Financial Counselors Inc. decreased its stake in Medtronic PLC (NYSE:MDT) by 0.9% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 88,967 shares of the medical technology company’s stock after selling 800 shares during the quarter. Financial Counselors Inc.’s holdings in Medtronic PLC were worth $7,896,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors also recently made changes to their positions in MDT. BlackRock Inc. grew its position in shares of Medtronic PLC by 2,513.4% in the first quarter. BlackRock Inc. now owns 87,035,376 shares of the medical technology company’s stock valued at $7,011,571,000 after purchasing an additional 83,705,052 shares during the period. Lazard Asset Management LLC grew its position in shares of Medtronic PLC by 1,061.4% in the first quarter. Lazard Asset Management LLC now owns 13,678,772 shares of the medical technology company’s stock valued at $1,101,960,000 after purchasing an additional 12,500,992 shares during the period. Vanguard Group Inc. grew its position in shares of Medtronic PLC by 4.5% in the first quarter. Vanguard Group Inc. now owns 102,321,656 shares of the medical technology company’s stock valued at $8,243,034,000 after purchasing an additional 4,412,536 shares during the period. Alliancebernstein L.P. grew its position in shares of Medtronic PLC by 135.5% in the second quarter. Alliancebernstein L.P. now owns 6,070,160 shares of the medical technology company’s stock valued at $538,727,000 after purchasing an additional 3,493,058 shares during the period. Finally, Sanders Capital LLC grew its position in shares of Medtronic PLC by 43.7% in the second quarter. Sanders Capital LLC now owns 6,670,948 shares of the medical technology company’s stock valued at $651,800,000 after purchasing an additional 2,027,147 shares during the period. Institutional investors and hedge funds own 80.81% of the company’s stock.
Shares of Medtronic PLC (NYSE MDT) opened at 80.52 on Wednesday. The stock has a 50 day moving average of $79.29 and a 200-day moving average of $83.12. Medtronic PLC has a 1-year low of $69.35 and a 1-year high of $89.72. The stock has a market capitalization of $109.07 billion, a P/E ratio of 27.10 and a beta of 1.01.
Medtronic PLC (NYSE:MDT) last released its earnings results on Tuesday, August 22nd. The medical technology company reported $1.12 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ 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 business had revenue of $7.39 billion for the quarter, compared to analysts’ expectations of $7.44 billion. During the same period last year, the company earned $1.03 earnings per share. The company’s quarterly revenue was up 3.1% on a year-over-year basis. Equities research analysts predict that Medtronic PLC will post $4.63 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Friday, October 20th. Investors of record on Friday, September 29th were given a $0.46 dividend. The ex-dividend date was Thursday, September 28th. This represents a $1.84 annualized dividend and a dividend yield of 2.29%. Medtronic PLC’s dividend payout ratio is presently 61.95%.
In related news, EVP Bryan C. Hanson sold 16,000 shares of the firm’s stock in a transaction that occurred on Monday, October 16th. The shares were sold at an average price of $78.03, for a total value of $1,248,480.00. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Omar Ishrak sold 140,407 shares of the firm’s stock in a transaction that occurred on Friday, September 15th. The stock was sold at an average price of $81.63, for a total transaction of $11,461,423.41. Following the completion of the sale, the chief executive officer now directly owns 668,503 shares in the company, valued at $54,569,899.89. The disclosure for this sale can be found here. 0.31% of the stock is currently owned by company insiders.
Several brokerages have recently issued reports on MDT. William Blair reiterated an “outperform” rating on shares of Medtronic PLC in a research report on Thursday, July 6th. Wells Fargo & Company restated an “outperform” rating on shares of Medtronic PLC in a research report on Wednesday, July 12th. Oppenheimer Holdings, Inc. restated a “buy” rating on shares of Medtronic PLC in a research report on Tuesday, July 18th. BidaskClub lowered shares of Medtronic PLC from a “strong-buy” rating to a “buy” rating in a research report on Monday, July 24th. Finally, Zacks Investment Research lowered shares of Medtronic PLC from a “hold” rating to a “sell” rating in a research report on Monday, July 31st. Three investment analysts have rated the stock with a sell rating, ten have assigned a hold rating and thirteen have given a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average price target of $87.88.
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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