Appleton Partners Inc. MA Has $7.11 Million Holdings in Medtronic PLC (MDT)
Appleton Partners Inc. MA raised its position in Medtronic PLC (NYSE:MDT) by 7.4% in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 80,145 shares of the medical technology company’s stock after buying an additional 5,497 shares during the period. Medtronic PLC accounts for 1.2% of Appleton Partners Inc. MA’s investment portfolio, making the stock its 17th biggest holding. Appleton Partners Inc. MA’s holdings in Medtronic PLC were worth $7,113,000 at the end of the most recent quarter.
A number of other large investors have also recently bought and sold shares of MDT. Waldron LP purchased a new stake in Medtronic PLC in the 1st quarter valued at about $512,000. Schmidt P J Investment Management Inc. increased its stake in Medtronic PLC by 1.9% in the 1st quarter. Schmidt P J Investment Management Inc. now owns 20,942 shares of the medical technology company’s stock valued at $1,687,000 after buying an additional 390 shares during the last quarter. Meyer Handelman Co. increased its stake in Medtronic PLC by 1.9% in the 1st quarter. Meyer Handelman Co. now owns 316,386 shares of the medical technology company’s stock valued at $25,487,000 after buying an additional 5,990 shares during the last quarter. WestEnd Advisors LLC increased its stake in Medtronic PLC by 7.4% in the 1st quarter. WestEnd Advisors LLC now owns 687,992 shares of the medical technology company’s stock valued at $55,425,000 after buying an additional 47,533 shares during the last quarter. Finally, Exencial Wealth Advisors LLC purchased a new stake in Medtronic PLC in the 1st quarter valued at about $270,000. Hedge funds and other institutional investors own 80.75% of the company’s stock.
In related news, EVP Bryan C. Hanson sold 12,000 shares of the company’s stock in a transaction on Monday, July 17th. The shares were sold at an average price of $88.57, for a total transaction of $1,062,840.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Richard H. Anderson bought 5,600 shares of the company’s stock in a transaction that occurred on Wednesday, June 21st. The shares were bought at an average price of $88.90 per share, with a total value of $497,840.00. Following the transaction, the director now owns 71,910 shares of the company’s stock, valued at approximately $6,392,799. The disclosure for this purchase can be found here. 0.31% of the stock is currently owned by corporate insiders.
Shares of Medtronic PLC (MDT) traded up 0.39% on Friday, reaching $82.12. 9,563,374 shares of the company’s stock traded hands. The stock has a market cap of $111.24 billion, a price-to-earnings ratio of 27.64 and a beta of 1.03. Medtronic PLC has a 52-week low of $69.35 and a 52-week high of $89.72. The firm’s 50-day moving average is $82.18 and its 200-day moving average is $83.65.
Medtronic PLC (NYSE:MDT) last issued its earnings results on Tuesday, August 22nd. The medical technology company reported $1.12 earnings per share for the quarter, topping the Zacks’ 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 firm had revenue of $7.39 billion during the quarter, compared to analyst estimates of $7.44 billion. During the same quarter in the prior year, the business earned $1.03 earnings per share. Medtronic PLC’s revenue for the quarter was up 3.1% on a year-over-year basis. Analysts anticipate that Medtronic PLC will post $4.77 EPS for the current fiscal year.
The business 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 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 61.95%.
Several research firms have commented on MDT. UBS AG reiterated a “buy” rating and issued a $95.00 price objective (up previously from $94.00) on shares of Medtronic PLC in a research note on Tuesday, May 30th. BidaskClub upgraded shares of Medtronic PLC from a “sell” rating to a “hold” rating in a research note on Friday, August 11th. Zacks Investment Research lowered shares of Medtronic PLC from a “hold” rating to a “sell” rating in a research note on Tuesday, September 12th. Oppenheimer Holdings, Inc. reiterated a “buy” rating and issued a $92.00 price objective on shares of Medtronic PLC in a research note on Tuesday, August 22nd. Finally, CIBC reissued a “buy” rating on shares of Medtronic PLC in a research report on Friday, May 26th. Three investment analysts have rated the stock with a sell rating, nine have given a hold rating and thirteen have issued a buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus price target of $88.78.
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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