Medtronic PLC (MDT) Shares Bought by National Asset Management Inc.
National Asset Management Inc. boosted its stake in shares of Medtronic PLC (NYSE:MDT) by 2.8% during the first quarter, Holdings Channel reports. The fund owned 9,414 shares of the medical technology company’s stock after buying an additional 256 shares during the period. National Asset Management Inc.’s holdings in Medtronic PLC were worth $761,000 at the end of the most recent reporting period.
Several other institutional investors have also recently added to or reduced their stakes in the stock. BKD Wealth Advisors LLC bought a new position in shares of Medtronic PLC during the first quarter worth approximately $552,000. Private Bank & Trust Co. boosted its position in shares of Medtronic PLC by 23.3% in the first quarter. Private Bank & Trust Co. now owns 4,695 shares of the medical technology company’s stock worth $379,000 after buying an additional 887 shares in the last quarter. Prospera Financial Services Inc boosted its position in shares of Medtronic PLC by 1.8% in the first quarter. Prospera Financial Services Inc now owns 5,279 shares of the medical technology company’s stock worth $425,000 after buying an additional 93 shares in the last quarter. TNB Financial bought a new position in shares of Medtronic PLC during the first quarter worth approximately $436,000. Finally, Bremer Trust National Association boosted its position in shares of Medtronic PLC by 11.3% in the first quarter. Bremer Trust National Association now owns 4,108 shares of the medical technology company’s stock worth $331,000 after buying an additional 418 shares in the last quarter. 83.36% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Medtronic PLC (NYSE:MDT) traded up 0.81% on Friday, hitting $83.71. The stock had a trading volume of 4,302,167 shares. Medtronic PLC has a 12 month low of $69.35 and a 12 month high of $89.72. The firm has a market cap of $113.76 billion, a P/E ratio of 28.97 and a beta of 1.02. The firm’s 50-day moving average price is $86.18 and its 200 day moving average price is $82.87.
Medtronic PLC (NYSE:MDT) last posted its quarterly 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. Medtronic PLC had a net margin of 13.56% and a return on equity of 12.72%. The business had revenue of $7.92 billion during the quarter, compared to analysts’ expectations of $7.86 billion. During the same quarter in the prior year, the company posted $1.27 EPS. The business’s revenue for the quarter was up 4.6% on a year-over-year basis. Analysts anticipate that Medtronic PLC will post $4.81 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Wednesday, July 26th. Stockholders of record on Friday, July 7th were paid a $0.46 dividend. This is a boost from Medtronic PLC’s previous quarterly dividend of $0.43. The ex-dividend date of this dividend was Wednesday, July 5th. This represents a $1.84 annualized dividend and a dividend yield of 2.20%. Medtronic PLC’s dividend payout ratio is 63.67%.
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A number of equities analysts recently commented on MDT shares. CIBC reaffirmed a “buy” rating on shares of Medtronic PLC in a report on Friday, May 26th. Needham & Company LLC reaffirmed a “buy” rating and issued a $95.00 target price (up from $91.00) on shares of Medtronic PLC in a report on Thursday, May 25th. Oppenheimer Holdings, Inc. reaffirmed a “buy” rating and issued a $93.00 target price (up from $87.00) on shares of Medtronic PLC in a report on Thursday, May 25th. Royal Bank Of Canada reaffirmed a “buy” rating and issued a $85.00 target price on shares of Medtronic PLC in a report on Tuesday, April 18th. Finally, UBS AG reaffirmed a “buy” rating and issued a $95.00 target price (up from $94.00) on shares of Medtronic PLC in a report on Tuesday, May 30th. Two research analysts have rated the stock with a sell rating, ten have assigned a hold rating and fifteen have assigned a buy rating to the stock. Medtronic PLC has an average rating of “Hold” and a consensus price target of $89.84.
In other news, EVP Bryan C. Hanson sold 12,000 shares of the 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 legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Richard H. Anderson purchased 5,600 shares of the company’s stock in a transaction dated Wednesday, June 21st. The stock was 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 disclosure for this purchase can be found here. Corporate insiders own 0.25% of the company’s stock.
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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