Nations Financial Group Inc. IA ADV Buys New Position in Medtronic PLC (MDT)

Nations Financial Group Inc. IA ADV bought a new stake in shares of Medtronic PLC (NYSE:MDT) in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund bought 2,611 shares of the medical technology company’s stock, valued at approximately $230,000.

A number of other hedge funds have also added to or reduced their stakes in the business. Vanguard Group Inc. increased its stake in Medtronic PLC by 4.5% during 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 last quarter. BlackRock Inc. increased its stake in Medtronic PLC by 2,513.4% during 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 last quarter. Massachusetts Financial Services Co. MA increased its stake in Medtronic PLC by 3.0% during the first quarter. Massachusetts Financial Services Co. MA now owns 58,646,070 shares of the medical technology company’s stock valued at $4,724,526,000 after purchasing an additional 1,729,715 shares during the last quarter. Lazard Asset Management LLC increased its stake in Medtronic PLC by 1,061.4% during 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 last quarter. Finally, Geode Capital Management LLC increased its stake in Medtronic PLC by 7.3% during the first quarter. Geode Capital Management LLC now owns 13,308,812 shares of the medical technology company’s stock valued at $1,070,622,000 after purchasing an additional 906,581 shares during the last quarter. Hedge funds and other institutional investors own 80.81% of the company’s stock.

Medtronic PLC (NYSE:MDT) last posted 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. The business had revenue of $7.39 billion for the quarter, compared to analysts’ expectations of $7.44 billion. Medtronic PLC had a return on equity of 12.92% and a net margin of 13.75%. The firm’s quarterly revenue was up 3.1% compared to the same quarter last year. During the same quarter last year, the business earned $1.03 earnings per share.

The company also recently declared a quarterly dividend, which was paid on Friday, October 20th. Investors of record on Friday, September 29th were issued a $0.46 dividend. This represents a $1.84 annualized dividend and a yield of 2.29%. The ex-dividend date of this dividend was Thursday, September 28th. Medtronic PLC’s dividend payout ratio is 61.95%.

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Several equities analysts have recently issued reports on the stock. William Blair reissued an “outperform” rating on shares of Medtronic PLC in a report on Thursday, July 6th. Wells Fargo & Company reissued an “outperform” rating on shares of Medtronic PLC in a report on Wednesday, July 12th. Oppenheimer Holdings, Inc. reissued a “buy” rating on shares of Medtronic PLC in a report on Tuesday, July 18th. BidaskClub downgraded shares of Medtronic PLC from a “strong-buy” rating to a “buy” rating in a report on Monday, July 24th. Finally, Zacks Investment Research downgraded shares of Medtronic PLC from a “hold” rating to a “sell” rating in a report on Monday, July 31st. Three research analysts have rated the stock with a sell rating, ten have assigned a hold rating and thirteen have issued a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus target price of $87.88.

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

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

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