Schmidt P J Investment Management Inc. boosted its position in shares of Medtronic PLC (NYSE:MDT) by 3.1% during the second quarter, Holdings Channel reports. The institutional investor owned 21,594 shares of the medical technology company’s stock after buying an additional 652 shares during the period. Schmidt P J Investment Management Inc.’s holdings in Medtronic PLC were worth $1,916,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in the stock. Stock Yards Bank & Trust Co. bought a new position in shares of Medtronic PLC during the first quarter worth approximately $210,000. Augustine Asset Management Inc. boosted its position in shares of 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 worth $3,520,000 after buying an additional 203 shares during the period. Koshinski Asset Management Inc. boosted its position in shares of 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 worth $388,000 after buying an additional 1,734 shares during the period. Carroll Financial Associates Inc. boosted its position in shares of 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 worth $1,215,000 after buying an additional 4,575 shares during the period. Finally, First American Bank boosted its position in shares of Medtronic PLC by 152.8% in the first quarter. First American Bank now owns 58,760 shares of the medical technology company’s stock worth $4,734,000 after buying an additional 35,514 shares during the period. 83.36% of the stock is currently owned by institutional investors.

Shares of Medtronic PLC (NYSE MDT) traded down 0.7071% on Thursday, reaching $83.3564. The company’s stock had a trading volume of 1,431,356 shares. Medtronic PLC has a one year low of $69.35 and a one year high of $89.72. The firm has a market capitalization of $113.28 billion, a PE ratio of 28.8430 and a beta of 1.02. The firm has a 50-day moving average price of $86.49 and a 200 day moving average price of $82.81.

Medtronic PLC (NYSE:MDT) last announced its earnings results on Thursday, May 25th. The medical technology company reported $1.33 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.31 by $0.02. The business had revenue of $7.92 billion for the quarter, compared to analysts’ expectations of $7.86 billion. Medtronic PLC had a return on equity of 12.72% and a net margin of 13.56%. The business’s revenue for the quarter was up 4.6% on a year-over-year basis. During the same quarter last year, the firm earned $1.27 EPS. On average, analysts anticipate that Medtronic PLC will post $4.81 earnings per share for the current fiscal year.

The business also recently announced a quarterly dividend, which was paid on Wednesday, July 26th. Shareholders of record on Friday, July 7th were given a dividend of $0.46 per share. This represents a $1.84 annualized dividend and a yield of 2.19%. The ex-dividend date of this dividend was Wednesday, July 5th. This is a boost from Medtronic PLC’s previous quarterly dividend of $0.43. Medtronic PLC’s dividend payout ratio (DPR) is 63.67%.

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A number of equities analysts have commented on the company. Morgan Stanley lifted their price target on 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 issued a $91.00 price target (up 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 issued a $91.00 price target (up 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 issued a $95.00 price target (up from $91.00) on shares of Medtronic PLC in a research note on Thursday, May 25th. Three analysts have rated the stock with a sell rating, nine have given a hold rating and fifteen have given a buy rating to the company. Medtronic PLC presently has an average rating of “Hold” and a consensus target price of $89.84.

In other Medtronic PLC news, EVP Bryan C. Hanson sold 12,000 shares of the stock in a transaction on Monday, July 17th. The stock was sold at an average price of $88.57, for a total transaction of $1,062,840.00. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Richard H. Anderson bought 5,600 shares of the company’s stock in a transaction on Wednesday, June 21st. The shares were bought at an average cost of $88.90 per share, for a total transaction of $497,840.00. Following the transaction, 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 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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Institutional Ownership by Quarter for Medtronic PLC (NYSE:MDT)

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