Medtronic PLC (MDT) Stake Reduced by FIL Ltd
FIL Ltd cut its stake in Medtronic PLC (NYSE:MDT) by 9.3% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 598,798 shares of the medical technology company’s stock after selling 61,427 shares during the period. FIL Ltd’s holdings in Medtronic PLC were worth $48,239,000 at the end of the most recent quarter.
A number of other large investors also recently modified their holdings of the company. Baystate Wealth Management LLC boosted its stake in shares of Medtronic PLC by 40.9% in the first quarter. Baystate Wealth Management LLC now owns 1,959 shares of the medical technology company’s stock valued at $157,000 after buying an additional 569 shares during the period. North Star Investment Management Corp. boosted its stake in shares of Medtronic PLC by 4.4% in the first quarter. North Star Investment Management Corp. now owns 1,973 shares of the medical technology company’s stock valued at $159,000 after buying an additional 83 shares during the period. Hudock Capital Group LLC boosted its stake in shares of Medtronic PLC by 0.6% in the first quarter. Hudock Capital Group LLC now owns 2,184 shares of the medical technology company’s stock valued at $175,000 after buying an additional 12 shares during the period. Johnson Financial Group LLC acquired a new stake in shares of Medtronic PLC during the first quarter valued at about $204,000. Finally, Patten & Patten Inc. TN acquired a new stake in shares of Medtronic PLC during the first quarter valued at about $206,000. 83.36% of the stock is owned by institutional investors.
Medtronic PLC (NYSE:MDT) opened at 84.38 on Tuesday. The firm has a market cap of $114.67 billion, a PE ratio of 29.20 and a beta of 1.02. The firm has a 50-day moving average of $87.24 and a 200-day moving average of $82.55. Medtronic PLC has a 52-week low of $69.35 and a 52-week high of $89.72.
Medtronic PLC (NYSE:MDT) last issued its quarterly earnings results on Thursday, May 25th. The medical technology company reported $1.33 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.31 by $0.02. Medtronic PLC had a return on equity of 12.72% and a net margin of 13.56%. The firm had revenue of $7.92 billion for the quarter, compared to analyst estimates of $7.86 billion. During the same period last year, the company earned $1.27 EPS. The firm’s quarterly revenue was up 4.6% on a year-over-year basis. Equities analysts anticipate that Medtronic PLC will post $4.81 EPS for the current year.
The firm also recently declared a quarterly dividend, which was paid on Wednesday, July 26th. Shareholders of record on Friday, July 7th were paid a $0.46 dividend. This represents a $1.84 dividend on an annualized basis and a yield of 2.18%. This is a positive change from Medtronic PLC’s previous quarterly dividend of $0.43. The ex-dividend date of this dividend was Wednesday, July 5th. Medtronic PLC’s dividend payout ratio (DPR) is presently 63.67%.
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Several brokerages have issued reports on MDT. Morgan Stanley lifted their target price on shares of Medtronic PLC from $84.00 to $86.00 and gave the stock an “equal weight” rating in a research note on Tuesday, May 30th. Stifel Nicolaus reaffirmed a “hold” rating and set a $91.00 target price (up previously from $84.00) on shares of Medtronic PLC in a research note on Sunday, May 28th. William Blair reaffirmed an “outperform” rating on shares of Medtronic PLC in a research note on Thursday, July 6th. Evercore ISI reaffirmed an “outperform” rating and set a $91.00 target price (up previously from $88.50) on shares of Medtronic PLC in a research note on Sunday, May 28th. Finally, Needham & Company LLC reaffirmed a “buy” rating and set a $95.00 target price (up previously from $91.00) on shares of Medtronic PLC in a research note 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 company’s stock. The company presently has a consensus rating of “Hold” and an average target price of $89.84.
In other Medtronic PLC news, Director Richard H. Anderson purchased 5,600 shares of the firm’s stock in a transaction on Wednesday, June 21st. The shares were purchased at an average cost of $88.90 per share, with a total value of $497,840.00. Following the purchase, the director now owns 71,910 shares in the company, valued at $6,392,799. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Bryan C. Hanson sold 12,000 shares of the firm’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. 0.25% of the stock is currently owned by company 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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