BDO Wealth Advisors LLC bought a new stake in Medtronic PLC (NYSE:MDT) in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 1,155 shares of the medical technology company’s stock, valued at approximately $103,000.

Other hedge funds have also bought and sold shares of the company. BlackRock Inc. boosted its stake in Medtronic PLC by 2,513.4% during the first quarter. BlackRock Inc. now owns 87,035,376 shares of the medical technology company’s stock worth $7,011,571,000 after buying an additional 83,705,052 shares during the period. Lazard Asset Management LLC boosted its stake in Medtronic PLC by 1,061.4% during 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 period. Vanguard Group Inc. boosted its stake in Medtronic PLC by 4.5% during the first quarter. Vanguard Group Inc. now owns 102,321,656 shares of the medical technology company’s stock worth $8,243,034,000 after buying an additional 4,412,536 shares during the period. Sanders Capital LLC boosted its stake in Medtronic PLC by 43.7% during the second quarter. Sanders Capital LLC now owns 6,670,948 shares of the medical technology company’s stock worth $651,800,000 after buying an additional 2,027,147 shares during the period. Finally, Massachusetts Financial Services Co. MA boosted its stake in Medtronic PLC by 3.0% during the first quarter. Massachusetts Financial Services Co. MA now owns 58,646,070 shares of the medical technology company’s stock worth $4,724,526,000 after buying an additional 1,729,715 shares during the period. 80.60% of the stock is owned by hedge funds and other institutional investors.

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Several research firms have commented on MDT. SunTrust Banks, Inc. reaffirmed a “buy” rating and set a $96.00 price objective on shares of Medtronic PLC in a research note on Monday, October 2nd. BMO Capital Markets reaffirmed an “outperform” rating and set a $89.00 price objective (down from $92.00) on shares of Medtronic PLC in a research note on Tuesday, October 10th. BidaskClub raised shares of Medtronic PLC from a “sell” rating to a “hold” rating in a research note on Friday, August 11th. Needham & Company LLC dropped their price objective on shares of Medtronic PLC from $95.00 to $94.00 and set a “buy” rating for the company in a research note on Tuesday, October 10th. Finally, Royal Bank Of Canada dropped their price objective on shares of Medtronic PLC from $90.00 to $85.00 and set an “outperform” rating for the company in a research note on Monday, October 9th. Three investment analysts have rated the stock with a sell rating, ten have assigned a hold rating and thirteen have given a buy rating to the stock. The stock presently has an average rating of “Hold” and an average target price of $87.88.

Medtronic PLC (NYSE:MDT) opened at 77.73 on Tuesday. The firm has a 50-day moving average of $79.61 and a 200-day moving average of $83.24. Medtronic PLC has a one year low of $69.35 and a one year high of $89.72. The company has a market capitalization of $105.29 billion, a P/E ratio of 26.16 and a beta of 1.01.

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 consensus estimate of $1.08 by $0.04. Medtronic PLC had a return on equity of 12.92% and a net margin of 13.75%. The business had revenue of $7.39 billion for the quarter, compared to analyst estimates of $7.44 billion. During the same quarter last year, the company earned $1.03 EPS. The business’s quarterly revenue was up 3.1% on a year-over-year basis. On average, analysts anticipate that Medtronic PLC will post $4.65 earnings per share for the current 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 given a dividend of $0.46 per share. This represents a $1.84 annualized dividend and a dividend yield of 2.37%. The ex-dividend date is Thursday, September 28th. Medtronic PLC’s dividend payout ratio (DPR) is presently 61.95%.

Medtronic PLC declared that its board has approved a stock repurchase program on Friday, June 23rd that permits the company to buyback $5.00 billion in outstanding shares. This buyback authorization permits the medical technology company to buy up to 49% of its shares through open market purchases. Shares buyback programs are typically an indication that the company’s leadership believes its stock is undervalued.

In other news, CEO Omar Ishrak sold 140,407 shares of the firm’s stock in a transaction dated Friday, September 15th. The stock was 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 of the company’s stock, valued at approximately $54,569,899.89. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Bryan C. Hanson sold 16,000 shares of the firm’s stock in a transaction dated Monday, October 16th. The stock was sold at an average price of $78.03, for a total value of $1,248,480.00. The disclosure for this sale can be found here. 0.31% of the stock is currently owned by company insiders.

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.

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

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