Medtronic PLC (MDT) Shares Sold by Smith Shellnut Wilson LLC ADV
Smith Shellnut Wilson LLC ADV lowered its stake in Medtronic PLC (NYSE:MDT) by 6.1% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 5,107 shares of the medical technology company’s stock after selling 333 shares during the period. Smith Shellnut Wilson LLC ADV’s holdings in Medtronic PLC were worth $443,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors also recently bought and sold shares of the company. Lazard Asset Management LLC raised its holdings in shares of 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 worth $1,101,960,000 after buying an additional 12,500,992 shares during the last quarter. RMB Capital Management LLC purchased a new position in shares of Medtronic PLC in the first quarter worth $4,576,000. Geode Capital Management LLC raised its holdings in shares of 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 worth $1,070,622,000 after buying an additional 906,581 shares during the last quarter. Epoch Investment Partners Inc. raised its holdings in shares of Medtronic PLC by 1,024.0% in the first quarter. Epoch Investment Partners Inc. now owns 302,703 shares of the medical technology company’s stock worth $24,386,000 after buying an additional 275,771 shares during the last quarter. Finally, Smith Salley & Associates raised its holdings 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 worth $472,000 after buying an additional 141 shares during the last quarter. 80.75% of the stock is owned by institutional investors and hedge funds.
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MDT has been the subject of a number of research analyst reports. Deutsche Bank AG set a $96.00 price target on shares of Medtronic PLC and gave the stock a “buy” rating in a report on Monday, July 31st. BidaskClub cut shares of Medtronic PLC from a “hold” rating to a “sell” rating in a report on Saturday, August 26th. Morgan Stanley raised their price target on shares of Medtronic PLC from $84.00 to $86.00 and gave the stock an “equal weight” rating in a report on Tuesday, May 30th. BMO Capital Markets reaffirmed an “outperform” rating and issued a $92.00 price target (down previously from $94.00) on shares of Medtronic PLC in a report on Wednesday, August 23rd. Finally, Zacks Investment Research raised shares of Medtronic PLC from a “sell” rating to a “hold” rating in a report on Wednesday, September 6th. Three equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and thirteen have assigned a buy rating to the company’s stock. Medtronic PLC currently has an average rating of “Hold” and a consensus target price of $88.78.
Medtronic PLC (NYSE:MDT) traded up 0.39% during trading on Friday, reaching $82.12. 9,563,374 shares of the company were exchanged. The stock has a 50 day moving average price of $82.18 and a 200 day moving average price of $83.65. Medtronic PLC has a 12 month low of $69.35 and a 12 month high of $89.72. The firm has a market capitalization of $111.24 billion, a PE ratio of 27.64 and a beta of 1.03.
Medtronic PLC (NYSE:MDT) last announced its quarterly earnings results on Tuesday, August 22nd. The medical technology company reported $1.12 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.08 by $0.04. The business had revenue of $7.39 billion during the quarter, compared to the consensus estimate of $7.44 billion. Medtronic PLC had a net margin of 13.75% and a return on equity of 12.92%. The business’s revenue was up 3.1% compared to the same quarter last year. During the same quarter last year, the firm posted $1.03 EPS. On average, analysts expect that Medtronic PLC will post $4.77 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Friday, October 20th. Stockholders of record on Friday, September 29th will be issued a $0.46 dividend. The ex-dividend date is Thursday, September 28th. This represents a $1.84 dividend on an annualized basis and a dividend yield of 2.24%. Medtronic PLC’s dividend payout ratio is presently 61.95%.
In other Medtronic PLC news, Director Richard H. Anderson acquired 5,600 shares of the stock in a transaction that occurred on Wednesday, June 21st. The shares were 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 purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Bryan C. Hanson sold 12,000 shares of the stock in a transaction dated Monday, July 17th. The shares were 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. Company insiders own 0.31% of the company’s stock.
About Medtronic PLC
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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