Founders Capital Management LLC Has $6,195,000 Stake in Medtronic PLC (NYSE:MDT)
Founders Capital Management LLC held its position in Medtronic PLC (NYSE:MDT) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 70,289 shares of the medical technology company’s stock at the end of the second quarter. Medtronic PLC makes up 3.1% of Founders Capital Management LLC’s portfolio, making the stock its 15th largest position. Founders Capital Management LLC’s holdings in Medtronic PLC were worth $6,195,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also recently bought and sold shares of MDT. Israel Discount Bank of New York purchased a new position in Medtronic PLC during the first quarter worth $117,000. Birch Hill Investment Advisors LLC purchased a new position in Medtronic PLC during the first quarter worth $120,000. Farmers National Bank purchased a new position in Medtronic PLC during the first quarter worth $121,000. Norway Savings Bank boosted its position in Medtronic PLC by 2.7% in the second quarter. Norway Savings Bank now owns 1,427 shares of the medical technology company’s stock worth $127,000 after buying an additional 38 shares during the period. Finally, Proficio Capital Partners LLC boosted its position in Medtronic PLC by 33.3% in the first quarter. Proficio Capital Partners LLC now owns 1,811 shares of the medical technology company’s stock worth $153,000 after buying an additional 452 shares during the period. Institutional investors and hedge funds own 83.36% of the company’s stock.
Medtronic PLC (MDT) traded down 0.18% during mid-day trading on Tuesday, hitting $84.22. 1,543,983 shares of the company’s stock traded hands. The firm’s 50-day moving average price is $87.24 and its 200-day moving average price is $82.55. Medtronic PLC has a one year low of $69.35 and a one year high of $89.72. The stock has a market cap of $114.46 billion, a PE ratio of 29.14 and a beta of 1.02.
Medtronic PLC (NYSE:MDT) last released its earnings results on Thursday, May 25th. The medical technology company reported $1.33 earnings per share for the quarter, beating the consensus estimate of $1.31 by $0.02. The company had revenue of $7.92 billion during the quarter, compared to the consensus estimate of $7.86 billion. Medtronic PLC had a return on equity of 12.72% and a net margin of 13.56%. Medtronic PLC’s revenue was up 4.6% compared to the same quarter last year. During the same period in the previous year, the company posted $1.27 EPS. On average, analysts forecast that Medtronic PLC will post $4.81 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Wednesday, July 26th. Shareholders of record on Friday, July 7th were given a $0.46 dividend. This is an increase from Medtronic PLC’s previous quarterly dividend of $0.43. This represents a $1.84 annualized dividend and a yield of 2.18%. The ex-dividend date was Wednesday, July 5th. Medtronic PLC’s payout ratio is currently 63.67%.
MDT has been the topic of a number of analyst reports. CIBC reiterated a “buy” rating on shares of Medtronic PLC in a research report on Friday, May 26th. Needham & Company LLC reiterated a “buy” rating and set a $95.00 price objective (up previously from $91.00) on shares of Medtronic PLC in a research report on Thursday, May 25th. Oppenheimer Holdings, Inc. reiterated a “buy” rating and set a $93.00 price objective (up previously from $87.00) on shares of Medtronic PLC in a research report on Thursday, May 25th. Royal Bank Of Canada reiterated a “buy” rating and set a $85.00 price objective on shares of Medtronic PLC in a research report on Tuesday, April 18th. Finally, UBS AG reiterated a “buy” rating and set a $95.00 price objective (up previously from $94.00) on shares of Medtronic PLC in a research report on Tuesday, May 30th. Three analysts have rated the stock with a sell rating, nine have assigned a hold rating and fifteen have assigned a buy rating to the company. The stock currently has an average rating of “Hold” and a consensus price target of $89.84.
In related news, Director Richard H. Anderson acquired 5,600 shares of the stock in a transaction dated Wednesday, June 21st. The stock was acquired at an average cost 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 in the company, valued at approximately $6,392,799. The purchase was disclosed in a document filed with the SEC, which is accessible through this link. Also, EVP Bryan C. Hanson sold 12,000 shares of the business’s stock in a transaction dated Monday, July 17th. The stock was sold at an average price of $88.57, for a total value of $1,062,840.00. The disclosure for this sale can be found here. 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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