Vigilant Capital Management LLC Maintains Stake in Medtronic PLC (MDT)
Vigilant Capital Management LLC held its position in shares of Medtronic PLC (NYSE:MDT) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 3,404 shares of the medical technology company’s stock at the close of the second quarter. Vigilant Capital Management LLC’s holdings in Medtronic PLC were worth $302,000 at the end of the most recent quarter.
Other hedge funds have also bought and sold shares of the company. Farmers National Bank purchased a new position in shares of Medtronic PLC during the first quarter worth approximately $121,000. Israel Discount Bank of New York purchased a new position in shares of Medtronic PLC in the first quarter worth $117,000. Birch Hill Investment Advisors LLC purchased a new position in shares of Medtronic PLC in the first quarter worth $120,000. Proficio Capital Partners LLC increased its stake in shares of Medtronic PLC by 33.3% in the first quarter. Proficio Capital Partners LLC now owns 1,811 shares of the medical technology company’s stock worth $153,000 after buying an additional 452 shares during the period. Finally, Harbour Capital Advisors LLC purchased a new position in shares of Medtronic PLC in the first quarter worth $154,000. 80.62% of the stock is currently owned by hedge funds and other institutional investors.
In other news, CEO Omar Ishrak sold 140,407 shares of Medtronic PLC stock in a transaction that occurred on Friday, September 15th. The stock was sold at an average price of $81.63, for a total value of $11,461,423.41. Following the sale, the chief executive officer now directly owns 668,503 shares of the company’s stock, valued at $54,569,899.89. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 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 value 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 up 0.21% on Friday, reaching $79.70. The company’s stock had a trading volume of 4,593,164 shares. Medtronic PLC has a 12-month low of $69.35 and a 12-month high of $89.72. The firm has a 50-day moving average of $82.04 and a 200 day moving average of $83.67. The company has a market capitalization of $107.96 billion, a price-to-earnings ratio of 26.83 and a beta of 1.03.
Medtronic PLC (NYSE:MDT) last posted its quarterly earnings data 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. The business had revenue of $7.39 billion during the quarter, compared to analysts’ expectations of $7.44 billion. Medtronic PLC had a return on equity of 12.92% and a net margin of 13.75%. The business’s revenue was up 3.1% compared to the same quarter last year. During the same period in the previous year, the business earned $1.03 earnings per share. On average, equities research analysts anticipate that Medtronic PLC will post $4.77 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Friday, October 20th. Stockholders of record on Friday, September 29th will be paid a $0.46 dividend. This represents a $1.84 dividend on an annualized basis and a dividend yield of 2.31%. The ex-dividend date of this dividend is Thursday, September 28th. Medtronic PLC’s dividend payout ratio is presently 61.95%.
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Several brokerages recently commented on MDT. William Blair reaffirmed an “outperform” rating on shares of Medtronic PLC in a research note on Thursday, July 6th. BidaskClub upgraded shares of Medtronic PLC from a “buy” rating to a “strong-buy” rating in a report on Saturday, June 17th. Wells Fargo & Company reiterated an “outperform” rating on shares of Medtronic PLC in a report on Wednesday, July 12th. Oppenheimer Holdings, Inc. reiterated a “buy” rating on shares of Medtronic PLC in a report on Tuesday, July 18th. Finally, BMO Capital Markets lifted their price target on shares of Medtronic PLC from $87.00 to $94.00 and gave the company an “outperform” rating in a report on Tuesday, May 30th. Three investment 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 company currently has a consensus rating of “Hold” and an average target price of $88.78.
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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