NS Partners Ltd cut its stake in Medtronic PLC (NYSE:MDT) by 0.6% during the first quarter, Holdings Channel reports. The fund owned 124,814 shares of the medical technology company’s stock after selling 724 shares during the period. Medtronic PLC accounts for approximately 1.4% of NS Partners Ltd’s holdings, making the stock its 21st largest position. NS Partners Ltd’s holdings in Medtronic PLC were worth $10,055,000 as of its most recent filing with the SEC.
Several other large investors have also added to or reduced their stakes in MDT. Stock Yards Bank & Trust Co. acquired a new stake in Medtronic PLC during the first quarter valued at about $210,000. Augustine Asset Management Inc. raised its stake in Medtronic PLC by 0.5% in the first quarter. Augustine Asset Management Inc. now owns 43,696 shares of the medical technology company’s stock valued at $3,520,000 after buying an additional 203 shares during the last quarter. Koshinski Asset Management Inc. raised its stake in Medtronic PLC by 56.3% in the first quarter. Koshinski Asset Management Inc. now owns 4,816 shares of the medical technology company’s stock valued at $388,000 after buying an additional 1,734 shares during the last quarter. Carroll Financial Associates Inc. raised its stake in Medtronic PLC by 43.5% in the first quarter. Carroll Financial Associates Inc. now owns 15,092 shares of the medical technology company’s stock valued at $1,215,000 after buying an additional 4,575 shares during the last quarter. Finally, First American Bank raised its stake in Medtronic PLC by 152.8% in the first quarter. First American Bank now owns 58,760 shares of the medical technology company’s stock valued at $4,734,000 after buying an additional 35,514 shares during the last quarter. 83.36% of the stock is owned by institutional investors.
Medtronic PLC (NYSE MDT) traded down 0.51% on Thursday, hitting $83.52. 652,598 shares of the stock were exchanged. The stock has a market cap of $113.51 billion, a PE ratio of 28.90 and a beta of 1.02. The company’s 50 day moving average is $86.49 and its 200 day moving average is $82.81. Medtronic PLC has a 1-year low of $69.35 and a 1-year high of $89.72.
Medtronic PLC (NYSE:MDT) last issued its earnings results on Thursday, May 25th. The medical technology company reported $1.33 EPS for the quarter, beating 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 company had revenue of $7.92 billion for the quarter, compared to the consensus estimate of $7.86 billion. During the same quarter in the previous year, the company earned $1.27 EPS. The firm’s revenue for the quarter was up 4.6% compared to the same quarter last year. On average, equities research analysts expect that Medtronic PLC will post $4.81 earnings per share for the current year.
The company also recently announced a quarterly dividend, which was paid on Wednesday, July 26th. Stockholders of record on Friday, July 7th were paid a $0.46 dividend. This represents a $1.84 annualized dividend and a dividend yield of 2.19%. The ex-dividend date of this dividend was Wednesday, July 5th. This is an increase from Medtronic PLC’s previous quarterly dividend of $0.43. Medtronic PLC’s payout ratio is currently 63.67%.
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MDT has been the subject of several recent research reports. Royal Bank Of Canada reissued a “buy” rating and issued a $85.00 price objective on shares of Medtronic PLC in a research report on Tuesday, April 18th. Oppenheimer Holdings, Inc. reissued a “buy” rating on shares of Medtronic PLC in a research report on Tuesday, April 18th. Evercore ISI raised their price target on shares of Medtronic PLC from $88.00 to $88.50 and gave the company an “outperform” rating in a report on Wednesday, April 19th. Northland Securities reaffirmed a “hold” rating and set a $80.00 price target on shares of Medtronic PLC in a report on Thursday, April 20th. Finally, Goldman Sachs Group, Inc. (The) assumed coverage on shares of Medtronic PLC in a report on Tuesday, May 16th. They set a “neutral” rating and a $87.00 price target for the company. Three equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and fifteen have given a buy rating to the company. The company presently has an average rating of “Hold” and a consensus price target of $89.84.
In other news, EVP Bryan C. Hanson sold 12,000 shares of the business’s stock in a transaction on Monday, July 17th. The shares were sold at an average price of $88.57, for a total value of $1,062,840.00. The sale was disclosed in a filing with the SEC, which is available at this link. Also, Director Richard H. Anderson bought 5,600 shares of Medtronic PLC stock in a transaction dated Wednesday, June 21st. The stock was purchased at an average price of $88.90 per share, for a total transaction of $497,840.00. Following the purchase, the director now directly owns 71,910 shares in the company, valued at approximately $6,392,799. The disclosure for this purchase can be found here. 0.25% of the stock is currently owned by insiders.
Medtronic PLC Company Profile
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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