 13F filing with the SEC. The fund 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 filing with the SEC.
Other large investors have also made changes to their positions in the company. Wells Fargo & Company MN raised its stake in Medtronic PLC by 18.9% in the first quarter. Wells Fargo & Company MN now owns 11,932,572 shares of the medical technology company’s stock worth $961,288,000 after buying an additional 1,895,386 shares in the last quarter. Dodge & Cox bought a new position in shares of Medtronic PLC during the fourth quarter valued at approximately $761,351,000. Norges Bank bought a new position in shares of Medtronic PLC during the fourth quarter valued at approximately $757,324,000. Swiss National Bank raised its position in shares of Medtronic PLC by 24.8% in the first quarter. Swiss National Bank now owns 5,459,663 shares of the medical technology company’s stock valued at $439,830,000 after buying an additional 1,085,400 shares during the period. Finally, Aristotle Capital Management LLC raised its position in shares of Medtronic PLC by 3.4% in the fourth quarter. Aristotle Capital Management LLC now owns 3,974,566 shares of the medical technology company’s stock valued at $283,108,000 after buying an additional 132,114 shares during the period. Hedge funds and other institutional investors own 83.54% of the company’s stock.
Shares of Medtronic PLC (NYSE:MDT) traded down 0.31% during mid-day trading on Friday, reaching $83.41. The company’s stock had a trading volume of 4,440,985 shares. The firm has a market capitalization of $113.36 billion, a P/E ratio of 28.86 and a beta of 1.02. The company’s 50-day moving average is $85.48 and its 200 day moving average is $83.22. Medtronic PLC has a 1-year low of $69.35 and a 1-year high of $89.72.
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 $0.46 dividend. 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. This represents a $1.84 annualized dividend and a dividend yield of 2.21%. Medtronic PLC’s dividend payout ratio is presently 63.67%.
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A number of analysts have recently weighed in on MDT shares. BidaskClub raised shares of Medtronic PLC from a “sell” rating to a “hold” rating in a research report on Friday, August 11th. Jefferies Group LLC reaffirmed a “buy” rating and issued a $103.00 target price on shares of Medtronic PLC in a research report on Thursday, August 3rd. Zacks Investment Research downgraded shares of 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 objective on shares of Medtronic PLC and gave the stock a “buy” rating in a research note on Monday, July 31st. Finally, Oppenheimer Holdings, Inc. reiterated a “buy” rating on shares of Medtronic PLC in a research note on Tuesday, July 18th. Two investment 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 stock presently has an average rating of “Hold” and a consensus target price of $89.84.
In other news, EVP Bryan C. Hanson sold 12,000 shares of the stock in a transaction that occurred on Monday, July 17th. The stock was sold at an average price of $88.57, for a total transaction of $1,062,840.00. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Richard H. Anderson purchased 5,600 shares of the company’s stock in a transaction dated Wednesday, June 21st. The shares were bought at an average price of $88.90 per share, for a total transaction of $497,840.00. Following the completion of the transaction, the director now directly owns 71,910 shares in the company, valued at approximately $6,392,799. The disclosure for this purchase can be found here. 0.25% of the stock is owned by corporate 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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