Medtronic PLC (MDT) Shares Bought by Montag & Caldwell LLC
Montag & Caldwell LLC raised its stake in shares of Medtronic PLC (NYSE:MDT) by 16.3% during the second quarter, Holdings Channel reports. The firm owned 2,318,700 shares of the medical technology company’s stock after buying an additional 324,802 shares during the period. Medtronic PLC accounts for about 4.1% of Montag & Caldwell LLC’s holdings, making the stock its 7th largest position. Montag & Caldwell LLC’s holdings in Medtronic PLC were worth $201,194,000 as of its most recent filing with the SEC.
A number of other institutional investors have also added to or reduced their stakes in the stock. Clarkston Capital Partners LLC boosted its stake in shares of Medtronic PLC by 3.3% in the second quarter. Clarkston Capital Partners LLC now owns 120,828 shares of the medical technology company’s stock valued at $10,484,000 after buying an additional 3,840 shares during the last quarter. First Republic Investment Management Inc. boosted its stake in shares of Medtronic PLC by 6.5% in the first quarter. First Republic Investment Management Inc. now owns 538,638 shares of the medical technology company’s stock valued at $40,399,000 after buying an additional 32,837 shares during the last quarter. Atlanta Capital Management Co. L L C purchased a new stake in shares of Medtronic PLC during the first quarter valued at approximately $45,404,000. Comgest Global Investors S.A.S. boosted its stake in shares of Medtronic PLC by 3.4% in the second quarter. Comgest Global Investors S.A.S. now owns 1,733,820 shares of the medical technology company’s stock valued at $150,444,000 after buying an additional 57,500 shares during the last quarter. Finally, Kelman Lazarov Inc. boosted its stake in shares of Medtronic PLC by 17.4% in the second quarter. Kelman Lazarov Inc. now owns 1,517 shares of the medical technology company’s stock valued at $132,000 after buying an additional 225 shares during the last quarter. 83.11% of the stock is currently owned by institutional investors.
Medtronic PLC (NYSE:MDT) traded up 0.01% during trading on Friday, reaching $85.96. The company had a trading volume of 3,182,362 shares. The firm’s 50 day moving average price is $86.45 and its 200 day moving average price is $83.62. The firm has a market capitalization of $118.79 billion, a PE ratio of 33.45 and a beta of 0.88. Medtronic PLC has a 12-month low of $71.03 and a 12-month high of $89.27.
Medtronic PLC (NYSE:MDT) last released its quarterly earnings results on Thursday, August 25th. The medical technology company reported $1.03 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.01 by $0.02. The business earned $7.20 billion during the quarter, compared to analysts’ expectations of $7.17 billion. Medtronic PLC had a return on equity of 12.06% and a net margin of 12.70%. The firm’s revenue for the quarter was down 1.0% compared to the same quarter last year. During the same period last year, the firm posted $1.02 EPS. Analysts anticipate that Medtronic PLC will post $4.66 earnings per share for the current year.
The company also recently declared a quarterly dividend, which will be paid on Friday, October 21st. Investors of record on Thursday, September 29th will be issued a dividend of $0.43 per share. The ex-dividend date of this dividend is Tuesday, September 27th. This represents a $1.72 annualized dividend and a yield of 2.00%. Medtronic PLC’s payout ratio is currently 66.93%.
MDT has been the subject of several recent research reports. Deutsche Bank AG reissued a “buy” rating and issued a $90.00 price target on shares of Medtronic PLC in a research note on Wednesday, June 15th. SunTrust Banks Inc. boosted their target price on Medtronic PLC from $93.00 to $98.00 and gave the stock a “buy” rating in a report on Monday, June 13th. Credit Suisse Group AG restated a “buy” rating and issued a $85.00 target price on shares of Medtronic PLC in a report on Tuesday, June 28th. Evercore ISI restated a “buy” rating and issued a $86.50 target price on shares of Medtronic PLC in a report on Monday, June 27th. Finally, Needham & Company LLC restated a “buy” rating on shares of Medtronic PLC in a report on Monday, June 27th. Six investment analysts have rated the stock with a hold rating and nineteen have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average price target of $90.12.
In related news, Director Shirley A. Jackson sold 2,104 shares of Medtronic PLC stock in a transaction that occurred on Wednesday, July 13th. The stock was sold at an average price of $88.64, for a total transaction of $186,498.56. Following the completion of the sale, the director now directly owns 34,503 shares of the company’s stock, valued at approximately $3,058,345.92. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CEO Omar Ishrak sold 61,925 shares of Medtronic PLC stock in a transaction that occurred on Thursday, September 15th. The stock was sold at an average price of $84.93, for a total value of $5,259,290.25. Following the sale, the chief executive officer now directly owns 565,916 shares of the company’s stock, valued at $48,063,245.88. The disclosure for this sale can be found here. Corporate 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.
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