Medtronic PLC (NYSE:MDT) Shares Bought by Signaturefd LLC
Signaturefd LLC raised its stake in shares of Medtronic PLC (NYSE:MDT) by 88.8% during the first quarter, Holdings Channel reports. The fund owned 7,021 shares of the medical technology company’s stock after buying an additional 3,302 shares during the period. Signaturefd LLC’s holdings in Medtronic PLC were worth $566,000 as of its most recent SEC filing.
Several other institutional investors have also made changes to their positions in the stock. Smith Salley & Associates increased its position in shares of Medtronic PLC by 2.5% in the first quarter. Smith Salley & Associates now owns 5,853 shares of the medical technology company’s stock valued at $472,000 after buying an additional 141 shares during the last quarter. Atria Investments LLC increased its position in shares of Medtronic PLC by 39.0% in the first quarter. Atria Investments LLC now owns 9,233 shares of the medical technology company’s stock valued at $744,000 after buying an additional 2,591 shares during the last quarter. Intrust Bank NA increased its position in shares of Medtronic PLC by 2.6% in the first quarter. Intrust Bank NA now owns 10,688 shares of the medical technology company’s stock valued at $861,000 after buying an additional 272 shares during the last quarter. High Pointe Capital Management LLC purchased a new stake in Medtronic PLC during the first quarter worth approximately $854,000. Finally, Shine Investment Advisory Services Inc. purchased a new stake in Medtronic PLC during the first quarter worth approximately $244,000. Institutional investors and hedge funds own 83.36% of the company’s stock.
Medtronic PLC (NYSE:MDT) traded up 1.00% on Friday, hitting $83.87. The stock had a trading volume of 1,609,418 shares. The firm’s 50 day moving average price is $86.33 and its 200-day moving average price is $82.81. Medtronic PLC has a 12 month low of $69.35 and a 12 month high of $89.72. The stock has a market cap of $113.98 billion, a PE ratio of 29.02 and a beta of 1.02.
Medtronic PLC (NYSE:MDT) last released its quarterly earnings results on Thursday, May 25th. The medical technology company reported $1.33 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.31 by $0.02. The firm had revenue of $7.92 billion for the quarter, compared to analyst estimates of $7.86 billion. Medtronic PLC had a net margin of 13.56% and a return on equity of 12.72%. The business’s revenue for the quarter was up 4.6% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.27 EPS. On average, analysts forecast that Medtronic PLC will post $4.81 EPS for the current year.
The company also recently declared a quarterly dividend, which was paid on Wednesday, July 26th. Stockholders of record on Friday, July 7th were given a dividend of $0.46 per share. This represents a $1.84 annualized dividend and a dividend yield of 2.22%. The ex-dividend date was Wednesday, July 5th. This is a positive change from Medtronic PLC’s previous quarterly dividend of $0.43. Medtronic PLC’s payout ratio is presently 63.67%.
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MDT has been the topic of a number of research analyst reports. Royal Bank Of Canada reiterated a “buy” rating and issued a $85.00 target price on shares of Medtronic PLC in a research report on Tuesday, April 18th. Oppenheimer Holdings, Inc. reiterated a “buy” rating on shares of Medtronic PLC in a research report on Tuesday, April 18th. Evercore ISI boosted their target price on Medtronic PLC from $88.00 to $88.50 and gave the stock an “outperform” rating in a research report on Wednesday, April 19th. Northland Securities reiterated a “hold” rating and issued a $80.00 target price on shares of Medtronic PLC in a research report on Thursday, April 20th. Finally, Goldman Sachs Group, Inc. (The) initiated coverage on Medtronic PLC in a research report on Tuesday, May 16th. They issued a “neutral” rating and a $87.00 target price on the stock. Two investment analysts have rated the stock with a sell rating, ten have issued a hold rating and fifteen have issued a buy rating to the company’s stock. Medtronic PLC currently has an average rating of “Hold” and an average 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 shares were sold at an average price of $88.57, for a total value of $1,062,840.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Richard H. Anderson bought 5,600 shares of the company’s stock in a transaction that occurred on Wednesday, June 21st. The stock was bought at an average price of $88.90 per share, with a total value of $497,840.00. Following the acquisition, 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 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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