Mycio Wealth Partners LLC Continues to Hold Position in Medtronic PLC (MDT)
Mycio Wealth Partners LLC maintained its position in shares of Medtronic PLC (NYSE:MDT) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 3,350 shares of the medical technology company’s stock at the close of the 2nd quarter. Mycio Wealth Partners LLC’s holdings in Medtronic PLC were worth $270,000 as of its most recent SEC filing.
Other large investors also recently added to or reduced their stakes in the company. Parkside Financial Bank & Trust boosted its holdings in shares of Medtronic PLC by 22.4% in the 2nd quarter. Parkside Financial Bank & Trust now owns 1,146 shares of the medical technology company’s stock valued at $102,000 after acquiring an additional 210 shares during the last quarter. BDO Wealth Advisors LLC purchased a new stake in shares of Medtronic PLC in the 2nd quarter valued at $103,000. Israel Discount Bank of New York purchased a new stake in shares of Medtronic PLC in the 1st quarter valued at $117,000. Birch Hill Investment Advisors LLC purchased a new stake in shares of Medtronic PLC in the 1st quarter valued at $120,000. Finally, Farmers National Bank purchased a new stake in shares of Medtronic PLC in the 1st quarter valued at $121,000. 80.60% of the stock is currently owned by institutional investors.
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In other news, EVP Bryan C. Hanson sold 16,000 shares of Medtronic PLC stock in a transaction on Monday, October 16th. The stock was sold at an average price of $78.03, for a total transaction of $1,248,480.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Omar Ishrak sold 140,407 shares of Medtronic PLC stock in a transaction 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 transaction, the chief executive officer now directly owns 668,503 shares of the company’s stock, valued at approximately $54,569,899.89. The disclosure for this sale can be found here. Insiders own 0.31% of the company’s stock.
Several analysts have recently commented on the stock. Oppenheimer Holdings, Inc. reaffirmed a “buy” rating and issued a $92.00 price objective on shares of Medtronic PLC in a report on Tuesday, August 22nd. Jefferies Group LLC reaffirmed a “buy” rating and issued a $103.00 price objective on shares of Medtronic PLC in a report on Thursday, August 3rd. BMO Capital Markets reaffirmed an “outperform” rating and issued a $89.00 price objective (down from $92.00) on shares of Medtronic PLC in a report on Tuesday, October 10th. BidaskClub downgraded shares of Medtronic PLC from a “hold” rating to a “sell” rating in a report on Saturday, August 5th. Finally, Wells Fargo & Company downgraded shares of Medtronic PLC from an “outperform” rating to a “market perform” rating and dropped their price objective for the company from $93.00 to $83.00 in a report on Monday, October 9th. Three research 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. Medtronic PLC has a consensus rating of “Hold” and an average price target of $87.88.
Shares of Medtronic PLC (NYSE:MDT) opened at 78.59 on Thursday. The firm has a market capitalization of $106.46 billion, a PE ratio of 26.45 and a beta of 1.01. Medtronic PLC has a 12 month low of $69.35 and a 12 month high of $89.72. The stock has a 50 day moving average of $79.48 and a 200-day moving average of $83.16.
Medtronic PLC (NYSE:MDT) last released its quarterly earnings results on Tuesday, August 22nd. The medical technology company reported $1.12 earnings per share (EPS) for the quarter, topping the 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 return on equity of 12.92% and a net margin of 13.75%. The business’s revenue was up 3.1% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.03 EPS. On average, equities research analysts anticipate that Medtronic PLC will post $4.64 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 dividend of $0.46 per share. This represents a $1.84 annualized dividend and a dividend yield of 2.34%. 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 initiated a stock repurchase program on Friday, June 23rd that permits the company to buyback $5.00 billion in shares. This buyback authorization permits the medical technology company to reacquire up to 49% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s leadership believes its stock is undervalued.
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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