Whittier Trust Co. raised its stake in Medtronic PLC (NYSE:MDT) by 4.9% during the second quarter, according to its most recent filing with the SEC. The firm owned 15,130 shares of the medical technology company’s stock after buying an additional 710 shares during the period. Whittier Trust Co.’s holdings in Medtronic PLC were worth $1,313,000 as of its most recent SEC filing.
Other hedge funds have also modified their holdings of the company. Kelman Lazarov Inc. boosted 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 valued at $132,000 after buying an additional 225 shares in the last quarter. Arcadia Investment Management Corp MI boosted its stake in shares of 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 worth $148,000 after buying an additional 700 shares during the period. Kistler Tiffany Companies LLC boosted its stake in shares of 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 worth $154,000 after buying an additional 36 shares during the period. MU Investments Co. Ltd. purchased a new stake in shares of Medtronic PLC during the second quarter worth approximately $162,000. Finally, Telemus Capital LLC purchased a new stake in shares of Medtronic PLC during the second quarter worth approximately $214,000. 83.11% of the stock is currently owned by institutional investors.
Medtronic PLC (NYSE:MDT) traded up 0.308% on Monday, hitting $86.225. 2,175,317 shares of the stock were exchanged. The stock has a market cap of $119.16 billion, a price-to-earnings ratio of 33.551 and a beta of 0.88. Medtronic PLC has a 12 month low of $71.03 and a 12 month high of $89.27. The company has a 50-day moving average of $86.45 and a 200-day moving average of $83.62.
Medtronic PLC (NYSE:MDT) last posted its quarterly earnings data on Thursday, August 25th. The medical technology company reported $1.03 EPS for the quarter, topping 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 business had revenue of $7.20 billion for the quarter, compared to analyst estimates of $7.17 billion. During the same quarter in the previous year, the firm posted $1.02 earnings per share. Medtronic PLC’s quarterly revenue was down 1.0% on a year-over-year basis. On average, equities analysts predict that Medtronic PLC will post $4.66 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, October 21st. Investors of record on Thursday, September 29th will be paid a dividend of $0.43 per share. This represents a $1.72 annualized dividend and a yield of 2.00%. The ex-dividend date is Tuesday, September 27th. Medtronic PLC’s payout ratio is currently 66.93%.
A number of analysts have commented on MDT shares. SunTrust Banks Inc. upped their price target on shares of Medtronic PLC from $93.00 to $98.00 and gave the company a “buy” rating in a research report on Monday, June 13th. Deutsche Bank AG reaffirmed a “buy” rating and set a $90.00 price target on shares of Medtronic PLC in a research report on Wednesday, June 15th. Piper Jaffray Cos. reaffirmed an “overweight” rating and set a $94.00 price target (up previously from $93.00) on shares of Medtronic PLC in a research report on Wednesday, June 15th. Argus reaffirmed a “hold” rating on shares of Medtronic PLC in a research report on Monday, June 20th. Finally, BTIG Research reaffirmed a “hold” rating on shares of Medtronic PLC in a research report on Monday, June 27th. Six research analysts have rated the stock with a hold rating and nineteen have issued a buy rating to the stock. Medtronic PLC currently has a consensus rating of “Buy” and a consensus price target of $90.12.
In other Medtronic PLC news, Director Kendall J. Powell sold 7,907 shares of Medtronic PLC stock in a transaction dated Thursday, September 15th. The shares were sold at an average price of $85.45, for a total value of $675,653.15. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Omar Ishrak sold 61,925 shares of Medtronic PLC 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 transaction, the chief executive officer now directly owns 565,916 shares of the company’s stock, valued at $48,063,245.88. The disclosure for this sale can be found here. Corporate insiders own 0.25% of the company’s stock.
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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