Oppenheimer Asset Management Inc. Acquires Shares of 58,431 Medtronic PLC (NYSE:MDT)

Oppenheimer Asset Management Inc. acquired a new stake in shares of Medtronic PLC (NYSE:MDT) during the first quarter, according to its most recent filing with the SEC. The institutional investor acquired 58,431 shares of the medical technology company’s stock, valued at approximately $4,708,000.

Several other hedge funds have also recently made changes to their positions in MDT. Capstone Asset Management Co. increased its stake in shares of Medtronic PLC by 48.9% in the first quarter. Capstone Asset Management Co. now owns 215,327 shares of the medical technology company’s stock valued at $17,347,000 after buying an additional 70,731 shares during the last quarter. Stillwater Capital Advisors LLC increased its stake in shares of Medtronic PLC by 1.2% in the first quarter. Stillwater Capital Advisors LLC now owns 115,889 shares of the medical technology company’s stock valued at $9,336,000 after buying an additional 1,394 shares during the last quarter. First National Bank of Omaha increased its stake in shares of Medtronic PLC by 5.3% in the first quarter. First National Bank of Omaha now owns 142,892 shares of the medical technology company’s stock valued at $11,511,000 after buying an additional 7,170 shares during the last quarter. Regentatlantic Capital LLC increased its stake in shares of Medtronic PLC by 28.7% in the first quarter. Regentatlantic Capital LLC now owns 7,133 shares of the medical technology company’s stock valued at $575,000 after buying an additional 1,590 shares during the last quarter. Finally, Gradient Investments LLC increased its stake in shares of Medtronic PLC by 10,787.0% in the first quarter. Gradient Investments LLC now owns 74,576 shares of the medical technology company’s stock valued at $6,008,000 after buying an additional 73,891 shares during the last quarter. Hedge funds and other institutional investors own 83.36% of the company’s stock.

Medtronic PLC (MDT) traded down 0.55% during trading on Thursday, hitting $83.49. 643,766 shares of the company were exchanged. The stock’s 50-day moving average is $86.49 and its 200-day moving average is $82.81. Medtronic PLC has a 12 month low of $69.35 and a 12 month high of $89.72. The company has a market capitalization of $113.47 billion, a price-to-earnings ratio of 28.89 and a beta of 1.02.

Medtronic PLC (NYSE:MDT) last released its quarterly earnings data on Thursday, May 25th. The medical technology company reported $1.33 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.31 by $0.02. Medtronic PLC had a net margin of 13.56% and a return on equity of 12.72%. The firm had revenue of $7.92 billion during the quarter, compared to analysts’ expectations of $7.86 billion. During the same period last year, the business earned $1.27 earnings per share. Medtronic PLC’s revenue was up 4.6% compared to the same quarter last year. Equities research analysts anticipate that Medtronic PLC will post $4.81 earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, July 26th. Investors of record on Friday, July 7th were given a dividend of $0.46 per share. 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 2.19%. The ex-dividend date was Wednesday, July 5th. Medtronic PLC’s dividend payout ratio (DPR) is presently 63.67%.

ILLEGAL ACTIVITY WARNING: This report was first posted by Ticker Report and is the property of of Ticker Report. If you are accessing this report on another domain, it was copied illegally and reposted in violation of U.S. and international trademark and copyright laws. The legal version of this report can be accessed at https://www.tickerreport.com/banking-finance/2799180/oppenheimer-asset-management-inc-acquires-shares-of-58431-medtronic-plc-nysemdt.html.

Several analysts have recently commented on the stock. William Blair restated an “outperform” rating on shares of Medtronic PLC in a research report on Thursday, July 6th. BidaskClub upgraded shares of Medtronic PLC from a “buy” rating to a “strong-buy” rating in a research report on Saturday, June 17th. Wells Fargo & Company restated an “outperform” rating on shares of Medtronic PLC in a research report on Wednesday, July 12th. Oppenheimer Holdings, Inc. restated a “buy” rating on shares of Medtronic PLC in a research report on Tuesday, July 18th. Finally, 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. Three equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and fifteen have given a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus target price of $89.84.

In related news, EVP Bryan C. Hanson sold 12,000 shares of the firm’s stock in a transaction dated Monday, July 17th. The shares were sold at an average price of $88.57, for a total transaction of $1,062,840.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Richard H. Anderson acquired 5,600 shares of the business’s stock in a transaction that occurred on Wednesday, June 21st. The shares were purchased at an average price of $88.90 per share, with a total value of $497,840.00. Following the completion of the transaction, the director now owns 71,910 shares of the company’s stock, valued at approximately $6,392,799. The disclosure for this purchase can be found here. 0.25% of the stock is currently owned by company insiders.

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.

Want to see what other hedge funds are holding MDT? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Medtronic PLC (NYSE:MDT).

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

Receive News & Ratings for Medtronic PLC Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Medtronic PLC and related companies with MarketBeat.com's FREE daily email newsletter.

Latest News

How to Trade on Forex – 8 Steps for Beginners
How to Trade on Forex – 8 Steps for Beginners
Super Nintendo World Theme Park Officially Starts Construction
Super Nintendo World Theme Park Officially Starts Construction
Amazon and Apple Join Foxconn to Secure Chip Business of Toshiba
Amazon and Apple Join Foxconn to Secure Chip Business of Toshiba
Camera Zooms In and Can Recognize Faces
Camera Zooms In and Can Recognize Faces
Netflix Could See 150 Million Worldwide Subscribers
Netflix Could See 150 Million Worldwide Subscribers
LeEco Cutting Over 70% of Staff in U.S. Amidst Pull Back
LeEco Cutting Over 70% of Staff in U.S. Amidst Pull Back


Leave a Reply

© 2006-2017 Ticker Report. Google+.