Genesee Valley Trust Co. raised its stake in shares of Medtronic Inc. (NYSE:MDT) by 2.4% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 11,056 shares of the medical technology company’s stock after buying an additional 254 shares during the period. Genesee Valley Trust Co.’s holdings in Medtronic were worth $959,000 at the end of the most recent reporting period.
Other large investors have also bought and sold shares of the company. First Merchants Corp raised its stake in shares of Medtronic by 2.6% in the second quarter. First Merchants Corp now owns 26,535 shares of the medical technology company’s stock valued at $2,302,000 after buying an additional 685 shares during the period. Court Place Advisors LLC raised its stake in shares of Medtronic by 2.5% in the second quarter. Court Place Advisors LLC now owns 3,842 shares of the medical technology company’s stock valued at $333,000 after buying an additional 94 shares during the period. Norris Perne & French LLP MI raised its stake in shares of Medtronic by 10.9% in the second quarter. Norris Perne & French LLP MI now owns 4,729 shares of the medical technology company’s stock valued at $410,000 after buying an additional 463 shares during the period. Bank of Montreal Can purchased a new stake in shares of Medtronic during the second quarter valued at about $168,956,000. Finally, MSI Financial Services Inc raised its stake in shares of Medtronic by 10.1% in the second quarter. MSI Financial Services Inc now owns 22,783 shares of the medical technology company’s stock valued at $1,976,000 after buying an additional 2,096 shares during the period. 83.11% of the stock is owned by institutional investors.
Medtronic Inc. (NYSE:MDT) traded down 1.31% during trading on Monday, reaching $86.56. The company had a trading volume of 3,729,569 shares. The stock has a 50 day moving average of $86.76 and a 200-day moving average of $83.09. The stock has a market capitalization of $119.62 billion, a P/E ratio of 33.68 and a beta of 0.88. Medtronic Inc. has a 12-month low of $64.95 and a 12-month high of $89.27.
Medtronic (NYSE:MDT) last posted its quarterly earnings data on Thursday, August 25th. The medical technology company reported $1.03 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.01 by $0.02. Medtronic had a net margin of 12.70% and a return on equity of 12.06%. The company had revenue of $7.20 billion for the quarter, compared to analyst estimates of $7.17 billion. During the same period in the prior year, the company posted $1.02 EPS. The firm’s revenue for the quarter was down 1.0% on a year-over-year basis. On average, analysts forecast that Medtronic Inc. will post $4.66 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 21st. Investors of record on Thursday, September 29th will be given a $0.43 dividend. This represents a $1.72 dividend on an annualized basis and a yield of 1.99%. The ex-dividend date of this dividend is Tuesday, September 27th. Medtronic’s dividend payout ratio (DPR) is currently 66.93%.
Several equities research analysts have issued reports on the company. Jefferies Group reaffirmed a “buy” rating on shares of Medtronic in a research note on Wednesday, June 1st. BTIG Research lowered Medtronic from a “buy” rating to a “neutral” rating and set a $82.00 price target for the company. in a research note on Wednesday, June 1st. Credit Suisse Group AG reaffirmed a “buy” rating and set a $85.00 price target on shares of Medtronic in a research note on Tuesday, May 31st. Needham & Company LLC reaffirmed a “buy” rating and set a $93.00 price target (up previously from $90.00) on shares of Medtronic in a research note on Tuesday, May 31st. Finally, BMO Capital Markets reaffirmed a “buy” rating and set a $87.00 price target on shares of Medtronic in a research note on Tuesday, May 31st. Six equities research analysts have rated the stock with a hold rating and nineteen have given a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average price target of $90.12.
In related news, SVP Carol A. Surface sold 9,787 shares of the stock in a transaction dated Wednesday, July 6th. The shares were sold at an average price of $87.08, for a total value of $852,251.96. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Omar Ishrak sold 61,925 shares of the stock in a transaction dated Thursday, September 15th. The stock was sold at an average price of $84.93, for a total transaction of $5,259,290.25. Following the completion of the sale, the chief executive officer now directly owns 565,916 shares in the company, valued at $48,063,245.88. The disclosure for this sale can be found here. 0.25% of the stock is currently owned by corporate insiders.
Medtronic Company Profile
Medtronic plc (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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