Vestor Capital LLC lifted its stake in shares of Medtronic PLC (NYSE:MDT) by 0.2% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 61,539 shares of the medical technology company’s stock after purchasing an additional 125 shares during the period. Vestor Capital LLC’s holdings in Medtronic PLC were worth $5,462,000 as of its most recent filing with the SEC.
Other hedge funds also recently modified their holdings of the company. Parkside Financial Bank & Trust lifted its position in shares of Medtronic PLC by 22.4% during the second quarter. Parkside Financial Bank & Trust now owns 1,146 shares of the medical technology company’s stock worth $102,000 after purchasing an additional 210 shares during the last quarter. BDO Wealth Advisors LLC bought a new position in shares of Medtronic PLC during the second quarter worth about $103,000. Motco lifted its position in shares of Medtronic PLC by 8.7% during the second quarter. Motco now owns 1,239 shares of the medical technology company’s stock worth $110,000 after purchasing an additional 99 shares during the last quarter. Israel Discount Bank of New York bought a new position in shares of Medtronic PLC during the first quarter worth about $117,000. Finally, Birch Hill Investment Advisors LLC bought a new position in shares of Medtronic PLC during the first quarter worth about $120,000. 80.81% of the stock is currently owned by institutional investors and hedge funds.
Several equities analysts have recently commented on MDT shares. Wells Fargo & Company reaffirmed 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 report on Tuesday, July 18th. BidaskClub cut shares of Medtronic PLC from a “strong-buy” rating to a “buy” rating in a research report on Monday, July 24th. Deutsche Bank AG set a $96.00 price target on shares of Medtronic PLC and gave the stock a “buy” rating in a research report on Monday, July 31st. Finally, Zacks Investment Research cut shares of Medtronic PLC from a “hold” rating to a “sell” rating in a research report on Monday, July 31st. Three analysts have rated the stock with a sell rating, ten have assigned a hold rating and thirteen have assigned a buy rating to the stock. Medtronic PLC 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 firm’s stock in a transaction that occurred on 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 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 Securities & Exchange Commission, which is available through this hyperlink. Also, 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 transaction of $1,248,480.00. The disclosure for this sale can be found here. 0.31% of the stock is owned by company insiders.
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Medtronic PLC (MDT) opened at $78.43 on Friday. The company has a market cap of $105.48 billion, a P/E ratio of 16.60, a P/E/G ratio of 2.16 and a beta of 1.00. The company has a current ratio of 1.64, a quick ratio of 1.40 and a debt-to-equity ratio of 0.51.
Medtronic PLC (NYSE:MDT) last posted its quarterly earnings data on Tuesday, August 22nd. The medical technology company reported $1.12 EPS for the quarter, beating the Zacks’ 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 analyst estimates of $7.44 billion. During the same quarter last year, the business earned $1.03 earnings per share. The business’s revenue for the quarter was up 3.1% on a year-over-year basis. research analysts expect that Medtronic PLC will post 4.64 earnings per share for the current fiscal year.
The business 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. The ex-dividend date of this dividend was Thursday, September 28th. This represents a $1.84 dividend on an annualized basis and a dividend yield of 2.35%. Medtronic PLC’s dividend payout ratio is presently 61.95%.
Medtronic PLC 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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