Buckingham Capital Management Inc. decreased its stake in Medtronic PLC (NYSE:MDT) by 5.1% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 18,879 shares of the medical technology company’s stock after selling 1,021 shares during the quarter. Buckingham Capital Management Inc.’s holdings in Medtronic PLC were worth $1,676,000 as of its most recent SEC filing.
Other institutional investors and hedge funds also recently modified their holdings of the company. Parkside Financial Bank & Trust increased its position in Medtronic PLC by 22.4% in the second quarter. Parkside Financial Bank & Trust now owns 1,146 shares of the medical technology company’s stock worth $102,000 after buying an additional 210 shares in the last quarter. BDO Wealth Advisors LLC purchased a new stake in Medtronic PLC in the second quarter worth about $103,000. Motco increased its position in Medtronic PLC by 8.7% in the second quarter. Motco now owns 1,239 shares of the medical technology company’s stock worth $110,000 after buying an additional 99 shares in the last quarter. Farmers National Bank purchased a new stake in Medtronic PLC in the first quarter worth about $121,000. Finally, Norway Savings Bank increased its position in Medtronic PLC by 2.7% in the second quarter. Norway Savings Bank now owns 1,427 shares of the medical technology company’s stock worth $127,000 after buying an additional 38 shares in the last quarter. Institutional investors and hedge funds own 80.81% of the company’s stock.
In other news, EVP Bryan C. Hanson sold 16,000 shares of the stock in a transaction that occurred on Monday, October 16th. The stock was sold at an average price of $78.03, for a total value of $1,248,480.00. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CEO Omar Ishrak sold 140,407 shares of the stock in a transaction that occurred on 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 completion of the sale, the chief executive officer now 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 owned by company insiders.
Shares of Medtronic PLC (NYSE MDT) opened at $78.43 on Friday. The company has a market cap of $105.48 billion, a PE ratio of 16.60, a P/E/G ratio of 2.16 and a beta of 1.00. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.64 and a quick ratio of 1.40.
Medtronic PLC (NYSE:MDT) last posted its quarterly earnings data 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 during the quarter, compared to analyst estimates of $7.44 billion. Medtronic PLC had a return on equity of 12.92% and a net margin of 13.75%. The company’s revenue for the quarter was up 3.1% on a year-over-year basis. During the same period last year, the company earned $1.03 EPS. equities analysts predict that Medtronic PLC will post 4.64 EPS for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Friday, October 20th. Stockholders of record on Friday, September 29th were paid a $0.46 dividend. This represents a $1.84 annualized dividend and a dividend yield of 2.35%. The ex-dividend date of this dividend was Thursday, September 28th. Medtronic PLC’s payout ratio is 61.95%.
A number of analysts have commented on the company. Wells Fargo & Company restated an “outperform” rating on shares of Medtronic PLC in a research report on Wednesday, July 12th. Oppenheimer Holdings, Inc. reaffirmed a “buy” rating on shares of Medtronic PLC in a research note on Tuesday, July 18th. BidaskClub lowered Medtronic PLC from a “strong-buy” rating to a “buy” rating in a research note on Monday, July 24th. Zacks Investment Research lowered Medtronic PLC from a “hold” rating to a “sell” rating in a research note on Monday, July 31st. Finally, Deutsche Bank AG set a $96.00 price objective on Medtronic PLC and gave the stock a “buy” rating in a research note on Monday, July 31st. Three investment analysts have rated the stock with a sell rating, ten have issued a hold rating and thirteen have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average target price of $87.88.
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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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