First National Trust Co. raised its stake in shares of Medtronic Inc. (NYSE:MDT) by 6.6% during the second quarter, Holdings Channel reports. The firm owned 27,657 shares of the medical technology company’s stock after buying an additional 1,703 shares during the period. First National Trust Co.’s holdings in Medtronic were worth $2,400,000 as of its most recent SEC filing.
Other hedge funds have also bought and sold shares of the company. Wade G W & Inc. boosted its stake in Medtronic by 126.6% in the first quarter. Wade G W & Inc. now owns 6,789 shares of the medical technology company’s stock valued at $509,000 after buying an additional 3,793 shares during the period. Investment Centers of America Inc. boosted its stake in shares of Medtronic by 33.1% in the first quarter. Investment Centers of America Inc. now owns 11,925 shares of the medical technology company’s stock worth $897,000 after buying an additional 2,963 shares during the last quarter. Sanders Morris Harris Inc. purchased a new stake in shares of Medtronic during the first quarter worth about $528,000. Factory Mutual Insurance Co. boosted its stake in shares of Medtronic by 3.2% in the first quarter. Factory Mutual Insurance Co. now owns 1,097,400 shares of the medical technology company’s stock worth $82,305,000 after buying an additional 34,000 shares during the last quarter. Finally, Apex Capital Management boosted its stake in shares of Medtronic by 54.0% in the first quarter. Apex Capital Management now owns 6,077 shares of the medical technology company’s stock worth $456,000 after buying an additional 2,132 shares during the last quarter. Institutional investors own 83.11% of the company’s stock.
Shares of Medtronic Inc. (NYSE:MDT) traded down 0.32% on Tuesday, reaching $86.11. The company had a trading volume of 4,092,654 shares. The firm has a market cap of $119.00 billion, a P/E ratio of 33.51 and a beta of 0.88. Medtronic Inc. has a one year low of $69.74 and a one year high of $89.27. The company has a 50-day moving average price of $86.54 and a 200-day moving average price of $83.50.
Medtronic (NYSE:MDT) last announced its quarterly earnings data on Thursday, August 25th. The medical technology company reported $1.03 EPS for the quarter, topping the Zacks’ consensus estimate of $1.01 by $0.02. Medtronic had a return on equity of 12.06% and a net margin of 12.70%. The company earned $7.20 billion during the quarter, compared to the consensus estimate of $7.17 billion. During the same quarter last year, the company earned $1.02 EPS. The company’s quarterly revenue was down 1.0% on a year-over-year basis. On average, analysts expect 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. Shareholders of record on Thursday, September 29th will be given a $0.43 dividend. The ex-dividend date is Tuesday, September 27th. This represents a $1.72 dividend on an annualized basis and a dividend yield of 2.00%. Medtronic’s dividend payout ratio is currently 66.93%.
A number of analysts have recently issued reports on MDT shares. BMO Capital Markets reiterated a “buy” rating on shares of Medtronic in a report on Tuesday, June 7th. SunTrust Banks Inc. boosted their target price on Medtronic from $93.00 to $98.00 and gave the stock a “buy” rating in a report on Monday, June 13th. Evercore ISI reiterated a “buy” rating and set a $86.50 target price on shares of Medtronic in a report on Monday, June 27th. Wells Fargo & Co. reiterated a “buy” rating on shares of Medtronic in a report on Tuesday, June 7th. Finally, Zacks Investment Research upgraded Medtronic from a “hold” rating to a “buy” rating and set a $97.00 target price for the company in a report on Tuesday, August 9th. Six research analysts have rated the stock with a hold rating and nineteen have assigned a buy rating to the company’s stock. Medtronic has an average rating of “Buy” and an average target price of $90.12.
In other Medtronic news, Director Shirley A. Jackson sold 2,104 shares of the firm’s stock in a transaction that occurred on Wednesday, July 13th. The stock was sold at an average price of $88.64, for a total value of $186,498.56. Following the completion of the sale, the director now owns 34,503 shares in the company, valued at approximately $3,058,345.92. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Richard Kuntz sold 17,141 shares of the firm’s stock in a transaction that occurred on Tuesday, September 27th. The stock was sold at an average price of $86.70, for a total value of $1,486,124.70. Following the completion of the sale, the vice president now owns 149,425 shares of the company’s stock, valued at approximately $12,955,147.50. The disclosure for this sale can be found here. 0.25% of the stock is owned by company insiders.
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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