American National Insurance Co. TX held its position in Medtronic PLC (NYSE:MDT) during the second quarter, Holdings Channel reports. The fund owned 76,813 shares of the medical technology company’s stock at the end of the second quarter. American National Insurance Co. TX’s holdings in Medtronic PLC were worth $6,817,000 at the end of the most recent quarter.
Several other institutional investors have also bought and sold shares of the company. Ancora Advisors LLC increased its position in Medtronic PLC by 4.8% in the fourth quarter. Ancora Advisors LLC now owns 43,239 shares of the medical technology company’s stock valued at $3,080,000 after buying an additional 1,997 shares in the last quarter. Seven Eight Capital LP acquired a new position in Medtronic PLC during the fourth quarter valued at $3,023,000. Tudor Investment Corp Et Al increased its position in Medtronic PLC by 943.9% in the fourth quarter. Tudor Investment Corp Et Al now owns 42,798 shares of the medical technology company’s stock valued at $3,049,000 after buying an additional 38,698 shares in the last quarter. Sciencast Management LP increased its position in Medtronic PLC by 26.2% in the fourth quarter. Sciencast Management LP now owns 12,933 shares of the medical technology company’s stock valued at $921,000 after buying an additional 2,688 shares in the last quarter. Finally, STA Wealth Management LLC acquired a new position in Medtronic PLC during the fourth quarter valued at $365,000. 83.11% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Medtronic PLC (MDT) traded down 2.83% on Monday, hitting $86.06. 9,461,309 shares of the company were exchanged. The company has a 50-day moving average price of $86.21 and a 200 day moving average price of $80.30. Medtronic PLC has a 52-week low of $69.35 and a 52-week high of $89.72. The firm has a market cap of $116.96 billion, a P/E ratio of 29.78 and a beta of 1.03.
Medtronic PLC (NYSE:MDT) last released its quarterly earnings results on Thursday, May 25th. The medical technology company reported $1.33 earnings per share for the quarter, topping analysts’ consensus estimates of $1.31 by $0.02. Medtronic PLC had a net margin of 13.56% and a return on equity of 12.72%. The business had revenue of $7.92 billion during the quarter, compared to the consensus estimate of $7.86 billion. During the same quarter last year, the company earned $1.27 earnings per share. The business’s quarterly revenue was up 4.6% compared to the same quarter last year. Analysts predict that Medtronic PLC will post $4.95 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 26th. Investors of record on Friday, July 7th will be paid a dividend of $0.46 per share. The ex-dividend date is Wednesday, July 5th. This is a boost from Medtronic PLC’s previous quarterly dividend of $0.43. This represents a $1.84 annualized dividend and a yield of 2.08%. Medtronic PLC’s dividend payout ratio (DPR) is 63.67%.
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MDT has been the subject of several recent analyst reports. Morgan Stanley raised their price objective on shares of Medtronic PLC from $84.00 to $86.00 and gave the stock an “equal weight” rating in a research report on Tuesday, May 30th. BTIG Research restated a “neutral” rating on shares of Medtronic PLC in a research report on Monday, March 20th. Evercore ISI raised their price objective on shares of Medtronic PLC from $88.00 to $88.50 and gave the stock an “outperform” rating in a research report on Wednesday, April 19th. Needham & Company LLC restated a “buy” rating and set a $95.00 price objective (up from $91.00) on shares of Medtronic PLC in a research report on Thursday, May 25th. Finally, Oppenheimer Holdings, Inc. restated a “buy” rating on shares of Medtronic PLC in a research report on Wednesday, March 22nd. Two research analysts have rated the stock with a sell rating, nine have given a hold rating, fifteen have given a buy rating and one has given a strong buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus target price of $89.16.
In other news, Director Richard H. Anderson acquired 5,600 shares of Medtronic PLC stock in a transaction that occurred on Wednesday, June 21st. The shares were purchased at an average cost of $88.90 per share, for a total transaction of $497,840.00. Following the completion of the purchase, the director now directly owns 71,910 shares of the company’s stock, valued at approximately $6,392,799. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 0.25% of the company’s stock.
About Medtronic PLC
Medtronic Public Limited Company (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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