Gluskin Sheff & Assoc Inc. boosted its stake in shares of Medtronic PLC (NYSE:MDT) by 48.5% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 32,220 shares of the medical technology company’s stock after buying an additional 10,520 shares during the period. Gluskin Sheff & Assoc Inc.’s holdings in Medtronic PLC were worth $2,796,000 at the end of the most recent reporting period.
Several other institutional investors have also recently bought and sold shares of MDT. Kelman Lazarov Inc. increased its stake in shares of Medtronic PLC by 17.4% in the second quarter. Kelman Lazarov Inc. now owns 1,517 shares of the medical technology company’s stock worth $132,000 after buying an additional 225 shares in the last quarter. Arcadia Investment Management Corp MI boosted its stake in Medtronic PLC by 70.0% in the second quarter. Arcadia Investment Management Corp MI now owns 1,700 shares of the medical technology company’s stock valued at $148,000 after buying an additional 700 shares during the last quarter. Kistler Tiffany Companies LLC boosted its stake in Medtronic PLC by 2.1% in the second quarter. Kistler Tiffany Companies LLC now owns 1,776 shares of the medical technology company’s stock valued at $154,000 after buying an additional 36 shares during the last quarter. MU Investments Co. Ltd. acquired a new stake in Medtronic PLC during the second quarter valued at $162,000. Finally, Telemus Capital LLC acquired a new stake in Medtronic PLC during the second quarter valued at $214,000. 83.11% of the stock is currently owned by institutional investors.
Shares of Medtronic PLC (NYSE:MDT) traded up 0.01% during trading on Friday, reaching $85.96. 3,182,362 shares of the company traded hands. The firm’s 50 day moving average is $86.45 and its 200-day moving average is $83.62. The stock has a market capitalization of $118.79 billion, a P/E ratio of 33.45 and a beta of 0.88. Medtronic PLC has a 12-month low of $71.03 and a 12-month high of $89.27.
Medtronic PLC (NYSE:MDT) last announced its quarterly earnings results on Thursday, August 25th. The medical technology company reported $1.03 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.01 by $0.02. Medtronic PLC 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 analysts’ expectations of $7.17 billion. During the same quarter in the previous year, the company earned $1.02 earnings per share. Medtronic PLC’s quarterly revenue was down 1.0% on a year-over-year basis. On average, equities research analysts anticipate that Medtronic PLC will post $4.66 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, October 21st. Shareholders of record on Thursday, September 29th will be issued a $0.43 dividend. This represents a $1.72 dividend on an annualized basis and a yield of 2.00%. The ex-dividend date of this dividend is Tuesday, September 27th. Medtronic PLC’s dividend payout ratio (DPR) is presently 66.93%.
MDT has been the subject of several recent analyst reports. SunTrust Banks Inc. upped their target price on Medtronic PLC from $93.00 to $98.00 and gave the stock a “buy” rating in a research note on Monday, June 13th. Deutsche Bank AG restated a “buy” rating and set a $90.00 target price on shares of Medtronic PLC in a research note on Wednesday, June 15th. Piper Jaffray Cos. restated an “overweight” rating and set a $94.00 target price (up from $93.00) on shares of Medtronic PLC in a research note on Wednesday, June 15th. Argus restated a “hold” rating on shares of Medtronic PLC in a research note on Monday, June 20th. Finally, BTIG Research restated a “hold” rating on shares of Medtronic PLC in a research note on Monday, June 27th. Six research analysts have rated the stock with a hold rating and nineteen have issued a buy rating to the company’s stock. Medtronic PLC currently has a consensus rating of “Buy” and an average target price of $90.12.
In other Medtronic PLC news, VP Richard Kuntz sold 25,199 shares of the company’s stock in a transaction dated Monday, September 26th. The shares were sold at an average price of $86.67, for a total value of $2,183,997.33. Following the sale, the vice president now owns 149,425 shares in the company, valued at $12,950,664.75. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Shirley A. Jackson sold 2,104 shares of the company’s stock in a transaction dated Wednesday, July 13th. The stock was sold at an average price of $88.64, for a total transaction 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 disclosure for this sale can be found here. 0.25% of the stock is currently owned by company insiders.
Medtronic PLC 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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