Fayez Sarofim & Co. boosted its position in shares of Medtronic Inc. (NYSE:MDT) by 0.5% during the second quarter, Holdings Channel reports. The firm owned 68,642 shares of the medical technology company’s stock after buying an additional 345 shares during the period. Fayez Sarofim & Co.’s holdings in Medtronic were worth $5,955,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Proficio Capital Partners LLC boosted its position in Medtronic by 44.5% in the second quarter. Proficio Capital Partners LLC now owns 1,497 shares of the medical technology company’s stock worth $131,000 after buying an additional 461 shares during the last quarter. Kelman Lazarov Inc. boosted its position in Medtronic by 17.4% in the second quarter. Kelman Lazarov Inc. now owns 1,517 shares of the medical technology company’s stock worth $132,000 after buying an additional 225 shares during the last quarter. Arcadia Investment Management Corp MI boosted its position in Medtronic 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 last quarter. Kistler Tiffany Companies LLC boosted its position in Medtronic 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 last quarter. Finally, Brick & Kyle Associates boosted its position in Medtronic by 7.8% in the second quarter. Brick & Kyle Associates now owns 1,833 shares of the medical technology company’s stock worth $159,000 after buying an additional 133 shares during the last quarter. Institutional investors and hedge funds own 83.11% of the company’s stock.

Medtronic Inc. (NYSE:MDT) opened at 87.82 on Friday. The stock’s 50 day moving average price is $86.75 and its 200-day moving average price is $82.82. Medtronic Inc. has a 12 month low of $63.98 and a 12 month high of $89.27. The stock has a market cap of $121.36 billion, a price-to-earnings ratio of 34.17 and a beta of 0.88.

Medtronic (NYSE:MDT) last posted its earnings results on Thursday, August 25th. The medical technology company reported $1.03 earnings per share for the quarter, topping the consensus estimate of $1.01 by $0.02. The firm earned $7.20 billion during the quarter, compared to analysts’ expectations of $7.17 billion. Medtronic had a return on equity of 12.06% and a net margin of 12.70%. The firm’s revenue was down 1.0% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.02 earnings per share. Equities research analysts predict that Medtronic Inc. will post $4.66 EPS for the current year.

The firm also recently announced 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 1.96%. The ex-dividend date is Tuesday, September 27th. Medtronic’s payout ratio is 66.93%.

MDT has been the topic of a number of research analyst reports. Goldman Sachs Group Inc. restated a “buy” rating on shares of Medtronic in a report on Wednesday, July 6th. Argus reaffirmed a “hold” rating on shares of Medtronic in a research note on Monday, June 20th. Zacks Investment Research raised shares of Medtronic from a “hold” rating to a “buy” rating and set a $97.00 price objective for the company in a research note on Tuesday, August 9th. Credit Suisse Group AG reaffirmed an “outperform” rating and issued a $92.00 price objective on shares of Medtronic in a research note on Thursday, August 25th. Finally, Guggenheim started coverage on shares of Medtronic in a research note on Wednesday, June 8th. They issued a “neutral” rating for the company. Six research analysts have rated the stock with a hold rating and nineteen have assigned a buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus target price of $90.12.

In other Medtronic news, Director Shirley A. Jackson sold 2,104 shares of the business’s stock in a transaction that occurred on Wednesday, July 13th. The stock was sold at an average price of $88.64, for a total value of $186,498.56. Following the completion of the sale, the director now owns 34,503 shares in the company, valued at $3,058,345.92. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, SVP Carol A. Surface sold 9,787 shares of the business’s stock in a transaction that occurred on Wednesday, July 6th. The shares were sold at an average price of $87.08, for a total value of $852,251.96. The disclosure for this sale can be found here. 0.25% of the stock is owned by company insiders.

About Medtronic

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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