Perkins Coie Trust Co raised its position in Medtronic PLC (NYSE:MDT) by 2.2% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 27,145 shares of the medical technology company’s stock after buying an additional 582 shares during the period. Medtronic PLC accounts for about 1.3% of Perkins Coie Trust Co’s investment portfolio, making the stock its 28th biggest position. Perkins Coie Trust Co’s holdings in Medtronic PLC were worth $2,410,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in the business. Vanguard Group Inc. boosted its position in Medtronic PLC by 4.5% in the first quarter. Vanguard Group Inc. now owns 102,321,656 shares of the medical technology company’s stock valued at $8,243,034,000 after buying an additional 4,412,536 shares in the last quarter. BlackRock Inc. boosted its position in Medtronic PLC by 2,513.4% in the first quarter. BlackRock Inc. now owns 87,035,376 shares of the medical technology company’s stock valued at $7,011,571,000 after buying an additional 83,705,052 shares in the last quarter. Massachusetts Financial Services Co. MA boosted its position in Medtronic PLC by 3.0% in the first quarter. Massachusetts Financial Services Co. MA now owns 58,646,070 shares of the medical technology company’s stock valued at $4,724,526,000 after buying an additional 1,729,715 shares in the last quarter. Lazard Asset Management LLC boosted its position in Medtronic PLC by 1,061.4% in the first quarter. Lazard Asset Management LLC now owns 13,678,772 shares of the medical technology company’s stock valued at $1,101,960,000 after buying an additional 12,500,992 shares in the last quarter. Finally, Geode Capital Management LLC boosted its position in Medtronic PLC by 7.3% in the first quarter. Geode Capital Management LLC now owns 13,308,812 shares of the medical technology company’s stock valued at $1,070,622,000 after buying an additional 906,581 shares in the last quarter. Hedge funds and other institutional investors own 80.75% of the company’s stock.

Shares of Medtronic PLC (NYSE:MDT) traded down 0.21% during midday trading on Thursday, reaching $81.76. 2,002,861 shares of the company’s stock traded hands. The stock has a market cap of $110.75 billion, a P/E ratio of 27.52 and a beta of 1.03. The stock has a 50-day moving average price of $82.48 and a 200-day moving average price of $83.66. Medtronic PLC has a 52-week low of $69.35 and a 52-week high of $89.72.

Medtronic PLC (NYSE:MDT) last posted its earnings results on Tuesday, August 22nd. The medical technology company reported $1.12 EPS for the quarter, topping the consensus estimate of $1.08 by $0.04. Medtronic PLC had a net margin of 13.75% and a return on equity of 12.92%. The business had revenue of $7.39 billion for the quarter, compared to the consensus estimate of $7.44 billion. During the same period last year, the company earned $1.03 EPS. The firm’s revenue was up 3.1% compared to the same quarter last year. Analysts forecast that Medtronic PLC will post $4.77 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Friday, October 20th. Investors of record on Friday, September 29th will be given a dividend of $0.46 per share. The ex-dividend date of this dividend is Thursday, September 28th. This represents a $1.84 annualized dividend and a yield of 2.25%. Medtronic PLC’s dividend payout ratio is presently 61.95%.

In other Medtronic PLC news, Director Richard H. Anderson bought 5,600 shares of the business’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 transaction, the director now directly owns 71,910 shares in the company, valued at $6,392,799. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, 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 disclosure for this sale can be found here. 0.31% of the stock is owned by company insiders.

A number of equities analysts have commented on MDT shares. Deutsche Bank AG set a $96.00 price target on shares of Medtronic PLC and gave the company a “buy” rating in a research report on Monday, July 31st. BidaskClub lowered shares of Medtronic PLC from a “hold” rating to a “sell” rating in a research report on Saturday, August 26th. Morgan Stanley boosted their price target on shares of Medtronic PLC from $84.00 to $86.00 and gave the company an “equal weight” rating in a research report on Tuesday, May 30th. BMO Capital Markets restated an “outperform” rating and issued a $92.00 price target (down from $94.00) on shares of Medtronic PLC in a research report on Wednesday, August 23rd. Finally, Zacks Investment Research upgraded shares of Medtronic PLC from a “sell” rating to a “hold” rating in a research report on Wednesday, September 6th. Three equities research analysts have rated the stock with a sell rating, nine have given a hold rating and thirteen have given a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus price target of $88.78.

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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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