Smith Salley & Associates Sells 55,286 Shares of Medtronic PLC (MDT)

Smith Salley & Associates lowered its stake in shares of Medtronic PLC (NYSE:MDT) by 86.7% during the second quarter, according to its most recent Form 13F filing with the SEC. The fund owned 8,507 shares of the medical technology company’s stock after selling 55,286 shares during the period. Smith Salley & Associates’ holdings in Medtronic PLC were worth $738,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. 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 valued at $154,000 after buying an additional 36 shares in the last quarter. Trust Co. of Toledo NA OH boosted its stake in shares of Medtronic PLC by 0.4% in the second quarter. Trust Co. of Toledo NA OH now owns 11,046 shares of the medical technology company’s stock valued at $958,000 after buying an additional 40 shares in the last quarter. Smithfield Trust Co. boosted its stake in shares of Medtronic PLC by 0.5% in the second quarter. Smithfield Trust Co. now owns 9,971 shares of the medical technology company’s stock valued at $865,000 after buying an additional 45 shares in the last quarter. Webster Bank N. A. boosted its stake in shares of Medtronic PLC by 0.6% in the second quarter. Webster Bank N. A. now owns 8,800 shares of the medical technology company’s stock valued at $763,000 after buying an additional 51 shares in the last quarter. Finally, Whittier Trust Co. of Nevada Inc. boosted its stake in shares of Medtronic PLC by 0.3% in the second quarter. Whittier Trust Co. of Nevada Inc. now owns 18,122 shares of the medical technology company’s stock valued at $1,572,000 after buying an additional 60 shares in the last quarter. Institutional investors own 83.09% of the company’s stock.

Institutional Ownership by Quarter for Medtronic PLC (NYSE:MDT)

Shares of Medtronic PLC (NYSE:MDT) traded up 0.07% during mid-day trading on Wednesday, reaching $83.61. The company’s stock had a trading volume of 2,119,821 shares. The firm’s 50 day moving average is $85.79 and its 200 day moving average is $84.12. Medtronic PLC has a one year low of $71.03 and a one year high of $89.27. The firm has a market cap of $115.54 billion, a PE ratio of 32.53 and a beta of 0.88.

Medtronic PLC (NYSE:MDT) last announced its earnings results on Thursday, August 25th. The medical technology company reported $1.03 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.01 by $0.02. Medtronic PLC had a return on equity of 12.06% and a net margin of 12.70%. The business earned $7.20 billion during the quarter, compared to analyst estimates of $7.17 billion. During the same quarter in the previous year, the business earned $1.02 earnings per share. The company’s revenue for the quarter was down 1.0% compared to the same quarter last year. On average, equities analysts anticipate that Medtronic PLC will post $4.66 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Friday, October 21st. Shareholders of record on Thursday, September 29th will be given a dividend of $0.43 per share. The ex-dividend date is Tuesday, September 27th. This represents a $1.72 annualized dividend and a dividend yield of 2.06%. Medtronic PLC’s dividend payout ratio (DPR) is presently 66.93%.

Several equities research analysts recently weighed in on the company. Vetr cut Medtronic PLC from a “buy” rating to a “hold” rating and set a $87.96 target price for the company. in a report on Wednesday, June 29th. Needham & Company LLC restated a “buy” rating on shares of Medtronic PLC in a report on Monday, June 27th. BTIG Research reiterated a “hold” rating on shares of Medtronic PLC in a report on Monday, June 27th. Evercore ISI reiterated a “buy” rating and issued a $86.50 price objective on shares of Medtronic PLC in a report on Monday, June 27th. Finally, Goldman Sachs Group Inc. reiterated a “buy” rating on shares of Medtronic PLC in a report on Wednesday, July 6th. Five equities research analysts have rated the stock with a hold rating, nineteen have given a buy rating and one has given a strong buy rating to the company. The stock has an average rating of “Buy” and an average target price of $90.43.

In other Medtronic PLC news, CEO Omar Ishrak sold 61,925 shares of the business’s stock in a transaction that occurred on 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 owns 565,916 shares in the company, valued at $48,063,245.88. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Bryan C. Hanson sold 15,000 shares of the business’s stock in a transaction that occurred on Monday, August 29th. The shares were sold at an average price of $87.00, for a total value of $1,305,000.00. Following the transaction, the executive vice president now owns 168,192 shares of the company’s stock, valued at approximately $14,632,704. The disclosure for this sale can be found here. Company insiders own 0.25% of the company’s stock.

About Medtronic PLC

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.

5 Day Chart for NYSE:MDT

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