Medtronic PLC (MDT) Shares Bought by Schwab Charles Investment Management Inc.
Schwab Charles Investment Management Inc. increased its stake in shares of Medtronic PLC (NYSE:MDT) by 3.4% during the first quarter, Holdings Channel reports. The institutional investor owned 4,370,566 shares of the medical technology company’s stock after buying an additional 142,729 shares during the period. Schwab Charles Investment Management Inc.’s holdings in Medtronic PLC were worth $352,093,000 as of its most recent SEC filing.
Several other hedge funds also recently added to or reduced their stakes in MDT. Stock Yards Bank & Trust Co. bought a new stake in Medtronic PLC during the first quarter valued at $210,000. Koshinski Asset Management Inc. raised its stake in 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 valued at $388,000 after buying an additional 1,734 shares in the last quarter. Carroll Financial Associates Inc. raised its stake in 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 valued at $1,215,000 after buying an additional 4,575 shares in the last quarter. First American Bank raised its stake in Medtronic PLC by 152.8% in the first quarter. First American Bank now owns 58,760 shares of the medical technology company’s stock valued at $4,734,000 after buying an additional 35,514 shares in the last quarter. Finally, SOL Capital Management CO raised its stake in Medtronic PLC by 4.6% in the first quarter. SOL Capital Management CO now owns 5,587 shares of the medical technology company’s stock valued at $450,000 after buying an additional 244 shares in the last quarter. Institutional investors own 83.36% of the company’s stock.
Shares of Medtronic PLC (MDT) traded up 1.02% during trading on Friday, hitting $83.89. 926,506 shares of the company were exchanged. The stock has a market capitalization of $114.01 billion, a PE ratio of 29.03 and a beta of 1.02. The company has a 50 day moving average of $86.33 and a 200-day moving average of $82.81. Medtronic PLC has a 1-year low of $69.35 and a 1-year high of $89.72.
Medtronic PLC (NYSE:MDT) last posted its quarterly earnings data on Thursday, May 25th. The medical technology company reported $1.33 earnings per share for the quarter, beating the Zacks’ consensus estimate 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 analysts’ expectations of $7.86 billion. During the same period in the previous year, the firm earned $1.27 EPS. The business’s quarterly revenue was up 4.6% on a year-over-year basis. On average, analysts forecast that Medtronic PLC will post $4.81 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which was paid on Wednesday, July 26th. Investors of record on Friday, July 7th were paid a dividend of $0.46 per share. This represents a $1.84 annualized dividend and a yield of 2.22%. The ex-dividend date of this dividend was Wednesday, July 5th. This is an increase from Medtronic PLC’s previous quarterly dividend of $0.43. Medtronic PLC’s dividend payout ratio (DPR) is 63.67%.
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Several analysts recently issued reports on MDT shares. Royal Bank Of Canada reissued a “buy” rating and issued a $85.00 price target on shares of Medtronic PLC in a research report on Tuesday, April 18th. Oppenheimer Holdings, Inc. reissued a “buy” rating on shares of Medtronic PLC in a research report on Tuesday, April 18th. Evercore ISI lifted their price target on shares of Medtronic PLC from $88.00 to $88.50 and gave the company an “outperform” rating in a research report on Wednesday, April 19th. Northland Securities reissued a “hold” rating and issued a $80.00 price target on shares of Medtronic PLC in a research report on Thursday, April 20th. Finally, Goldman Sachs Group, Inc. (The) started coverage on shares of Medtronic PLC in a research report on Tuesday, May 16th. They issued a “neutral” rating and a $87.00 price target for the company. Two research analysts have rated the stock with a sell rating, ten have assigned a hold rating and fifteen have issued a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus target price of $89.84.
In related news, EVP Bryan C. Hanson sold 12,000 shares of Medtronic PLC stock in a transaction that occurred 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 filing with the SEC, which is accessible through the SEC website. Also, Director Richard H. Anderson bought 5,600 shares of the firm’s stock in a transaction that occurred on Wednesday, June 21st. The shares were acquired at an average cost of $88.90 per share, for a total transaction of $497,840.00. Following the purchase, 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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