Medtronic PLC (MDT) Shares Sold by Franklin Resources Inc.

Franklin Resources Inc. reduced its stake in Medtronic PLC (NYSE:MDT) by 1.1% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 38,239,521 shares of the medical technology company’s stock after selling 417,673 shares during the period. Medtronic PLC makes up approximately 1.7% of Franklin Resources Inc.’s investment portfolio, making the stock its 2nd biggest position. Franklin Resources Inc. owned about 2.81% of Medtronic PLC worth $3,393,739,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of the stock. Hudock Capital Group LLC lifted its stake in Medtronic PLC by 0.5% during the second quarter. Hudock Capital Group LLC now owns 2,195 shares of the medical technology company’s stock worth $194,000 after purchasing an additional 11 shares during the last quarter. Bollard Group LLC lifted its stake in Medtronic PLC by 0.4% during the second quarter. Bollard Group LLC now owns 3,651 shares of the medical technology company’s stock worth $324,000 after purchasing an additional 14 shares during the last quarter. Triangle Securities Wealth Management lifted its stake in Medtronic PLC by 0.3% during the second quarter. Triangle Securities Wealth Management now owns 4,396 shares of the medical technology company’s stock worth $390,000 after purchasing an additional 15 shares during the last quarter. IFC Holdings Incorporated FL lifted its stake in Medtronic PLC by 0.3% during the second quarter. IFC Holdings Incorporated FL now owns 5,673 shares of the medical technology company’s stock worth $501,000 after purchasing an additional 17 shares during the last quarter. Finally, North Star Investment Management Corp. lifted its stake in Medtronic PLC by 1.1% during the second quarter. North Star Investment Management Corp. now owns 1,995 shares of the medical technology company’s stock worth $177,000 after purchasing an additional 22 shares during the last quarter. Institutional investors and hedge funds own 80.81% of the company’s stock.

Several equities research analysts have weighed in on the company. Jefferies Group LLC restated a “buy” rating and set a $96.00 target price on shares of Medtronic PLC in a research note on Thursday, September 28th. William Blair restated an “outperform” rating on shares of Medtronic PLC in a research note on Thursday, July 6th. SunTrust Banks, Inc. restated a “buy” rating and set a $96.00 target price on shares of Medtronic PLC in a research note on Monday, October 2nd. Zacks Investment Research cut Medtronic PLC from a “hold” rating to a “sell” rating in a research note on Friday, August 25th. Finally, BidaskClub cut Medtronic PLC from a “strong-buy” rating to a “buy” rating in a research note on Monday, July 24th. Three investment analysts have rated the stock with a sell rating, ten have assigned a hold rating and thirteen have assigned a buy rating to the company. The company currently has an average rating of “Hold” and an average target price of $87.88.

In related news, CEO Omar Ishrak sold 140,407 shares of the business’s stock in a transaction dated Friday, September 15th. The shares were sold at an average price of $81.63, for a total transaction of $11,461,423.41. Following the sale, the chief executive officer now owns 668,503 shares of the company’s stock, valued at $54,569,899.89. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Bryan C. Hanson sold 16,000 shares of the business’s stock in a transaction dated Monday, October 16th. The stock was sold at an average price of $78.03, for a total transaction of $1,248,480.00. The disclosure for this sale can be found here. Insiders own 0.31% of the company’s stock.

Medtronic PLC (NYSE:MDT) opened at 81.30 on Monday. Medtronic PLC has a 52-week low of $69.35 and a 52-week high of $89.72. The stock’s 50 day moving average is $79.36 and its 200-day moving average is $83.09. The company has a market cap of $110.13 billion, a PE ratio of 27.36 and a beta of 1.01.

Medtronic PLC (NYSE:MDT) last announced its quarterly earnings results on Tuesday, August 22nd. The medical technology company reported $1.12 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.08 by $0.04. Medtronic PLC had a net margin of 13.75% and a return on equity of 12.92%. The company had revenue of $7.39 billion for the quarter, compared to analysts’ expectations of $7.44 billion. During the same quarter in the previous year, the company earned $1.03 earnings per share. Medtronic PLC’s quarterly revenue was up 3.1% on a year-over-year basis. Equities research analysts predict that Medtronic PLC will post $4.63 EPS for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which was paid on Friday, October 20th. Investors of record on Friday, September 29th were paid a dividend of $0.46 per share. This represents a $1.84 annualized dividend and a yield of 2.26%. The ex-dividend date was Thursday, September 28th. Medtronic PLC’s payout ratio is currently 61.95%.

ILLEGAL ACTIVITY WARNING: “Medtronic PLC (MDT) Shares Sold by Franklin Resources Inc.” was first reported by Community Financial News and is owned by of Community Financial News. If you are reading this report on another publication, it was stolen and reposted in violation of US and international copyright & trademark laws. The original version of this report can be viewed at https://www.com-unik.info/2017/10/30/medtronic-plc-mdt-shares-sold-by-franklin-resources-inc.html.

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.

Want to see what other hedge funds are holding MDT? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Medtronic PLC (NYSE:MDT).

Institutional Ownership by Quarter for Medtronic PLC (NYSE:MDT)

What are top analysts saying about Medtronic PLC? - Enter your email address in the form below to receive our free daily email newsletter that contains the latest headlines and analysts' recommendations for for Medtronic PLC and related companies.

Comments

Leave a Reply


share news on Facebook
tweet this investment news
share on linkedin
share on StockTwits
share on Google Plus
share on reddit