Sprott Inc. trimmed its stake in shares of Medtronic PLC (NYSE:MDT) by 58.1% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,400 shares of the medical technology company’s stock after selling 6,100 shares during the quarter. Sprott Inc.’s holdings in Medtronic PLC were worth $390,000 at the end of the most recent reporting period.

Other hedge funds also recently added to or reduced their stakes in the company. Jackson Grant Investment Advisers Inc. increased its position in Medtronic PLC by 0.3% in the 1st quarter. Jackson Grant Investment Advisers Inc. now owns 2,920 shares of the medical technology company’s stock valued at $235,000 after acquiring an additional 9 shares during the period. Triangle Securities Wealth Management increased its position in Medtronic PLC by 0.3% in the 2nd quarter. Triangle Securities Wealth Management now owns 4,396 shares of the medical technology company’s stock valued at $390,000 after acquiring an additional 15 shares during the period. Tarbox Group Inc. increased its position in Medtronic PLC by 0.4% in the 1st quarter. Tarbox Group Inc. now owns 5,180 shares of the medical technology company’s stock valued at $417,000 after acquiring an additional 20 shares during the period. Shufro Rose & Co. LLC increased its position in Medtronic PLC by 0.3% in the 1st quarter. Shufro Rose & Co. LLC now owns 10,381 shares of the medical technology company’s stock valued at $836,000 after acquiring an additional 28 shares during the period. Finally, Guardian Life Insurance Co. of America increased its position in Medtronic PLC by 0.6% in the 1st quarter. Guardian Life Insurance Co. of America now owns 5,288 shares of the medical technology company’s stock valued at $426,000 after acquiring an additional 29 shares during the period. Institutional investors and hedge funds own 80.62% of the company’s stock.

Several brokerages have issued reports on MDT. UBS AG restated a “buy” rating and issued a $95.00 price target (up from $94.00) on shares of Medtronic PLC in a research report on Tuesday, May 30th. BidaskClub upgraded shares of Medtronic PLC from a “sell” rating to a “hold” rating in a research report on Friday, August 11th. Zacks Investment Research cut shares of Medtronic PLC from a “hold” rating to a “sell” rating in a research report on Monday, July 31st. Oppenheimer Holdings, Inc. restated a “buy” rating and issued a $92.00 price target on shares of Medtronic PLC in a research report on Tuesday, August 22nd. Finally, CIBC restated a “buy” rating on shares of Medtronic PLC in a research report on Friday, May 26th. Three 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. Medtronic PLC currently has an average rating of “Hold” and a consensus price target of $88.78.

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In other news, CEO Omar Ishrak sold 140,407 shares of the business’s stock in a transaction on Friday, September 15th. The shares were sold at an average price of $81.63, for a total transaction of $11,461,423.41. Following the sale, the chief executive officer now owns 668,503 shares in the company, valued at approximately $54,569,899.89. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, EVP Bryan C. Hanson sold 12,000 shares of the business’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 disclosure for this sale can be found here. Insiders own 0.31% of the company’s stock.

Medtronic PLC (NYSE:MDT) traded down 0.87% on Wednesday, hitting $80.48. 2,573,892 shares of the company’s stock were exchanged. The stock has a market cap of $109.02 billion, a P/E ratio of 27.09 and a beta of 1.03. The firm has a 50 day moving average price of $82.04 and a 200-day moving average price of $83.67. Medtronic PLC has a 52-week low of $69.35 and a 52-week high of $89.72.

Medtronic PLC (NYSE:MDT) last announced its earnings results on Tuesday, August 22nd. The medical technology company reported $1.12 EPS for the quarter, beating 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 for the quarter, compared to analysts’ expectations of $7.44 billion. During the same quarter in the previous year, the business posted $1.03 EPS. The company’s quarterly revenue was up 3.1% on a year-over-year basis. Analysts predict that Medtronic PLC will post $4.77 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Friday, October 20th. Stockholders of record on Friday, September 29th will be issued a dividend of $0.46 per share. This represents a $1.84 dividend on an annualized basis and a dividend yield of 2.27%. The ex-dividend date of this dividend is Thursday, September 28th. Medtronic PLC’s dividend payout ratio (DPR) is presently 61.95%.

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.

Institutional Ownership by Quarter for Medtronic PLC (NYSE:MDT)

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